膨胀缺口又称通货膨胀缺口,是指在充分就业经济中投资超过储蓄的差额,即社会总需求超过社会总供给的差额。表现为社会对商品和劳务需求的价值超过在充分就业条件下所能创造的国民生产总值。例如,在充分就业条件下,国民生产总值为20000亿美元,而此时的社会总需求即总投资加上总消费为22000亿美元,即意味着存在2000亿美元的通货膨胀缺口。这种差额或缺口会导致物价上涨。由于这一差额往往又是由通货膨胀造成的,故称为通货膨胀缺口。
1981 - 83年一个类似水平的产出缺口(7%左右)引起通货膨胀率下降了6个百分点。
A comparable gap in 1981-83 produced a drop in core inflation of six percentage points.
他们不是按照传统根据产出缺口来推测通货膨胀率,而是反过来:从通货膨胀的走势来推测产出缺口。
Rather than follow the conventional route of deriving an inflation forecast from an estimate of potential output, they do the opposite: they infer the output gap from the behaviour of inflation.
然而甚至是Ashworth先生也承认,核心通货膨胀率和工资增长水平都还没下降到产出缺口和失业率这两者似能预测的那种程度。
Yet even Mr Ashworth admits that core inflation and wage growth have not fallen as much as the output gap and unemployment would seem to predict.
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