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 AvatarPaul Pettinger 18th Apr - 2:24am
    Sir Archibald Sinclair didn't speak of austerity, lowering taxes or marketisation, let alone four cornered Liberalism, but of employment for all and building the welfare...
  • User AvatarEddie Sammon 18th Apr - 1:58am
    Great post by Andrew Suffield. It is both practical and principled.
  • User AvatarA Social Liberal 18th Apr - 1:33am
    Thomas Unlike malc - I don't think it is a fair point at all. As an officer in the armed forces of a country in...
  • User AvatarAndrew Suffield 18th Apr - 1:27am
    Presumably those that find means testing acceptable will be looking forward to extending “pay or die” to these people in the not too distant future…...
  • User Avatarmalc 18th Apr - 1:06am
    Thomas Robinson: Fair point and one it's hard to argue with. Also the UK has military base's in Cyprus, Germany, Holland, Gibraltar, Norway etc. Perhaps...
  • User AvatarDavid Allen 18th Apr - 12:56am
    Here's Simon Jenkins's piece: http://www.theguardian.com/commentisfree/2014/apr/16/janus-faced-george-osborne-defied-stereotype-triumphed