Nominal GDP Targeting

Here is a pretty balanced piece on nominal GDP targeting.

I suppose this post is more for me than for anyone else. The link contains many good links on NGDP targeting. It's a very interesting idea especially since we learnt in Economics 101 (or any other beginner Economics course) that the role of the central bank is to maintain price stability and low unemployment.

The appeal of NGDP targeting is that it is a single target that can do both, much like killing two birds with one stone. Although, I am not much for killing birds with stones.