Papers by John B. Taylor

John B. Taylor

Mary and Robert Raymond Professor of Economics · Stanford University

Mary and Robert Raymond Professor of Economics at Stanford University and George P. Shultz Senior Fellow in Economics at the Hoover Institution. Works on monetary and international economics; served as U.S. Treasury Under Secretary for International Affairs 2001-2005.

Showing 4 papers

Published Classic Carnegie-Rochester Conference Series on Public Policy Published Dec 1993

Discretion versus policy rules in practice

John B. Taylor

This 1993 Carnegie-Rochester Conference paper by John Taylor introduces what became known as the "Taylor rule" — a simple guideline for setting the federal funds rate, r = p + 0.5y + 0.5(p - 2) + 2, …

Monetary Policy Rules Central Bank Communication

Published Classic Federal Reserve Bank of St. Louis Review Published Jul 2001

Expectations, Open Market Operations, and Changes in the Federal Funds Rate

John B. Taylor

Building a simple rational-expectations model of the federal funds market -- a lagged Trading Desk "reaction function" for the supply of Fed balances combined with a demand for balances that depends …

Monetary Policy Transmission Central Bank Communication Free Read ↗

Published Classic Journal of Economic Perspectives Published Nov 1995

The Monetary Transmission Mechanism: An Empirical Framework

John B. Taylor

This 1995 Journal of Economic Perspectives paper by John B. Taylor lays out an empirical framework for the monetary transmission mechanism and asks what it implies for the choice between fixed and …

Monetary Policy Transmission Monetary Policy Rules

Online First Journal of Money, Credit and Banking Online 12 Sep 2026

The Power of Open-Mouth Policies

Vadym Lepetyuk · Lilia Maliar · Serguei Maliar · John B. Taylor

When a central bank announces a policy it will not implement for some time, households and firms respond straight away. This paper measures how much of a policy's effect arrives in that anticipation …

Central Bank Communication Monetary Policy Rules Forward Guidance Inflation Targeting Effective Lower Bound Dsge Models Methodology

Career

1993 – present Mary and Robert Raymond Professor of Economics, Stanford University
2010 – present George P. Shultz Senior Fellow in Economics, Hoover Institution
2001 – 2005 Under Secretary for International Affairs, U.S. Treasury
1984 – 1993 Professor of Economics, Stanford University
1980 – 1984 Professor of Economics and Public Affairs, Princeton University
1979 – 1980 Professor of Economics, Columbia University
1977 – 1979 Associate Professor of Economics, Columbia University
1973 – 1977 Assistant Professor of Economics, Columbia University

Editorial roles

Co-Editor for Macroeconomics and International Economics American Economic Review1985–1988
Managing Editor International Journal of Central Banking2005–2008
Associate Editor Econometrica1981–1985
Associate Editor Journal of Economic Dynamics and Control1978–1985
Associate Editor Journal of Monetary Economics1978–1983
Associate Editor Review of Economics and Statistics1993–1996
Associate Editor Journal of Economic Perspectives1997–2000
Associate Editor Journal of Applied Econometrics1997–2001
Associate Editor Journal of Macroeconomics1998–2001