Intuitively, the price reduction of goods is the result that buyers expect, which helps the market to clear. However, prices are also a signal of economic prosperity, and their continued low levels will in turn affect the expectations of residents and businesses. Moderate positive price growth is essential for macroeconomic stability. In the case of continuous negative prices, the rate of return on cash is prominent, and the micro main asset side advocates “cash is king”. The willingness to save has increased significantly, and the deposit structure has become regular. In addition, when the price falls into a low cycle, the confidence of micro subjects often falls, and the “animal…