John B. Taylor

George P. Shultz Senior Fellow in Economics
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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Analysis and Commentary

Lehman Weekend

by John B. Taylorvia Economics One
Sunday, September 12, 2010

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...

Analysis and Commentary

Flying Back to Treasury on 9/11

by John B. Taylorvia Economics One
Saturday, September 11, 2010

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...

Analysis and Commentary

Post-Crisis Changes in Principles of Economics Texts

by John B. Taylorvia Economics One
Thursday, September 9, 2010

Many have written about how the introductory economics textbook should change as a result of the crisis...

Analysis and Commentary

A Symposium: What Should the Federal Reserve Do Next?

by John B. Taylorvia Wall Street Journal
Thursday, September 9, 2010

Near-zero interest rates and unprecedented asset purchases by the Fed have failed to return the U.S. economy to robust growth...

Analysis and CommentaryBlank Section (Placeholder)

What Should the Federal Reserve Do Next?

by John B. Taylorvia Wall Street Journal
Thursday, September 9, 2010

 A prolonged period of near-zero interest rates and unprecedented asset purchases by the Federal Reserve has failed to return the U.S. economy to robust growth or make an appreciable dent in unemployment. It is now commonly asserted that the Fed is "out of ammunition." Is it?

More on Massive Quantitative Easing

by John B. Taylorvia Advancing a Free Society
Wednesday, September 8, 2010

In tomorrow’s Wall Street Journal there is a symposium on monetary policy in which Richard Fisher, Rick Mishkin, Vince Reinhart, Allan Meltzer, Ron McKinnon and I participate.

Analysis and Commentary

More on Massive Quantitative Easing

by John B. Taylorvia Economics One
Wednesday, September 8, 2010

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...

Analysis and Commentary

Beyond GDP Measures Don’t Make the US Look Better

by John B. Taylorvia Economics One
Monday, September 6, 2010

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

A Milton Friedman Revival

by John B. Taylorvia Advancing a Free Society
Friday, September 3, 2010

Bloomberg columnist Caroline Baum laments that monetarists have “followed Milton Friedman the grave.” Monetarist, of course, is a term used to id

Analysis and Commentary

A Milton Friedman Revival

by John B. Taylorvia Economics One
Friday, September 3, 2010

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...

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