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Publication Date: January 2008
Publisher: Hoover Institution on War, Revolution, and Peace; International Monetary Fund
Author(s): John B. Taylor; Prakash Loungani
Research Area: Economics
Keywords: Economy; John B. Taylor; The Taylor Rule
Type: Report
Coverage: United States
Abstract:
The Taylor rule is a simple equation that Hoover senior fellow and Stanford economist John B. Taylor propounded in 1992 to describe the response of the Fed’s interest-rate target to inflation and business cycles. Now it has been celebrated; a conference on “John Taylor’s Contributions to Monetary Theory and Policy†was held at the Federal Reserve Bank of Dallas in October 2007.
This article chronicles Taylor's economic studies from his undergraduate years at Princeton in the mid-1960s to his works at Stanford and as an economic adviser to the Republicans in present-day 2008.