Backward-lookingness
noun ·Rare ·Advanced level
Definitions
- 1 the quality or state of being backward-looking uncountable
"In a sense, forward-looking monetary policy is acting, in a second-best fashion, to counter a backward-looking externality elsewhere in the economy. It is interesting to explore this notion further by considering the trade-off between the degree of backward-lookingness on the part of the private sector in the course of their wage bargaining and the degree of forward-lookingness on the part of the central bank in the course of its interest rate setting."
Example
More examples"In a sense, forward-looking monetary policy is acting, in a second-best fashion, to counter a backward-looking externality elsewhere in the economy. It is interesting to explore this notion further by considering the trade-off between the degree of backward-lookingness on the part of the private sector in the course of their wage bargaining and the degree of forward-lookingness on the part of the central bank in the course of its interest rate setting."
Etymology
From backward-looking + -ness.
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Data sourced from Wiktionary, WordNet, CMU, and other open linguistic databases. Updated March 2026.