TY  - BOOK
AU  - Taylor,John B.
AU  - Minford,Patrick
AU  - Haldane,Andrew G.
AU  - Radia,Amar
TI  - Policy stability and economic growth: lessons from the great recession 
T2  - Readings in political economy
SN  - 0255367201
AV  - HB3717 .T39 2016eb
U1  - 338.5/4 23
PY  - 2016///
CY  - London
PB  - Institute of Economic Affairs
KW  - Financial crises
KW  - Economic policy
KW  - Monetary policy
KW  - BUSINESS & ECONOMICS
KW  - Industries
KW  - General
KW  - bisacsh
KW  - fast
KW  - Electronic books
N1  - Includes bibliographical references; The authors; Foreword; Acknowledgement; Summary; Tables and figures; 1 Policy stability and economic growth: lessons from the Great Recession; Introduction; The Great Recession compared with earlier recessions; The principles of good policy; Monetary policy: to the Taylor rule and back; Very unruly policy; A return to rules-based policy; References; 2 Questions and discussion; 3 Was failure to follow the Taylor rule enough to cause the crisis?; A commentary on John Taylor's lecture; Patrick Minford; Evaluating John Taylor's particular thesis about the financial crisis; Did the Taylor rule with inflation targeting fail during and before the crash?John Taylor's plea for a return to predictable rules of policy; Conclusions; References; 4 The need for discretion and rules ; A commentary on John Taylor's lecture; Andrew G. Haldane and Amar Radia; Rules and discretion revisited; Monetary policy rules in practice; Concluding remarks; References; 5 A rejoinder; John B. Taylor; Reference; About the IEA; Figure(1 Great Recession and not-so-great recovery (US); Figure(2 Great Recession and not-so-great recovery (UK); Figure(3 US recession and recovery in early 1980s; Figure(4 UK recession and recovery in early 1980sFigure(5 Growth rate in first eight quarters of a recovery from previous recessions with a financial crisis (identified by year recession began); Figure(6 Inflation from 1953 to 2013; Figure(7 1965-80: monetary policy not well described by good rules-based policy; Figure(8 Loose-fitting monetary policy; Figure(9 Housing investment versus deviations from the Taylor rule in the euro zone countries, 2001-6; Figure(10 Did the fiscal stimulus stimulate consumption?; Figure(11 Debt to GDP ratio in the US; Figure(12 Incidence of topics affecting inflation discussed by the MPCFigure(13 Incidence of topics linked to the labour market discussed by the MPC; Figure(14 Distribution of inflation and growth outcomes relative to forecast; Figure(15 Actual and Taylor rule paths for UK interest rates ; Figure(16 Taylor rule paths for UK interest rates with different judgements about the output gap; Figure(17 Taylor rules for UK interest rates with different judgements about weight on output gap; Figure(18 Taylor rules paths for interest rates with different judgements about r*; Figure(19 Bank of England inflation forecastsFigure(20 Taylor rules paths for interest rates with different judgements about forward lookingness; Figure(21 Range of possible Taylor rules based on different judgements; Table(1 Simulated frequencies of crises with different monetary regimes; Blank Page
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ER  -