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The Taylor Rule and the Transformation of Monetary Policy, edited by Koenig, Leeson, and Kahn

The Taylor Rule and the Transformation of Monetary Policy, edited by Koenig, Leeson, and Kahn

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Published by Hoover Institution

BRIDGING THE GAP BETWEEN MONETARY THEORY AND APPLIED MONETARY POLICY: THE TAYLOR RULE

Twenty years ago, John Taylor proposed a simple idea to guide monetary policy. Quickly the idea spread, not only through academia, but also to the trading floors of Wall Street and the Federal Reserve's boardroom in Washington. Now, two decades later, the Taylor rule remains a focal point for discussions of monetary policy around the world. In The Taylor Rule and the Transformation of Monetary Policy, a veritable contributors' "who's who" from the academic and policy communities explain and provide perspectives on John Taylor's revolutionary thinking about monetary policy. From the Great Inflation of the 1970s through the Great Moderation of the 1980s and 1990s to the Great Deviation following the 2001 recession, the contributors analyze Taylor's influences on monetary theory and policy around the world. They explore some of the literature that Taylor inspired and help us understand how the new ways of thinking that he pioneered have influenced actual policy here and abroad.

Evan F. Koenig is vice president and senior policy adviser at the Federal Reserve Bank of Dallas and an adjunct professor at Southern Methodist University. Robert Leeson is a visiting professor of economics at Stanford University, a visiting fellow at the Hoover Institution, and an adjunct professor at Notre Dame Australia University. George Kahn is vice president and economist at the Federal Reserve Bank of Kansas City.

CONTRIBUTORS: Pier Francesco Asso, Ben S. Bernanke, Richard W. Fisher, Otmar Issing, George A. Kahn, Donald L. Kohn, Robert Leeson, John P. Lipsky, Robert E. Lucas, Edward Nelson, Guillermo Ortiz, Lars Svensson, John B. Taylor, Michael Woodford, Janet Yellen

BRIDGING THE GAP BETWEEN MONETARY THEORY AND APPLIED MONETARY POLICY: THE TAYLOR RULE

Twenty years ago, John Taylor proposed a simple idea to guide monetary policy. Quickly the idea spread, not only through academia, but also to the trading floors of Wall Street and the Federal Reserve's boardroom in Washington. Now, two decades later, the Taylor rule remains a focal point for discussions of monetary policy around the world. In The Taylor Rule and the Transformation of Monetary Policy, a veritable contributors' "who's who" from the academic and policy communities explain and provide perspectives on John Taylor's revolutionary thinking about monetary policy. From the Great Inflation of the 1970s through the Great Moderation of the 1980s and 1990s to the Great Deviation following the 2001 recession, the contributors analyze Taylor's influences on monetary theory and policy around the world. They explore some of the literature that Taylor inspired and help us understand how the new ways of thinking that he pioneered have influenced actual policy here and abroad.

Evan F. Koenig is vice president and senior policy adviser at the Federal Reserve Bank of Dallas and an adjunct professor at Southern Methodist University. Robert Leeson is a visiting professor of economics at Stanford University, a visiting fellow at the Hoover Institution, and an adjunct professor at Notre Dame Australia University. George Kahn is vice president and economist at the Federal Reserve Bank of Kansas City.

CONTRIBUTORS: Pier Francesco Asso, Ben S. Bernanke, Richard W. Fisher, Otmar Issing, George A. Kahn, Donald L. Kohn, Robert Leeson, John P. Lipsky, Robert E. Lucas, Edward Nelson, Guillermo Ortiz, Lars Svensson, John B. Taylor, Michael Woodford, Janet Yellen

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Publish date: Jun 13, 2012
Added to Scribd: Jun 14, 2012
Copyright:Traditional Copyright: All rights reservedISBN:9780817914042
List Price: $12.99

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10/01/2014

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9780817914042

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Economist John Taylor, creator of the Taylor Rule, discusses the GDP Impact a U.S. Fiscal Consolidation Strategy on his Economics One blog - "The gradual nature of the government spending reduction, which allows time for private spending to adjust, avoids the negative aggregate demand effects that traditional Keynesian models emphasize." - http://bit.ly/M4EDZi.

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