sacrifice

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Related to Sacrifice Ratio: Okun's law

sacrifice

(sak′rĭ-fīs″) [L. sacrificare, to make or offer a sacrifice]
1. To give up or yield something of value.
2. To experience a loss.
References in periodicals archive ?
The sacrifice ratio measures the cumulative output loss under disinflation for each percentage point reduction in the inflation rate, formally as in equation (6):
If the formation of rational expectation plays an important role in price-setting, the degree of policy credibility may influence the sacrifice ratio.
Estimates of the sacrifice ratio decline for most countries during inflation targeting periods.
In countries with low inflation, the short-run Phillips curve will be flat and the sacrifice ratio will be large.
Second, the Phillips curve approach constrains the sacrifice ratio to be the same for all disinflations within a time series.
Ball (1994) shows that the negative effect of initial inflation on the sacrifice ratio is not robust once other determinants of the sacrifice ratio are included.
The decline in output is more spread out with a gradual disinflation, but the total cost in lost output and the sacrifice ratio are the same as with a cold-turkey disinflation.
229 ff), who have a section on the sacrifice ratio as if it were already a welt-known term.
Armed with the concept of a sacrifice ratio and some idea of what it is trying to measure, how straightforwardly can one apply this knowledge to the real world?
This present study replicates Ball's sacrifice ratio estimates quite closely, but not exactly, because of revisions to the data.
ij] is the sacrifice ratio for the ith disinflation episode in country j, and [DURINF.
j]) now enter the sacrifice ratio equation directly.