身边的经济学·社会常识英语30篇（2）

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通缩预期与推迟消费

When people expect prices to fall, they often delay major purchases hoping for lower costs later.
This behavior reduces current demand, which can deepen deflationary pressure across the economy.
Firms respond by cutting output, wages, and investment, worsening the cycle further.
Central banks find it harder to stimulate spending when nominal interest rates hit zero.
Households with debt suffer more because falling prices increase real debt burdens.
Prolonged deflation expectations erode business confidence and long-term planning horizons.
Index-linked wages or contracts can help buffer workers but are uncommon in many sectors.
Media reports and past price trends shape how strongly consumers internalize deflation fears.
Fiscal stimulus may be more effective than monetary policy during entrenched deflationary expectations.
Breaking the cycle requires restoring confidence that prices will stabilize or rise modestly.