• Publications
  • Influence
New Keynesian versus Old Keynesian Government Spending Multipliers
Renewed interest in fiscal policy has increased the use of quantitative models to evaluate policy. Because of modeling uncertainty, it is essential that policy evaluations be robust to alternativeExpand
  • 745
  • 99
  • PDF
Monetary policy rules
This timely volume presents the latest thinking on the monetary policy rules and seeks to determine just what types of rules and policy guidelines function best. A unique cooperative research effortExpand
  • 1,545
  • 87
The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong
This paper is an empirical investigation of the role of government actions and interventions in the financial crisis that flared up in August 2007. It integrates and summarizes several ongoingExpand
  • 1,018
  • 70
  • PDF
The Robustness and Efficiency of Monetary Policy Rules as Guidelines for Interest Rate Setting by the European Central Bank
This paper examines the implications of recent research on monetary policy rules for practical monetary policy making, with special emphasis on strategies for setting interest rates by the newExpand
  • 560
  • 58
Staggered Price and Wage Setting in Macroeconomics
This paper reviews the role of temporary price and wage rigidities in explaining the dynamic relationship between money, real output, and inflation. It summarizes microeconomic data on price and wageExpand
  • 633
  • 50
  • PDF
The paper investigates an econometric method for selecting macroeconomic policy rules when expectations are formed rationally. A simple econometric model of the U.S. is estimated subject to a set ofExpand
  • 630
  • 50
Macroeconomic Policy in a World Economy: From Econometric Design to Practical Operation
This monograph articulates John Taylor's contributions to macroeconometric policy evaluation and design since the late 1970s. Yet, the book is not simply a collection of his previously publishedExpand
  • 340
  • 42
A Black Swan in the Money Market
At the center of the financial market crisis of 2007-2008 was a highly unusual jump in spreads between the overnight inter-bank lending rate and term London inter-bank offer rates (Libor). BecauseExpand
  • 664
  • 36
  • PDF
Staggered Wage Setting in a Macro Model
  • 716
  • 33
Using Monetary Policy Rules in Emerging Market Economies
This paper shows that the use of monetary policy rules in emerging market economies has many of the same benefits that have been found in research and in practice in developed economies. For thoseExpand
  • 176
  • 16
  • PDF