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

  • Katharine Pindar
    Indeed you are right, Matt.about the need for constant challenge. But reasoned argument is often not listened to: as with the protester against the migrant cros...
  • Michal Simon
    Reform is winning because too much of British politics has spent years telling people not to trust their own eyes. That has to stop. Our advantage as libe...
  • Michal Simon
    Rose is right. Politics is not a dance. It is a fist fight. Often outside the ring, out in the street. Even the Greens have worked that out by now. And if...
  • Neil Sandison
    Very good article education and skills training used to be one of our strong points .time to start listening and delivering for those left behind by the other p...
  • Chris Moore
    @Tristan Ward: The London LDs and the Camden party need to send their own calls for help to all other local parties in London and all the local parties in th...