Chapter 2: Principles of Macroeconomics
John B. Taylor John B. Taylor was born in Yonkers, New York in 1946 and obtained his AB in economics from Princeton University in 1968 and his PhD in economics from Stanford University in 1973. He taught at Columbia University between 1973 and 1979, becoming Professor of Economics in 1979. Between 1980 and 1984, he was Professor of Economics and Public Affairs at Princeton University and then moved to Stanford University, where he has remained ever since, currently serving as the Mary and Robert Raymond Professor of Economics and the Bowen H. and Janice Arthur McCoy Senior Fellow at the Hoover Institution. At Stanford, Professor Taylor teaches an undergraduate course in Introductory Economics. In 1996, he was awarded the Rhodes Prize for outstanding contributions to the teaching of introductory economics at Stanford, and in 1991 he was awarded the Hoagland Prize in recognition for excellence in undergraduate teaching at the university. Professor Taylor’s research interests are monetary policy, fiscal policy, and international economics. His work has been published in the American Economic Review, Econometrica, Journal of Political Economy, International Economic Review, and European Economic Review, among others. His books include, Economics (Houghton-Mifflin, sixth edition, 2009), Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis (Hoover Institution Press, 2009), Inflation, 24 M2372 - BOWMAKER TEXT.indd 24 29/9/10 11:36:32 Principles of macroeconomics – John B. Taylor 25 Unemployment and Monetary Policy (MIT Press, 1998), co-authored with Robert Solow, and Macroeconomics: Theory, Performance and Policy (W.W....
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