tag:blogger.com,1999:blog-5713178645208582139.post2774797459498175516..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: New Articles on NGDP TargetingDavid Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5713178645208582139.post-78426887522516427542019-06-18T05:50:54.503-05:002019-06-18T05:50:54.503-05:00Other relevant papers that worth consideration are...Other relevant papers that worth consideration are available in the literature:<br />https://doi.org/10.1016/j.jedc.2016.05.004<br />https://doi.org/10.1016/j.jfs.2014.10.001<br />https://doi.org/10.1016/j.iref.2019.01.010<br />https://doi.org/10.1016/j.rie.2017.06.001<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-14446096908188826782019-06-11T12:15:56.666-05:002019-06-11T12:15:56.666-05:00The Fed knows NGDP as well as any of the account h...The Fed knows NGDP as well as any of the account holders, it can be updated directly from the change in outstanding loans. The Fed should be able to read that right off its deal book. No issue of late reporting and thus cycles, that we have with Taylor rule. <br /><br />But the NGDP target does not favor Treasury which uses the Fed for short term liquidity. So Treasury is likely to exercise its Matt Younghttps://www.blogger.com/profile/08404998406161097199noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-40887218262761237042019-06-08T22:54:52.890-05:002019-06-08T22:54:52.890-05:00Congratulations on pushing the NGDPLT idea forward...Congratulations on pushing the NGDPLT idea forward.<br /><br />The next advance needs to be made is tools to get there. <br /><br />QE? Negative interest rates? Ofr what Adair Turner and Ray Dalio suggest, something with helicopter drops. Even Ben Bernanke has indicated openness to the choppers. <br /><br />If the choppers are more effective than QE....why not send in the choppers? <br /><br />AsBenjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.com