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 AvatarRichard Stallard 1st Sep - 2:57pm
    "I don’t see how you can call it the fairest when it gives (on this poll) out a bigger advantage than Yes does." Joe -...
  • User AvatarConor McGovern 1st Sep - 2:56pm
    Eddie Sammon, seconded.
  • User AvatarRichard Stallard 1st Sep - 2:43pm
    @Jayne. That's why I said "pretty safe! Indeed, I suspect people vote UKIP for a variety of reasons, leaving the eu being just one. Leaving...
  • User AvatarAdam Casey 1st Sep - 2:42pm
    This is great. The referendum must be fair and must be seen to be fair. Adjusting things according to advice from the EC will almost...
  • User AvatarRichard Underhill 1st Sep - 2:39pm
    Jayne mansfield 31st Aug '15 - 3:29pm Jurisdiction is the key issue. Embassies are abroad. There is a footnote which applies to South America. The...
  • User AvatarDavid Evershed 1st Sep - 2:37pm
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