Journal Article

Nominal GNP: an anchor for monetary policy?


Abstract: Nominal GNP has some theoretical appeal as a guide for monetary policy. Its principal strength is that it would prevent policy from drifting away from the long-run goal of price stability. However, whether policymakers can translate this theoretical appeal into an actual policy that improves economic performance is an open question.

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Provider: Federal Reserve Bank of Kansas City

Part of Series: Economic Review

Publication Date: 1988

Volume: 73

Issue: Nov

Pages: 18-35