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

Analysis and Commentary

Is the Stimulus Working?

by John B. Taylor with John F. Coganvia Economics One (blog)
Sunday, September 20, 2009

My recent Wall Street Journal column with John Cogan and Volker Wieland looked at the data available so far and concluded that there has been no noticeable impact...

Analysis and Commentary

The Stimulus Didn't Work

by John F. Cogan, John B. Taylor with Robert J. Barrovia Wall Street Journal
Thursday, September 17, 2009

Is the American Recovery and Reinvestment Act of 2009 working?...

Analysis and Commentary

The coming debt debacle: Top economist says President Obama must slash spending, now

by John B. Taylorvia Daily News (NY)
Monday, August 31, 2009

New federal budget numbers released last week by the Congressional Budget Office (CBO) ought to be a game-changer for Congress and the Obama administration...

Analysis and Commentary

Taylor Rule Change Will Hurt Fed’s Inflation Fight: John Taylor

by John B. Taylor with Robert E. Hallvia Bloomberg
Tuesday, August 25, 2009

The Taylor Rule -- the guideline for central bank interest-rate decisions -- has been the subject of a heated debate among Fed watchers this summer...

Analysis and Commentary

Fed does not need more powers

by John B. Taylor with George P. Shultzvia Financial Times
Sunday, August 9, 2009

The Obama administration’s financial reform proposals would grant the Federal Reserve significant new powers...

Analysis and Commentary

Letter: It’s Worth the Trouble To Value Toxic Assets

by John B. Taylor, Kenneth E. Scottvia Wall Street Journal
Saturday, August 1, 2009

The letters (July 27) on our July 20 op-ed on the complexity and pricing difficulty of toxic assets raise practical issues...

Analysis and Commentary

Why Toxic Assets Are So Hard to Clean Up

by Kenneth E. Scott, John B. Taylorvia Wall Street Journal
Monday, July 20, 2009

Despite trillions of dollars of new government programs, one of the original causes of the financial crisis -- the toxic assets on bank balance sheets -- still persists and remains a serious impediment to economic recovery...

Getting Off Track

by John B. Taylorvia Hoover Digest
Wednesday, July 1, 2009

How the government created and prolonged the financial crisis. By John B. Taylor.

John B. Taylor

A Wake-up Call for Washington

by John B. Taylorvia Defining Ideas
Tuesday, May 26, 2009

Under President Barack Obama’s budget plan, the federal debt is exploding. To be precise, it is rising—and will continue to rise—much faster than gross domestic product, a measure of America’s ability to service the debt.

Analysis and Commentary

Exploding debt threatens America

by John B. Taylorvia Financial Times
Tuesday, May 26, 2009

Standard and Poor’s decision to downgrade its outlook for British sovereign debt from “stable” to “negative” should be a wake-up call for the US Congress and administration...

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