通货紧缩与通货膨胀一样是影响现代经济发展的两大难题。自1997年以来,通货紧缩已经成为世界性的顽症,其对经济的杀伤力比通货膨胀有过之而无不及。目前理论界对通货紧缩的成因和标准尚未达成一致看法,各国政府在实践中也没有特别有效的对付通货紧缩的办法和对策。一般意义上的通货紧缩是指由于货币供应量的减少或其增幅滞后于生产增长的幅度,致使市场上对商品和劳务的总需求小于总供给,从而出现物价总水平的下降。但单纯的物价下降并不一定 Deflation and inflation are two major problems affecting the development of the modern economy. Deflation has become a worldwide chronic problem since 1997, and its lethality to the economy has gone beyond inflation. At present, the theoretical circles have not reached a consensus on the causes and standards of deflation. Governments in practice have not had a particularly effective way to deal with deflation and countermeasures in practice. Deflation in the general sense refers to the general decline in the general price level as a result of the decrease of the money supply or its increase lagging behind the growth of production, resulting in the total aggregate demand for goods and services being less than the total supply in the market. But the price drop is not necessarily pure