A French Assessment Of NGDP Targeting Misses The Point
James Alexander via Historinhas| The Committee on Economic and Monetary Affairs of the European Parliament recently held a session on NGDP Targeting. The French paper starts with a review of the literature on Inflation Targeting and says things went well until the crisis. A caveat they mention is that since both IT regimes and non-IT regimes did well in bringing down inflation it is really too hard to tell if IT was all that superior.