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 AvatarGlenn 6th Dec - 2:23am
    If you ask me, and since you don't I'll answer anyway, if the pro EU case is that strong upon leaving the electorate will eventually...
  • User AvatarTynan 6th Dec - 1:47am
    Does anyone think that if Scotland or leave had won, that their liberal ideals would be supporting a further referendum within the timescale/s now being...
  • User AvatarTynan 6th Dec - 1:38am
    More heat than light on both sides here. I think the problem is that the government, and opposition never thought they would lose, therefore there...
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    Paul, Good on you and the Chesterfield team. I will get down one more time if I can.
  • User AvatarAl 6th Dec - 12:28am
    Interesting article but the arguments in it equally apply to the 2014 referendum. Indeed they apply even more so because Brexit fundamentally changes the situation...
  • User AvatarStephen Johnson 6th Dec - 12:12am
    It was most unfortunate that the Referendum so poorly planned. Half of us don’t want to be in the EU. Half of us do. What...