ratchet effect
noun
intermittent growth, increase, expansion, or the like: the ratchet effect of defense expenditures.
Origin of ratchet effect
1First recorded in 1965–70
Words Nearby ratchet effect
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024
How to use ratchet effect in a sentence
VAT rates show little evidence of a ratchet effect during the era of price stability.
British Dictionary definitions for ratchet effect
ratchet effect
noun
economics an effect that occurs when a price or wage increases as a result of temporary pressure but fails to fall back when the pressure is removed
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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