Tag Archives: NGDP

Opinion: The case for NGDP targeting (1)

The Times is reporting that the Treasury is setting up an internal unit to look into the wisdom of revising the Bank of England’s ‘flexible’ 2% CPI inflation target. Mark Carney, the incoming Governor of the Bank who will replace Mervyn King in June, mentioned the merits of adopting NGDP (National Gross Domestic Product) level targeting in a speech last December, launching a frenzy of speculation.

Considering the enormous effect expectations of future monetary policy changes have had in places such as Japan, it may be that the talk of NGDP targeting is partly behind the …

Posted in Op-eds | 11 Comments



Recent Comments

  • User AvatarLittle Jackie Paper 1st Oct - 6:38pm
    Richard - Indeed. After reading this I was rather left with a nagging feeling that Ms Hutcheson's view of, 'ordinary life,' seemed to basically mean,...
  • User AvatarRichard 1st Oct - 6:01pm
    I don't understand this. "Politicians don’t do enough to find out what we really want, they might be doing things that I’m not aware of...
  • User AvatarCharlie 1st Oct - 6:00pm
    Knowledge is power. The board of top companies are highly meritocratic and often far more competent than most politicians or state employees. At the height...
  • User AvatarJohn Roffey 1st Oct - 5:56pm
    Perhaps also a Ministry of Happiness as in Bhutan - as wealth does not correlate with happiness :) : http://news.columbia.edu/record/2146
  • User AvatarMick Taylor 1st Oct - 5:38pm
    I found it no problem in the App store.
  • User AvatarJohn Roffey 1st Oct - 5:37pm
    @ David Allen Yes - I agree. The thing which would do what you suggest is a limited form of direct democracy that fits with...