Policy Stability and Economic Growth: Lessons from the Great Recession

John B. Taylor

Policy Stability and Economic Growth: Lessons from the Great Recession
Format
Paperback
Publisher
Institute of Economic Affairs
Country
United Kingdom
Published
11 February 2016
Pages
112
ISBN
9780255367196

Policy Stability and Economic Growth: Lessons from the Great Recession

John B. Taylor

John Taylor is one of the foremost economists of our generation. His ideas were implemented in central banks across the world during the period of price stability, economic growth and financial stability that followed the 1980s. This period culminated in the financial crisis of 2008 which was followed by a very slow recovery which, seven years on, can hardly be said to be complete. This book presents Taylor’s view of the financial crisis and its aftermath.Taylor argues that deviating from strict policy rules, both before and since the crisis, contributed to the events of 2008-13 and, especially, the very slow recovery in national income after the financial crisis. Furthermore, in other areas of government activity, such as regulation and law-making more generally, instability is being created, which is very bad for the economy.

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