Tagged: UK economics

Carney endorses NGDP level targeting! - The Dismal Science

James Zuccollo Dec 12, 2012

Mark Carney’s speech last night: For example, adopting a nominal GDP (NGDP)-level target could in many respects be more powerful than employing thresholds under flexible inflation targeting. This is because doing so would add “history dependence” to monetary policy. Under NGDP targeting, bygones are not bygones and the central bank is compelled to make up [...] … Read More

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