John B. Taylor

George P. Shultz Senior Fellow in Economics
Awards and Honors:
American Academy of Arts and Sciences
Econometric Society (elected fellow)
Economics Distinguished Faculty Teaching Award
(2015)
Biography: 

John B. Taylor is the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University. He chairs the Hoover Working Group on Economic Policy and is director of Stanford’s Introductory Economics Center.

Taylor's fields of expertise are monetary policy, fiscal policy, and international economics. His book Getting Off Track was one of the first on the financial crisis; his latest book, First Principles, for which he received the 2012 Hayek Prize, develops an economic plan to restore America’s prosperity.

Taylor served as senior economist on President Ford's and President Carter’s Council of Economic Advisers, as a member of President George H. W. Bush's Council of Economic Advisers, and as a senior economic adviser to Bob Dole’s presidential campaign, to George W. Bush’s presidential campaign in 2000, and to John McCain’s presidential campaign. He was a member of the Congressional Budget Office's Panel of Economic Advisers from 1995 to 2001. From 2001 to 2005, Taylor served as undersecretary of the Treasury for international affairs where he was responsible for currency markets, international development, for oversight of the International Monetary Fund and the World Bank, and for coordinating policy with the G-7 and G-20.

Taylor received the Bradley Prize from the Bradley Foundation and the Adam Smith Award as well as the Adolph G. Abramson Award from the National Association for Business Economics. He was awarded the Alexander Hamilton Award for his overall leadership at the US Treasury, the Treasury Distinguished Service Award for designing and implementing the currency reforms in Iraq, and the Medal of the Republic of Uruguay for his work in resolving the 2002 financial crisis. At Stanford he was awarded the George P. Shultz Distinguished Public Service Award, as well as the Hoagland Prize and the Rhodes Prize for excellence in undergraduate teaching. He is a fellow of the American Academy of Arts and Sciences and the Econometric Society; he formerly served as vice president of the American Economic Association.

Taylor formerly held positions as professor of economics at Princeton University and Columbia University. Taylor received a BA in economics summa cum laude from Princeton University in 1968 and a PhD in economics from Stanford University in 1973.

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John B. Taylor

Taylor testifies before the Joint Economic Committee

by John B. Taylorvia Hoover Institution
Thursday, March 27, 2014

Hoover senior fellow John Taylor testified before Congress’s Joint Economic Committee at the hearing on Unwinding Quantitative Easing: How the Fed Should Promote Stable Prices, Economic Growth, and Job Creation. Read his testimony here; watch it here (Taylor begins at time 1:14:27).

After Unconventional Monetary Policy

by John B. Taylorvia Economics Working Papers
Wednesday, March 26, 2014

Economics Working Paper WP14108

Analysis and Commentary

Why the IMF’s Exceptional Access Framework is So Important

by John B. Taylorvia Economics One
Tuesday, March 25, 2014

In today's editorial on the IMF legislation before Congress the Wall Street Journal refers to my oped of several weeks ago in which I strongly criticized the IMF for breaking its own rules in its “...

Analysis and Commentary

You Can’t Connect the [Fed’s] Dots Looking Forward

by John B. Taylorvia Economics One
Sunday, March 23, 2014

Many commentators view last week’s Fed meeting (including the FOMC statement, the Chair’s press conference, commentary from FOMC members) as another move toward more discretion and away from rules-...

Federal Reserve

Taylor on the Santelli Exchange: “that’s not anything like a systematic rules-based policy”

by John B. Taylorvia CNBC
Friday, March 21, 2014

Hoover senior fellow John Taylor discusses the Fed on CNBC’s Santelli Exchange. Topics include the Taylor rule and the Fed’s discretion-based policy.

Analysis and Commentary

Why Still No Real Jobs Takeoff?

by John B. Taylorvia Economics One
Friday, March 7, 2014

For each month of this recovery, I've been tracking the change in the employment-to-population ratio and comparing it with the recovery from the previous deep recession in the 1980s.  Here is the l...

Analysis and Commentary

The 2014 G20 Growth Agenda and the 2003 G7 Agenda for Growth

by John B. Taylorvia Economics One
Friday, March 7, 2014

At their meeting in Sydney last month the G20 announced a promising new “G20 Growth Agenda.” They centered the initiative on a goal of raising real GDP by over $2 trillion (see communique paragraph...

Analysis and Commentary

Why It’s Hard to Make the Unpopular Stimulus Look Good

by John B. Taylorvia Economics One
Friday, February 28, 2014

Some columnists have been using the 5-year anniversary of the 2009 discretionary fiscal stimulus package to claim that it worked to jump-start the economy.  It’s a tough case to make.  The very wor...

Analysis and Commentary

A Small Step Toward Monetary “Coordination” at the G-20?

by John B. Taylorvia Economics One
Monday, February 24, 2014

This weekend’s G-20 statement reiterated the concerns—largely coming from emerging market countries—about unconventional monetary policies (UMP). But the language of the central bankers and finance...

Analysis and Commentary

Next Time Remember the Lessons from Stimulus Packages

by John B. Taylorvia Economics One
Monday, February 17, 2014

It's the five-year anniversary of the 2009 stimulus package. I've done a slew of empirical research on the stimulus in those years from predicting in advance that its impact would be small to estim...

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