Abstract: Along with the transition of society's principal contradictions，the imbalance and inadequate developments became the core issues of reform, thus the effect of overall policies gradually declined while the effect of structural policies was increasingly highlighted. Therefore, this paper employed a variance decomposition method to analyze the effectiveness of overall monetary policies and structural fiscal policies on agriculture prices, and then utilized a binary choice model to compare the asymmetries of macro-economic policies. The main conclusions are as follows: firstly, the effects of overall monetary policies and structural fiscal policies on agriculture prices show significant differences. The latter can control the prices of vegetable and meat well, and the former can affect price of rice better; secondly, the effects of macro-economic policies on agriculture prices show significant asymmetry. It is hard to control when the prices rise while it is relatively easy to control when the prices decline, which means the government needs to control agriculture prices separately to remain flexible and accurate.

Keywords: Monetary Policy; Fiscal Policy; Agriculture Price; Binary Choice Model