Nominal GDP: Target or Benchmark?

Some observers have argued that the Federal Reserve would best fulfill its mandate by adopting a target for nominal gross domestic product (GDP). Insights from the monetarist tradition suggest that nominal GDP targeting could be destabilizing. However, adopting benchmarks for both nominal and real GDP could offer useful information about when monetary policy is too tight or too loose.

MoreLess

Year of publication:	2015
Authors:	Hetzel, Robert L.
Published in:	Richmond Fed Economic Brief. - Federal Reserve Bank of Richmond. - 2015, April, p. 1-7
Publisher:	Federal Reserve Bank of Richmond

More details

Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011240601