ON-Lion Letter
Twenty years ago, Bradley Prize recipient John B. Taylor proposed a simple idea to guide monetary policy.  The idea quickly spread, not only through academia, but also to the trading floors of Wall Street and the Federal Reserve's boardroom in Washington.  Now, two decades later, the Taylor rule remains a focal point for discussions of monetary policy around the world.

In The Taylor Rule and the Transformation of Monetary Policy, a veritable "who's who" from the academic and policy communities explain and provide perspectives on Taylor's revolutionary thinking about monetary policy.  From the Great Inflation of the 1970s through the Great Moderation of the 1980s and 1990s to the Great Deviation following the 2001 recession, the contributors analyze Taylor's influences on monetary theory and policy around the world. 

Taylor is the Mary and Robert Raymond Professor of Economics at Stanford University and the George P. Shultz Fellow in Economics at Stanford's Hoover Institution.  He chairs Hoover's Working Group on Economic Policy, which The Lynde and Harry Bradley Foundation in Milwaukee supports.

New from Hoover Institution Press, The Taylor Rule and the Transformation of Monetary Policy explores some of the literature that Taylor inspired and helps us understand how the new ways of thinking that he pioneered have influenced actual policy here and abroad.
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