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
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  • User AvatarIan Sanderson 29th Sep - 9:19am
    'Little New Zealand' is 10% bigger than the UK and is a very efficient agricultural and especially dairy producer, which gives at something to trade...
  • User AvatarRobert 29th Sep - 8:40am
    The idea that people like Donald Trump and for that matter Nigel Farage aren't part of 'the establishment' is laughable!
  • User AvatarRobert 29th Sep - 8:28am
    Expats? Do you mean British retired or economic migrants overseas?
  • User AvatarStevan Rose 29th Sep - 7:39am
    "remarks about trading with the world are easier said than done." Yet little New Zealand with just 4 million people manages it. Go figure.
  • User AvatarManfarang 29th Sep - 6:05am
    WW2 wasn't just in Europe. Think Japan. The above article reflects the insular views that have developed in the UK in the last two decades....
  • User AvatarManfarang 29th Sep - 2:35am
    Dave Orbison "seriously?" Yes Momentum is the stuff of student politics of 40 years ago. The New Left may look new to todays young. I...