Glossary


한눈에 알아보는 경제/금융 용어

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IN THE NEWS


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RRatchet effect - 톱니 효과

소득 수준이 높아지고 나면, (소득 수준이 낮아지더라도) 그 이전으로 돌아가기 힘든 현상

Ratchet effect is an economic analogy that refers to a process that is difficult to reverse once the process is underway or has been completed. In other words, it's a process that moves easily in one direction but not the other. This effect on the economy refers to increases in production, prices, etc.