Monetary Equilibrium and Nominal Income Targeting - 9780367589448

Taylor & Francis

Monetary Equilibrium and Nominal Income TargetingAuthor(s): Nicols Cachanosky\nFormat: Paperback\nPublisher: Taylor & Francis Ltd, United Kingdom\nImprint: Routledge\nISBN-13: 9780367589448, 978-0367589448\nSynopsis\nThis book examines the case of nominal income targeting as a monetary policy rule. In recent years the most well-known nominal income targeting rule has been NGDP (level) Targeting, associated with a group of economists referred to as market monetarists (Scott Sumner, David Beckworth, and Lars Christensen among others). \n\nNominal income targeting, though not new in monetary theory, was relegated in economic theory following the Keynesian revolution, up until the financial crisis of 2008, when it began to receive renewed attention. This book fills a gap in the literature available to researchers, academics, and policy makers on the benefits of nominal income targeting against alternative monetary rules. \n\nIt starts with the theoretical foundations of monetary equi.