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 AvatarJRC 21st Sep - 12:48am
    Rebecca Hanson, That is completely at odds with my experience of the period and completely at odds with what Thatcher and her ilk said at...
  • User AvatarTim13 21st Sep - 12:22am
    Paul Barker No, your proposition doesn't make sense. Everyone has to be reselected, MP, or PPC. An advert has to go out, under Party rules...
  • User AvatarAllan 21st Sep - 12:11am
    Just my 2 cents First yes we must with haste give Scotland a fair deal Second how many voters do you think in England will...
  • User AvatarMichael Kilpatrick 21st Sep - 12:11am
    Yorkshire Guidon, as someone brought up in Yorkshire (in Sheffield Hallam, to be more precise) I would equally love to see a directly elected and...
  • User AvatarRichard Dean 21st Sep - 12:04am
    For many jobs, there are some criteria which help set the pay rate. Some examples of criteria are: > number of hours/days per week >...
  • User AvatarJohn Innes 20th Sep - 11:36pm
    @Tsar Nicholas Nick Clegg is a particularly bad leader!