New Bank of England governor Mark Carney thinks central banks should focus on ‘nominal gross domestic product’, or NGDP. Tim Bennett explains what NGDP is, and why Carney’s proposal has caused such a stir.
• Having trouble viewing this video? Click here for a version optimised for slower connections.• See all MoneyWeek videos here.
• To download the videos to your mobile device via iTunes, click here.
• Get all of our latest video tutorials sent straight to your inbox every week - sign up FREE to MoneyWeek Videos here.