John B. Taylor
Definition of 'John B. Taylor'
Taylor was born in 1946 in Minneapolis, Minnesota. He received a B.A. in economics from the University of Minnesota in 1968 and a Ph.D. in economics from Stanford University in 1973.
After graduating from Stanford, Taylor held faculty positions at the University of Chicago, Princeton University, and the University of California, Berkeley. He was also a visiting scholar at the Federal Reserve Bank of Minneapolis and the International Monetary Fund.
In 1994, Taylor was appointed Under Secretary of the Treasury for International Affairs by President Bill Clinton. In this role, he was responsible for advising the President on international economic policy.
In 1998, Taylor returned to academia as the Mary and Robert Raymond Professor of Economics at Stanford University. He is also a research associate at the National Bureau of Economic Research and a member of the American Academy of Arts and Sciences.
Taylor's research focuses on monetary policy, macroeconomics, and international finance. He is best known for his work on the Taylor rule, which is a formula for setting the federal funds rate. The Taylor rule has been used by central banks around the world to set monetary policy.
Taylor is also a frequent commentator on economic policy. He has written for The Wall Street Journal, The New York Times, and The Financial Times. He has also testified before Congress on several occasions.
In 2009, Taylor was awarded the Nobel Prize in Economics for his work on monetary policy. He is the only American economist to have won the Nobel Prize in Economics since 1999.
Taylor is a leading expert on monetary policy and his work has had a significant impact on the field of economics. He is a highly respected economist and his insights are valuable to policymakers around the world.
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