Does macroeconomic theory have any reference significance for formulating China s macroeconomic cont

The following is an interview to help you understand, from Sina.com Finance face-to-face "Wu Jinglian: China's model is a transitional system, the root of the macro policy dilemma is the system" November 01, 2011.

Host Quan Jing: The financial crisis after '08, especially after '09, China adopted a series of macroeconomic policies. Among them, there are evaluations of such a series of policies.

There is a voice that believes that this is the victory of Keynesianism in China, and such a voice believes that perhaps under the current world environment, the Chinese model is a better model, I don't know what you think of this phenomenon, and what do you think of the effect of macroeconomic control policies on China since this round?

Wu Jinglian: There are two issues, one is macroeconomic policy. That's a debate about Keynesianism or neoliberalism.

In fact, what is more basic is what kind of system China's economy is. Its strengths are in the country, and its weaknesses are in the discussion of the so-called China model, and the argument that there is a Chinese model and that this model should be an example. He believes that the so-called Chinese model, the most important feature of the said, is strong.

Why should there be superiority in being strong**? He said that because he was able to concentrate on big things, one example of which was this response to the financial crisis.

When the economy is in expansion and upswing, contractionary fiscal and monetary policies should be adopted. When the economy is in contraction and troughing, expansionary fiscal and monetary policies should be adopted.

1. Macroeconomic policy refers to the conscious and planned use of certain policy tools to regulate and control macroeconomic operations in order to achieve a type of policy objectives. Judging from the practice of Western countries after the war, the policy objectives of the state's macroeconomic regulation and control generally include full employment, economic growth, price stability, and balance of payments.

2. Macroeconomic policy refers to the policy of the state to carry out macroeconomic regulation and control of the entire national economy, which has the following effects on the transformation of the economic growth mode.

3. Macroeconomic policy refers to the guiding principles and measures formulated by the state or the application of various macroeconomic variables that it can grasp and control.

4. Strictly speaking, rough macroeconomic policy refers to fiscal policy and monetary policy, as well as income distribution policy and foreign economic policy. In addition, the intervention in the economy belongs to micro-regulation and control, and the policies adopted are micro-economic policies.

5. Macroeconomic policy refers to the means and measures taken to achieve macroeconomic goals. According to the principles of Marxism, the total social product is divided into means of production (machines, raw materials, materials, fuels, etc.) and means of consumption (food, clothing, housing, daily necessities, etc.) in material form.

Theoretical BasisThe theoretical basis of macroeconomic policy is the Keynesian theory of economics that aggregate demand determines national income, that is, the IS-LM model. The model illustrates how interest rates and national income are determined when both the commodity market and the money market reach equilibrium, and points out how changes in the positions of the IS curve and the LM curve in the model affect the equilibrium interest rate level and national income level. The model is a tool for analyzing the effects of fiscal policy and monetary policy.

The effectiveness of fiscal and monetary policies varies greatly in different regions of the LM curve. The LM curve can be horizontal, incremental, and vertical. Based on this, the LM curve can be divided into Keynesian zones (depression zones), intermediate zones, and classicist zones.

In Figure 1, in the Keynesian region, the IS change has the greatest impact on national income, while the change in LM has no impact on national income, so fiscal policy is effective and monetary policy is ineffective. In the classical region, the IS change only affects the interest rate and does not affect the equilibrium national income, while the LM change has the greatest impact on the national income, so the monetary policy is effective and the fiscal policy is ineffective. In the intermediate region, both fiscal and monetary policies affect the equilibrium national income and interest rates, and both fiscal and monetary policies are effective.

Answer: a, b, d, e

Means of macroeconomic regulation and control: Economic policy: fiscal policy, monetary policy, industrial policy, exchange rate policy, income distribution policy; economic planning; legal means; The administrative department is a hidden means.

Answer: c

Financial macroeconomic regulation and control is based on the bank or monetary authority as the main body, with monetary policy as the core, with the help of various financial instruments to regulate the money supply or credit, affect the aggregate social demand and then achieve the balance of total social supply and demand, and promote the mechanism and process of the coordinated and stable development of finance and economy.

Answer]: B financial macro-control is a mechanism and process that takes the bank or monetary authority as the main body, takes monetary policy as the core, adjusts the money supply or credit with the help of various financial instruments, affects the aggregate social demand, and then realizes the balance of total social supply and demand, and promotes the coordinated and stable development of finance and economy.

Hello! The "inner stabilizer" in macroeconomics is the main argument of the Keynesian school. It refers to the ability to automatically act in the event of macroeconomic instability and to stabilize the macroeconomy.

It usually refers to some fiscal policies that have the function of automatically regulating the national economy, which can restrain further economic expansion when the economy is booming, and can prevent further economic recession when the economy is in recession, so it can automatically stabilize the economy. Fiscal policies that have the role of internal stabilizers are mainly personal income tax, corporate income tax, and various transfer payments.