The Taylor rule and the transformation of monetary policy
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Author
Contributions
- Kahn, George A. 1956- - Contributor
- Leeson, Robert. - Contributor
- Federal Reserve Bank of Kansas City. Research Division. - Contributor
Publication
2007 - Research Division, Federal Reserve Bank of Kansas City, Kansas City [Mo., Missouri
Language
English
Word Count
0 words, Guess
Page Count
0 pages
Physical Format
Electronic resource
Identifiers
- Library of Congress Control Number2008613006
- Open LibraryOL22649158M
Classifications
- LCCHB1
Description
This paper examines the intellectual history of the Taylor Rule and its considerable influence on macroeconomic research and monetary policy. The paper traces the historical antecedents to the Taylor rule, emphasizing the contributions of three prominent advocates of rules--Henry Simons, A.W. H. Phillips, and Milton Friedman. The paper then examines the evolution of John Taylor's thinking as an academic and policy advisor leading up to his formulation of the Taylor rule. Finally, the paper documents the influence of the Taylor rule on macroeconomic research and the Federal Reserve's conduct of monetary policy.
Subjects
Series Statement
- RWP -- 07-11
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