Tuesday, November 1, 2011

William Niskanen

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.


  1. 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.

  2. Frankly 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.