本文将“附加预期的菲利普斯曲线”模型形式化,建立了说明中国的经济增长与通货膨胀关系的总供给模型,并以宏观经济数据对该模型作了计量检验。该模型表明,较高的通货膨胀可以提高当年的经济增长率,但是会降低下一年的经济增长率;如果本年和上一年的通货膨胀率都为零,则实际的、可持续的年经济增长率为9%左右。 In this paper, we formalize the Phillips Curve Model with Additional Expected, and establish a total supply model that illustrates the relationship between China’s economic growth and inflation. The macroeconomic data is used to measure the model. The model shows that higher inflation can increase the current year’s economic growth rate, but it will lower the next year’s economic growth rate. If both the current and the previous year’s inflation rate are zero, the actual and sustainable Annual economic growth rate of about 9%.