随着物价的持续上涨,学界和政府对经济形势的判断日趋统一,紧缩性的宏观经济政策相继出台,并已初见成效。但是,短期问题的解决似乎不能消除人们对长期经济增长的担忧,投资膨胀和消费紧缩的双通迷局加大了政策操作的难度。深入分析可知,市场失灵的深层根源是政府失灵。可以考虑的政策安排是将总量政策与结构政策、经济手段与行政手段搭配使用,以期弱化看得见的手”对市场的扭曲,降低宏观调控成本。 As prices continue to rise, academics and the government are increasingly unanimous in their judgment of the economic situation and the tightening of macroeconomic policies have been promulgated one after another and initial success has been achieved. However, the solution to the short-term problem does not seem to be able to eliminate people’s worries about the long-term economic growth. The dilemma between the expansion of investment and the tightening of consumption has exacerbated the difficulty of policy operations. In-depth analysis shows that the root cause of market failure is the government failure. The policy arrangement that can be considered is to use the aggregate policy with structural policies, economic instruments and administrative measures in an attempt to weaken the visible hand-distortions in the market and reduce the costs of macro-control.