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



Recent Comments

  • User AvatarDavid Evershed 1st Aug - 1:42am
    Globalisation has meant that products once made in the Uk are now often made in Asia and services, like computer programming, once provided by UK...
  • User AvatarDavid Allen 1st Aug - 1:13am
    We get a lot of these LDV "Labservatives go crazy in Little Wotting" articles. Invariably, before we can understand what is really going on, we...
  • User AvatarMatGB 1st Aug - 12:57am
    Mike, that's part of the agreement with the Tories, although they haven't agreed to it yet they have agreed to run a consultation on it.
  • User AvatarRichard Dean 1st Aug - 12:43am
    @James Brough No, the LibDems were not known as the Liberals then, nor are they the Liberals now. The Liberals still exist as a separate...
  • User AvatarMike Drew 1st Aug - 12:40am
    Why not scrap the Cabinet system and run by proportionate committees - no need to worry about joint administrations. Back in the days of Avon...
  • User AvatarDavid Allen 1st Aug - 12:39am
    Clegg should have been forced out for that and for any number of other errors and betrayals. But he wasn't, because too many of us...