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.

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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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Tim Bennett

Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.

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