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 AvatarRichard Dean 23rd Apr - 9:29pm
    @John Dunn What is your point?
  • User AvatarSuzanne Fletcher 23rd Apr - 9:25pm
    for John Dunn who says " To aid your thinking, remember that today is St Georges Day. For Ukip MEP think (St George), and for...
  • User AvatarGeorge Potter 23rd Apr - 9:11pm
    I'm just concerned as to the fact that there's apparently someone working in HQ who considers the welfare cap to be an achievement. Perhaps next...
  • User AvatarJohn Roffey 23rd Apr - 9:02pm
    Although there is significant support for Nick Clegg in the above comments - the true and final measure of a leader's qualities is his or...
  • User AvatarJohn Roffey 23rd Apr - 8:29pm
    When I was a member of the Party [resigned some months ago] I did contribute to the Members Forum and was surprised how few did...
  • User AvatarStephen Hesketh 23rd Apr - 7:56pm
    Can someone 'moderate' my earlier comment - and for goodness sake done something about the filter that doesn't like any variant of fracking