Tags » Ngdp Targeting

Does Y determine MV or is it MV that determines P?

Scott Sumner a couple of days ago wrote a post on the what he believes is a Great Stagnation story for the US. I don’t agree with Scott about his pessimism about long-term US growth and I don’t think he does a particularly good job arguing his case. 779 more words

NGDP Targeting

Will new tools help to “save” the economy?

The BEA has announced the forthcoming release of new analysis tools:

The Bureau of Economic Analysis plans to launch two new statistics that will serve as tools to help businesses, economists, policymakers and the American public better analyze the performance of the U.S.

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Monetary Policy

St. Louis Fed's Bullard comes out in support of NGDP targeting

St. Louis Federal Reserve president James Bullard just came out in support of nominal GDP targeting – or rather he has co-authored a rather interesting new Working Paper, which concludes that NGDP targeting under some circumstances would be the best policy to pursue. 946 more words

NGDP Targeting

Recently, Scott Sumner visited the St Louis Fed. It wasn´t for naught!

Today Bullard comes out of the closet with a euphemism:

The Federal Reserve should consider new policy options, including directly targeting a non-inflation-adjusted level of economic growth…

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Monetary Policy

Mario, stay on track and avoid the mistakes of 1937 and 2011

The global stock markets have been facing some headwinds recently, and there may be numerous reasons for this. One obvious one is the recent rebound in oil prices, which I believe is essentially driven by markets’ expectation that the Saudi-led global oil price war is now ending. 991 more words

NGDP Targeting

Quotes & Links #61

1) nytimes.com/upshot: Why Americans Don’t Want to Soak the Rich

This core question — How much should the government use its power to tax and spend to redistribute wealth in pursuit of a more equal society?

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Quotes & Links Absurd

Ben (“Blade Runner”) Bernanke

The “Blade Runner” comes from his talk in the IMF´s “Monetary Policy in the Future” panel.

Scott Sumner wrote that

this is the post we’ve all been waiting for, isn’t it?  

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Monetary Policy