An Empirical Analysis of the Effects on Regulation Effect of the Fiscal Expenditure in China:Based on the Comprehensive Analysis of the Fiscal Policy and Monetary Policy
构建SVAR模型分析中国财政支出的经济效应，发现货币政策变量和价格因素对评估财政政策效果至关重要，财政支出对经济增长和通胀均有调控作用，且部分挤出私人支出。
On the basis of introducing monetary supply and price factors,this paper constructs a SVAR model to analyze the economic effects of China's fiscal expenditure,and gets the following conclusions:firstly,monetary policy variables and price factors are very important to analyze the effect ion of fiscal policy;otherwise, we'll get wrong conclusions if ignoring these variables.Secondly,fiscal expenditure plays an important part not only in the control of economic growth,but also in the control of inflation,sustaining FTPL from another perspective. Thirdly,fiscal expenditure crowds out private expenditure partly.