Author Archives: John Taylor

A New Opportunity for Monetary Reform

The opportunity for pro-growth tax reform (lower rates with a broader base) and pro-growth regulatory reform (with rigorous cost-benefit tests) is now better than it has been in years, because of similarities between reform ideas put forth by Congress—many in … Continue reading

Posted in Monetary Policy

Central Bank Models: A Key to Future Monetary Policy

In thinking about the future of monetary policy, it’s important to consider legislative reforms and appointments, but it’s also important to consider the economic models that have come to be a key part of policy making in central banks. The … Continue reading

Posted in Monetary Policy, Teaching Economics

A World Cup in the Battle of Ideas

Markus Brunnermeier, Harold James and Jean-Pierre Landau have just published a fascinating book, The Euro and the Battle of Ideas, in which they bring together their respective skills in economic theory, economic history and economic policy to bear on one … Continue reading

Posted in Financial Crisis, International Economics, Monetary Policy, Regulatory Policy

Committing to Economic Freedom at Home and Abroad

Dartmouth’s Doug Irwin has been writing about the General Agreement on Tariffs and Trade (GATT) that was finalized seventy years ago this month. His tweets includes a link to President Harry Truman’s statement upon the announcement of the completion of … Continue reading

Posted in International Economics

Take Off the Muzzle and the Economy Will Roar

In his Saturday Wall Street Journal essay “Why the Economy Doesn’t Roar Anymore”—illustrated with a big lion with its mouth shut—Marc Levinson offers the answer that the “U.S. economy isn’t behaving badly. It is just being ordinary.”  But there is … Continue reading

Posted in Fiscal Policy and Reforms, Regulatory Policy, Slow Recovery

Should the Previous Framework for Monetary Policy Be Fundamentally Reconsidered?

“Did the crisis reveal that the previous consensus framework for monetary policy was inadequate and should be fundamentally reconsidered?”  “Did economic relationships fundamentally change after the crisis and if so how?” These important questions set the theme for an excellent … Continue reading

Posted in Financial Crisis, Monetary Policy, Teaching Economics

The Statistical Analysis of Policy Rules

My teacher, colleague, and good friend Ted Anderson died this week at the age of 98.  Ted was my Ph.D. thesis adviser at Stanford in the early 1970s, and later a colleague when I returned to teach at Stanford in … Continue reading

Posted in Teaching Economics