On 27th January, 2013, the Financial Times reported on the growing popularity of Mark Carney's suggestion of dropping inflation targeting in favour of nominal GDP targeting.
Support for the idea grew after Bentley University professor Scott Sumner used his blog, The Money Illusion, to highlight its benefits.
The FT asked Anthony J. Evans, Associate Professor of Economics at our London campus, to comment on the story:
"The fact that its emergence has been driven by bloggers and marginalised economists has added to the thrill," says Anthony Evans, an associate professor at ESCP Europe, a business school, and an early advocate of nominal GDP targeting.
"Monetary theory is now making headlines, and the debate is increasingly democratic. It's really exciting to see the transmission mechanism of ideas flowing from bloggers to central bankers, and not the other way round."
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