如何治理“滞胀”

金融危机后,我国经济面临着诸多新问题,其中包括"滞胀"风险。"滞胀"的成因包括国际商品市场上原材料价格上涨、经济结构转型成本上升等因素。在我国传统的调控体系中,由原材料、能源价格上涨引起的"滞胀"可以通过降低工资来应对,但工资上涨恰恰又是诱发我国"滞胀"的原因之一,而且工资上涨将是中国今后相当长一段时期内的常态。因此,如何从供给出发,降低生产成本、交易成本以消除企业成本上升给经济带来的影响就成为今后我国设计宏观调控政策必须解决的重要问题。

How to Deal with Stagflation

China’s economy is facing many new problems,in which the most prominent problem is inflation and the ensuing stagflation.Stagflation is actually the type of cost-push inflation,its causes include price rising of raw materials in the international commodity market and cost rising caused by environmental protection and energy efficiency.The particularity of China lies in: in the traditional control system,price rising of raw materials and energy can be dealt with by reducing wages,but wage rising is precisely one of causes of China’s current stagflation and wage will continue to rise in the future.As a result,China’s macro-economic control policy should be redesigned based on the supply so as to eliminate fundamentally the impact on economy caused by cost rising by the way of reducing production costs,transaction costs and so on.