Sentences with phrase «cyclical fluctuations around»

But even in those countries where a «dual mandate» was, and is, in operation, policymakers overwhelmingly would have acknowledged that real activity goals are about managing, to the extent possible, cyclical fluctuations around a potential output path.

But even during this decade of underperformance, Japan has gone through cyclical fluctuations around that trend, and it is at least clear that they are in the upward phase of one of these cycles at the moment.