Evan Koenig on the Case for Nominal GDP Targeting
Macro Musings with David Beckworth
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Nominal GDP Targeting: A Clearer Monetary Path
This chapter explores the concept of nominal GDP targeting as a more understandable approach to monetary policy for both economists and the public. It discusses its benefits, including enhanced financial stability and clearer communication of economic goals, as well as critiques of alternative approaches. The speaker emphasizes how this strategy can improve financial outcomes during economic fluctuations by stabilizing expectations around income and inflation.
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