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 AvatarClootie 29th Jul - 12:07am
    "Good sound bites without much substance" I think you will have a touch of déjà vu
  • User AvatarJoe Otten 28th Jul - 11:44pm
    There is an issue that mental health was typically funded by block grant as other areas were moving to per patient, and that mental health...
  • User AvatarJohn Dunn 28th Jul - 11:44pm
    I can fully respect someone for reviewing their party affiliation based on an appraisal of policy. You say : "I have always believed that we...
  • User AvatarAlex H 28th Jul - 11:40pm
    Welcome Jakob! I'm glad you took your time in weighing up your views and beliefs before leaving UKIP and in joining the Lib Dems, and...
  • User AvatarTed Logan 28th Jul - 11:26pm
    Welcome to the Liberal Democrats, Jakob. You are absolutely right that our party is a broad church, and we are very welcoming of all views...
  • User AvatarRichard Underhill 28th Jul - 11:19pm
    Peter, Good to hear from you. The point is that this man was in charge of the rules for conduct and behaviour. Their Lordships know...