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Forget about “hawks” and “doves”– what we need is a “monetary constitution”
Even though NGDP level targeting is becoming increasingly popular I am increasingly getting worried that people don’t really understand what Market Monetarists are talking about. The problem is that...
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HAWKISH Market Monetarists
Over the past five years Market Monetarists have gotten a reputation for always being dovish in terms of monetary policy. The Market Monetarists have day-in and day-out been pushing for monetary easing...
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The hawks should start advocating NGDP targeting to avoid embarrassment
Over the past six years the “hawks” among UK and US central bankers have been proven wrong. They have continued to argue that a spike in inflation was just around the corner because monetary policy was...
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