This creates a ratchet effect.
正是这种情况导致了棘轮效应。
We argue that the existence of ratchet effect is one of the reasons that result in the lack of sensitivity of compensation and performance.
导致报酬与业绩间缺乏敏感性的原因之一是报酬棘轮效应的存在。
The ratchet effect is a phenomenon induced in conflict between entruster and agent who pursue different objectives in the entrustment-agency relation.
棘轮效应是委托代理关系中委托人与代理人追求目标发生冲突时产生的一种现象。
In the meantime, the "dual ratchet effect" of consumer demand and price level triggers stable rise in real consumer demand, and the "wealth effect" strengthens the trend.
同时，消费需求与物价水平的“双棘轮效应”促使实际消费需求稳步增长，“财富效应”强化了消费需求增长趋势。
In the meantime, the "dual ratchet effect" of consumer demand and price level triggers stable rise in real consumer demand, and the "wealth effect" strengthens the trend.
同时，消费需求与物价水平的“双棘轮效应”促使实际消费需求稳步增长，“财富效应”强化了消费需求增长趋势。
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