Study On The Effectiveness Of China's Macro-Control On Smoothing Cyclic Fluctuation

China has completely experienced several economic cycles since the reform, and in the pace of the economic fluctuation, China's macro-control has been adjusted several times. Macro-control means to smooth the cyclic fluctuation of the economy, however, because of the difficulties of choosing the politic tools, time points and strength, the effectiveness of the macro-control is still limited, and it often brings some reversal effects. Nowadays, China is in the fifth economic cycle. Study on the effectiveness of the macro-control not only helps to solve new problems arising in new period, but also brings benefits to perfect the system of macro-control and market economy.The paper studies the theories of the effectiveness of macro-control, and claims three standards of how to measure the effectiveness of macro-control. They are the distance of actual effect from the expectant effect, cost of macro-control and the time lag. After comparing and analyzing the effectiveness of the past macro-control in each economic fluctuation with the three standards, the paper raises out deep reasons from three aspects: the capability of the government's macro-control, the obstruction of the micro parts, and the effect of time lag. At last, suggestions are given from two sides: strengthen the ability of government's macro-control and improve the micro foundations.