About That Goldman Sachs Endorsement of NGDP Targeting
Here it is and it is really good. One might think they were reading a market monetarist policy paper. Matthew Yglesias provides further comments on the piece as does Ryan Avent. Here is my initial response to the piece.
The Goldman Sachs piece is a remarkable endorsement--not because of the source, but because of the perception of the source.
ReplyDeleteObviously, market monetarism can no longer be dismissed for lacking credentials.
I wish ideas were judged on their merits, but what, is.