The time inconsistency problem in monetary policy arises when policymakers have an incentive to deviate from their announced policy once economic agents have formed expectations.
货币政策中的时间不一致性问题出现在政策制定者一旦经济主体形成预期后，就有动机偏离他们宣布的政策。
阅读就是抵抗；写作就是反叛。
艺术是可见与不可见之间的桥梁。
The beauty of mathematics only shows itself to more patient followers.
方程式对我更重要，因为政治只看眼前，而方程式是永恒的。
Good design is invisible; you only notice it when it's bad.