output gap

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Related to deflationary gap: Inflationary gap

output gap

[′au̇t‚pu̇t ‚gap]
(electronics)
An interaction gap by means of which usable power can be abstracted from an electron stream in a microwave tube.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.
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This 3 percent limit, however, was totally insufficient to fill the deflationary gap created by corporate debt repayment and increasing household savings.
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This means the entire savings of the household sector together with the debt repayment of the corporate sector have become the leakage to the income stream, effectively becoming the economy's deflationary gap. This gap is nearly 8 percent of Japan's GDP.
Instead of losing half its GDP and 40 percent of its money supply as the United States did under President Hoover seventy years ago, Japan has managed to maintain stability for both because of the prompt fiscal response that filled the deflationary gap each year before the vicious cycle was allowed to start.
economy has sustained so far is probably less than the 8 percent GDP gap that Japan is facing now, any deflationary gap left unfilled can start a vicious cycle that can make life difficult for everybody.
Japan's lesson for America: a comparison of deflationary woes
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