Scott Sumner on Alternative Approaches to Monetary Policy
Macro Musings with David Beckworth
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Price Level Targeting Is Better Than Price Targeting
Price level targeting is acceptable if it's part of a dual mandate approach, where you don't put all the weight on the price level. The reason i prefer nominal g t p targeting is it does a better job of handling supply shocks and so on. And maybe this would be a good time to pivot to the current situation, because, yes, this is very much involved in what's going on now.
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