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 AvatarMark Argent 22nd Dec - 2:51am
    If we do find ourselves in the position of being the king-makers, might the argument not be partly pragmatism (deciding which party would offer a...
  • User Avatarstuart moran 22nd Dec - 2:04am
    Sarah Noble So there is one based on your (not unbiased) view. Looking at the odds, the best I can see are 5/1 on for...
  • User Avatarmalc 22nd Dec - 1:57am
    Sesenco It really isn't that complicated. I was in Withington when the LibDems won the seat, it has a large student population and nearly all...
  • User AvatarRichard Dean 22nd Dec - 1:36am
    Re-train to control the machines!
  • User AvatarSarah Noble 22nd Dec - 1:02am
    This is the thing: people are just looking at David's tiny majority, and the fact it's Bradford, and assuming we've lost already. We still hold...
  • User AvatarChris Manners 22nd Dec - 12:44am
    That was a by-election. A win over Labour by only 365 votes in Bradford East last time looks too small.