Time for Nominal Growth Targets

From Project Syndicate RSS-Feed Sun Dec 16 2012, 10:20:07

Monetary policymakers in some countries would do well to consider a shift toward targeting nominal GDP - a switch that could be phased in gradually in such a way as to preserve credibility with respect to inflation. Indeed, for many advanced economies, in particular, a nominal-GDP target is clearly superior to the status quo.

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