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Real wages, employment and the Phillips Curve (Working paper)

Author: Scott Sumner

Binding: Unknown Binding

Manufacturer: Bentley College, Institute for Research and Faculty Development

Number of pages: 16

Product group: Book

Studio: Bentley College, Institute for Research and Faculty Development

Publication Date: 2009

Publisher: Bentley College, Institute for Research and Faculty Development

Pages: 16

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Scott Sumner
Scott B. Sumner is Research Fellow at the Independent Institute, the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University and an economist who teaches at Bentley University in Waltham, Massachusetts. His economics blog, The Money Illusion, popularized the idea of nominal GDP targeting, which says that the Fed should target nominal GDP—i.e., real GDP growth plus the rate of inflation—to better "induce the correct level of business investment". In May 2012, Chicago Fed President Charles L. Evans became the first sitting member of the Federal Open Market Committee (FOMC) to endorse the idea.