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 BIS on "The Limits of Monetary Policy"

by John B. Taylorvia Economics One
Sunday, June 24, 2012

[The Bank for International Settlements] Annual Report is always worth reading. This is especially true of the Annual Report released today...

Analysis and Commentary

The GDP Impact a U.S. Fiscal Consolidation Strategy

by John B. Taylorvia Economics One
Tuesday, June 19, 2012

[Volker] Wieland, [Cogan] Cogan and I, joined by Maik Wolters, are simulating modern macroeconomic models to evaluate a fiscal consolidation strategy to reduce the deficit and end the explosion of the debt...

Analysis and Commentary

Fed Bought 77% of Federal Debt Increase in 2011: The Data Source

by John B. Taylorvia Economics One
Friday, June 8, 2012

During an interview on CNBC Squawk Box this morning and in my Wall Street Journal oped of last Friday (June 1), I mentioned that the Federal Reserve purchased 77% of the net increase in the debt by the Federal government in 2011...

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Blank Section (Placeholder)In the News

Jumpstart the Economy!

by John B. Taylorvia Defining Ideas
Wednesday, June 6, 2012

Return to first principles: limited government, markets, incentives, rule of law, and predictability.

Analysis and Commentary

Rules for America's Road to Recovery

by John B. Taylorvia Wall Street Journal
Friday, June 1, 2012

As Hayek taught us, predictable policies will help restore economic prosperity and preserve freedom...

Why We Still Need to Read Hayek

featuring John B. Taylorvia Analysis
Thursday, May 31, 2012

The Hayek Lecture
New York City

Analysis and Commentary

Big Mac and Big Macro

by John B. Taylorvia Economics One
Tuesday, May 22, 2012

In his presidential address this year before the American Economic Association, Princeton economist Orley Ashenfelter provides an interesting and novel way to calculate and compare real wages over time and across countries...

Analysis and Commentary

More Evidence on What Is Holding the Economy Back

by John B. Taylorvia Economics One
Sunday, May 13, 2012

Of course something is now interfering with the usual economic response, because our current recovery is certainly not springing back to normal...

Improving the Federal Reserve System: Examining Legislation to Reform the Fed and Other Alternatives

featuring John B. Taylorvia Committee on Financial Services, U.S. House of Representatives
Tuesday, May 8, 2012

Hoover Institution fellow John B. Taylor testified before the Subcommittee on Domestic Monetary Policy and Technology of the Committee on Financial Services, U.S. House of Representatives, at the Hearing on "Improving the Federal Reserve System: Examining Legislation to Reform the Fed and Other Alternatives."

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