The Hoover Institution hosted "Rules for International Monetary Stability" on Friday, April 21, 2017 from 10:00am - 11:45am EST. 

The perceived negative consequences of spillovers from the actions of central banks around the world have led to increasing calls for international monetary policy coordination. Rules for International Monetary Stability reports on the results of a Hoover Institution conference that brought together academics, financial experts, and policy makers to focus on the need for a classic rules-based reform of the international monetary system. 

Hoover scholars and editors  John TaylorMichael Bordo, and Richard Clarida, discussed how monetary policy has deviated from a rules-based approach in much of the world and economic performance and stability has deteriorated and how proposals for rules-based reform in each country would deliver a rules-based international monetary system that can better reconcile reasonable free and open markets with independent national policies and stability. 

FRIDAY, April 21
Time Content Presenters/panelists

10:00-10:10 aM


John B. Taylor, Hoover Institution and Stanford University

10:10-10:30 aM

Historical Perspective on the Importance of Rules in the International Monetary System

Michael Bordo, Hoover Institution and Rutgers University 
Catherine Schenk, University of Glasgow

10:30-10:50 AM

An International Monetary System Built on Policy Rules and Strategies

John B. Taylor, Hoover Institution and Stanford University

10:50-11:10 AM

National Monetary Policies Often Correlate, May Sometimes Coordinate, but Rarely Cooperate

Richard Clarida, Columbia University & PIMCO

11:10-11:45 AM

Discussion and Q&A



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