现代货币理论(MMT)的逻辑辨析与政策启示  

Logical Analysis and Policy Enlightenment of Modern Monetary Theory(MMT)

作　　者：陈鸿祥[1] CHEN Hongxiang(Yancheng Central Sub-branch of the People's Bank of China,Yancheng,Jiangsu 224001)

机构地区：[1]中国人民银行盐城市中心支行,江苏盐城224001

出　　处：《上海立信会计金融学院学报》2021年第3期3-15,共13页Journal of Shanghai Lixin University of Accounting and Finance

摘　　要：文章首先归纳梳理现代货币理论(MMT)的理论框架,阐释了MMT的三大理论支柱及其衍生观点;然后理性探寻MMT的逻辑辨析,既肯定了MMT的思想贡献,也指出了MMT的理论局限。在此基础上,从货币政策传导机制、财政政策配置效率两方面,对中国宏观调控政策进行审慎评估;最后,提出中国宏观调控的政策启示,即通过精细化改进调控政策、避免陷入极端困境,巩固中国经济修复领先全球趋势。The author summarizes and sorts out the theoretical framework of modern monetary theory(MMT),and explains the three theoretical pillars of MMT and their derived views.Then,the author rationally explores the logic analysis of MMT,affirming the ideological contribution of MMT and its theoretical limitations.On this basis,the assessment of China's macro-control policies is made cautiously from the two aspects of monetary policy transmission mechanism and fiscal policy allocation efficiency;finally,the author puts forward the policy implications of China's macro-control,that is,by refining and improving the control policy,avoiding falling into extreme difficulties,and consolidating the leading global trend of China's economic recovery.

关 键 词：现代货币理论 宏观调控 逻辑辨析 

分 类 号：F820[经济管理—财政学]