Regional President Speech

Search Site Home > James Bullard, President and CEO > James Bullard - Speeches, Presentations and Commentary > International Monetary Stability: A Multiple Equilibria Problem? From the President Key Policy Papers Speeches, Presentations and Commentary Research Papers Media Interviews May 5, 2016 St. Louis Fed President James Bullard addresses two ways of approaching the classic question of whether monetary policy should be better coordinated across countries. The traditional approach assumes all central banks follow “good” policy, de ned as obeying the Taylor principle. In the alternative view, some countries do not follow the Taylor principle and, therefore, have “bad” policy. The rst approach leads, in theory, to a unique worldwide equilibrium; the second approach leads to multiple equilibria with potentially more volatility in global nancial markets. The choice of which way to look at this question these days, in a post-crisis world, may come down to a judgment of whether U.S. and foreign policymakers are still following “good” policy rules as they were, in theory, before the nancial crisis. Bullard’s remarks were prepared as part of a panel discussion at a conference at the Hoover Institution at Stanford University in California. Presentation (pdf) | Press Release James Bullard President and Chief Executive O cer Bio Curriculum Vitae Staff Contacts IDEAS/RePEc Pro le Photos Videos Subscribe: Email alerts RSS "Rationally, let it be said in a whisper, experience is certainly worth more than theory." Amerigo Vespucci GENERAL Home About Us Bank Supervision Careers Community Development Economic Education Events Inside the Economy Museum Newsroom On the Economy Blog Open Vault Blog OUR DISTRICT Little Rock Branch Louisville Branch Memphis Branch Agricultural Finance Monitor Housing Market Conditions SELECTED PUBLICATIONS Bridges Economic Synopses Housing Market Perspectives In the Balance Page One Economics The Quarterly Debt Monitor Review Regional Economist ST. LOUIS FED PRESIDENT James Bullard's Website INITIATIVES Center for Household Financial Stability Dialogue with the Fed Federal Banking Regulations FOMC Speak In Plain English - Making Sense of the Federal Reserve Timely Topics Podcasts and Videos DATA AND INFORMATION SERVICES CASSIDI® FRASER® FRED® FRED® Blog GeoFRED® IDEAS FOLLOW THE FED Twitter Facebook YouTube Google Plus Email Subscriptions RSS CONTACT US | LEGAL INFORMATION | PRIVACY NOTICE & POLICY | FEDERAL RESERVE SYSTEM ONLINE 

James Bullard (2016, May 4). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_20160505_james_bullard

@misc{wtfs_regional_speeche_20160505_james_bullard,
  author = {James Bullard},
  title = {Regional President Speech},
  year = {2016},
  month = {May},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_20160505_james_bullard},
  note = {Retrieved via When the Fed Speaks corpus}
}