John B. Taylor

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

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

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

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

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

Taylor received the 2016 Adam Smith Award from the Association of Private Enterprise Education and the 2015 Truman Medal for Economic Policy for extraordinary contribution to the formation and conduct of economic policy.

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

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Recent Commentary

InterviewsEconomy

Getting The Budget Straightened Out Will Help The Economy, Hoover Fellow John Taylor Says

interview with John B. Taylorvia CNBC
Wednesday, November 27, 2019

Hoover Institution fellow John Taylor discusses the latest economic data and notes that the expansion is continuing and policy should not disrupt the expansion.

Featured

A Fast And Fun Way To Learn About Rules Versus Discretion

by John B. Taylor mentioning Hoover Institutionvia Economics One
Wednesday, November 27, 2019

The Hoover Institution has initiated a fascinating Perspectives on Policy video series in which experienced experts give clear explanations of key policy issues assisted by the latest in animation technology. This is not the typical video of talking heads as you might expect. In this imaginative series tabletop cartoon figures join the experts, move around the screen, bend and twist to show emotions, and even wave at each other from time to time. 

Perspectives on PolicyFeatured

Monetary Policy: Rules Vs. Discretion

by John B. Taylorvia PolicyEd
Monday, November 25, 2019

A rules-based monetary policy is more effective in promoting economic growth and stability than a discretionary monetary policy.

InterviewsEconomy

John Taylor On The Guy Benson Show

interview with John B. Taylorvia Guy Benson Show
Friday, November 22, 2019

(1:07:31) Hoover Institution fellow John Taylor discusses the economy.

Featured

Congressional Testimony On The Costs Of Rapidly Growing Government Debt

by John B. Taylorvia Economics One
Thursday, November 21, 2019

Yesterday I testified at the Committee on the Budget of the House of Representative. John Yarmuth chaired, and Steve Womack was the ranking member. The Committee titled the hearing “Reexamining the Economic Costs of Debt,” which was quite different from the title “Why Congress Must Balance the Budget” of a hearing of the same House Committee at which I testified only a few years ago in 2015.

In the News

John B. Taylor Visits UNCW For BB&T Global Capitalism And Ethics Lecture Event

featuring John B. Taylorvia WilmingtonBiz
Wednesday, November 20, 2019

On October 21, 2019, Professor John B. Taylor, Mary and Robert Raymond Professor at Stanford University and George P. Schultz Fellow at the Hoover Institution, presented the BB&T Global Capitalism and Ethics lecture in the Burney Center. Professor Taylor is one of the leading macroeconomists in the world today, and noted best around the globe for his development of the “Taylor rule” for use in conducting monetary policy. 

Interviews

John Taylor: Reexamining The Economic Costs Of Debt

interview with John B. Taylorvia U.S. House Committee on the Budget
Wednesday, November 20, 2019

Hoover Institution fellow John Taylor testifies to the House Committee on the Budget concerning the economic costs of debt.

FeaturedEconomy

The Economic Costs Of Rapidly Growing Federal Government Debt

by John B. Taylorvia U.S. House Committee on the Budget
Wednesday, November 20, 2019

Hoover Institution fellow John Taylor's testimony before the U.S. House of Representatives Committee on the Budget.

Interviews

John Taylor On The John Batchelor Show: The Rules-Based Federal Reserve: 1 Of 2: And The Robust US Economy.

interview with John B. Taylorvia The John Batchelor Show
Wednesday, November 6, 2019

(Part 1) Hoover Institution fellow John Taylor adds his perspective and insights to the current economic conditions.

Federal Reserve
Interviews

John Taylor On The John Batchelor Show: The Rules-Based Federal Reserve: 2 Of 2: And The Robust US Economy.

interview with John B. Taylorvia The John Batchelor Show
Wednesday, November 6, 2019

(Part 2) Hoover Institution fellow John Taylor adds his perspective and insights to the current economic conditions.

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