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宏观经济学之古典和凯恩斯两大传统,根本分野不在于别的方面,而在于市场能否连续出清假定上。无论是新古典模型的市场连续出清假定,还是凯恩斯主义的市场不能连续出清假定,都隐含行为主体对于价格敏感,即硬预算约束的假定。硬预算约束下价格变量和数量变量相互依赖、互为决定,但软预算约束下价格变量与数量变量之间的联系就断裂了;软预算约束下行为主体对于数量变量敏感,对于价格变量则不敏感。因此软预算约束下各种冲击的传导机制和冲击效应就会不同于硬预算约束下的情况,财政政策、货币政策的传导机制和政策效应也会不同于硬预算约束下的情况。由于转轨经济普遍存在软预算约束,因此以主流宏观经济理论来解释转轨经济的宏观经济现象、指导转轨经济的宏观调控,难免出偏差。
The two major traditions of macroeconomics and Keynes, the fundamental difference is not the other aspects, but rather whether the market can be clear on the assumption of continuity. Whether the neoclassical model of the market continually clear the assumption, or Keynesian markets can not be continuously cleared assumptions, are implicit in the behavior of the main body for the price-sensitive, that is, the assumption of hard budget constraints. Under hard budget constraints, the price variables and quantity variables depend on each other and are mutually dependent, but the link between the price variable and the quantity variable under the soft budget constraint breaks down. The subject under the soft budget constraint is sensitive to the quantity variable but not the price variable sensitive. Therefore, the conduction and impact effects of various shocks under the soft budget constraint will be different from those under hard budget constraints. The conduction mechanism and policy effect of fiscal policy and monetary policy will also be different from those under hard budget constraints. Due to the soft budget constraint prevailing in the transition economy, macroeconomic theory of the transitional economy is explained by the mainstream macroeconomic theory to guide the macroeconomic regulation and control of the transitional economy, which is inevitable.