The Fallacy of Market Monetarism

Further reading:

The "Market Monetarists" and NGDP Targeting by Robert P. Murphy (Chapter 15 in Understanding Money Mechanics)

Nominal GDP Targeting: New-Fangled Monetarism or Old-Fashioned Keynesianism? Can This New Fad Save the Fed? by Shawn Ritenour

Nominal GDP Stabilization: Chasing a Mirage by Richard E. Wagner & Vipin V. Veetil