Is nominal GDP targeting a rule policymakers could accept?

Daniel Thornton

Economic Synopses, 2013, No 29

Abstract: The economy is too complex to be summarized by a single rule. Economies are constantly changing in ways difficult to explain after the fact and nearly impossible to predict. Consequently, policymakers seem destined to rely on discretion rather than rules.

Keywords: Monetary; policy (search for similar items in EconPapers)
Date: 2013
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