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Does China target NGDP?
Much of the debate about NGDP targeting in the blogosphere is about what the Federal Reserve should do. However, I think it is equally important to discuss and focus on what monetary regimes are...
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Did Bennett McCallum run the SNB for the last 20 years?
Which central bank has conducted monetary policy in the best way in the last five years? Among “major” central banks the answer in my view clearly would have to be the SNB – the Swiss central bank. Any...
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Time for the Fed to introduce a forward-looking McCallum rule
Earlier this week Boston Fed chief Eric Rosengreen in an interview on CNBC said that the Federal Reserve could introduce a forth round of quantitative easing – QE4 – since the beginning of the crisis...
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Three simple changes to the Fed’s policy framework
Frankly speaking I don’t feel like commenting much on the FOMC’s decision today to keep the Fed fund target unchanged – it was as expected, but sadly it is very clear that the Fed has not given up the...
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