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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Interviews

John Taylor: The Role Of Bankruptcy Reform In Addressing Too-Big-To Fail

by John B. Taylorvia United States Senate Committee on Banking, Housing and Urban Affairs
Wednesday, July 29, 2015

Hoover Institution fellow John Taylor gives a testimony before the Subcommittee on Financial Institutions and Consumer Protection on the necessity of bankruptcy reform.

Analysis and Commentary

Does The Fed Have A Monetary Policy Strategy?

by John B. Taylorvia Economics One
Wednesday, July 22, 2015

The subject of a monetary policy strategy for the Fed came up in Congressional hearings I testified at today and last week. Today the hearing focused on the bill to require the Fed to describe its strategy or rule for the systematic adjustment of its policy instruments.

Interviews

John Taylor: Who's To Blame For Greece's Broken Economy?

by John B. Taylorvia CNBC
Friday, July 10, 2015

Hoover Institution fellow John Taylor discusses the broken economy in Greece.

John B. Taylor
Analysis and Commentary

A Deal And A Step To International Monetary Reform

by John B. Taylorvia Economics One
Thursday, July 9, 2015

I make the case in this Wall Street Journal piece and in more detail in Congressional testimony that there’s an opportunity for a deal between the Congress and the Administration on international monetary reform.

Analysis and Commentary

The Lesson Greece’s Lenders Forgot

by John B. Taylorvia The Wall Street Journal
Thursday, July 9, 2015

To avoid bailouts and foster stability, the IMF used to refuse loans to countries with unsustainable public debt. It worked, until Greece got an exemption.

Analysis and Commentary

The Raisin Case: A Breeze Not A Wind Of Economic Freedom

by John B. Taylorvia Economics One
Saturday, June 27, 2015

The famous raisin case officially closed last week. As part of an old and ongoing government program to intervene in the raisin market to support the price, the government tried to take raisins away from a California raisin grower, Marvin Horne, and thus off the free market.

Analysis and Commentary

Growth Accounting For A Liberated Recovery

by John B. Taylorvia Economics One
Monday, June 22, 2015

For several years I’ve argued that economic policy is holding the economy back and that a return to the principles of economic freedom would recreate a fast-growing recovery

John Taylor
Analysis and Commentary

Stanford’s Economics 1 Course Open And Online

by John B. Taylorvia Economics One
Saturday, June 20, 2015

This summer Stanford will be offering an open online version of my on-campus course Principles of Economics. People can find out more and register for the course, Economics 1, on Stanford’s free open on-line platform. The course starts on Monday (June 22). The first week’s lecture and study materials are now posted.

Analysis and Commentary

IMF Reforms And Global Economic Stability

by John B. Taylorvia U.S. House Committee on Financial Services
Thursday, June 18, 2015

Hoover Institution fellow John B. Taylor gives his testimony before the Congressional Subcommittee on Monetary Policy and Trade regarding global monetary policy.

Analysis and Commentary

The Economic Effects Of A Fiscal Consolidation Strategy

by John B. Taylorvia U.S. House Committee on the Budget
Wednesday, June 17, 2015

Hoover Institution fellow John B. Taylor gives his testimony before the Congressional Committee on the Budget regarding bringing the U.S. federal budget back into balance.

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