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

Macro Model Disagreements and Reality

by John B. Taylorvia Advancing a Free Society
Sunday, February 21, 2010

Last Friday Macroeconomic Advisers (MA), a forecasting firm, posted a blog entry responding to empirical work by me and others on the “stimulus act” of 2009.

Analysis and Commentary

Macro Model Disagreements and Reality

by John B. Taylor with John F. Coganvia Economics One (blog)
Sunday, February 21, 2010

Last Friday Macroeconomic Advisers (MA), a forecasting firm, posted a blog entry responding to empirical work by me and others on the “stimulus act” of 2009. . . .

Stimulus Anniversary Blogs

by John B. Taylorvia Advancing a Free Society
Tuesday, February 16, 2010

With the one year anniversary of the signing of the stimulus it is useful to review the facts and data as they came in during the year. Here are the relevant posts from Economics One. Most look at actual data and find virtually no impact.

Analysis and Commentary

Stimulus Anniversary Blogs

by John B. Taylorvia Economics One (blog)
Tuesday, February 16, 2010

With the one year anniversary of the signing of the stimulus it is useful to review the facts and data as they came in during the year. . . .

More Economists To Meet with Financial Crisis Inquiry Commission

by John B. Taylorvia Advancing a Free Society
Thursday, February 11, 2010

The Financial Crisis Inquiry Commission (FCIC) will meet with more economists on February 26-27 to delve into causes of the crisis, considering in particular: monetary policy, derivatives, shadow banking, GSEs,

Analysis and Commentary

More Economists To Meet with Financial Crisis Inquiry Commission

by John B. Taylorvia Economics One (blog)
Thursday, February 11, 2010

The Financial Crisis Inquiry Commission (FCIC) will meet with more economists on February 26-27 to delve into causes of the crisis, considering in particular: monetary policy, derivatives, shadow banking, GSEs, and bailouts of "too big too fail" institutions. . . .

Analysis and Commentary

New Book on How to End Government Bailouts

by John B. Taylor with Robert E. Hall, Kenneth E. Scott, George P. Shultzvia Economics One (blog)
Thursday, February 11, 2010

America is sick of bailouts. . . .

New Book on How to End Government Bailouts

by John B. Taylorvia Advancing a Free Society
Thursday, February 11, 2010

America is sick of bailouts. As President Obama called out in the State of the Union “we all hated the bank bailout. I hated it. I hated it. You hated it.” But the bailout mentality continues, and hate alone will not make it go away. So how can we end bailouts?

Analysis and Commentary

An Exit Rule as an Exit Strategy for Monetary Policy

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

Today’s hearing at the House Committee on Financial Services on “Unwinding Emergency Federal Reserve Liquidity Programs and Implications for Economic Recovery” was cancelled because of snow. . . .

An Exit Rule as an Exit Strategy for Monetary Policy

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

Today’s hearing at the House Committee on Financial Services on “Unwinding Emergency Federal Reserve Liquidity Programs and Implications for Economic Recovery” was cancelled because of

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