Via Noahpinion. Seems to me that new RBC research is a justification for MM in that NGDP targeting would decrease information asymmetries across the economy and would constitute the policy action of providing more information to the economy. These MM contribution to providing information should be greater than a money growth rule or inflation targeting.
8/23/2014 02:04:21 am
On strategy space, the Fed moving last, and NGDP targeting:
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