News
News
slide shows
calendar
news releases
hoover daily report
what’s new

Hoover Daily Report items by John B. Taylor

Jump to Featured Commentary | Blogs | Interviews | Other Media

February 13, 2014 | Wall Street Journal

Obama and the IMF Are Unhappy With Congress? Good

January 1, 2014 | Wall Street Journal

The Economic Hokum of 'Secular Stagnation'

October 28, 2013 | Wall Street Journal

Economic Failure Causes Political Polarization

September 18, 2013 | Economics One

Debt Explosion Unchanged: Looks the Same as Five Years Ago

The CBO’s 2013 Long-Term Budget Outlook released this week made a lot of news because it appeared to paint a new and surprisingly bleak budget picture. But in reality, the budget outlook is little ...
September 18, 2013 | Defining Ideas (Hoover Institution)

What Economic Recovery?

July 11, 2013 | Wall Street Journal

Once Again, the Fed Shies Away From the Exit Door

June 20, 2013 | Economics One

The Fed’s New View is a Little Less Scary

May 15, 2013 | Wall Street Journal

How to Let Too-Big-To-Fail Banks Fail

April 10, 2013 | Uncommon Knowledge

Uncommon Knowledge with John Taylor

March 24, 2013 | Wall Street Journal

A Better Strategy for Faster Growth

March 18, 2013 | Wall Street Journal

How the House Budget Would Boost the Economy

January 28, 2013 | Wall Street Journal

Fed Policy Is a Drag on the Economy

November 6, 2012 | Economics One

Strengthening of America

October 30, 2012 | Defining Ideas (Hoover Institution)

Intro to Romneynomics

October 3, 2012 | Wall Street Journal

The Romney Cure For Obama-Induced Economic Ills

September 16, 2012 | Wall Street Journal

The Magnitude of the Mess We're In

September 11, 2012 | Wall Street Journal

The Hidden Costs Of Monetary Easing

September 8, 2012 | Wall Street Journal

When Volcker Ruled

Lessons from the man who led the U.S. through four decades of economic storms...
July 14, 2012 | City Journal

The Road to Recovery

As Hayek taught, freedom and the rule of law drive prosperity...
July 5, 2012 | Wall Street Journal

Monetary Policy and the Next Crisis

Low interest rates and international capital flows, not a 'saving glut,' were to blame for the 2008 crash...
July 3, 2012 | San Francisco Chronicle

Slowing Foreclosures Will Harm Housing Market

June 1, 2012 | Wall Street Journal

Rules for America's Road to Recovery

As Hayek taught us, predictable policies will help restore economic prosperity and preserve freedom...
March 29, 2012 | Wall Street Journal

The Dangers of an Interventionist Fed

A century of experience shows that rules lead to prosperity and discretion leads to trouble...
February 22, 2012 | Wall Street Journal

A Better Grecian Bailout

The fears of contagion from Athens were always exaggerated. Now the issues are whether Greece will reform and whether Europe will cut it off if it doesn't...
January 25, 2012 | Wall Street Journal

Economics for the Long Run

Individuals should be free to decide what to produce and consume, and their decisions should be made within a predictable policy framework based on the rule of law...
November 1, 2011 | Wall Street Journal

A Slow-Growth America Can't Lead the World

After World War II, the U.S. promoted international economic growth through reliance on the market and the incentives it provides. Times have changed...
October 4, 2011 | Wall Street Journal

Stimulus Has Been a Washington Job Killer

The political graveyards are full of politicians who thought that temporary, targeted economic policies would get them re-elected...
September 7, 2011 | New York Times

Not More of the Same

The debt-limit cum spending-control agreement reached this summer is a natural starting place for a new economic strategy...
August 17, 2011 | Wall Street Journal

Medicare Reform: Obama vs. Ryan

The GOP plan is more effective but may work better if the spending limits are set the way the president proposed...
July 21, 2011 | Wall Street Journal

The End of the Growth Consensus

America added 44 million jobs in the 1980s and '90s, when both parties showed they had learned from past mistakes. The lessons have been forgotten...
June 2, 2011 | Wall Street Journal

In Praise of Debt Limit 'Chicken'

Yesterday 150 economists released a statement saying a higher debt ceiling should be tied to spending reform now...
May 26, 2011 | Bloomberg

After Revolution, the Hard Part

This week's discussion on the economic impact of democratic change in the Middle East reminds me of the upheaval that transformed Poland from a centrally planned economy to a capitalist one two decades ago...
April 22, 2011 | Wall Street Journal

Obama's Permanent Spending Binge

If government got by with 20% of GDP in 2007, why not in 2021, when GDP will be substantially higher...?
April 12, 2011 | Wall Street Journal

Spending Cutters Gain Credibility

We really never know whether a play is a game-changer until after the game, and even then it's debated. But this may well be one of those plays...
April 4, 2011 | Wall Street Journal

Time for a Budget Game-Changer

Assurance that current tax levels will remain in place would provide an immediate stimulus. House Republican budget planners are on the right track...
January 28, 2011 | Wall Street Journal

A Two-Track Plan to Restore Growth

Our economic wounds are self-inflicted. Changing fiscal and monetary policies could make a difference fast...
December 9, 2010 | Wall Street Journal

The Obama Stimulus Impact? Zero

Liberals are still arguing that the federal spending stimulus wasn't large enough. How many multiples of nothing—its result according to new evidence—would they like...?
December 1, 2010 | Investor's Business Daily

Refocus The Fed On Price Stability Instead Of Bailing Out Fiscal Policy

with Congressman Paul D. Ryan
The Federal Reserve's recent announcement that it will purchase $600 billion in Treasury securities has ignited a firestorm of criticism, opening a much-needed debate over the central bank's proper role in economic policy decisions...

November 15, 2010 | Real Time Economics (Wall Street Journal)

Open Letter to Ben Bernanke

We believe the Federal Reserve’s large-scale asset purchase plan (so-called “quantitative easing”) should be reconsidered and discontinued. We do not believe such a plan is necessary or advisable under current circumstances...
September 16, 2010 | Wall Street Journal

Principles for Economic Revival

Our prosperity has faded because policies have moved away from those that have proven to work. Here are the priorities that should guide policy makers as they seek to restore more rapid growth...
September 9, 2010 | Wall Street Journal

A Symposium: What Should the Federal Reserve Do Next?

Near-zero interest rates and unprecedented asset purchases by the Fed have failed to return the U.S. economy to robust growth...
July 20, 2010 | Daily Beast

Cutting National Debt = Stimulus

If we’re not careful—and less spendthrift—the U.S. economy will be heading for a state of permanent recession, argues Stanford economist John B. Taylor...
July 1, 2010 | Wall Street Journal

The Dodd-Frank Financial Fiasco

The bill all but guarantees bailouts as far as the eye can see, while failing to address real problems like Fan and Fred and our outdated bankruptcy code...
May 11, 2010 | Financial Times

Central banks are losing credibility

Whether or not one believes that the €750bn European rescue plan will stabilise financial markets, its consequences for Europe’s economies are surely negative...

May 3, 2010 | Wall Street Journal

How to Avoid a 'Bailout Bill'

A new bankruptcy process is the right way to deal with failing financial institutions...

January 27, 2010 | VoxEu.org (Centre for Economic Policy Research)

Analysing the impact of the Fed’s mortgage-backed securities purchase

There is an ongoing policy debate about when and at what speed the Federal Reserve Bank should reduce its portfolio of mortgage-backed securities (MBS). . . .

January 10, 2010 | Wall Street Journal

The Fed and the Crisis: A Reply to Ben Bernanke

Federal Reserve Board Chairman Ben Bernanke spent most of his speech to the American Economic Association on Jan. 3 responding to the critique that easy monetary policy during 2002-2005 contributed to the housing boom, to excessive risk taking, and thereby to the financial crisis. . . .

October 22, 2009 | United States House of Representatives

Testimony By John B. Taylor Subcommittee on Commercial and Administrative Law Committee on the Judiciary United States House of Representatives

Thank you for the opportunity to provide testimony for this hearing on bankruptcy and non-bankruptcy alternatives for failing non-bank financial institutions...

November 2, 2009 | Forbes

Fuel for the Financial Fire

Conventional question: did the government's quick intervention on Wall Street last year save us from another Great Depression?...

September 17, 2009 | Wall Street Journal

The Stimulus Didn't Work

Is the American Recovery and Reinvestment Act of 2009 working?...

August 31, 2009 | Daily News (NY)

The coming debt debacle: Top economist says President Obama must slash spending, now

New federal budget numbers released last week by the Congressional Budget Office (CBO) ought to be a game-changer for Congress and the Obama administration...

August 25, 2009 | Bloomberg

Taylor Rule Change Will Hurt Fed’s Inflation Fight: John Taylor

The Taylor Rule -- the guideline for central bank interest-rate decisions -- has been the subject of a heated debate among Fed watchers this summer...

August 9, 2009 | Financial Times

Fed does not need more powers

The Obama administration’s financial reform proposals would grant the Federal Reserve significant new powers...

August 1, 2009 | Wall Street Journal

Letter: It’s Worth the Trouble To Value Toxic Assets

The letters (July 27) on our July 20 op-ed on the complexity and pricing difficulty of toxic assets raise practical issues...

July 20, 2009 | Wall Street Journal

Why Toxic Assets Are So Hard to Clean Up

Despite trillions of dollars of new government programs, one of the original causes of the financial crisis -- the toxic assets on bank balance sheets -- still persists and remains a serious impediment to economic recovery...

May 26, 2009 | Financial Times

Exploding debt threatens America

Standard and Poor’s decision to downgrade its outlook for British sovereign debt from “stable” to “negative” should be a wake-up call for the US Congress and administration...

April 1, 2009 | New York Times

The Art of Persuasion at the G-20 Summit

President Barack Obama has tried to reduce the perception of a rift between the United States and member nations of the Group of 20 over how to revive the global economy...

March 23, 2009 | Financial Times

The threat posed by ballooning Federal reserves

An explosion of money is the main reason, but not the only one, to be concerned about last week’s surprise decision by the Federal Reserve to increase sharply its holdings of mortgage backed securities and to start purchasing longer term Treasury securities...

February 9, 2009 | Wall Street Journal

How Government Created the Financial Crisis

Many are calling for a 9/11-type commission to investigate the financial crisis...

November 25, 2008 | Wall Street Journal

Why Permanent Tax Cuts Are the Best Stimulus

The incoming Obama administration and congressional Democrats are now considering a second fiscal stimulus package, estimated at more than $500 billion, to follow the Economic Stimulus Act of 2008...

October 5, 2008 | San Francisco Chronicle

McCain's economic plan boosts middle class

John McCain's economic plan is designed from the ground up to raise incomes and create jobs for Americans - especially middle-class Americans - and get our economy moving again...

September 2, 2008 | Wall Street Journal

John McCain Has A Tax Plan To Create Jobs

John McCain's tax policies are designed to create jobs, increase wages and allow all Americans -- especially those in the hard-pressed middle class -- to keep more of what they earn...

November 5, 2007 | Financial Times

The silver lining in America’s subprime cloud

Turmoil in the US’s financial markets got the top billing in news reports about the recent meetings of the world’s leading international policymakers in Washington...

November 1, 2007 | Washington Post

The Empty Chair at the Iraq Hearings

Effective foreign policy requires paying close attention to economics, not just security and politics...

April 9, 2007 | Human Events Online

The First Shot in the Global War on Terror

Some in the new Congress want to ban the term “global war on terror..."

March 2, 2007 | San Francisco Chronicle

Reinforcing the financial front

Even as Congress and the Bush administration debate the troop surge in Iraq, they should agree immediately to implement a surge on the financial front in the "war on terror."

February 27, 2007 | New York Times

Billions Over Baghdad

Earlier this month, the House Committee on Oversight and Government Reform held a hearing that criticized the decision to ship American currency into Iraq just after Saddam Hussein’s government fell...

July 13, 2006 | Wall Street Journal

Don't Talk the Talk

Last summer, I wrote a piece, "Lessons Learned from the Greenspan Era," for the Jackson Hole monetary conference, arguing that the remarkable U.S. economic performance since the early 1980s could extend well beyond the Greenspan era if the Fed followed certain policy principles: raise the fed funds rate by more than any incipient increase in the inflation rate; cut the funds rate when the economy weakens; commit to price stability; be predictable…

April 19, 2006 | Wall Street Journal

Loan Rangers

When finance ministers and central bank governors gather in Washington for the spring meeting of the International Monetary Fund later this week, they will be greeted with a host of new proposals for institutional change...

August 15, 2005 | Wall Street Journal

What Comes After 'Bretton Woods II'?

The recent policy shift in China from a pegged to a flexible exchange rate regime starts a new chapter in international finance, comparable to the dramatic end of the Bretton Woods system of pegged exchange rates in 1971...

Blogs

April 5, 2014 | Economics One

Transparency for Policy Wonks

March 29, 2014 | Economics One

Where Do Policy Rules Come From?

March 25, 2014 | Economics One

Why the IMF’s Exceptional Access Framework is So Important

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 “...
March 23, 2014 | Economics One

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

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-...
March 7, 2014 | Economics One

Why Still No Real Jobs Takeoff?

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...
March 7, 2014 | Economics One

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

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...
February 28, 2014 | Economics One

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

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...
February 24, 2014 | Economics One

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

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...
February 17, 2014 | Economics One

Next Time Remember the Lessons from Stimulus Packages

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...
January 31, 2014 | Economics One

First Principles Versus Secular Stagnation

With real GDP and employment data now in for all of 2013, the recovery still looks about as weak as ever. Sure, it’s good news that growth picked up again in the 3rd and 4th quarter, but  the three...
January 25, 2014 | Economics One

The Great Global Unwinding

If there is a common factor in the recent global market turbulence it is the inevitable unwinding of unconventional US monetary policy.  Evidence for this connection appeared last May and June when...
January 18, 2014 | Economics One

Valuable Dissent to the Transportation Research Board’s Special Stimulus Report

This past week the Transportation Research Board released its Special Report from the "Committee on Economic and Employment Benefits of Transportation Investments in Response to Economic Downturns....
January 5, 2014 | Economics One

Will the Real “Secular Stagnation Thesis” Please Stand Up

Last Thursday I published an oped in the Wall Street Journal criticizing the new “secular stagnation” view as put forth by Larry Summers in a talk at an IMF conference in November. The topic was al...
December 24, 2013 | Economics One

Catching Up on Some Hot Debates Over Monetary Policy

A blog by John B. Taylor
December 20, 2013 | Economics One (blog)

Clarifying Some Key Taylor Rule Calculations

A blog by John B. Taylor
December 5, 2013 | Economics One

Response to an Email About QE and a Letter

Recently I received an email with this question about my views on quantitative easing and a letter I signed with others: “I have a question about the letter you signed back in 2010 asking the Fed n...
November 23, 2013 | Economics One

Two Amazing Charts

Research by Christopher Erceg and Andrew Levin is providing solid evidence that the decline in the labor force participation rate since 2007 has been due to cyclical factors--the recession and slow...
November 20, 2013 | Economics One

Krugman’s Slack

In a piece yesterday, Paul Krugman disagrees with my assessment that there was more overheating than slack in the economy in the years leading up to the 2007-09 recession and financial crisis. That...
November 18, 2013 | Economics One

The Problem is Policy Not a Secular Decline in the Real Interest Rate

Larry Summers’ recent talk on what ails the US economy  at the November 8 IMF conference is getting a lot of attention. I first heard Larry present his argument at the October 1 Brookings-Hoover co...
November 10, 2013 | Economics One

It’s Not Doves v Hawks, It’s Rules v Discretion

For years commentators have endeavored to classify monetary policy makers into doves and hawks.  Doves are said to be more concerned with unemployment. Hawks are supposedly more concerned with infl...
October 31, 2013 | Economics One (blog)

Extreme Policies Are a Big Problem, Despite Naysayer

In a recent post, Paul Krugman commented on my Wall Street Journal article published this week. He tries to go after two paragraphs in particular, but misses on both. In the next to last paragraph ...
October 22, 2013 | Economics One

Short Course on Policy Rules–Including Yellen’s Variant

In a recent interesting article, "The Yellen Fed? Precise and Predictable," Catherine Rampell assesses Janet Yellen along the discretion/rules-based dimension rather than the hawk/dove dimension wh...
October 19, 2013 | Economics One

Reviewing the “Too Low For Too Long” Evidence

In her  article “Alan Greenspan: What Went Wrong” in the Wall Street Journal Alexandra Wolfe considers whether monetary policy played a role in exacerbating the housing boom going into the financia...
October 15, 2013 | Economics One

Congratulations Banco de Mexico

Twenty years ago, a new legal requirement for central bank independence was introduced in Mexico. Here is the English translation: The State shall have a central bank, which shall be autonomous in ...
October 14, 2013 | Economics One

Big Question at Fund-Bank Meetings: What’s With QE3?

While the shutdown-debt limit talks continue in Washington, thousands of financial people from the private and the public sectors throughout the world (including me) crowded into town this weekend ...
October 8, 2013 | Economics One

Where the New Chair Might Lead the Fed

Congratulations to Janet Yellen. The new chair’s most important challenge, in my view, is to lead the Fed toward a more predictable, less interventionist, more rules-based monetary policy of the ki...
October 7, 2013 | Economics One

The Uncertainty Debate: Now a Hot Research Topic

The impact of uncertainty—in particular policy uncertainty—is a hot topic of debate in the press and the blogosphere.  So the Dallas Fed decided to hold a conference last week to explore the issue....
October 2, 2013 | Economics One

A Candid Exchange of Different Views of the Crisis

Yesterday the Hoover Institution and the Brookings Institution held an unusual joint conference on “The U.S. Financial System – Five Years after the Crisis.”   Roughly half the participants were at...
September 28, 2013 | Economics One

Shoven Says: Defer Social Security Benefits

John Shoven's practical advice on when people should start taking Social Security benefits is rightly getting  increased attention. The economics is quite straight forward, and baby boomers should ...
September 27, 2013 | Economics One

The Raisin Reserve: On the Way Out?

For many years I have used the California raisin market as an illustration of the effects of government intervention, even dressing up as a California raisin and dancing, as in the famous advertise...
September 22, 2013 | Economics One

A New Economics 1 at Stanford

Tomorrow Stanford embarks on a new principles of economics course at the introductory level. For the first time since the financial crisis we will be teaching the course in one term. I will be doin...
September 16, 2013 | Economics One

With Better Policy, the Recovery Could Have Been V-Shaped

Some are still arguing that the prolonged slow recovery from the deep recession of 2007-09 was to be expected. Fast rebounds, or V-shaped recoveries, are a thing of the past, they argue, citing the...
September 10, 2013 | Economics One

Four Posts Within a Post Remembering 9/11

Here are four posts recalling life in the U.S. Treasury on 9/11 and afterwards Flying Back to Treasury on 9/11: I was in a hotel room in Tokyo when the first plane hit the World Trade Center, recen...
September 9, 2013 | Economics One

My Take on the Middle-Out View

Here is my Wall Street Journal column.  If you're interested in the of path of incomes year by year, the chart below shows real income growth for the 90% and 10% income groups. The data come from E...
September 8, 2013 | Economics One

MacroMania on Nominal GDP Targeting and the Taylor Rule

David Andolfatto has a interesting technical piece on MacroMania called "Nominal GDP Targeting and the Taylor Rule" in which he derives a relationship between the two, following up on a point by Ch...
September 5, 2013 | Economics One

Toward Free Exchange Rather Than Capital Controls

In Capital Controls: Against the Tide, the Economist’s Free Exchange (R.A.) described this week how macroeconomists are getting more and more comfortable with the idea of capital controls. Unfortun...
September 3, 2013 | Economics One

Detecting the Source of Our Recent Poor Economic Performance

I have been arguing that highly discretionary (versus rules-based) macro policy provides the best explanation for generally poor macroeconomic performance, such as recent years, in comparison with ...
August 30, 2013 | Economics One

Education Performance for Minorities: California vs. Texas and Elsewhere

I have heard more people talk about leaving California this year than at any other time in the past three decades, and I know quite a few who have already left, several for the second biggest popul...
August 29, 2013 | Economics One

A Crisis May Be Worst Time to Deviate from Rules

In the Money interview with me which Melissa Francis posted yesterday she delved into two of my First Principles—the importance of the rule of law and rules-based policy—pointing out that many peop...
August 27, 2013 | Economics One

Say No To Macro-Prudential Fine-Tuning

In an article in the Wall Street Journal John Cochrane raises serious doubts about  recent “macro-prudential" policy proposals.   I hope the Fed listens. The Bank of England has already started in ...
August 25, 2013 | Economics One

Jackson Hole: Then and Now

Quite a few people expressed interest in my tweet on the very high ratio of men to women at the 1982 Jackson Hole conference: 23 to 1.  A CNN Money story and Justin  Wolfers tweet reported 6 to 1 t...
August 22, 2013 | Economics One

Who and What is to Blame for the Global Turbulence

The recent large impact of U.S. monetary policy on the rest of the world--especially emerging markets--has understandably been attracting a lot of attention in financial markets with headlines like...
August 12, 2013 | Economics One

What to Call This Very Slow Recovery?

Economists love the word “Great” for significant economic events—such as The Great Depression—probably using it too much.  I’m as guilty as anyone. I used the terms Great Inflation and Great Disinf...
August 3, 2013 | Economics One

Crawling Along

It wasn’t any fun updating my charts this morning with the new data released this week.  None of the charts looked better and some looked worse. The EKG chart showing real GDP growth quarter-by-qua...
August 1, 2013 | Economics One

Don Kohn on Rules-Based Monetary Policy

President Obama just widened the race for Fed chair. Up on Capitol Hill he mentioned Don Kohn along with Larry Summers and Janet Yellen. So we should widen the hunt for things that Don has said tha...
July 31, 2013 | Economics One

Policy Uncertainty Makes Firms Reluctant to Hire: New Evidence

I have been arguing that economic policy--in particular policy unpredictability or uncertainty--has been a factor in the slow recovery.  That’s the main theme of the book I edited with Lee Ohanian ...
July 29, 2013 | Economics One

About Rules-Based Monetary Policy: Summers versus Yellen

The financial press has narrowed down the race for the next Fed Chair to Larry Summers and Janet Yellen. Though there are other candidates with Democratic credentials, such as Alan Blinder and Tim ...
July 12, 2013 | Economics One

Paul Krugman in South Park

July 5, 2013 | Economics One

Make Replication Easy in Economics

July 5, 2013 | Economics One

CBO Is Late, Fireworks Postponed

June 19, 2013 | Economics One

Notes on an Economics Graduation

June 13, 2013 | Economics One

Former Fed Chairs Speak Out

June 6, 2013 | Economics One

Meltzer and Volcker on the Fed

June 3, 2013 | Economics One

Ed Leamer on the Weak Recovery

May 30, 2013 | Economics One (blog)

Unforgettable Economics Lessons in Tombstone

April 29, 2013 | Economics One

Another Take on Reinhart-Rogoff Controversy

April 26, 2013 | Economics One

A Key Issue In the Monetary Policy Debate

April 21, 2013 | Economics One

Coding Errors, Austerity, and Exploding Debt

March 19, 2013 | Economics One

Krugman's Claims Are Wrong

March 18, 2013 | Economics One

Economic Freedom For All

February 3, 2013 | Economics One

Same Old Slow Recovery

January 27, 2013 | Economics One

Break the Silence on the Unemployment Problem

January 17, 2013 | Economics One

A Debt Limit Strategy Rather Than Tactics

January 3, 2013 | Economics One

No Debt Fix In Sight

December 14, 2012 | Economics One

More Monetary Policy Uncertainty

November 21, 2012 | Economics One

A Simple Rule for Monetary Policy After 20 Years

November 11, 2012 | Economics One

Milton Friedman and the Power of Monetary Ideas

November 5, 2012 | Economics One

Stagnation or Real Progress?

October 30, 2012 | Economics One

Updated White Paper on The Romney Program

October 29, 2012 | Economics One

A Monetary Historian's Delight

October 25, 2012 | Economics One

An Unusually Weak Recovery as Usually Defined

October 17, 2012 | Economics One (blog)

Weak Recovery Denial

October 15, 2012 | Economics One (blog)

More on the Unusually Weak Recovery

October 13, 2012 | Economics One (blog)

Getting Tax Reform History Right

October 8, 2012 | Economics One (blog)

Recent Part-time Job Increase Is Not a Good Sign

October 7, 2012 | Economics One (blog)

From Economic Scare Stories to the Other Side of Reality

September 7, 2012 | Economics One

A New Chart Cast on the Bad News Recovery

September 4, 2012 | Economics One (blog)

Strong Push Back At Jackson Hole

August 29, 2012 | Economics One (blog)

Government Policies and the Delayed Economic Recovery

August 27, 2012 | Economics One (blog)

Which Simple Rule for Monetary Policy?

August 13, 2012 | Economics One (blog)

Paul Krugman is Wrong

July 31, 2012 | Economics One

Still Learning from Milton Friedman

July 7, 2012 | Economics One

Gross Capital Flows Grow in Importance

June 24, 2012 | Economics One

The BIS on "The Limits of Monetary Policy"

[The Bank for International Settlements] Annual Report is always worth reading. This is especially true of the Annual Report released today...
June 19, 2012 | Economics One

The GDP Impact a U.S. Fiscal Consolidation Strategy

[Volker] Wieland, [Cogan] Cogan and I, joined by Maik Wolters, are simulating modern macroeconomic models to evaluate a fiscal consolidation strategy to reduce the deficit and end the explosion of the debt...
June 8, 2012 | Economics One

Fed Bought 77% of Federal Debt Increase in 2011: The Data Source

During an interview on CNBC Squawk Box this morning and in my Wall Street Journal oped of last Friday (June 1), I mentioned that the Federal Reserve purchased 77% of the net increase in the debt by the Federal government in 2011...
May 22, 2012 | Economics One

Big Mac and Big Macro

In his presidential address this year before the American Economic Association, Princeton economist Orley Ashenfelter provides an interesting and novel way to calculate and compare real wages over time and across countries...
May 13, 2012 | Economics One

More Evidence on What Is Holding the Economy Back

Of course something is now interfering with the usual economic response, because our current recovery is certainly not springing back to normal...
May 7, 2012 | Economics One

A Diverse and Wide Open Hearing on Fed Reforms

The House Domestic Monetary Policy subcommittee, with Ron Paul in the chair, is holding hearings [today] on six proposed bills to reform the Fed...Two of the bills would refrom the Fed’s dual mandate...
May 2, 2012 | Economics One

Debate and Evidence on the Weak Recovery

Last week’s GDP release is yet more evidence that this recovery has been remarkably weak, and has been so from the start...
April 16, 2012 | Economics One (blog)

New Model Validation of Stimulus Impacts

A paper just published in the American Economic Journal: Macroeconomics sheds additional light on the Keynesian multiplier debate, which has surged since the 2009 stimulus package—ARRA—was enacted...
April 13, 2012 | Economics One (blog)

References to Policy Rules in a Speech by the Fed Vice Chair

In a speech to the Money Marketeers in New York City this past week, Fed Vice Chair Janet Yellen gave a useful description of how she and other policy makers are thinking analytically about monetary policy...
March 31, 2012 | Economics One

Policy Failure and the Great Recession

The debate about the causes of the financial crisis and the great recession will continue for many years, and the facts and analysis that Robert Hetzel put forth in his new book The Great Recession: Market Failure or Policy Failure? should now be part of that debate...
March 29, 2012 | Economics One

A Little Dynamic Scoring of the House Budget

In a recently released report the Congressional Budget Office calculated how debt reduction with the House Budget Resolution (which just passed the House today), would affect GNP in the United States...
March 5, 2012 | Economics One

More Debates about the Stimulus Debate

In a blog post yesterday Paul Krugman repeats a claim made by Christina Romer which he says answers “in devastating fashion” the empirical paper by John Cogan and me...But Romer’s claim actually provides no such answer or rebuttal...
March 2, 2012 | Economics One

Debating Stimulus and Harvard and Stanford

Larry Summers and I debated “Did Fiscal Stimulus Help the Economy?” at Harvard this week...here is a summary of things I said in my opening remarks...
February 21, 2012 | Economics One

Getting Off Track and the Panic of 2008 Revisited

I first wrote about the panic of 2008 (including the Lehman bankruptcy, the AIG bailout, and the rollout of the TARP) in my book Getting Off Track...If you look at the charts in that book you will see a detailed consideration of the daily data...
February 6, 2012 | Economics One

Reassessing the Recovery

What are the implications of all the recent economic reports for an assessment of the recovery from the 2007-09 recession? In my view, they still indicate a very weak recovery...
January 24, 2012 | Economics One

State of the Union: From Ringside to the WSJ

I was at the State of the Union tonight. You cannot help but love the pomp and circumstance of the event...But in between there was much to disagree with, especially from an economic policy perspective...
January 18, 2012 | Economics One

Different Economics Texts for Different Economic Views

Alan Blinder and I are frequently on different sides of economic debates, especially when it comes to the effects of monetary and fiscal policy and the impact of short-term discretionary actions...
January 12, 2012 | Economics One (blog)

American Economic Freedom: Moving in the Wrong Direction

Economic freedom in the United States continues to decline according to the latest Index of Economic Freedom (compiled by the Heritage Foundation) as reported today by Ed Feulner in the Wall Street Journal...
January 7, 2012 | Economics One

No, Austan, Washington Is Spending Too Much

While the Congress was able to make a dent in the Administration’s spending plan, we still have a long way to go to gradually get spending back to 2007 levels, which is the pro-growth thing to do...
December 5, 2011 | Economics One

Restoring Robust Growth in America

Alan Greenspan, George Shultz, Ed Prescott, Steve Davis, Nick Bloom, John Cochrane, Bob Hall, Lee Ohanian, John Cogan and I recently met at the Hoover Institution at Stanford to present papers and discuss the issue with other economists and policy makers...
November 18, 2011 | Economics One

More on Nominal GDP Targeting

I did research on nominal GDP targeting many years ago and found that such targeting proposals had a number of problems...Although much has changed in the past quarter century I find many of the same problems with the recent proposals...
November 1, 2011 | Economics One

More On Economic Freedom and Monetary Policy

My Wall Street Journal article today is quite critical of recent interventionist fiscal and monetary policies in the United States. In my view, they have not only been unhelpful to the American economy, they have also been unhelpful to the world economy...
October 26, 2011 | Economics One

The Texts They Are A-Changin'

How should the introductory economics text change in response the financial crisis, the recession and the very slow recovery...?
October 10, 2011 | Economics One

Congratulations and Thanks to Tom Sargent and Chris Sims

The Nobel Prize committee made an excellent choice in awarding the 2011 economics prize to Tom Sargent and Chris Sims for their influential contributions to macroeconomics...
October 6, 2011 | Economics One (blog)

The Dangers of Misrepresenting Past Economic Debates

“What’s past is prologue,” says Future, the statue at the National Archives...
October 3, 2011 | Economics One

In Praise of an Extraordinary Teacher of Economics

Those of us who teach economics stand on the shoulders of those who taught us economics...
September 25, 2011 | Economics One

Not More of the Same Model Simulations!

Simulations of Mark Zandi’s economic model, which are reported in the press to show that a new temporary stimulus package will create 1.9 million jobs, are being touted as evidence that it will work...But simulations of such models do not provide such evidence...
September 16, 2011 | Echoes (Bloomberg)

End the Fed's Dual Mandate And Focus on Prices

Some argue that a single mandate wouldn't have prevented the recent trend toward highly discretionary monetary policy...But [Daniel] Thorton’s careful historical research suggests otherwise...
September 13, 2011 | Economics One

Two Congressional Hearings on the Second Stimulus and Alternatives

Congress was busy working on fiscal policy today. This morning, over on the House side, it held its first hearing on President Obama’s fiscal stimulus proposal...Over on the Senate side this afternoon, there was a hearing on more comprehensive tax and budget reform...
September 9, 2011 | Economics One

The Financial Front in the War on Terror

Few Americans now remember that the United States launched its first post-9/11 attack on terrorists from a very unusual front—the financial front...
September 8, 2011 | Echoes (Bloomberg)

The First Shot in the War on Terrorism

I think thanks are due to the many people who served in the financial front of the war on terrorism during the last decade -- many in the U.S. Treasury -- for their role in preventing another serious attack of the kind that changed the world 10 years ago...
September 3, 2011 | Economics One

On the New Greatest Generation

With the 10-year anniversary of 9/11 approaching people have been asking me to write about the impact of 9/11 on economic policy making in Washington...and to reflect on how the world has changed since then...
August 24, 2011 | Echoes (Bloomberg)

As Fed Meets, Two Lessons from 30 Years at Jackson Hole

I attended the first monetary-policy symposium in August 1982, and I plan to be there for the 30th meeting this week. I expect that the Tetons will still be there, but virtually everything else will be different. And there are lessons in those differences...
August 21, 2011 | Economics One (blog)

Why the M2 Growth Spurt?

Quantitative Easing (both I and II) has caused the monetary base—the sum of currency and bank reserves—to explode in the past three years, but has not resulted in similarly large increases in the growth of broader measures of the money supply such as M2...
August 19, 2011 | Economics One (blog)

So Much For People To Learn About Medicare Reform

There is so much more for people to learn about the various Medicare proposals out there...
August 15, 2011 | Economics One (blog)

No Near-Consensus Among Economists for Another Stimulus Package

Sunday’s Weekend Edition on NPR gave listeners a chance to hear different economic views on how to reduce the high unemployment rate...
August 12, 2011 | Economics One (blog)

When Economic Principles Were Ignored

In televised speech on Sunday evening August 15, 1971, Richard Nixon shocked the world with these words: “I am today ordering a freeze on all wages and prices throughout the United States for a period of 90 days...
August 11, 2011 | Echoes (Bloomberg)

’Steady As You Go’ Still Good Policy for Uncertain Times

It's time to restore the predictability of sound fiscal and monetary policy, and then return to the mantra of "Steady As You Go"...
August 9, 2011 | Economics One

Regulatory Capture across the Hudson

I think these examples are better than the financial industry examples for teaching, at least at the principles level...
August 7, 2011 | Economics One (blog)

More on the S&P Downgrade

Two years age in an article in the Financial Times I wrote that “Standard and Poor’s decision to downgrade… should be a wake-up call for the US Congress and administration...
August 6, 2011 | Economics One (blog)

Treasury Versus S&P on the Downgrade: It’s Not a Math Error

The White House and the Treasury are accusing Standard and Poor’s of making an elementary arithmetic mistake in the recent downgrade decision...
August 2, 2011 | Economics One

Debating History and Policy with Reich and Krugman

Tonight’s NewsHour debate between me and Robert Reich was about the role of Keynesian fiscal policy in the context of the today’s budget agreement...
August 1, 2011 | Economics One

Why Much Was Accomplished in the Debt/Budget Negotiations

In my view, much was accomplished, and credit goes to all those who have been laying out the arguments and fighting hard for a return to sound fiscal policy as part of a pro-growth program to get the economy moving again...
July 29, 2011 | Economics One

Charting the Disappointing Economic News

The sad economic story in this morning’s GDP release can best be told with three simple charts...
July 27, 2011 | Economics One

The Boehner and Reid Budget Plans Compared

Today the CBO released its updated score of the Boehner budget proposal and the Reid budget proposal. So we can now do an apples-to-apples comparison of the year-by-year numbers in the two plans...
July 19, 2011 | Economics One

What Does Anti-Keynesian Mean?

In my view the essence of the Keynesian approach to macro policy is the use by government officials of discretionary countercyclical actions and interventions to prevent or mitigate recessions or to speed up recoveries...
July 13, 2011 | Echoes (Bloomberg)

A Two-Step Approach to Solving the Budget Impasse

A good two-step approach would be to agree now to $2.5 trillion in spending-growth reductions and to raise the debt ceiling. Then have an open debate about how to close the remaining $3.5 trillion gap next year, during the 2012 election campaign...
July 8, 2011 | Economics One

A Tale of Two Labor Markets: Today and '83-'84

Today’s jobs report provides yet more evidence that this is a recovery in name only...
July 7, 2011 | Echoes (Bloomberg)

On the 10th Anniversary of the Keynesian Revival

The overall experience of the Keynesian revival in the 2000s raises doubts about the effectiveness of these stimulus packages. And it adds more weight to the position reached more than 30 years ago by Robert Lucas, Thomas Sargent and many others...
July 4, 2011 | Economics One

Time To Renew the Principles of 1776

What’s the best way forward for American economic policy? On Independence Day it’s natural to look to the country’s founding principles—political freedom and economic freedom—for an answer...
June 30, 2011 | Economics One

How to Resolve the Stimulus Debate: Use Data Not the Same Models Over Again

The best way to way to deal with this problem is to look empirically at the direct effect of the stimulus using actual data, but without imposing a specific model structure...
June 24, 2011 | Economics One

Unchanged Debt Explosion

CBO’s Long-Term Budget Outlook released this week is essentially the same as last year’s: without a change in policy the debt will explode to over 900 percent of GDP...
June 21, 2011 | Economics One

The Two Year Anniversary of the Non-Recovery

This month marks the two-year anniversary of the end of recession and start of recovery. But it’s a recovery in name only, so weak as to be nonexistent...
June 16, 2011 | Economics One

Why Avoiding Bailouts is Good Policy

Asgeir Jonsson’s interesting and perceptive article in today’s Wall Street Journal provides a clear lesson for students and policymakers alike about the harm that comes from bailouts and the good that comes from avoiding them...
June 11, 2011 | Economics One

Why Not Go For 5% Growth?

Some skeptics have complained about the 5% national economic growth target put forth by former Minnesota Governor Tim Pawlenty...They say it can’t be done. But I think the goal makes a great deal of sense...
June 9, 2011 | Echoes (Bloomberg)

Government Is More to Blame for Weak Recovery Than Fading Stimulus

Just as economists have debated the causes of the financial crisis, they are now debating the causes of the slow, almost non-existent, recovery...
June 6, 2011 | Economics One

Lessons From the Financial Crisis For Teaching Economics

The good news for teaching is that the crisis has left us with many examples where teachers can illustrate basic economic principles...
June 2, 2011 | Echoes (Bloomberg)

A History Lesson for Entitlement Reform

Everyone agrees that cutting spending will require difficult decisions on entitlements. And here is where presidential leadership is so essential -- at least that's the lesson from history...
May 31, 2011 | Economics One

Splitting Difference Would Reduce Federal Spending By $4 Trillion

Currently there are two budgets on the table..[T]he bipartisan agreement should be to reduce spending by between $2 trillion and $6 trillion over ten years. Simply splitting the difference would be $4 trillion...
May 31, 2011 | Economics One

Taylor Rule Recommends Raising Rates

Over here at Economics One, I can report that the Taylor Rule says that the fed funds rate should now be 1 percent, and I can provide the calculations...
May 30, 2011 | Economics One

Regulatory Capture and Reckless Endangerment

How can we prevent regulatory capture and thereby avoid the harmful policy it causes? Studying economics is not enough, at least according to Reckless Endangerment...
May 26, 2011 | Economics One

To the G8: Don’t Let Aid Perpetuate Barriers to Growth in Tunisia and Egypt

In this Bloomberg Echoes post, I argue that the United States should do whatever it can to promote economic freedom in the post-Jasmine Revolution Middle East and North Africa, and strongly support economic leaders who are committed to creating a private market economy...
May 22, 2011 | Economics One

Causation From Base Money To The Multiplier: The QE2 Evidence

During the panic in the fall of 2008 some interpreted the explosion of the Fed's balance sheet and the monetary base (MB)—currency plus reserves of banks at the Fed—as an appropriate monetary policy response to a shift in the demand for the monetary base...
May 18, 2011 | Economics One

Linking the Debt Limit Hike To Spending Cuts Is Good Economics

The principle of linking the debt increase and spending reductions—put forth in a recent speech to the New York Economics Club by Speaker John Boehner—is...an important goal which is worth trying to achieve...
May 14, 2011 | Economics One

More on Seniors, Guns And Money

Paul Krugman returned to the debate with me about federal spending in his New York Times column yesterday...
May 10, 2011 | Economics One

The One Hundred Trillion Dollar Note and Other Visual Aids

Whenever someone says inflation is not caused by central banks printing too much money, I pull out [a one hundred trillion dollar note from Zimbabwe] and tell the story of Zimabwe’s hyperinflation...
May 8, 2011 | Economics One (blog)

Bringing Gadhafi’s Money to Rebels Recalls Bringing Saddam’s Money to Iraqis

The plan to use Moammar Gadhafi’s frozen assets to fund the Libyan rebels faces legal obstacles according to this weekend’s Wall Street Journal story "Obstacles Loom on Path To Funding Libyans"...
May 7, 2011 | Economics One (blog)

New Study Questions Justification For Quantitative Easing

Proponents of Quantitative Easing frequently cite—inappropriately in my view—the Taylor Rule as support, saying that the rule calls for a federal funds rate as low as minus 6 percent, well below the zero bound...
May 5, 2011 | Economics One

How to Avoid the New Bailout Authority

Title II of the Dodd-Frank bill, which creates a new orderly liquidation authority for financial institutions, has recently come under fierce attacks from a variety of perspectives...
May 3, 2011 | Economics One

A Morale Booster for the Financial Front Too

I think thanks are also due to the people who served in the financial front of the war on terror during these ten years—many in the United States Treasury...
April 27, 2011 | Economics One

Spending Rise Has Much To Do With Policy

The running debate between Paul Krugman and me is bringing more facts to bear on important budget and policy issues...
April 26, 2011 | Economics One

Paul Krugman Versus Budget Facts

Yesterday Paul Krugman, citing Brad DeLong's post earlier in the day, joined the commentary on my Wall Street Journal article of Friday which I further discussed in my blog of Sunday...
April 25, 2011 | Economics One

Notches and Disincentives in the Health Care Law

My colleague Dan Kessler writes in today’s Wall Street Journal that Obamacare creates large disincentives to work. I've found the following graph useful for showing students why...
April 24, 2011 | Economics One

On the Budget Debate People Are Saying “All We Want Are the Facts”

...[P]eople are tired of rhetoric and demagoguery. They want to understand each side’s factual position in the debate...
April 15, 2011 | Economics One (blog)

Why a Lack of Transparency in the Administration’s Budget II is a Problem

A transparent budget proposal—such as the Administration’s first 2012 Budget presented by President Obama on February 14 or the House Budget presented by Paul Ryan on April 6—contains year-by-year tables showing the proposed path for government outlays over time...
April 9, 2011 | Economics One

Why the Budget Agreement is a Game Changer

The budget agreement that emerged from last week’s negotiations literally changes the direction of federal spending...
April 7, 2011 | Economics One

The Simple Budget Choice: Remove or Lock-In the Spending Binge

...[A] simple way to look at the budget debate which the country faces in the months ahead (once the budget for 2011 is settled) is whether to remove or lock-in that binge...
April 3, 2011 | Economics One

A Credible Strategy to Reduce Government Spending Growth and Increase Economic Growth

In tomorrow’s Wall Street Journal, Gary Becker, George Shultz and I present the economic case for a credible strategy to reduce the growth of federal government spending, bring the deficit down, and increase economic growth...
April 2, 2011 | Economics One

Another Round on Investment and Unemployment

Paul Krugman responded to my reply to his two critiques of my post on the negative correlation between investment and unemployment...
April 1, 2011 | Economics One

Rebalancing Monetary Policy and the G20 Agenda

Yesterday’s meeting of the G20 finance ministers in China broadened the ongoing “rebalancing current accounts” agenda to consider international monetary policy reform...
March 31, 2011 | Economics One

Investment and Unemployment: A Reply

Paul Krugman wrote a post yesterday afternoon and another one last evening on a January 14 post of mine. In the Janaury post I pointed out the strong correlation between total fixed investment as a share of GDP and the unemployment rate during the past two decades...
March 31, 2011 | Economics One

Investment and Unemployment over Longer Periods of Time

Like Paul Krugman, Justin Wolfers also wrote yesterday about my blog post of January 14 on the correlation between investment and unemployment...
March 29, 2011 | Economics One

A Good Exit Strategy Proposed by Philadelphia Fed President Plosser

Previous statements about exits by Fed officials simply listed the tools that could be used in an exit strategy, but did not actually put forth an exit strategy. In contrast, President Plosser describes a specific strategy...
March 27, 2011 | Economics One

Misunderstanding Prescriptive Versus Descriptive Monetary Policy Rules

Monetary policy rules can be used both for prescriptive and descriptive purposes, but it’s important to be clear about which purpose one has in mind...
March 26, 2011 | Economics One

Blogging Blocked in Beijing

One of the things I like most about blogging is that I can post from anywhere in the world—Tokyo, Milan, Washington—not just from my home or office at Stanford. Well not exactly...
March 25, 2011 | Economics One

Why the Stimulus Failed to Boost Infrastructure in the US: A Comparison With China

Despite its large size, the 2009 U.S. stimulus package failed to increase government infrastructure spending or other government purchases as its promoters had claimed it would...
March 20, 2011 | Economics One (blog)

Straightjackets and “We Rule” Shirts

David Wessel writes about the "straitjacket" of a one-size-fits-all monetary policy in his Wall Street Journal column this week...
March 17, 2011 | Economics One

Evaluating TARP

TARP is not popular with most Americans. Economic evaluations now rolling in support their view, but rather than pointing fingers, it is time to absorb the lessons and take actions...
March 12, 2011 | Economics One

A Credible First Step Toward a New Budget Strategy?

Would a step any smaller than HR1 be credible? The following chart tries to present the basic facts in a simple way...
March 5, 2011 | Economics One

Costs of the New Government Activism

In “Activism,” a paper soon to be published by International Finance and already posted at the Council on Foreign Relations, Alan Greenspan delves into the consequences of the recent surge of what he describes as “government activism..."
March 1, 2011 | Economics One

Lessons Learned from Ben Bernanke's Policy Rule Discussion at the Senate

At yesterday's hearing before the Senate Banking Committee, Fed Chairman Ben Bernanke talked about monetary policy rules in response to a series of questions by Senator Pat Toomey...
February 28, 2011 | Economics One (blog)

Goldman Sachs Wrong About Impact of House Budget Proposal

Some claim that House budget proposal H.R. 1 to reduce the growth of federal government spending will cause a slowdown in the economy and even increase unemployment...
February 19, 2011 | Economics One

2011 is the New 2008 in Federal Budget Debate

The simplest way to understand the proposed budget is that it largely (not completely) undoes this two-year binge and brings spending back to about what agencies had to spend in 2008...
February 16, 2011 | Economics One

The Empty Chairs at the ARRA Hearing

Two years ago this week the 2009 stimulus package was enacted into law, and, to examine its effects, the House Committee on Oversight—Subcommittee on Regulatory Affairs held a hearing chaired by Jim Jordan of Ohio and ranking Member Dennis Kucinich also of Ohio...
February 10, 2011 | Economics One

Is the House on Track to Reverse the Spending Binge?

The goal of the new House leadership is to reverse the spending binge of the past three years. They have already laid out the first step...
February 5, 2011 | Economics One

The Monetary Reform Debate is Joined

The Atlanta Fed, through its “macroblog,” has joined the discussion about reform of the Federal Reserve. It’s a good discussion to have...
February 2, 2011 | Economics One

Learning From Monetary Mistakes and Doritonomics

The lesson for central bankers from the financial crisis is straightforward: do not deviate from policies like the ones that worked well during much of the 1980s and 1990s...
January 31, 2011 | Economics One

More on a Two-Track Plan to Restore Growth

The Wall Street Journal’s choice of a headline for my op-ed last Friday “A Two-Track Plan to Restore Growth,” was a great way to pair the proposed fiscal reform with the proposed monetary reform...
January 19, 2011 | Economics One

A Law Might Speed Up the Taylor Cycle

The phrase in the headline above concludes Amity Shlaes's "amazingly thorough" article on the long cyclical swings between rules and discretion which I documented in a speech at the annual AEA-AFA luncheon in Denver on January 7...
January 14, 2011 | Economics One

Higher Investment Best Way to Reduce Unemployment, Recent Experience Shows

Some economists argue that the efforts now underway to reduce government spending as a share of GDP will have adverse effects on unemployment. This is not what the data show...
January 7, 2011 | Economics One

Historical Evidence on the Benefits of Rules-Based Economic Policies

Each year since 1948 the American Economic Association and the American Finance Association hold a joint luncheon with an invited speaker...This year’s luncheon was held today in Denver, and I was the speaker...
January 3, 2011 | Economics One

New Revealing Study of FOMC References to the Fed's Mandate

Dan Thornton of the Federal Reserve Bank of St. Louis just completed a very revealing paper called What Does the Change in the FOMC’s Statement of Objectives Mean? in which he traces FOMC references to the Fed’s mandate over many years...
December 31, 2010 | Economics One

A Very Good Year for Economics Videos, Especially Cartoons

Short video clips are a good way to get students interested in economics and help them understand the basics...Here are some new videos which I think would be useful in the classroom if placed in context and used to generate discussion...
December 8, 2010 | Economics One

Stimulus Math: Many Multiples of Nothing is Still Nothing

In an article in tomorrow’s Wall Street Journal, John Cogan and I review our research showing why the 2009 stimulus package did little to stimulate the economy, despite its large size...
December 7, 2010 | Economics One

Back to the Ad Hoc Age

The title and the content of Gillian Tett’s short article “Goodbye Moderation, Hello to the Ad Hoc Age,” (FT, Nov 26) describe succinctly the remarkable swing in the pendulum from rules towards discretion in policy in recent years...
December 1, 2010 | Economics One

Toward Price Stability Within a Framework of Economic Stability

Today Congressman Paul Ryan and I published an article explaining the rationale for a reform of the Federal Reserve Act to establish a single “goal of long-term price stability within a framework of economic stability, including clear reporting and accountability requirements...”
November 23, 2010 | Economics One

A Proposal to Restore Reporting and Accountability Requirements for the Fed

In a speech in Washington last week I made a proposal to restore the legislative requirement that the Fed report and be accountable for its strategy for monetary policy...
November 21, 2010 | Economics One

The End of the Recrudescence of Keynesian Economics

This past weekend Columbia University hosted a conference on the occasion of the 40th anniversary of the famous Phelps volume on the micro foundations of macroeconomics...
November 14, 2010 | Economics One

QE2 and G20

An unintended consequence of QE2 has been the strong openly voiced opposition from some of America’s traditional allies as well as those countries, like China, perceived to be on the other side of the bargaining table...
November 5, 2010 | Economics One

Empirical Questions About the Anticipation Effects of QE2

No doubt there will be many empirical studies evaluating the impact of the Fed’s November 3 decision to begin another dose of quantitative easing (QE2)...How can one determine whether stock prices rose and long-term interest rates fell in anticipation of QE2...?
November 3, 2010 | Economics One

Certainly Milton Friedman Would Not Have Supported QE2

Many have asked whether Milton Friedman would have favored the type of massive quantitative easing which the Fed embarked on today. I have argued that he would not...
October 30, 2010 | Economics One

More Evidence on Why the Stimulus Didn't Work

Polls show that most Americans don't believe that the stimulus package worked, but debate continues among economists...
October 27, 2010 | Economics One

A New Normal for Monetary Policy?

A year and a half ago when the Fed’s extraordinary quantitative easing (QE) was shifting from emergency liquidity programs to large scale asset purchases, we convened a conference at Stanford’s Hoover Institution to discuss the shift...
October 24, 2010 | Economics One

Cash for Clunkers in a Macro Context

More empirical studies are demonstrating that temporary fiscal stimulus actions are a poor way to get the economy moving again on a sustainable basis...perhaps the clearest case is the “cash for clunkers” program of July and August 2009...
October 7, 2010 | Economics One (blog)

Beware of Announcement Effects When Assessing Policy Interventions

The effects of exchange market interventions are frequently estimated by looking at what happened on the day of the announcement of the intervention or of the intervention itself...
October 4, 2010 | Economics One

Meltzer’s History Lesson

I recently had the pleasure of reading, and then writing a review of, Allan Meltzer’s monumental A History of the Federal Reserve, Volume 2...The lesson from this thorough 2,112-page history deserves careful consideration by policymakers today...
October 1, 2010 | Economics One

Trading Places: HIPCs and HIICs

I thought of the movie Trading Places when I saw the term HIIC in the headline of today's Wall Street Journal article by Kelly Evans. The new term refers to the "Heavily Indebted Industrialized Countries" and of course to the exploding debt of these countries...
September 30, 2010 | Economics One

Policy Rule Gaps as Forecasts of Currency and Interest Rate Movements

Currency strategists at the Scotiabank are using “policy rule differentials” rather than simple “interest rate differentials” in a creative way to predict interest rate and currency movements...
September 26, 2010 | Economics One

The Transparent Effect of Foreign Interest Rates on Central Bank Decisions

The Norges Bank is a remarkably transparent central bank...While some have criticized publishing future interest rate forecasts, the experiences in Norway and Sweden show that there are advantages of such increased transparency...
September 22, 2010 | Economics One

Senate Budget Committee Reopens Debate on Policy and the Crisis

In a hearing today, the Senate Budget Committee reopened the debate about whether the stimulus packages and other federal interventions have been effective...
September 18, 2010 | Economics One

Timely Views on Deflation from Governor Shirakawa

For years economists and policymakers in the United State have been expressing fears that America would enter a Japanese-style deflation...It was therefore very helpful and quite refreshing that Bank of Japan Governor Masaaki Shirakawa’s chose to address this issue in a speech this week...
September 17, 2010 | Economics One

Not a Repeat of the Great Intervention

This week marked the first exchange market intervention by the Bank of Japan since March 16, 2004, a day I remember well...
September 12, 2010 | Economics One

Lehman Weekend

Many people are still trying to figure out why the bailout of Lehman was aborted or what would have happened if there were a special bankruptcy chapter for such financial institutions...
September 11, 2010 | Economics One

Flying Back to Treasury on 9/11

I was in a hotel room in Tokyo when the first plane hit the World Trade Center. Recently sworn in as Under Secretary at Treasury, I was part of a delegation to Japan...
September 9, 2010 | Economics One

Post-Crisis Changes in Principles of Economics Texts

Many have written about how the introductory economics textbook should change as a result of the crisis...
September 8, 2010 | Economics One

More on Massive Quantitative Easing

In tomorrow’s Wall Street Journal...I briefly explained the rationale for this point of view in a post on this blog several days ago, where I referred to Milton Friedman’s advocacy of stable monetary policy rules...
September 6, 2010 | Economics One

Beyond GDP Measures Don’t Make the US Look Better

My colleagues Chad Jones and Pete Klenow and have computed a new measure of economic welfare which combines consumption, leisure, mortality, and even inequality...
September 3, 2010 | Economics One

A Milton Friedman Revival

It was bad news that policy makers in Washington did not heed [Friedman's] words in the past few years as they embarked on massive fiscal stimulus packages. But it’s good news that many more are heeding those words now...
September 1, 2010 | Economics One

The Taylor Rule Does Not Say Minus Six Percent

The Taylor rule says that the federal funds rate should equal 1.5 times the inflation rate plus .5 times the GDP gap plus 1. Currently the inflation rate is about 1.5 percent and the GDP gap is about -5 percent. So a little algebra gives a funds rate of 1.5X1.5 + .5X(-5) + 1 = .75 percent...
August 29, 2010 | Economics One

New Ideas about Monetary Policy from Jackson Hole

The main thing I took away from Ben Bernanke’s opener [at the annual monetary conference in Jackson Hole, Wyoming] was his call for a “cost-benefit” approach to determine whether another dose of unorthodox large scale asset purchases is needed...
August 23, 2010 | Economics One

The Russian Export Ban: An Economic Story Worth Telling

[T]his summer’s grain export ban in Russia [is] a current event well worth telling students about...
August 19, 2010 | Economics One

Washington Consensus Versus Beijing Consensus on Economic Policy

Does China’s remarkable economic growth, its stability during the recent financial crisis, and its immense foreign aid/investment in Africa raise doubts about free market policies and provide evidence in favor of a more interventionist approach...?
August 12, 2010 | Economics One

Where Are We Now, Three Years After the Onset of the Crsis?

This week marks the third anniversary of the flare up of the financial crisis in August 2007...We are now going into the fourth year of “crisis-recession-fizzled recovery” and for several reasons the outlook is bleak unless policy is changed as I had the chance to explain...
August 8, 2010 | Economics One

The Ryan Roadmap versus the Road to Ruin

Congressman Paul Ryan’s Roadmap has suddenly become the focal point for debating how America should get its economic house in order. Fred Barnes of the Weekly Standard says to embrace it. Paul Krugman of the New York Times says to reject it...
July 29, 2010 | Economics One (blog)

More on the Blinder-Zandi Working Paper on the Crisis

Yesterday the New York Times published an article about simulations of the effects of fiscal stimulus packages and financial interventions using an old Keynesian model...
July 18, 2010 | Economics One

New Data Show the Debt Problem Is Spending (not Taxes) and Obamacare Worsens the Problem

Everyone now seems to agree that the exploding federal debt is a serious problem that must be addressed. But how..?
July 4, 2010 | Economics One

A Chart for the Fourth of July

Just before Americans started celebrating the July 4th weekend, the Congressional Budget Office (CBO) released its annual Long Term Budget Outlook...
July 1, 2010 | Economics One

Financial Reform with False Remedies and Errors of Omission

A common criticism of the Dodd-Frank bill keeps coming up as more people wade through the several hundred sections, or at least summaries of them. This common criticism is that the bill contains many false remedies and errors of omission...
June 24, 2010 | Economics One (blog)

Why Was Poland the Only EU Country to Avoid Recession?

Poland is the only country in the European Union which did not have a recession during 2009...
June 17, 2010 | Economics One

Macroeconomic Lessons from The Great Deviation

Each year for the past 25 years the National Bureau of Economic Research has sponsored a conference on macroeconomics with a special emphasis on empirical research with policy relevance...
June 7, 2010 | Economics One

Is the G20 Starting to Get Back on Track?

This past weekend’s meeting of the G20 finance ministers and central bank governors in Korea ended with a rejection of calls for more fiscal stimulus. This is a marked change from their meeting held just over a month ago in Washington...

May 27, 2010 | Economics One

The Fed’s Swap Loans and Libor – OIS Spread

From about two years—from August 2007 to September 2009—fluctuations in the spread between dollar Libor and the overnight index swap (OIS) served as a valuable quantitative indicator of financial stress in the interbank loan market...

May 21, 2010 | Economics One

The Administration and the IMF on the Multiplier

In a soon to be published paper, several economists at the International Monetary Fund report estimates of government spending multipliers which are much smaller than those previously reported by the U.S. Administration...

May 16, 2010 | Economics One

The Euro's Post-Package Slide

The euro's continued decline throughout last week (see chart) shows that this set-back was not only a harbinger, but also the first in sequence of negative market reactions...

May 9, 2010 | Economics One

More on Chapter 11F

My column published last Monday May 3 in the Wall Street Journal “How to Avoid a ‘Bailout Bill’” generated a lot of questions about the idea of a "Chapter 11F," which I argued is a needed alternative to bailouts...

May 1, 2010 | Economics One

Latest Data Continue To Show Little Impact of Government Stimulus on GDP

The 3.2 percent growth rate of real GDP in the first quarter (released by BEA yesterday) confirms that the recovery is looking more U-shaped than V-shaped. But it also provides further evidence that the stimulus package of 2009 has had a small contribution to the recovery...

March 24, 2010 | Economics One (blog)

Iraq's Debt Three Years Later

Three years ago, a study of low and declining prices on Iraq's debt by Michael Greenstone of MIT helped paint a bleak picture of the effectiveness of the surge, as, for example, in this November 2007 New York Times op-ed by Austan Goolsbee "In the Bond Market, a Bleak Prognosis for Iraq.". . .

March 19, 2010 | Economics One (blog)

Quantitative Easing at the Fed and the Bank of Japan

Next Thursday March 25 the House Financial Services Committee will hold a hearing on how the Fed should exit from its quantitative easing. . . .

March 15, 2010 | Economics One (blog)

Was the “Considerable Period” or the “Measured Pace” More At Fault?

In his recent review in The New York Review of Books of my book Getting Off Track, Roger Alcaly makes a very interesting point about the “too low for too long” hypothesis, according to which the Fed helped cause the housing boom. . . .

March 10, 2010 | Economics One (blog)

Milton Friedman Had It Right All Along

The following is a reasonable summary, in my view, of the available evidence on the impacts of discretionary fiscal and monetary policy actions taken before, during, and after the recent financial crisis: . . .

March 2, 2010 | Economics One (blog)

Why Did Macro Policy in Emerging Market Countries Improve?

The resilience of emerging market economies severely hit by the panic of 2008 is amazing, especially in comparison with the long emerging market crisis period of a decade ago. . . .

February 27, 2010 | Economics One (blog)

Good Policy Pays Off In Emerging Markets

“Lessons from the Financial Crisis for Monetary Policy in Emerging Markets” was the title for the 2010 L.K. Jha Lecture, which I gave this week at the Reserve Bank of India in Mumbai. . . .

February 21, 2010 | Economics One (blog)

Macro Model Disagreements and Reality

Last Friday Macroeconomic Advisers (MA), a forecasting firm, posted a blog entry responding to empirical work by me and others on the “stimulus act” of 2009. . . .

February 16, 2010 | Economics One (blog)

Stimulus Anniversary Blogs

With the one year anniversary of the signing of the stimulus it is useful to review the facts and data as they came in during the year. . . .

February 11, 2010 | Economics One (blog)

More Economists To Meet with Financial Crisis Inquiry Commission

The Financial Crisis Inquiry Commission (FCIC) will meet with more economists on February 26-27 to delve into causes of the crisis, considering in particular: monetary policy, derivatives, shadow banking, GSEs, and bailouts of "too big too fail" institutions. . . .

February 11, 2010 | Economics One (blog)

New Book on How to End Government Bailouts

America is sick of bailouts. . . .

February 10, 2010 | Economics One (blog)

An Exit Rule as an Exit Strategy for Monetary Policy

Today’s hearing at the House Committee on Financial Services on “Unwinding Emergency Federal Reserve Liquidity Programs and Implications for Economic Recovery” was cancelled because of snow. . . .

February 4, 2010 | Economics One (blog)

The Macroeconomics of Education

Woessmann shows that bringing US education levels up to the level of Finland would raise real GDP by over $100 trillion measured in present discounted value terms over the next 80 years. . . .

February 2, 2010 | Economics One (blog)

One Year Later and More Evidence that the Stimulus is Not Working

Friday’s data release from the Bureau of Economic Analysis (BEA) shows that real GDP growth rebounded to 5.7 percent in the fourth quarter from 2.2 percent in the third quarter of last year. . . .

January 27, 2010 | Economics One (blog)

Music Videos on Boom and Bust

John Papola and Russ Roberts just put their Hayek versus Keynes rap video on youtube. . . .

January 25, 2010 | Economics One (blog)

Opinions versus Facts About the Chicago School

New Yorker writer John Cassidy argues in a recent article that free market-oriented Chicago school thinking was largely responsible for the financial crisis . . . .

January 19, 2010 | Economics One (blog)

The GAO Audit of the Fed's AIG Bailout: Toward Increased Transparency?

Today's letter from Ben Bernanke to the GAO stating that the Fed would "welcome a full review by GAO of all aspects of our invlovment in the extension of credit to AIG" is a step in the right direction. . . .

January 12, 2010 | Economics One (blog)

More on "Too Low For Too Long"

Much continues to be written this week about whether interest rates were too low for too long in the period 2003-2005. . . .

January 9, 2010 | Economics One (blog)

Ben Bernanke's AEA Speech

On New Years Day I wrote a piece on the surprising increase in the number of references to the Taylor rule in 2009. Little did I know that two days later Federal Reserve Board Chairman Ben Bernanke would start off 2010 with a speech with 50 more references at the American Economic Association (AEA) meeting in Atlanta. . . .

January 9, 2010 | Economics One (blog)

Learning from the Great Inflation

Many are worried that the exploding Federal debt and the expanded Federal Reserve Balance sheet will lead to a large increase in inflation. . . .

December 26, 2009 | Economics One (blog)

Implications of the Crisis for Introductory Economics

People ask how I think introductory economics teaching should change as a result of the financial crisis. . . .

January 1, 2009 | Economics One (blog)

From Woodford to DeLong On Monetary Policy Rules

Surprisingly, the Taylor rule was referred to more frequently than ever in 2009. . . .

December 20, 2009 | Economics One (blog)

Estimating the Impact of the Fed's Mortgage Portfolio

Some of the big questions looming about the Fed’s exit strategy are if, when, and at what pace the Fed should draw down its huge portfolio of mortgage backed securities (MBS). . . .

December 22, 2009 | Economics One (blog)

Financial Crisis Inquiry Commission Gets Started

Today the Financial Crisis Inquiry Commission announced its first public hearing, which will start at 9 am on January 13 and continue through January 14. The topic: Causes and Current State of the Financial Crisis. . . .

December 12, 2009 | Economics One (blog)

A Perfect Storm or It's Not My Fault?

This past week we held a conference on Ending Government Bailouts As We Know Them. . . .

December 13, 2009 | Economics One (blog)

David Wessel’s Doubts About “Whatever It Takes”

Big Think is conducting a series of video interviews with economists, market participants, journalists, policymakers and others on the financial crisis to try to answer the pressing question of “what went wrong.” . . .

December 6, 2009 | Economics One (blog)

Monetary Policy and the Wisdom of Wayne Gretzky

For years I compared it to flying a fighter jet where you have to anticipate the actions of the other pilots, and if you get it wrong you crash and burn in a great depression or a great inflation. . . .

November 25, 2009 | Economics One (blog)

Be Thankful But Study What Happened

With the consumption data released today--the day before Thanksgiving--we are reminded to give thanks that retail sales are at least growing not declining sharply as they were a year ago. . . .

November 24, 2009 | Economics One (blog)

Economic Freedom and Rose Friedman

We are hearing a lot these days about the disadvantages of free markets and the need for a greatly expanded role of government in the economy. . . .

November 22, 2009 | Economics One (blog)

New Evidence of Government Induced Risk

A good way to assess this impact on risks is to look at the spread between interest rates on subordinated debt and senior debt at Fannie or Freddie. . . .

November 20, 2009 | Economics One (blog)

This week was monetary policy week in Economics 1 at Stanford.

This week was monetary policy week in Economics 1 at Stanford. . . .

November 13, 2009 | Economics One (blog)

The Road Ahead for the Fed

Stories this week in the Wall Street Journal, the New York Times and the Washington Post focus on how Senator Chris Dodd's new financial reform bill threatens the independence of the Federal Reserve. . . .

November 6, 2009 | Economics One (blog)

Jobs Saved: PR or Fact?

While the unemployment rate continues to rise--to 10.2 percent in October--the debate over the "jobs saved" concept also continues, most recently on last Sunday's Meet the Press with host David Gregory asking Treasury Secretary Timothy Geithner whether the concept is PR or Fact. . . .

November 3, 2009 | Economics One (blog)

Government Failure versus Market Failure

My Forbes magazine column this week reviews the latest empirical evidence on why government actions and interventions--government failure rather than market failure--should be at the top of the list of what went wrong in the recent financial crisis...

October 30, 2009 | Economics One (blog)

National Accounts Show Stimulus Did Not Fuel GDP Growth

Along with the news that real GDP growth improved from -0.7 percent in the second quarter to 3.5 percent in the fourth quarter, the Bureau of Economic Analysis (BEA) released detailed National Income and Product Account tables yesterday, which received little comment in the press today...

November 1, 2009 | Economics One (blog)

Greg Mankiw and Homework on Marginal Tax Rates

In an op-ed in today's New York Times Harvard's Greg Mankiw gives a good example of how government transfer programs increase marginal tax rates...

October 27, 2009 | Economics One (blog)

Ending Government Bailouts As We Know Them

Fears of potential damage from the failure of a large financial institution has created a bailout mentality in which the U.S. government has committed many billions of dollars, intervened in the operations of scores of private firms, and caused excessive risk-taking...

October 24, 2009 | Economics One (blog)

And the Answer Is…Productivity

I teach Economics 1 with an “audience response system” similar to the ones you see on TV game shows...

October 16, 2009 | Economics One (blog)

Speaking of Monetary Policy Rules

This was another week with a lot of commentary on the Taylor Rule, and I am grateful to Jon Hilsenrath of the Wall Street Journal for suggesting an interview with me on the subject and posting it on Wednesday...

October 15, 2009 | Economics One (blog)

Golden Balls and Duopoly: Shocking or Predictable?

Want to see an amazing illustration of how the game theory model of duopoly works?...

October 12, 2009 | Economics One (blog)

A Teachable Moment

The awarding of the Nobel Prize in economics is always a teachable moment...

October 11, 2009 | Economics One (blog)

To Prevent Bubbles, Don’t Create Them

In their widely-cited Wall Street Journal column last week, Ian Bremmer and Nuriel Roubini argue that to prevent asset price bubbles in the future the Fed should focus on “properly calculating asset prices and the risk of asset bubbles according to the Taylor rule...

October 9, 2009 | Economics One (blog)

Taking Stock at the Fed

Yesterday and today, three economists (Andrew Levin, Chris Erceg and Mike Kiley) who work on the staff of the Federal Reserve Board graciously hosted a big gathering of monetary economists from around the world...

October 6, 2009 | Economics One (blog)

The Price System in Action

Want to understand what really goes on behind the scenes of the supply and demand model?...

October 2, 2009 | Economics One (blog)

A Beautiful Model, A Clear Prediction

The supply and demand model, which students learn in the first week of Economics One, is a beautiful, powerful tool for investigating real world issues like the minimun wage, the subject of tomorrow's Wall Street Journal editorial...

September 28, 2009 | Economics One (blog)

The Best Economics 1 Lecturer Ever

I decided to invite a young guest lecturer to my Economics 1 class to help students think about the alarming federal debt charts and the exploding debt burden on future generations...

September 26, 2009 | Economics One (blog)

The Real Anniversary

Two weekends ago the big news was the one-year anniversary of the Lehman Brothers bankruptcy and the ensuing panic...

September 21, 2009 | Economics One (blog)

The Crisis: A Failure or a Vindication of Economics?

Today was the first lecture of thirty-five or so lectures I will give this fall in Stanford’s Economics 1, the namesake of this Blog...

September 20, 2009 | Economics One (blog)

Is the Stimulus Working?

My recent Wall Street Journal column with John Cogan and Volker Wieland looked at the data available so far and concluded that there has been no noticeable impact...

Interviews

March 22, 2014 | CNBC

John Taylor on The Santelli Exchange

Discussing the fed funds rate and the influence of Fed policy on the financial system, with John Taylor, Stanford University professor of economics.
March 22, 2014 | Larry Kudlow Show

John Taylor on The Larry Kudlow Show (86:34)

January 14, 2014 | John Batchelor Show

John Taylor on the John Batchelor Show ( 19:27)

Guests:  Larry Kudlow, The Kudlow Report, CNBC; and Cumulus Media radio. Philip Izzo, WSJ. John B. Taylor, Hoover & Wall Street Journal. James Taranto, Wall Street Journal.
December 18, 2013 | PBS NewsHour

John Taylor on PBS NewsHour (2:54)

December 18, 2013 | Squawk on the Street (CNBC)

John Taylor on CNBC's "Squawk on the Street" (00:45)

CNBC's Rick Santelli discusses the U.S. Treasury's move to auction $35 billion in 5-year Notes. And John Taylor, Stanford University professor of economics, weighs in on Fed policy and the likely outcome of exiting quantitative easing.
December 11, 2013 | Kudlow Report (CNBC)

John Taylor on The Kudlow Report Part I

Former Federal Reserve chairman Alan Greenspan, and John Taylor, former U.S Treasury Undersecretary, debate what is to blame for the housing bubble. Taylor says monetary impulse is a big factor.
December 10, 2013 | Kudlow Report (CNBC)

John Taylor on The Kudlow Report Part II

Former Federal Reserve chairman Alan Greenspan, and John Taylor, former U.S Treasury Undersecretary, debate short and long-term rates under Greenspan's Fed. There was a high correlation between short and long-term rates before 2003, defends Greenspan.
November 5, 2013 | John Batchelor Show

John B. Taylor on the John Batchelor Show (:48)

Guests: Larry Kudlow, Kudlow Report, CNBC; & Cumulus Media radio. John B. Taylor, Hoover. Randy Barnett, Georgetown Law. David Davenport, Hoover.  
November 4, 2013 | Bloomberg Television

John Taylor on Market Makers

John Taylor, an economics professor at Stanford University and a senior fellow at the Hoover Institution, talks about impact of Federal Reserve policy on Washington politics and the economy. He speaks with Stephanie Ruhle and Erik Schatzker on Bloomberg Television's "Market Makers." (Source: Bloomberg)
November 4, 2013 | FOX Business

John Taylor on Markets Now

Stanford University economics professor John Taylor shares his thoughts on Janet Yellen as the next Fed chairman.
October 3, 2013 | Update-1 (National Press Club)

What Will It Take to Get the Economy Moving?

September 17, 2013 | Kudlow Report (CNBC)

John Taylor on the Kudlow Report (5:33)

With Larry Summers out of the Fed chairman race, Ben Bernkanke's successor is unknown. Jim Pethokoukis, American Enterprise Institute, and John Tamny, Forbes, discuss the President's possible pick. And John Taylor, Stanford University economics professor, discuss rules to govern the U.S monetary policy.
September 16, 2013 | FOX Business

John Taylor on Money with Melissa Francis

Former Treasury Department Official John Taylor on Janet Yellen’s views.
August 27, 2013 | Closing Bell (CNBC)

John Taylor on Closing Bell (3:08)

CNBC's John Harwood reports Treasury Secretary Jack Lew said that President Obama will not be negotiating over the debt limit. Should investors be worried about another debt showdown in September? Maya MacGuineas, head of the campaign Fix the Debt, and John Taylor, former Treasury Undersecretary, weigh in.
August 22, 2013 | Fox Business

John Taylor on Money with Melissa Francis

Stanford University Professor John Taylor on his five steps for boosting the economy.
July 31, 2013 | Bloomberg Television

John Taylor on Bloomberg Television

Stanford University Professor John Taylor discusses the FOMC rate decision with Mark Crumpton on Bloomberg Television's "Bottom Line." (Source: Bloomberg)
July 22, 2013 | C-Span2 Book TV

John Taylor on BookTV

June 14, 2013 | Kudlow Report (CNBC)

John Taylor on CNBC's Kudlow Report

April 22, 2013 | Street Smart (Bloomberg Television)

John Taylor on Street Smart

April 12, 2013 | CNBC

John Taylor on Squawk Masters

March 3, 2013 | CNBC

John Taylor on Street Signs

February 7, 2013 | CNBC - Squawk Box

John Taylor on CNBC Squawk Box

February 7, 2013 | Fox Business

John Taylor on Fox Business

February 7, 2013 | Opinion Journal (Wall Street Journal)

John Taylor on Opinion Journal (Wall Street Journal)

February 7, 2013 | Bloomberg Television

John Taylor on Bloomberg TV

November 2, 2012 | News Hour

John Taylor on PBS NewsHour

October 26, 2012 | Markets Now (Fox Business)

John Taylor on Fox Business

October 4, 2012 | In the Loop (Bloomberg Television)

John Taylor On Bloomberg Television’s In The Loop

September 25, 2012 | John Batchelor Show

John B. Taylor on the John Batchelor Show (19:20)

September 21, 2012 | CNBC - Squawk Box

John Taylor on CNBC’s Squawk Box

September 17, 2012 | CNBC

John Taylor on The Larry Kudlow Show

August 30, 2012 | Fox Business

John Taylor on Fox Business (at 2:20)

August 31, 2012 | On Point (NPR)

John Taylor on NPR's On Point (at 6:00)

August 28, 2012 | Street Smart (Bloomberg Television)

John Taylor On Bloomberg Television’s Street Smart

July 31, 2012 | Markets Now (Fox Business)

What Can the Fed Do to Prop Up the Economy?

June 26, 2012 | John Batchelor Show

John Taylor on the John Batchelor Show

June 26, 2012 | Squawk on the Street (CNBC)

How to Save America's Economic Future

June 18, 2012 | Money, Riches & Wealth (WCBM)

John Taylor on Money, Riches & Wealth

This week, Drew is joined on the air by Dr. John B. Taylor, author of First Principles: Five Keys to Restoring America’s Prosperity...
June 8, 2012 | John Batchelor Show

John Taylor on the John Batchelor Show

John Taylor, Hoover, in re: Hayek and the rule of rules needed to restore confidence and certainty in a troubled economy...
June 5, 2012 | Marketplace (American Public Media)

Fixing the weak U.S. economy requires more long-term policy

Unemployment has ticked up again. Manufacturing is slowing again. And Europe, well, again...Today, Stanford economist John Taylor, formerly with the Bush administration...
June 1, 2012 | InsideTrack (Bloomberg Television)

Monetary, Fiscal Policies Stall Growth, Taylor Says

John Taylor, a professor at Stanford University and former deputy Treasury Secretary, talks about the outlook for the U.S. economy and Federal Reserve policy...
May 15, 2012 | John Batchelor Show

John Taylor on the John Batchelor Show

Guests: Co-Host Larry Kudlow, CNBC; David Kotok, author; McKay Coppins, Buzzfeed; John Taylor, Hoover...
May 12, 2012 | Larry Kudlow Show

John Taylor on the Larry Kudlow Show

Larry replays his interview with Obamanomics Founder, Larry Summers, and has John Taylor senior fellow at Hoover Institutes reacts to Summers Interview...
April 30, 2012 | EconLog

Taylor on Rules, Discretion, and First Principles

John Taylor of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about his new book, First Principles: Five Keys to Restoring America's Prosperity...
April 28, 2012 | John Batchelor Show

Hoover Institution Debate on the John Batchelor Show - Part I

Guests: Co-Host Mary Kissel, WSJ; Hoover Institution debate, Keynes and Hayek, with attention to Milton Friedman's conversation on Keynes and Hayek. Nicholas Wapshott, John Taylor, Michael Boskin, Russ Roberts...
April 28, 2012 | John Batchelor Show

Hoover Institution Debate on the John Batchelor Show - Part II

Guests: Co-Host Mary Kissel, WSJ; Hoover Institution debate, Keynes and Hayek, with attention to Milton Friedman's conversation on Keynes and Hayek. Nicholas Wapshott, John Taylor, Michael Boskin, Russ Roberts...
April 21, 2012 | Barron's Online

Fiscal Follies, Monetary Mischief

Stanford Prof. John Taylor believes that government economic policies should be constrained and predictable rather than ad hoc and discretionary. In particular, he is extremely leery of stimulus spending, and the looming possibility of QE3...
April 3, 2012 | John Batchelor Show

John Taylor on the John Batchelor Show

Guests: Co-Host Larry Kudlow, CNBC; Josh Kraushaar, National Journal; John Taylor, author...
March 8, 2012 | Kudlow Report (CNBC)

Stocks Swing Higher

Discussing whether the market is on the verge of a 5-10% pullback, and the Fed's new bond-buying program, with Jeffrey Kleintop, LPL Financial chief market strategist, and John Taylor, Hoover Institution senior fellow...
March 3, 2012 | Larry Kudlow Show

John Taylor on the Larry Kudlow Show

Also on the show is John Taylor, author of "First Principles: Five Keys to Restoring Prosperity"...
March 1, 2012 | Squawk Box (CNBC)

Bernanke's Testimony & the Economy

Weighing in on the Fed's plan to keep rates low, with John Taylor, former Undersecretary for International Affairs/Stanford University professor, who adds some members of the Federal Reserve believe they should raise rates as the economy is starting to pick up...
February 23, 2012 | Wall Street Journal TV

John Taylor's Spending Rules to Live By

John Taylor on the U.S.'s spending binge and how America has lost its economic principles...
February 21, 2012 | Street Smart (Bloomberg Television)

Stanford's Taylor on U.S. Budget Deficit

John Taylor, an economics professor at Stanford University, talks about the U.S. federal budget deficit...
February 16, 2012 | Forum with Michael Krasny (KQED)

John Taylor: Five Keys to Restoring America's Prosperity

Unemployment rates fell in January and GDP levels rose last quarter. Both these figures may indicate that America's recovery from the Great Recession is picking up pace. But Stanford economist John Taylor says America's position is still weaker than past eras of economic growth...
February 14, 2012 | Fast Money (CNBC)

Will Greece Get Bailout Package?

John Taylor, former Treasury Undersecretary, discusses the Greek austerity package, ahead of Wednesday's Eurogroup meeting...
February 6, 2012 | Street Smart (Bloomberg Television)

Stanford's Taylor on U.S. Deficit, Fed, Greece

John Taylor, a professor of economics at Stanford University, talks about the U.S. federal budget deficit and fiscal policy. Taylor also discusses Federal Reserve monetary policy and Greece's debt crisis...
January 31, 2012 | Market Wrap With Moe Ansari

Restoring America's Prosperity

Dr. John Taylor, Professor of Economics at Stanford University...
January 25, 2012 | Payne Nation with Charles Payne

John Taylor on Payne Nation

President Obama's State of the Union Address [Interview begins around 09:15]...
January 25, 2012 | Tom O'Brien Show

John Taylor on the Tom O'Brien Show

[Interview begins around 1:21:00]...
January 20, 2012 | Surveillance Midday (Bloomberg Television)

Stanford's Taylor on Fed Policy, U.S. Economy

John Taylor, a professor of economics at Stanford University and a former Treasury undersecretary, talks about Federal Reserve monetary policy. Taylor also discusses U.S. fiscal policy and the economy, and Greece's debt crisis...
January 20, 2012 | Willis Report (Fox Business)

The 5 Steps to Fixing the Economy

“First Principles” author John Taylor on what is needed to turn the U.S. economy around...
January 20, 2012 | Squawk Box (CNBC)

Principles to Restore the Economy

We have lost track of limiting the role of government, with the intervening, stimulus packages and quantitative easing, says John Taylor...
January 17, 2012 | John Batchelor Show

John Taylor on the John Batchelor Show

Guests: Co-Host Lara Brown, Villanova; Eliza Newlin Carney, Roll Call; Steve Moore, WSJ; John Taylor, author; Salena Zito, PTR...
November 10, 2011 | John Batchelor Show

John B. Taylor on John Batchelor

GUESTS: Co-Host Mary Kissel, WSJ; Taegan Goddard, Political Wire; Andrew Shearer, Lowyi Institute; John Taylor, Hoover...
November 10, 2011 | Market Wrap With Moe Ansari

John B. Taylor on Market Wrap with Moe Ansari

Progress in Italy, Greece on debt sends stocks up..
November 5, 2011 | Larry Kudlow Show

John Taylor on the Larry Kudlow Show

Today on the Larry Kudlow Show, Larry blames the Fed for a cheap dollar...John Taylor, Senior Fellow at Hoover Institution joins the show... [Interview begins around 78:30]
November 1, 2011 | Kudlow Report (CNBC)

Is U.S. Leadership off Track?

Discussing how to grow the American economy, with John Taylor, Hoover Institution senior fellow...
October 11, 2011 | John Batchelor Show

John Taylor on the John Batchelor Show

GUESTS: Co-host Larry Kudlow, CNBC and 77 WABC; Steve Moore, WSJ; Joseph Brusuelas, Bloomberg; John Taylor, Hoover; Greg Zuckerman, WSJ...
September 11, 2011 | Bloomberg Radio

John Taylor on Bloomberg Radio

August 18, 2011 | John Batchelor Show

John Taylor on the John Batchelor Show

GUESTS: Co-host Mary Kissel, AWSJ; Ross Ramsey, Texas Tribune; John Taylor, Hoover; Arif Rafiq, ForeignPolicy.com...
August 14, 2011 | Weekend Edition (NPR)

Boosting Job Growth: It's A Money Matter

The Federal Reserve doesn't seem very confident about the future...
August 10, 2011 | CNBC

Debt Deal Positive for Economy?

John Taylor, Stanford University, and John Silvia, Wells Fargo, discuss why the debt deal in Washington is positive for the economy, and whether we're headed for a double dip recession...
August 3, 2011 | Reuters

Much accomplished in US debt deal: Economist Taylor

Stanford University Economist John Taylor explains why he thinks a lot was accomplished in the debt negotiations and why he thinks the deal will be successful in getting the U.S. economy moving again...
August 3, 2011 | Squawk Box (CNBC)

Post-Debt Deal Economics

The money did not stimulate consumption or investment, so you can't argue that things would have been worse without the debt bill, says John Taylor, former Undersecretary for International Affairs/Stanford University...
August 2, 2011 | PBS NewsHour

Raise the Roof: Debt Crisis Averted, But Debate Far From Over

Jeffrey Brown discusses the compromise bill with University of California, Berkeley's Robert Reich and Stanford University's John Taylor...
July 26, 2011 | John Batchelor Show

Michael McConnell and John Taylor on the John Batchelor Show

GUESTS: Co-host Larry Kudlow, CNBC and 77 WABC; Michael McConnell, Hoover; John Fund, WSJ; John Taylor, Hoover...
July 18, 2011 | EconTalk

Taylor on Fiscal and Monetary Policy

John Taylor of Stanford University talks with EconTalk host Russ Roberts about the state of the economy and the prospects for recovery...
June 30, 2011 | Kudlow Report (CNBC)

Is QE3 Set to Sail?

Discussing whether QE3 is on the horizon now that QE2 is officially over, with John Taylor, Hoover Institute, and Dean Baker, Center for Economic & Policy Research...
June 27, 2011 | Surveillance Midday (Bloomberg Television)

John Taylor on Fed, U.S. Fiscal Policy, Economy

John Taylor, an economics professor at Stanford University, talks about Federal Reserve monetary policy, the Taylor Rule and prospects for U.S. economic recovery...
June 24, 2011 | Big Interview (WSJ.com)

Taylor: We Are In a Balance Sheet Recession

Top economist John Taylor says his "biggest worry" is that the U.S. economy will be anemic for years and unemployment remain high...
June 14, 2011 | John Batchelor Show

John Taylor on the John Batchelor Show

GUESTS: Co-host Larry Kudlow, CNBC and 77 WABC; John Taylor, Stanford; Stephen Moore, WSJ...
June 9, 2011 | Fox Business

GOP Playing Debt Limit Chicken

Stanford University Economics Professor John Taylor explains why GOP playing chicken with debt limit is good for the economy...
June 2, 2011 | Today (BBC Radio)

US 'not in stalemate' over debt limit

Talks between President Obama and leading Republicans from the House of Representatives over the America's growing debt appear to remain deadlocked, despite private talks between the two sides last night...
April 27, 2011 | Fox Business

Bernanke Needs to Outline Strategy

Stanford Professor of Economics John Taylor argues the economy needs a traditional type of policy to recover...
April 19, 2011 | InBusiness (Bloomberg Television)

Taylor Says U.S. Can Balance Budget Without Higher Taxes

John Taylor, a professor of economics at Stanford University and a former Treasury undersecretary, talks about U.S. tax policy and the economy...
April 4, 2011 | Street Smart (Bloomberg Television)

Taylor Says Less Government Spending Can Boost Growth

John Taylor talks about plans by House Republicans to release a 2012 federal budget proposal tomorrow that may call for more than $4 trillion in spending cuts over the next 10 years...
March 1, 2011 | In the Loop (Bloomberg Television)

Bernanke Testifies to Congress Today

John Taylor, a professor of economics at Stanford University and a former Treasury undersecretary, previews Federal Reserve Chairman Ben S. Bernanke's semiannual testimony before the Senate Banking Committee today in Washington...
March 1, 2011 | Willis Report (Fox Business)

Could Government Spending Cuts Actually Hurt Economy?

Government spending cuts impact on the economy...
February 24, 2011 | Squawk Box (CNBC)

Economy on the Home Front

John Taylor, former Treasury undersecretary, discusses his predictions for the economy...
December 2, 2010 | John Batchelor Show

John Taylor on the John Batchelor Show

GUESTS: Jordan Fabian, The Hill; Debroah Gardner-Paterson, film director; John Burns, NYT; John Taylor, Hoover Institution...
November 10, 2010 | Bloomberg Television

Taylor Says Fed's QE2 Policy Will Not Help Unemployment

John Taylor , a professor of economics at Stanford University and a former Treasury undersecretary, discusses the Federal Reserve's second round of quantitative easing and the outlook for the U.S. economy...
November 10, 2010 | Squawk Box (CNBC)

Jobs & Jitters

Insight on the labor markets, with John Taylor, Hoover Institution...
November 3, 2010 | Kudlow Report (CNBC)

Fed Matters

Insight on the Fed's decision to pump more liquidity into the economy, with Dan Greenhaus, Miller Tabak; John Taylor, Stanford University; and CNBC's Rick Santelli & Larry Kudlow...
October 15, 2010 | Power Lunch (CNBC)

Bernanke: Ready to Act

One of the world's leasing monetary policy experts suggests the Fed shouldn't go any further than its has in stimulating the economy. Insight with John Taylor, former Undersecretary for International Affairs and CNBC's Steve Liesman...
October 15, 2010 | PBS NewsHour

Fed's Next Move: What Will Boost the Economy?

Fed chairman Ben Bernanke signaled Friday that his agency is prepared to make new moves to boost the economy. But what would help the most? Jeffrey Brown asks economists...
October 11, 2010 | C-SPAN

Role of Central Banks

Charles Goodhart of the London School of Economics and Stanford University Professor John Taylor gave summaries of their respective papers on of the role of central banks....The panelists also answered questions from members of the audience...
October 8, 2010 | CNBC - Squawk Box

Debating QE2

Discussing how QE2's impact for the economy and whether it is a proper stimulus or not, with Laurence Meyer, Macroeconomic Advisers; John Taylor, former Treasury economic policy advisor; James Bullard, St. Louis Federal Reserve Bank CEO/president and CNBC's Steve Liesman...
August 27, 2010 | Bloomberg

Stanford's Taylor Interview

John Taylor, a professor of economics at Stanford University, discusses Federal Reserve monetary policy and the prospects for a double-dip recession in the U.S. Taylor speaks from the Fed's annual symposium in Jackson Hole, Wyoming, with Betty Liu on Bloomberg Television’s “In the Loop...”
August 12, 2010 | Business News Network

The Taylor Rule

BNN speaks to John Taylor, professor of economics, Stanford University, and senior fellow in economics at the Hoover Institution. He's the creator of the "Taylor Rule," a well-known economic model for monetary policy...
August 3, 2010 | CNBC

Stimulus Really Hurting Jobs?

Debating whether stimulus spending is hurting job growth, with CNBC's Eamon Javers; John Taylor, former Treasury undersecretary and Greg Valliere, Potomac Research Group...
July 29, 2010 | NewsHour with Jim Lehrer

Did Stimulus Funding Help or Hurt U.S. Economy in the Long Run?

A new study by economists Mark Zandi and Alan Blinder showed the U.S. government's nearly $800 billion economic stimulus and the Wall Street bailout likely steered the American economy away from another depression. Jeffrey Brown moderates a debate between Zandi and Stanford University economist John Taylor...
July 19, 2010 | EconTalk

Taylor on the State of the Economy

John Taylor of Stanford University talks with EconTalk host Russ Roberts about the state of the economy. Is the economy recovering? What policies have helped and hurt..?
June 3, 2010 | Bloomberg Television

Taylor Says G-20 Needs to Focus on Debt, Stimulus

Stanford University economist John Taylor talks with Bloomberg's Susan Li about the outlook for the global economy and central banks' monetary policies...

May 21, 2010 | Bloomberg

Paul Volcker, Dr. John Shoven, John Taylor: On the Economy

John B. Taylor discusses, with Tom Keene ways to end bailouts, Chapter 11F, and the European debt situation...

May 11, 2010 | Squawk Box (CNBC)

Prevention or Bailout?

Some people calling financial reform a bailout proposal, with John Taylor, Stanford University economics professor...

April 22, 2010 | Street Signs (CNBC)

Where Do We Go From Here?

What to do with the derivatives market, with Tim Ryan, SIFMA president & CEO and John Taylor, Stanford economics professor...

March 29, 2010 | Bloomberg

Taylor Discusses Fed Policy, Treasuries, U.S. Economy: Video

John Taylor, the Stanford University economist who created a rule for guiding monetary policy, talks with Bloomberg's Margaret Brennan about the outlook for Federal Reserve. . . .

March 16, 2010 | Motley Fool

One Economist's Solution for Financial Reform

It’s been a year and a half since the banking system came crashing down in the fall of 2008, forcing Merrill Lynch into the arms of Bank of America (NYSE: BAC), Wachovia to Wells Fargo (NYSE: WFC), and Washington Mutual to JPMorgan Chase (NYSE: JPM). . . .

March 15, 2010 | Motley Fool

The Recovery Is Gaining Momentum, but Government Is in the Way

It's been a long row to hoe since the economy entered the Great Recession. . . .

February 10, 2010 | CNBC

Bernanke Plots Exit Plan

A look ahead of the Fed head's prepared exit plan, with CNBC's Steve Liesman and John Taylor, Stanford University discusses his own testimony. . . .

February 5, 2010 | Uncommon Knowledge

Epstein & Taylor: Are We All Keynesians Now? : Chapter 5 of 5

How well are our leaders — including Federal Reserve chair Ben Bernanke — managing the aftermath of the financial crisis? . . .

February 4, 2010 | Uncommon Knowledge

Epstein & Taylor: Are We All Keynesians Now? : Chapter 4 of 5

How well did our leaders handle the financial crisis? . . .

February 3, 2010 | Uncommon Knowledge

Epstein & Taylor: Are We All Keynesians Now? : Chapter 3 of 5

Richard Epstein and John Taylor explain why it is misleading to blame the free market for the financial crisis. . . .

February 2, 2010 | Uncommon Knowledge

Epstein & Taylor: Are We All Keynesians Now? : Chapter 2 of 5

What went wrong with the U.S. economy in the 21st century? . . .

February 1, 2010 | Uncommon Knowledge

Epstein & Taylor: Are We All Keynesians Now? : Chapter 1 of 5

After introducing the opposing approaches to economics of John Maynard Keynes and Milton Friedman, economists Richard Epstein and John Taylor discuss U.S. monetary policy from the 1970s onward. . . .

January 27, 2010 | News Hour

Unmasking Interest Rates, Honky-Tonk Style

In the latest installment in his series of reports making sense of financial news, Paul Solman explains how interest rates are set, with a little help from economic country musician Merle Hazard. . . .

January 25, 2010 | CNBC

The Bernanke Trade

Discussing whether Ben Bernanke is good for the markets, with Donald Luskin, Trend Macro; Peter Navarro, University of California and John Taylor, Stanford University. . . .

January 19, 2010 | Big Think (NY)

Big Think Interview with John Taylor

A conversation with the Stanford University Economics Professor. . . .

January 20, 2010 | CNBC

AIG Bailout Under Scrutiny

Insight on why full transparency on the AIG bailout with John Taylor, Stanford University professor. . . .

January 12, 2010 | CNBC

In Defense of the Taylor Rule

Fighting back against Fed chief Ben Bernanke's policy, with John Taylor, Stanford University economics professor. . . .

January 7, 2010 | CNBC

John Taylor vs. Ben Bernanke

Joining me to discuss on last night's Kudlow Report was distinguished Stanford economics professor John Taylor, creator of the Taylor Rule. . . .

October 14, 2009 | Wall Street Journal

Q&A: John Taylor on His Rule and Fed’s Balance Sheet

John Taylor, Stanford University economist and Treasury Department official during the Bush administration, has been in the news of late for two reasons...

September 17, 2009 | CNBC

Did the Stimulus Work?

Discussing household net worth turned positive for the first time in two years, with John Taylor, Stanford University economics professor and CNBC's Steve Liesman...

September 10, 2009 | Wall Street Journal

Taylor's Ruling: Government Created Credit Crisis

James Freeman interviews Stanford professor John Taylor about how Washington created the credit meltdown...

September 3, 2009 | CNBC

Spotlight on Jobs

Insight on the jobs front, with John Taylor, Hoover Institution; and CNBC's Steve Liesman & Larry Kudlow...

August 24, 2009 | Fox Business

Red Ink Watch: How Bad Is the Deficit?

Hoover Institutions John Taylor on why the deficit poses a systemic risk...

Other Media

June 6, 2012 | Defining Ideas (Hoover Institution)

Jumpstart the Economy!

Return to first principles: limited government, markets, incentives, rule of law, and predictability...
September 13, 2011 | U.S. House Committee on Oversight and Government Reform

An Assessment of the President’s Proposal to Stimulate the Economy and Create Jobs

Testimony Before the Subcommittee on Regulatory Affairs, Stimulus Oversight and Government Spending...
September 13, 2011 | U.S. Senate Committee on Finance

The Need for a Comprehensive Economic Strategy

Testimony before the Subcommittee on Fiscal Responsibility and Economic Growth...
April 1, 2011 | National Affairs

The Cycle of Rules and Discretion in Economic Policy

[Facts and theories] argue against the recent reversion to Keynesian discretionary interventionism, and for a revival of the kinds of rules-based fiscal and monetary policies that have yielded unmatched stability and economic growth...
March 4, 2010 | Stanford Review

Preview: Faculty Senate takes on ROTC

Today at 3:15pm in the Law School, Professors William Perry and David Kennedy will present to the Faculty Senate on the status of Reserve Officer Training Corps (ROTC) program on campus. . . .

February 9, 2010 | Economics One (blog)

An Exit Rule for Monetary Policy

This paper was originally prepared for a hearing at the House Committee on Financial Services on “Unwinding Emergency Federal Reserve Liquidity Programs and Implications for Economic Recovery,” where I was invited to be a witness. . . .

January 27, 2010 | National Bureau of Economic Research

Falling Behind the Curve: A Positive Analysis of Stop-Start Monetary Policies and the Great Inflation

This paper documents the evolution of long-run inflation expectations and models the stance of monetary policy from 1965 to 1980. . . .

October 2, 2009 | Defining Ideas (Hoover Institution)

Defining Ideas

Hoover's working groups and task forces produce contemporary material on subjects ranging from global economic issues to national security and from energy policy to education...

September 24, 2009

Should the G-20 Reconsider the Decision to Treble IMF Resources

At their last meeting on April 2, 2009, in London, the leaders of the G-20 nations agreed "to treble the resources available to the International Monetary Fund (IMF) to $750 billion."...

September 4, 2009 | KQED

Evaluating the Stimulus Package

This week Vice President Joe Biden touted the economic stimulus package, saying that the $787 billion stimulus has created or saved 150,000 jobs in its first 200 days...

July 20, 2009 | EconTalk

John Taylor on the Financial Crisis

John Taylor of Stanford University talks with EconTalk host Russ Roberts about the fundamental causes of the financial crisis of 2008...

July 7, 2009 | Bloomberg

Taylor Says Previous Stimulus Package `Not Working': Video

John Taylor, an economics professor at Stanford University, talks with Bloomberg Carol Massar and Mark Crumpton about the potential for a second U.S. economic stimulus package...

June 28, 2009 | CNN

GPS: Krugman and Taylor

Paul Krugman and John B. Taylor debate the origins of the financial crisis and the proposed health care plan...

June 22, 2009 | C-SPAN

John Taylor, Fmr. Treasury Undersec., Bush Admin. (2001-05)

Fmr. Treasury Undersecretary John Taylor (2001-2005) spoke about the economy, including the deficit, and the stimulus passed by the Obama Administration...

May 28, 2009 | CNBC

Bernanke & the Bond Market

John Taylor, fmr. Under Secretary of Treasury of International Affairs; James Bianco, of Bianco Researcy; and the CNBC news team discuss the bond market and the Fed...

April 6, 2009 | Fox News

Treasury Covering Up Massive Fraud?

Taylor on Geithner and North Korea...

April 2, 2009 | Fox News

G-20 Expanding Global Trade

"Just -- and I hope you were able to hear of some of the points that Peter was making job reaction what what what's coming out of London again."...

April 8, 2009 | Bloomberg

Inside Look - Grading the TARP

Interview with Former Treasury Undersecretary John Taylor, Author of "Getting Off Track" (Bloomberg News)...

April 2, 2009 | Fox News

Econ Expert John Taylor on G-20

" Okay let's get John Taylor out of Stanford the former undersecretary...

April 1, 2009 | KQED

Great Expectations -- The G20 Meeting

Leaders of the Group of 20 (G20) rich and developing countries meet in London on Thursday to discuss ways to tackle the global economic crisis...

March 27, 2009 | Bloomberg

Taylor Says U.S. Risks Financial System Overregulation: Video

John Taylor, economics professor at Stanford University, talks with Bloomberg's Haslinda Amin about U.S. financial system regulation...

March 19, 2009 | Reason

John B. Taylor "How Government Interventions Caused the Financial Crisis."

Author John B. Taylor discusses his book "Getting Off Track -- How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis," with Reason.tv's Michael C. Moynihan...

March 25, 2009 | Reason

Getting Off Track

John B. Taylor, professor of economics at Stanford University, challenges the conventional wisdom that it was an excess of deregulation that precipitated our current financial crisis...

March 19, 2009 | Townhall

H3: Dr. Kenneth Tokita, Erwin Chemerinsky, John Eastman, Dr. John Taylor

Hour 3 - Hugh talks health care, and especially prostate cancer screening after a very misleading couple of news stories with Dr. Kenneth Tokita, legal news of the week with the Smart Guys, and economics with Hoover Institute scholar, Dr. John Taylor...

March 22, 2009 | Newsweek On Air

Newsweek On Air: March 22, 2009

Perils of Populism, Blame Washington, Stem Cell Trial, Dealing With Disabilities, D. C. Thriller King, 6th Anniversary of Shock and ...

March 16, 2009 | CNBC

Bear Stearns: One Year Gone

A look at what has happened in the year since Bear Stearns collapsed, with John B. Taylor, former Treasury undersecretary and author of "Getting Off Track: How Government Actions and Interventions Caused, Prolonged and Worsened the Financial Crisis."...

February 28, 2009

New Keynesian versus Old Keynesian

Renewed interest in fiscal policy has increased the use of quantitative models to evaluate policy...

March 5, 2009 | Hot Air

The Ed Morrissey Show: Dr. Anne Layne-Farrar, Card Check; John Taylor, Getting Off Track

Today, on the Ed Morrissey Show (3 pm ET), we welcome John Taylor of the Hoover Institution and Stanford University to discuss his new book, Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis...

March 4, 2009 | Diane Rehm Show (Washington, DC)

11:00-U.S. Debt

President Obama's budget projects the federal government will borrow $2.6 trillion this year and another $1.1 trillion in 2010...

February 16, 2009 | ABC Online (Australia)

Professor John Taylor joins Lateline

The Government's $42 billion stimulus package is an attempt to prevent Australia suffering the same economic fate as Japan...

February 9, 2009 | CNBC

It's The Government, Stupid!

Pointing blame at the government, with John Taylor, Stanford University professor of economics and CNBC's Erin Burnett...

February 10, 2009 | KQED

Selling the Stimulus

The U.S. Senate is expected to approve an $838 billion economic stimulus bill on Tuesday...

January 26, 2009 | CNBC

Taking the Next Step with TARP

A more concrete plan for that money, with John Taylor former undersecretary, international affairs and Rep. Paul Ryan, R-WI...

January 11, 2009 | Cafe Hayek

Planet Obama

The first ten minutes of this Planet Money podcast I talk about what it was like to have Obama on the GMU campus proposing to spend a lot of my money and yours...

January 9, 2009 | Uncommon Knowledge

Crisis Management with John Taylor: Chapter 5 of 5

John Taylor says it will be tragic if we forget all we learned over the past two-and-a-half decades about the importance of the private sector and the free market...

January 8, 2009 | Uncommon Knowledge

Crisis Management with John Taylor: Chapter 4 of 5

John Taylor describes four economic stimuli that will work to solve the financial crisis...

January 7, 2009 | Uncommon Knowledge

Economics with John Taylor: Chapter 3 of 5

John Taylor describes what the government should and should not do in response to the financial crisis...

January 6, 2009 | Uncommon Knowledge

Economics with John Taylor: Chapter 2 of 5

John Talyor says the origin of today’s financial crisis can be located in the monetary excesses of the Greenspan Fed, although there were many other contributing factors...

January 5, 2009 | Uncommon Knowledge

Economics with John Taylor: Chapter 1 of 5

Economist John Taylor discusses the causes of today’s financial crisis — which he labels the most “unusual” crisis since the Great Depression...

November 19, 2008 | United States Senate

The State of the Economy and Principles for Fiscal Stimulus

Thank you, Chairman Conrad, Ranking Member Gregg, and other members of the Senate Budget Committee for giving me the opportunity to testify about the state of the economy and options for a second fiscal stimulus...

August 18, 2008 | EconTalk

John Taylor on Monetary Policy

John Taylor of Stanford University talks about the Taylor Rule, his description of what the Fed ought to do and what it sometimes actually does, to keep inflation in check and the economy on a steady path...

June 16, 2008 | Washington Post

The Bubble: Transcript

Washington Post staff writers Alec Klein and Zach Goldfarb were online Monday, June 16 at 12:30 p.m. ET with guest John Taylor, Stanford economics professor, to discuss their three-part narrative series about the U.S. housing bust...

March 1, 2008 | Finance and Development (IMF)

People in Economics: The Quest for Rules

Having a concept named after you is as much a mark of honor in economics as it is in other sciences...

March 25, 2008 | KQED

Examining McCain

Republican presidential candidate John McCain is campaigning in California over the next few days....

February 15, 2008 | National Review Online

The Economy According to Taylor and Judd: Chapter 5 of 5

Should the next president let the Bush tax cuts expire, on the theory that the government will need higher tax revenues to meet a rising entitlement burden?

February 14, 2008 | National Review Online

The Economy According to Taylor and Judd: Chapter 4 of 5

Hot-button economic issues for the 2008 campaign season include trade deficits, a weak dollar, and high household and federal debt...

February 13, 2008 | National Review Online

The Economy According to Taylor and Judd: Chapter 3 of 5

Bush says an economic-stimulus package comprised of tax rebates is necessary to get the economy going again...

February 12, 2008 | National Review Online

The Economy According to Taylor and Judd: Chapter 2 of 5

Much of the recent economic and stock market indigestion is the result of the sub-prime credit crisis that erupted last summer...

February 11, 2008 | National Review Online

The Economy According to Taylor and Judd: Chapter 1 of 5

Are we, in fact, in a recession?

February 5, 2008 | Stanford Daily

Profs advise '08 candidates

On the eve of Super Tuesday, The Daily interviewed three professors currently advising presidential contenders: John Taylor, a professor of economics and an adviser to Senator John McCain (R-AZ), and Larry Marshall and Mariano-Florentino Cuellar, both law professors helping Senator Barack Obama (D-Ill.)...

May 22, 2007 | CNBC

U.S. Wants Forceful Action on Trade, China Warns Against Pushing

Treasury Secretary Henry Paulson said on Tuesday the United States was impatient for forceful Chinese action to cut trade deficits but Chinese Vice Premier Wu Yi said Beijing would not yield to pressure...

May 10, 2007 | CNBC

China Trade Dispute Divides Analysts

This week, Congress is hearing from labor interests and economists, urging different agendas for U.S. trade with China...

April 25, 2007 | FrontPage Magazine

Global Financial Warriors

Frontpage Interview’s guest today is John B. Taylor, a senior fellow at the Hoover Institution and a professor of economics at Stanford...

February 6, 2007 | FrontPage Magazine

The Banking Front

John B. Taylor, a senior fellow at the Hoover Institution and an economics professor at Stanford University, was a key player in the international financial war against terrorism after 9/11...

January 28, 2007 | Pittsburgh Tribune-Review

Half-page books: Bankers vs. terrorists

John B. Taylor, a senior fellow at the Hoover Institution and an economics professor at Stanford University, was a key player in the international financial war against terrorism after 9/11...

January 10, 2007 | Hoover Institution

GLOBAL FINANCIAL WARRIORS: The Untold Story of International Finance in the Post-9/11 World

Former Treasury Undersecretary John B. Taylor reveals the true extent of the financial battle against terrorism since September 11, 2001 in his compelling new book GLOBAL FINANCIAL WARRIORS: The Untold Story of International Finance in the Post-9/11 World [W.W. Norton & Company; January 8, 2007; $26.95 Cloth] – a boots-on-the ground view of the complex challenges faced by America’s money minders in the wake of the country’s worst-ever terror attack. John B. Taylor was Treasury Under Secretary for International Affairs from 2001 to 2005. The Bowen H. and Janice Arthur McCoy Senior Fellow at the Hoover Institution, he is the Mary and Robert Raymond Professor of Economics at Stanford University. Now available at www.wwnorton.com and at bookstores...