NGDP NGDP NGDP

Paul krugman

Photo: Wikimedia Commons

NGDP NGDP NGDP.Everyone and their mother is glomming onto the hottest idea in economics right now: Nominal GDP targeting by the Fed.

Goldman’s for it

PIMCO thinks Bernanke might be for it.

Now Krugman has a big post endorsing it.

It’s the hottest idea in economics: Just have the Fed get serious about promoting inflation, so that nominatl GDP (real GDP + inflation) hits whatever number it wants.

We’re sceptical, but our debunking will have to come at a later point.

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