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Adam Smith Institute seminar on NGDP targeting

Summary:
I recently participated in an Adam Smith Institute seminar on NGDP targeting (with Anthony Evans and Matt Kilcoyne.) I had my usual technical problems with Zoom, and lost my train of thought a few times. But otherwise it went well. I also updated my 2011 NGDP paper. Commenter Matt Moore pointed me to another pro-NGDP targeting paper by another UK think tank (The Centre for Policy Studies). It’s written by Sajid Javid, who was recently the Chancellor of the Exchequer. Perhaps the tide is turning in the UK. In any case, it’s only a matter of time. Tags:

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I recently participated in an Adam Smith Institute seminar on NGDP targeting (with Anthony Evans and Matt Kilcoyne.) I had my usual technical problems with Zoom, and lost my train of thought a few times. But otherwise it went well.

I also updated my 2011 NGDP paper.

Commenter Matt Moore pointed me to another pro-NGDP targeting paper by another UK think tank (The Centre for Policy Studies). It’s written by Sajid Javid, who was recently the Chancellor of the Exchequer.

Perhaps the tide is turning in the UK. In any case, it’s only a matter of time.


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Scott Sumner
Scott B. Sumner is Research Fellow at the Independent Institute, the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University and an economist who teaches at Bentley University in Waltham, Massachusetts. His economics blog, The Money Illusion, popularized the idea of nominal GDP targeting, which says that the Fed should target nominal GDP—i.e., real GDP growth plus the rate of inflation—to better "induce the correct level of business investment".

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