为应对2008年由美国次贷危机引发的世界性金融危机,中日两国政府采取了一系列刺激性政策措施。通过对政策的具体分析并利用潜在变量——危机强度,研究刺激政策对金融危机和宏观经济的效果,结果得出,中日两国均采取了积极的财政政策和适度宽松的货币政策。两国政府采取的经济刺激政策对应对金融危机均有所成效,危机强度的走势日本比中国更理想,中国的危机强度比较随机。中日两国的经济刺激政策都改善了GDP、就业、通货膨胀、贸易差额等主要宏观经济指标,但在中国出现了通货膨胀,在日本产生了经济衰退和通货紧缩等问题。 In response to the global financial crisis triggered by the U.S. subprime mortgage crisis in 2008, the Chinese and Japanese governments adopted a series of stimulus measures. Through the concrete analysis of the policy and the use of potential variables - the intensity of the crisis, the stimulus effect on the financial crisis and the macroeconomy is studied. As a result, both China and Japan have adopted proactive fiscal policies and moderately loose monetary policies. The economic stimulus policies adopted by the two governments have all produced results in response to the financial crisis. The trend of crisis intensity is more favorable in Japan than in China, and the crisis intensity in China is relatively random. Economic stimulus measures in both China and Japan have improved major macroeconomic indicators such as GDP, employment, inflation and trade balances. However, inflation has emerged in China and problems such as economic recession and deflation in Japan have emerged.