Is the UK Secretly Targeting NGDP?
January 13, 2011 at 12:41 PM EST
Scott Sumner directs us to a Financial Times piece that claims the Bank of England is secretly targeting a nominal GDP growth rate of 5%. As a proponent of nominal GDP targeting, I was intrigued and wanted to see if the UK data supported this claim. So I created the figure below using the IMF’s [...]
