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 AvatarPaul In Wokingham 1st Nov - 11:25am
    The comments by Liberal luminaries and the BTL comments from all wings of the party reinforce a point that has been made many times: Mr....
  • User AvatarTerry 1st Nov - 11:25am
    I favour an overseas appointment, too. I don't see why a judge from overseas could not be given the authority to compel testimony by Parliament....
  • User AvatarTerry 1st Nov - 11:17am
    But it is the leadership, isn't it? Personally, I don't want to be publicly associated with the current leadership among my friends and acquaintances, because...
  • User Avatarpaul barker 1st Nov - 11:07am
    The low numbers of Libdem candidates in Local Byelections is terrible news, both for what it says about our morale & for the the further...
  • User AvatarJenny Barnes 1st Nov - 10:48am
    tpfkar > sometimes there is no-one from the local party who wants to stand.
  • User AvatarStuart 1st Nov - 10:34am
    @Helen Tedcastle "it beggars belief that a party which claims to be both democratic and participatory, ‘decided’ not to stand someone and that the Leader...