Guest post: Market Monetarism and Financial Crisis by Vaidas Urba Market monetarists agree that stable NGDP path is the policy goal. They usually go on to argue that monetary policy should have a single target: market expectations of NGDP, and a single instrument: the size of the monetary base. Often the EMH is considered to … Continue reading Guest post: Market Monetarism and Financial Crisis (by Vaidas Urba)