The time inconsistency problem in monetary policy arises when policymakers have an incentive to deviate from their announced policy once economic agents have acted on it.
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根据宣布的政策采取行动后，就有动机偏离该政策。
The best way to guarantee a loss is to quit.
The beauty of an algorithm lies in its simplicity and efficiency.
The causal model is the key to making sense of the world.