Patrick Horan and David Beckworth on *The Fate of FAIT* and the Future of the Fed’s Monetary Framework
Macro Musings with David Beckworth
00:00
Nominal GDP Level Targeting - Is There a Catch-Up Period?
I think it would help if they published an explicit rule. In the paper, we show several potential rules about how you could go about doing nominal GDP level targeting. Any kind of makeup policy is going to empower the central bank to make up and how they do it could be conditional on what's happening. So it's not clear that there's an easy answer.
Transcript
Play full episode
