Reading the many eulogies to William Niskanen on the web recently, I have not seen too many mentions of his support for nominal expenditure targeting. It is sad to lose a long time advocate, just when the approach is gaining attention.
Here is a paper by him on the subject.
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Bill. That´s a wonderful piece. Perfectly pinpoints (in almost real time) the start of the "instability" in 1998 and that went on till 05 when Greenspan brought NGDP back to trend.
ReplyDeleteFrankly speaking, I will not want to guess the rates because it can change rapidly and till there is no certainty, it’s useless to plan anything or else it will be worthless. I plan things very carefully since I know if there is profit to be had then it’s with good plans and with broker like OctaFX at my disposal, I am able to do it all nicely having low spreads from 0.1 pips to high leverage up to 1.500 plus stunning bonus on deposit up to 50%, it’s all easy to plan out things.
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