NDLI: Hayek ’ s Rule , NGDP Targeting , and the Productivity Norm : Theory and Application

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Hayek ’ s Rule , NGDP Targeting , and the Productivity Norm : Theory and Application

Content Provider	Semantic Scholar
Author	Cachanosky, Nicolás
Copyright Year	2014
Abstract	The 2008 crisis demonstrated that, absent inflationary pressures, significant economic stress can occur as a consequence of loose monetary policy. This scenario raises the question as to whether there is a better alternative to price stability as a guiding principle for monetary policy. In this paper, I explore the theoretical insights of the productivity norm, its superiority to price stability in the form of Hayek’s Rule and market monetarism’s NGDP Targeting as the focus of monetary policy, and the challenges of applying such principles by central banks. *Corresponding author: Nicolás Cachanosky, Department of Economics, Metropolitan State University of Denver, Campus Box 77, P.O. Box 173362, Denver, CO 80217, USA, Tel: +18572846365; E-mail: ncachano@msudenver.edu Received January 01, 2014; Accepted February 03, 2014; Published February 05, 2014 Citation: Cachanosky N (2014) Hayek’s Rule, NGDP Targeting, and the Productivity Norm: Theory and Application. J Stock Forex Trad 3: 121. doi:10.4172/21689458.1000121 Copyright: © 2014 Cachanosky N. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
File Format	PDF HTM / HTML
Alternate Webpage(s)	https://www.omicsonline.org/open-access/hayeks-rule-ngdp-targeting-and-the-productivity-norm-theory-and-application-2168-9458-3-121.pdf
Language	English
Access Restriction	Open
Subject Keyword	Aggregate data Bank (environment) Choose (action) Copyright Distortion (economics) International Standard Serial Number License Money Occur (action) Rule (guideline) Shock Uniform Resource Identifier United States Public Health Service
Content Type	Text
Resource Type	Article

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