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 AvatarPeter Kemp 2nd May - 8:16am
    In out, in out, shake it all about ...... and we do the hokey cokey .......... AKA the current Conservative governments idea of policy !!!
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    Andrew Neil made the point that this looks like at least a 3-way split in the Tories. EU In; ECHR in. EU Out; ECHR in....
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    'They hired a bus to take us over.' Reminds me of what used to be routine at Heathrow going from a plane to the terminal....
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    There is life after the Presidency. The worldwide elimination of Guinea-worm was well worth achieving Jimmy Carter should be a candidate for sainthood. Not a...
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    We shall miss this man as a measured and attractive man and personality , a man of intelligence and good humour , and the best...
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    Very positive this , deserves to translate in votes at the ballot box ! Willie and the Labour and Conservative Leaders are all correct on...