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Is nominal GDP-level targeting coming to the U.K.? The dream of Keynesians for years, NGDP...

Is nominal GDP-level targeting coming to the U.K.? The dream of Keynesians for years, NGDP targeting has the central bank focusing on a certain level of economic activity rather than inflation as a goal, and current BOC, but soon-to-be BOE Governor Carney spoke admirably of the tool yesterday.
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Comments (3)
  • Machiavelli999
    , contributor
    Comments (829) | Send Message
     
    Wow, saying that NGDP targeting is a dream "Keynesians" illustrates the ignorance of the headline writer. Keynesians do not like NGPD targeting, it's monetarists who like it.
    12 Dec 2012, 11:31 AM Reply Like
  • wyostocks
    , contributor
    Comments (8857) | Send Message
     
    Sure, it worked out so well for the USSR that all capitalist countries should revert to the central planning model.
    12 Dec 2012, 11:41 AM Reply Like
  • Machiavelli999
    , contributor
    Comments (829) | Send Message
     
    This has nothing to do with central planning. It's actually less central planning because if implemented monetary policy will now be run strictly according to an NGDP rule rather than on the whims of central bankers.
    12 Dec 2012, 11:57 AM Reply Like
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