tag:blogger.com,1999:blog-7225373.post6375552206399137705..comments2024-02-29T03:34:23.190-05:00Comments on Who Were the Sea Peoples?: Targetting NGDP IIIgcallahhttp://www.blogger.com/profile/10065877215969589482noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7225373.post-24300194071623983482013-07-16T13:34:30.030-04:002013-07-16T13:34:30.030-04:00What I like about NGDPT is that it seems a viable ...What I like about NGDPT is that it seems a viable way of stabilizing the value of money through time and eliminating what many economists see as the main cause of recessions.<br /><br />I do worry that<br /><br />1. At some point in the future whatever target has been chosen will turn out to be inappropriate for some unforeseen set of circumstance and this will have serious consequences that a more flexible policy would have avoided<br /><br />and <br /><br />2. People will try and get the target changed to suit their own ends and find ways of manipulating the measurements.<br /><br />However I still think the benefits of minimizing recessions outweigh the costs of having to be vigilant against these potential downsides, though they clearly need to be considered if such a policy is ever implemented, robhttps://www.blogger.com/profile/04682517711551179057noreply@blogger.com