财政政策与货币政策协调配合研究  

Study on the Coordination and Cooperation of Fiscal and Monetary Policies

作　　者：苏京春 玛穆尔别克·杰恩斯 Su Jingchun;Mamuerbieke Jieensi

机构地区：[1]中国财政科学研究院

出　　处：《财政科学》2024年第11期60-75,共16页Fiscal Science

摘　　要：本文从财政货币基础理论出发,分析了财政政策与货币政策协调配合的传导机制和工具组合,认为财政货币政策协调配合的理论演变大体可划分为四个阶段;两大政策的联动领域主要涉及国债、财政存款和外汇储备三大经常性联动领域,以及政策性金融、特别国债、金融风险处置等机动性联动领域;财政政策工具与货币政策工具可通过“松紧”搭配和主被动抉择模式实现不同效果,以精准达成调控目标。最后,本文结合我国宏观调控过程中财政货币政策协调配合实践提出了对策建议。This paper starts from the basic theories of fiscal and monetary policies,analyzing the transmission mechanisms and tool combinations for the coordination and cooperation of these policies.Based on this analysis,it argues that the theoretical evolution of fiscal and monetary policy coordination can generally be divided into four stages.The areas of interaction between the two policies primarily involve three regular domains:govern-ment bonds,fiscal deposits,and foreign exchange reserves.Additionally,there are flexible domains of interac-tion,including policy-based finance,special treasury bonds,and financial risk resolution.Fiscal policy tools and monetary policy tools can achieve different combinations and paradigms through adjustments in"tightness"and active or passive choices,thereby better targeting relevant regulatory objectives.Considering the issues faced by the coordination of these two policies in the practice of macroeconomic regulation in China,this paper offers corresponding policy recommendations from both aggregate and structural perspectives.

关 键 词：宏观调控 财政政策 货币政策 

分 类 号：F812[经济管理—财政学]