Why the United Kingdom Should Adopt a Nominal GDP Target
by Tomas Hellebrandt | March 21st, 2013 | 05:15 pmThe review [pdf] of the United Kingdom’s monetary policy framework published alongside the budget on March 20 reveals that the UK Treasury has ruled out replacing inflation targeting with nominal GDP targeting. That is a shame. Nominal GDP targeting would provide more space for the Bank of England to support the recovery in the near [...]