| 单词 | non-inflationary growth |
| 释义 | non-inflationary growth Growth of economic activity without any tendency to inflation of prices. This is sometimes taken as the ideal target for macroeconomic management. It can be criticized as a target from various viewpoints. Some economists sceptical of the ability of the authorities to prevent minor fluctuations in the rate of inflation urge the danger from the liquidity trap if prices fall as indicating that a small positive average rate of inflation is a more sensible target than a mean inflation rate of zero. Others have suggested that a modest inflation rate may actually be good for growth, though believers in rational expectations doubt this. Even those who accept non-inflationary growth as a long-run target fear that a very large cost in terms of real output may attach to attempting to reach such a target too rapidly. |
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