John Raisian, the Hoover Institution’s Tad and Dianne Taube Director, announced the appointment of John B. Taylor as the first George P. Shultz Senior Fellow in Economics at the Hoover Institution. Taylor has held a senior fellow appointment at Hoover since 1996, joint with his appointment as the Mary and Robert Raymond Professor of Economics at Stanford.
Named in honor of former U.S. secretary of state George P. Shultz, this fellowship recognizes the work of a distinguished scholar of international prominence whose broad vision, knowledge, and skill has been brought to bear on problems of global significance
Taylor’s fields of expertise are monetary, fiscal, and international economic policy. In addition to having created formulas for wage and price setting as well as models for economic policy evaluation, one of his research contributions, widely known as the “Taylor rule,” is used by central banks around the world. In addition to scholarship, his public service record includes having been a senior economist on President Gerald Ford’s Council of Economic Advisers and a member of President George Herbert Walker Bush’s Council of Economic Advisers. From 2001 to 2005, Taylor served as undersecretary of the Treasury for international affairs.
George P. Shultz is the Thomas W. and Susan B. Ford Distinguished Fellow at the Hoover Institution. He has held four cabinet-level posts: U.S. secretary of state, U.S. secretary of the Treasury, U.S. secretary of labor, and director of the U.S. Office of Management and Budget. An expert on global political and economic policy, he held the Jack Steele Parker Professorship in International Economics at the Stanford Graduate School of Business. Secretary Shultz has received many honors and awards, including the nation’s highest civilian honor, the Medal of Freedom.