St. Louis Fed’s Bullard makes case for NGDP target

bullard-st-louis
James Bullard

Federal Reserve Bank of St. Louis president James Bullard has reignited the debate on nominal GDP targeting, after publishing a working paper on monetary policy at the zero lower bound on May 28.

The paper – co-authored by Costas Azariadis, Aarti Singh and Jacek Suda – calls into question the effectiveness of unconventional measures deployed since the financial crisis.

The authors find a disparity between the theory and empirical evidence surrounding both forward guidance and quantitative easing

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: