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 AvatarAlex Macfie 11th Feb - 12:56pm
    @David Raw: I've been saying such for a long time; in particular I have strongly criticised the party's 2014 Euro election strategy, which was wrong...
  • User AvatarMick Taylor 11th Feb - 12:45pm
    There is absolutely no evidence that s0-called 'good' candidates poll better except where they have an incumbency factor - and they don't get that till...
  • User AvatarJames 11th Feb - 12:36pm
    I've got a certain degree of sympathy for Corbyn; he's faced with implaccable uncompromising opposition from the majority of his MPs towards most of his...
  • User AvatarDav 11th Feb - 12:14pm
    And of course manifesto commitments are always kept and delivered on by single party administrations, aren’t they… The point of democracy being that if they...
  • User AvatarPeter Parsons 11th Feb - 11:59am
    "Yes, but the essential difference is that the horse-trading goes on before the election and produces a manifesto which all in the party sign up...
  • User AvatarRobert Armour 11th Feb - 11:52am
    Barry You obviously no nothing about the pub industry, and should reframe from making comments or observations in matters that you no nothing about.