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本文通过对财政政策挤出效应的全面论述,归纳了四种财政挤出效应:利率机制的挤出效应、汇率机制的挤出效应、供给限制的挤出效应以及预期机制的挤出效应,并对前一阶段我国所实施的积极财政政策的挤出效应进行了分析,认为要提高财政政策效力,减少挤出效应,应该从供给方面入手,而不应该一味地扩张总需求,否则将导致经济“大落”(经济紧缩)之后的“大起”(通货膨胀)。
This paper summarizes four kinds of fiscal crowding-out effects through the comprehensive exposition of the fiscal policy crowding-out effect: the crowding-out effect of the interest rate mechanism, the crowding-out effect of the exchange rate mechanism, the crowding-out effect of the supply restraint and the crowding-out effect of the expected mechanism The author analyzes the crowding-out effect of the positive fiscal policy implemented in our country in the previous stage, and believes that to improve the effectiveness of fiscal policy and reduce the crowding-out effect, we should start from the supply side rather than blindly expand the total demand, otherwise, it will lead to the economy “Big fall ” (after the economic contraction) “big rise ” (inflation).