Macro Musings with David Beckworth David Papell on the History, Motivations, and Current Applications of Monetary Policy Rules
Nov 20, 2023
David Papell, Professor of economics at the University of Houston, discusses the origins and current applications of monetary policy rules. They explore the incorporation of new frameworks into the Taylor rule, the Federal Reserve's perspective on interest rates, the popularity of the Taylor rule, the influence of John Taylor, the importance of real-time data, different measures of the output gap, and inertial and non-inertial rules in monetary policy.
Chapters
Transcript
Episode notes
1 2 3 4 5 6 7
Introduction
00:00 • 5min
Incorporating the New Framework and History of Monetary Policy Rules
04:49 • 21min
Understanding the Fed's Perspective and Future Interest Rates
25:38 • 2min
Exploring the Popularity and Association of the Taylor Rule
28:03 • 3min
The Influence of John Taylor and the Importance of Real-Time Data
30:56 • 2min
Exploring Different Measures of the Output Gap
32:36 • 4min
Inertial and Non-Inertial Rules in Monetary Policy
37:02 • 17min