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
Advert



Recent Comments

  • User AvatarRoland 24th Jul - 12:55am
    "Bill Gates and others started the computer revolution" Clearly memory getting a little befuddled. Gates founded Microsoft in 1975 at the age of 19. The...
  • User AvatarKatharine Pindar 24th Jul - 12:54am
    'Liberalism is completely other': I agree with you, Adam Cain, in that I think the Liberal Democrats are completely different both from the Tories and...
  • User AvatarMike S 24th Jul - 12:04am
    @ Katharine "Do the two largest parties anyway have clear identities?" Hi Katharine: Clear enough for the vast majority of the population to vote for...
  • User AvatarMichael BG 23rd Jul - 11:44pm
    @ Adam Cain “The point is that it is the role of the citizen that defines our approach;” I don’t agree. This sounds like Blairism...
  • User AvatarMalcolm Todd 23rd Jul - 11:23pm
    John Littler 22nd Jul '17 - 7:43pm "It is worth remembering that in most countries, major constitutional change requires a threshold based on vote percentage...
  • User AvatarJeff 23rd Jul - 11:12pm
    In the EU referendum the official Vote Leave campaign used the strap line: “Take Back Control”. They frequently unpacked this as “take back control of...