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

Featured

How To Improve California’s Education, Housing Affordability

by Lee Ohanian, John B. Taylor mentioning Eric Hanushek, Hoover Institutionvia San Francisco Chronicle
Monday, February 4, 2019

Gov. Gavin Newsom’s first budget comes when California is the most challenging state in the country for low- and middle-income households: California has the highest poverty rate of any of the 50 states. California also ranks 49th in both housing affordability and cost of living. It ranks 50th in homelessness, 40th in the overall tax burden and 42nd in how well it is educating its kindergarten through high school-age young people.

Policy InsightsFeatured

Policy Insights: Free Trade

featuring Milton Friedman, John B. Taylor, John H. Cochrane , Edward Paul Lazear, Michael J. Boskin, Richard A. Epstein, Russell Roberts, Tom Churchvia PolicyEd
Wednesday, January 23, 2019

After a generation of trade liberalizations, many Americans—on the left and the right—are having second thoughts.

Featured

A Different Kind Of Revisiting The 2008 Financial Crisis

by John B. Taylorvia Economics One
Friday, December 28, 2018

During the past few months, John Cochrane and I organized a series of workshops on the 2008 financial crisis. Monika Piazzesi, George Shultz, Niall Ferguson, Caroline Hoxby, and Darrell Duffie joined us in making presentations and, along with other colleagues who attended, turned the series into a vigorous and informative discussion. 

Transcript

Revisiting the 2008 Financial Crisis: The Lessons (Transcript)

by John B. Taylorvia Revisiting the 2008 Financial Crisis
Friday, December 21, 2018

The transcript of the session “Workshop Series on the 2008 Financial Crisis: The Lessons,” at the Hoover Institution, Stanford University on December 7, 2018. Chaired by John Taylor with opening presentations by Darrell Duffie and John Cochrane, followed by a general group discussion.

Transcript

Revisiting the 2008 Financial Crisis: The Recession (Transcript)

by John B. Taylorvia Revisiting the 2008 Financial Crisis
Friday, December 21, 2018

The transcript of the session “Workshop Series on the 2008 Financial Crisis: The Panic,” at the Hoover Institution, Stanford University on December 7, 2018. Chaired by John Taylor with opening presentations by Caroline Hoxby, John Taylor, John Cochrane, and Bob Hall, followed by a general group discussion.

Policy InsightsFeatured

Policy Insights: Health Insurance

by Scott W. Atlas, Michael J. Boskin, Tom Church, John H. Cochrane , John F. Cogan, Daniel Heil, Daniel P. Kessler, John B. Taylorvia PolicyEd
Thursday, December 20, 2018

Health insurance helps many Americans purchase health care. So why is it so expensive, and how can we make it more affordable?

Papers And Presentations

Fiscal Stimulus Programs During the Great Recession

by John B. Taylorvia Revisiting the 2008 Financial Crisis
Friday, December 7, 2018

Remarks prepared for the “Recession” Session at the “Workshop Series on the 2008 Financial Crisis: Causes, The Panic, The Recession, Lessons”

Transcript

Revisiting the 2008 Financial Crisis: The Panic (Transcript)

by John B. Taylorvia Revisiting the 2008 Financial Crisis
Thursday, November 15, 2018

The transcript of the session “Workshop Series on the 2008 Financial Crisis: The Panic,” at the Hoover Institution, Stanford University on November 9, 2018. Chaired by John Cochrane with opening presentations by George P. Shultz and Niall Ferguson, followed by a general group discussion.

Featured

Now They’re All Saying “It’s Time To Write Chapter 14 Into Law”

by John B. Taylorvia Economics One
Wednesday, November 14, 2018

Yesterday the Senate Judiciary Committee held an important hearing entitled “Big Bank Bankruptcy: 10 Years After Lehman Brothers.” Originally scheduled for October, but postponed because of the debate over the Kavanaugh confirmation, the hearing concentrated on legislation that would create a new “Chapter 14” of the bankruptcy code under which large financial institutions could go into bankruptcy without spreading the crisis to the rest of the financial system.

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