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John Taylor Defends a Rules-Based Monetary Policy

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Published August 5, 2021

When it comes to economic policy, many policy makers find it beneficial to be inconsistent. Discretionary policy makes it easy for policy makers to do whatever they want, whenever they want. Instead, they should follow a rules-based policy, leading to greater accountability, predictability, and consistency over time.

Additional Resources:

  • Watch “Monetary Policy: Rules vs. Discretion,” with John Taylor, on PolicyEd. Available here.
  • Watch “Understanding Monetary Policy,” with John Taylor, on PolicyEd. Available here.
  • Watch the series Econ 1, with John Taylor on PolicyEd. Available here.