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Economics Brief
經(jīng)濟(jì)學(xué)簡介
Six Big Ideas: The natural rate of unemployment
六大經(jīng)濟(jì)學(xué)原理：失業(yè)的自然比率
Central bankers' holy grail
央行銀行家的圣杯
Policymakers have spent half a century in search of the natural rate of unemployment. The fifth in our series big economic ideas.
決策者為尋找失業(yè)的自然比率花了半個(gè)世紀(jì)。重大經(jīng)濟(jì)思想系列之第五篇。
Why does unemployment exist?
失業(yè)為什么存在？
If there is a central question in macroeconomics, this is it.
如果說宏觀經(jīng)濟(jì)學(xué)有一個(gè)中心問題，這個(gè)問題就是。
There are few bigger wastes than the loss to idleness of hours, days and years by people who would rather be working.
很少有比寧愿工作的人幾個(gè)小時(shí)、幾天乃至經(jīng)年累月年地?zé)o所事事的損失更大的浪費(fèi)了。
Unemployment can ruin lives, sink budgets and topple governments.
失業(yè)能夠毀滅人生，埋葬預(yù)算、掀翻政府。
Yet policymakers do not wage all-out war on joblessness.
然而，決策者并不對失業(yè)全面開戰(zhàn)。
Most, like the Federal Reserve, America's central bank, target what is known as unemployment's “natural” rate, at which inflation is stable.
它們大都是像美國央行——美聯(lián)儲那樣，把目標(biāo)鎖定在所謂的失業(yè)的“自然”比率(unemployment's “natural” rate)，即通脹在其上是穩(wěn)定的那個(gè)比率上面。
The importance of this concept is hard to overstate.
這一概念的重要性怎么強(qiáng)調(diào)都不為過。
The Fed's argument for its recent interest-rate rises, for example, hinges on stopping unemployment from falling too far beneath the natural rate.
例如，美聯(lián)儲支持其近期加息的論據(jù)就是圍繞著阻止失業(yè)率降到自然比率之下太遠(yuǎn)的地方而展開的。
Yet the natural rate is in many respects an article of faith, always sought but never seen.
然而，這種自然比率在很多方面就像是一種信念，總是被苦苦尋求，卻從未被一睹其真面目。
Where does it come from?
它來自何方？
There are several reasons why unemployment cannot simply be eradicated fully.
有多個(gè)為什么失業(yè)不能被簡單地一筆勾銷的原因。
It takes time for people to move from one job to another: this is said to cause “frictional” unemployment.
人們變換工作需要時(shí)間：據(jù)稱，這引發(fā)“摩擦性”失業(yè)(frictional unemployment)。
譯文來源考研英語時(shí)事閱讀
