当NGDP在某年低于目标增长率时,中央银行会在接下来数年想法弥补:实际上就是通过控制名义支出以达到目标。
If nominal GDP fell below the target growth rate in one year, central Banks would seek to make up for that in subsequent years - in effect, following a path for overall nominal spending.
决策者可能隐蔽的选择更高的通货膨胀——这会增加名义上的收入,而不是采取削减支出和减少债务或是不履行职责这样痛苦的手段。
Policymakers might secretly prefer to do that through higher inflation, which lifts nominal incomes, than through the painful processes of cutting spending and retiring debt, or default.
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