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, co-chairs the Hoover Technology, Economics and Governance Working Group, 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. His most recent book is Choose Economic Freedom: Enduring Policy Lessons from the 1970s and 1980s with George P. Shultz.

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

The Hidden Costs Of Monetary Easing

by John B. Taylor, Phil Grammvia Wall Street Journal
Tuesday, September 11, 2012

Since mid-September of 2008, the Federal Reserve balance sheet has grown to $2,814 billion from $924 billion as it purchased massive amounts of U.S. Treasurys and mortgage backed securities. To finance those purchases the Fed increased currency and bank reserves (base money).

Analysis and Commentary

When Volcker Ruled

by John B. Taylorvia Wall Street Journal
Saturday, September 8, 2012

Lessons from the man who led the U.S. through four decades of economic storms...

Analysis and Commentary

A New Chart Cast on the Bad News Recovery

by John B. Taylorvia Economics One
Friday, September 7, 2012
Analysis and Commentary

Strong Push Back At Jackson Hole

by John B. Taylorvia Economics One (blog)
Tuesday, September 4, 2012
Analysis and Commentary

Which Simple Rule for Monetary Policy?

by John B. Taylorvia Economics One (blog)
Monday, August 27, 2012
Analysis and Commentary

Democracy Is Not a Spectator Sport, Even for Economists

by John B. Taylorvia Economics One
Thursday, August 16, 2012

Dangerous Intervention

by John B. Taylorvia Hoover Digest
Monday, August 13, 2012

The Fed has been given too much power and too much discretion. Why we must rein it in. By John B. Taylor.

Analysis and Commentary

Paul Krugman is Wrong

by John B. Taylorvia Economics One (blog)
Monday, August 13, 2012
Analysis and Commentary

It’s Still a Recovery in Name Only--A Real Tragedy

by John B. Taylorvia Economics One
Friday, August 3, 2012
BooksBlank Section (Placeholder)Analysis and Commentary

Government Policies and the Delayed Economic Recovery

by Lee Ohanian, John B. Taylor, Ian J. Wrightvia Hoover Institution Press
Thursday, August 2, 2012

Economic growth during the recovery from the recession of has been remarkably slow—only 2.4 percent at an annual rate in the first two-and-a-half years. The slow recovery raises a number of important economic and public policy questions.

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