Question

the delay between the time at which an event occurs and the time at which policymakers become aware of it is called

Answer 1

A recognition lag is the period of time between when a problem first appears and when policymakers become aware of it.

What Is Recognition Lag?

The recognition lag is the interval of time between the occurrence of a shock to the economy, such as a sudden boom or bust, and the moment when economists, central bankers, and the government become aware of it. Along with implementation lag and response lag, which are two additional time lag measurements in an economy, the recognition latency is investigated. Two key factors account for recognition lags: first, the fact that economic shocks, like other economic processes, require time to play out; second, the fact that measuring economic activity requires time.

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