than it was if one maintained some older idea

人们坚信
in which it's possible to have output gaps

产出缺口是有可能无法被
that are not offset by subsequent gains in output.

后续的周期性增长所填补的
To be sure, much has been made of the point at certain moments

当然可以肯定的是在某些时候
there may be some impact of non-linearity in the relationship

产出缺口和通胀或者是未预期的通胀之间
between the gap and the change in inflation or unexpected inflation.

会存在一些非线性的影响因素
If this relationship is non-linear,

而如果这两者的关系是非线性的
then it's possible that by running a smoother economy,

那么我们可以通过给经济施加很高的压力
one can run a somewhat higher-pressure economy.

使整个经济运行在一个平稳的水平上
In a world where econometricians struggle

现在的计量经济学家们都在
to estimate any kind of Phillips Curve,

用各种方法评估各种菲利普斯曲线
the idea that one can measure with any precision

如果想要精确度量