Monetary policy analysts often rely on rules of thumb, such as the Taylor rule, to describe historical monetary policy decisions and to compare current policy with historical norms. Analysis along these lines also permits evaluation of episodes where policy may have deviated from a simple rule...

This article reviews the role of monetary and fiscal policy in the financial crisis and draws lessons for future macroeconomic policy. It shows that policy deviated from what had worked well in the previous two decades by becoming more interventionist, less rules-based, and less predictable. The...

This article is a reprint of a lecture - given in honor of Homer Jones - that examines the causes of the Long Boom. John B. Taylor defines the Long Boom from 1982 to the present - as the period of time in which the United States has known unprecedented economic stability. This period includes...