Title

John Taylor’s Contributions to Economics

Author(s)

Michael D. Bordo Michael Bordo (Rutgers University, Hoover Institution, and NBER)

John H. Cochrane John Cochrane (Hoover Institution and NBER)

Jonathan S. Hartley Jonathan Hartley (Stanford University and Hoover Institution)

Abstract

John B. Taylor is one of the greatest macroeconomists of the late 20th and early 21st centuries. This paper surveys his seminal contributions to monetary theory, policy rules, and macroeconomic modeling. Taylor’s work on rational expectations, staggered contracts, and the development of the Taylor Rule transformed the theory and practice of monetary policy. Through scholarship, policy engagement, and public service, Taylor has profoundly influenced academic research and central banking practice, establishing rules-based policy as a central paradigm in macroeconomics

Creation Date

2025-07

Section URL ID

Paper Number

346

URL

https://gceps.princeton.edu/wp-content/uploads/2025/07/wp346_BordoCochraneHartley_TaylorEconContributions.pdf

File Function

Jel

E52, E58, E61, F33

Keyword(s)

Monetary Policy, Central Banks, Policy Objectives, International Monetary Arrangements and Institutions

Suppress

false

Series

3