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What is NGDP?

The Bank of England's new 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.

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.

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