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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    Abolition of the monarchy is exactly the sort of thing we should, as Liberals, should support. And it is exactly the sort of thing that...
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    Sounds great, at the very least in theory.
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    I very much like the sentiment of the article, but as a former tax adviser I don't agree with some of the details. I didn't...