Mikihiro Matsuoka on Bank of Japan policy, Japanisation of Economies, and the Demise of Capitalism
Macro Hive Conversations With Bilal Hafeez
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Is There a Difference Between Inflation Targeting and Nominal GDP Targeting?
There is a debate in muntre polcy circles, where the's a school that basically says, rather than targeting inflation, we should have a nominal g d p target. Japan has been plagued with this prolonged period of deflation, and they have an inflation target, and so on. But if we adopted nominal gbtargeting, that cost will probably be smaller than efastion targeeting. In other words, when we see our tuition cost dropped by sa government instruction to deteguration, we don't have to acomlet mitary policy. And likewise, when we sees our lies inte, when weseea not e pris shock, then the mater p
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