EconoMonitor

If Only Bloggers Ran the Fed…

From the latest Kauffman Economic Outlook, a quarterly survey of economic bloggers, we find this figure:

Too bad bloggers cannot run the Fed. At least we have changed the conversation so that the Fed is talking about NGDP targeting.

P.S. A note to those bloggers who want the central bank to target repo rates. If a central bank successfully adopts a NGDP level target, then many of the problems surrounding repos and interbank lending would disappear.

This post originally appeared at Macro and Other Market Musings and is posted with permission.

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Otaviano Canuto

Otaviano Canuto is Senior Advisor on BRICS Economies in the Development Economics Department, World Bank, a new position established by President Kim to bring a fresh research focus to this increasingly critical area. He also has an extensive academic background, serving as Professor of Economics at the University of Sao Paulo and University of Campinas (UNICAMP) in Brazil.

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