Monthly Archives: February 2010

Good Policy Pays Off In Emerging Markets

Posted on February 27, 2010 by John Taylor

“Lessons from the Financial Crisis for Monetary Policy in Emerging Markets” was the title for the 2010 L.K. Jha Lecture, which I gave this week at the Reserve Bank of India in Mumbai. Jha was one of the truly outstanding … Continue reading →

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Macro Model Disagreements and Reality

Posted on February 22, 2010 by John Taylor

Last Friday Macroeconomic Advisers (MA), a forecasting firm, posted a blog entry responding to empirical work by me and others on the “stimulus act” of 2009. I welcome the discussion, but unfortunately the blog seems to have missed the main … Continue reading →

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Stimulus Anniversary Blogs

Posted on February 17, 2010 by John Taylor

With the one year anniversary of the signing of the stimulus it is useful to review the facts and data as they came in during the year. Here are the relevant posts from Economics One. Most look at actual data … Continue reading →

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More Economists To Meet with Financial Crisis Inquiry Commission

Posted on February 11, 2010 by John Taylor

The Financial Crisis Inquiry Commission (FCIC) will meet with more economists on February 26-27 to delve into causes of the crisis, considering in particular: monetary policy, derivatives, shadow banking, GSEs, and bailouts of “too big too fail” institutions. The forum … Continue reading →

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New Book on How to End Government Bailouts

Posted on February 11, 2010 by John Taylor

America is sick of bailouts. As President Obama called out in the State of the Union “we all hated the bank bailout. I hated it. I hated it. You hated it.” But the bailout mentality continues, and hate alone will … Continue reading →

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An Exit Rule as an Exit Strategy for Monetary Policy

Posted on February 10, 2010 by John Taylor

Today’s hearing at the House Committee on Financial Services on “Unwinding Emergency Federal Reserve Liquidity Programs and Implications for Economic Recovery” was cancelled because of snow. The hearing was to focus on whether the Fed’s extraordinary measures have worked and … Continue reading →

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The Macroeconomics of Education

Posted on February 4, 2010 by John Taylor

The new study by my colleague Rick Hanushek and his coauthor Ludger Woessmann shows that bringing US education levels up to the level of Finland would raise real GDP by over $100 trillion measured in present discounted value terms over … Continue reading →

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One Year Later and More Evidence that the Stimulus is Not Working

Posted on February 3, 2010 by John Taylor

Friday’s data release from the Bureau of Economic Analysis (BEA) shows that real GDP growth rebounded to 5.7 percent in the fourth quarter from 2.2 percent in the third quarter of last year. The rebound was sharper when compared with … Continue reading →

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