Table of Contents
Preface by Richard W. Fisher
Introduction by Evan F. Koenig, Robert Leeson, and George A. Kahn
I. TAYLOR’S APPROACH TO MONETARY THEORY AND POLICY
1. Monetary Policy Rules: from Adam Smith to John Taylor
by Pier Francesco Asso, Robert Leeson
2. The Taylor Rule and the Practice of Central Banking
by George A. Kahn
3. A Comparison with Milton Friedman
by Edward Nelson
4. Two Basic Principles
by Robert E. Lucas
II. FROM THE GREAT MODERATION TO THE GREAT DEVIATION
5. The Great Moderation
by Ben S. Bernanke
6. The Great Deviation
by John B. Taylor
7. It’s Not So Simple
by Donald L. Kohn
III. NEW CHALLENGES IN THE DECADE AHEAD
8. Forecast Targeting as a Monetary Policy Strategy: Policy Rules in Practice
by Michael Woodford
9. The Dual Nature of Forecast Targeting and Instrument Rules
by John B. Taylor
10. Evaluating Monetary Policy
by Lars E. O. Svensson
IV. TAYLOR’S INFLUENCE ON POLICYMAKING: FIRSTHAND ACCOUNTS
11. Overview
by Ben S. Bernanke
12. The View from Inside the Fed
by Janet Yellen
13. The View from Inside the European Central Bank
by Otmar Issing
14. The View from Central Banks in Emerging Markets
by Guillermo Ortiz
15. A View from the Financial Markets
by John P. Lipsky
APPENDIX
The Pursuit of Policy Rules: A Conversation between Robert Leeson and John B. Taylor
About the Contributing Authors
Index
