Clik here to view.
NGDP not less reliable than RGDP (or inflation), but it’s not relevant anyway
A James Alexander post There is growing debate about the potential introduction of NGDP targeting or, rather, a debate that had quietened down seems to building up steam again in Europe and in the...
View ArticleUK Socialists show interest in NGDP Targeting, BoE proxy moans
A James Alexander post Scott Sumner is both warming up to Bernie Sanders and getting excited by growing signs of acceptance for Market Monetarism. In the UK we seem to be getting both things in the one...
View ArticleA French assessment of NGDP Targeting misses the point
A James Alexander post A few days ago we contrasted the bad news of Draghi disappointing markets after the December ECB Board meeting with the good news of the growing debate on NGDP Targeting in the...
View ArticleA UK case against NGDP Targeting turns mostly on the alleged quality of the data
A James Alexander post We have already posted 0n the growing debate in the Euro Area on NGDP Targeting. The first of three papers was leaked in September and Scott Sumner commented on its positive...
View Article“Join the dots”
A James Alexander post Call me a conspiracy theorist but when three unrelated beasts of the global financial establishment all start talking about the same, previously unfashionable, thing it’s a bit...
View ArticleIs there an NGDP Targeting bandwagon rolling here? Maybe
A James Alexander post As recently as the late July John Williams, “an influential centrist” FOMC member and President of the San Francisco Fed, was mouthing the usual threats that have become so...
View ArticleClik here to view.
How not to propose NGDP Targeting
Stephen King (not the popular author) but HSBC’s senior economic adviser, elaborates on Larry Summers´ comments on San Francisco Fed president John Williams´ letter. King´s conclusion, however, in...
View ArticleContra Nick Xenophon´s idea
The Conversation is critical, but for the wrong reasons: In the revolving door of economic ideas, the old can be suddenly new again. Independent Senator Nick Xenophon resurrected one such idea this...
View ArticleIf 2% is not enough, don´t double it
According to the Economist: …How might these problems be fixed? One possibility is simply to raise the inflation target to, say, 4%. Credibly enacted, that ought to alleviate the risk of impotence. If...
View ArticleClik here to view.
Toying with business cycle dating
In this year´s ASSA Annual Meeting in January, Christina & David Romer (R&R) presented “NBER Business Cycle Dating: Retrospect and Prospect”: “…Our most substantial proposal is that the NBER...
View Article