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
Advert



Recent Comments

  • User AvatarBill le Breton 25th May - 6:04pm
    The trouble with the years between the dot.com bust (2002) and the Great Financial Crisis (2008) was not that central banks throughout the world tried...
  • User AvatarBill le Breton 25th May - 5:49pm
    Would help if I posted the link, I suppose: http://ngdp-advisers.com/2017/04/11/fed-engineered-ice-age/
  • User AvatarBill le Breton 25th May - 5:49pm
    You are both wrong and Jenny may be onto something - Monetary Policy really is boss. Read this on the US recovery - the UK's...
  • User AvatarDavid Evershed 25th May - 5:36pm
    Have now received my thank you letter in the post today.
  • User AvatarThomas 25th May - 5:26pm
    Oh, sorry, I had some connection problems
  • User AvatarThomas 25th May - 5:25pm
    David Raw - Asquith did not provide a "push and go" leadership style. I mean there was a change in management of war industries after...