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

Iraq’s Debt Three Years Later

by John B. Taylorvia Advancing a Free Society
Wednesday, March 24, 2010

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

Quantitative Easing at the Fed and the Bank of Japan

by John B. Taylorvia Advancing a Free Society
Friday, March 19, 2010

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

Analysis and Commentary

Quantitative Easing at the Fed and the Bank of Japan

by John B. Taylorvia Economics One (blog)
Friday, March 19, 2010

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

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

by John B. Taylorvia Advancing a Free Society
Monday, March 15, 2010

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 c

Analysis and Commentary

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

by John B. Taylorvia Economics One (blog)
Monday, March 15, 2010

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. . . .

Ending Government Bailouts As We Know Them image cover
Books

Ending Government Bailouts As We Know Them

by Nicholas F. Brady, Darrell Duffie, Joseph A. Grundfest, Richard J. Herring, Thomas M. Hoenig, Thomas Jackson, William F. Kroener III, Charles S. Morris, Kenneth E. Scott, George P. Shultz, Kenneth Spong, Johannes Stroebel, Kimberly Anne Summe, John B. Taylor, Paul Volckervia Hoover Institution Press
Monday, March 15, 2010

The American people are clearly upset about the massive government bailouts of faltering organizations and the consequent commitment of taxpayer dollars-as well as the heavy involvement of the federal government in private sector activities.

Milton Friedman Had It Right All Along

by John B. Taylorvia Advancing a Free Society
Wednesday, March 10, 2010

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:

Analysis and Commentary

Milton Friedman Had It Right All Along

by John B. Taylorvia Economics One (blog)
Wednesday, March 10, 2010

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: . . .

Analysis and Commentary

Why Did Macro Policy in Emerging Market Countries Improve?

by John B. Taylorvia Economics One (blog)
Tuesday, March 2, 2010

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. . . .

Why Did Macro Policy in Emerging Market Countries Improve?

by John B. Taylorvia Advancing a Free Society
Tuesday, March 2, 2010

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.

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