| Abstract | Through building up DSGE model with financial accelerator and contract term, this paper brings out a new method for measuring deviations between fictitious economy and real economy. This method calculates output and investment multiplier based on IRFs and brings about deviation index which reflects differences in economic structure and resources statues. We find that short-term deviation is not related to the development of the countries, the deviations are common among all the countries under monetary policy. In long-term, deviations in developed countries are lower than developing countries, which means that the two kind of economies have smaller fictions and higher flexibilities, deviations in developing countries are higher, the two kind of economies have bigger fictions and lower flexibilities. Due to the faster growth and the limitations on fictitious economy, China has the lowest deviation, and it has great potential. The developed countries should prevent serious deviations; the developing countries should balance the regulations and free development, improve the restrictions in credit, fix the twist in price and capital, and push the financial reform forward, decrease the transmission fictions and increase the flexibilities between fictitious economy and real economy, realize the coordination between them. |