Creator of Taylor’s rule, at the UFM

John B. Taylor and UFM’s President, Giancarlo Ibárgüen S., at the Friedrich A. Hayek Auditorium

John B. Taylor, creator of the Taylor rule on interest rates and Gross Domestic Product, visited the Francisco Marroquín University and reunited with professors of this house of studies last June 22nd 2006.

Taylors rule «recommends» a high interest rate, or a tight monetary policy, when inflation is higher than the goal, or when the economy is above the full employment level; and a relatively low interest rate, or a loose monetary policy, in opposite situations.

During his visit to the UFM, Taylor met with UFM’s President, Giancarlo Ibárgüen S., who showed him the Academic Building and its Socratic Wing; as well as the Ludwig von Mises Library and the work done at the New Media Digital Resources Center.

At the UFM’s Agora, he met with the deans of the Economic Sciences School and the Buisness School, Wenceslao Gímenez-Bonet and Juan Carlos Cachanosky, respectively. He also met with Fritz Thomas, future dean of the Economic Sciences School and the professors Ramón Parellada, Hugo Maúl and Julio H. Cole.

Taylor is Raymond Professor of Economics at the Stanford University and McCoy Senior Fellow at the Hoover Institution.  His expertise areas are monetary politics, fiscal policy and international economics.  His research is widely used by governments, the financial community and central banks all around the world.

He was founding director of the Standard Introductory Economics Center and is author of several text books on introductory and intermediate economics, such as Economics, Principles of Microeconomics  and Principles of Macroeconomics, published by Houghton Mifflin.

Between 2001 and 2005, Taylor was Under Secretary of Treasury for International Affairs in the United States of America.

John B. Taylor has a B.A. in Economics, Summa Cum Laude, at Princeton University; and a Ph.D. in Economics from Stanford University.

He is in Guatemala participating in the XV Cycle of Economic Journeys organized by the central bank of Guatemala, where he lectured the conference titled Implications of Globalization for Monetary Policy.

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