Monthly Archives: April 2012

New Model Validation of Stimulus Impacts

Posted on April 16, 2012 by John Taylor

A paper just published in the American Economic Journal: Macroeconomics sheds additional light on the Keynesian multiplier debate, which has surged since the 2009 stimulus package—ARRA—was enacted. In January 2009 Christina Romer and Jared Bernstein released a widely-cited paper showing … Continue reading →

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References to Policy Rules in a Speech by the Fed Vice Chair

Posted on April 14, 2012 by John Taylor

In a speech to the Money Marketeers in New York City this past week, Fed Vice Chair Janet Yellen gave a useful description of how she and other policy makers are thinking analytically about monetary policy. The speech referred extensively … Continue reading →

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