Friday, September 28, 2012

(One of) The Problem(s) with Expectations


Nick Rowe is good, but:
...the Short Run Phillips Curve. If the SRPC is (believed to be) steep, an increase in (expected future) NGDP will mean a large increase in (expected) inflation and a small increase in (expected) real growth. If the SRPC is (believed to be) flat, an increase in (expected future) NGDP will mean a small increase in (expected) inflation and a large increase in (expected) real growth.

(omg)

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2 comments:

  1. Nick RoweSeptember 28, 2012 at 5:32 PM

    It wasn't *that* bad, was it?

    Maybe I should have just repeated my first sentence, sticking "expected" in everywhere?

    ReplyDelete
  2. The ArthurianSeptember 29, 2012 at 6:48 PM

    Hi Nick.
    The paragraph makes your point I suppose, but it is a bumpy read. Maybe it's just me but after the first three or four (parentheticals) I start looking for the punctuation marks rather than the meaning of the words. (Every time I read it.)

    ReplyDelete

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