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

Improving the Federal Reserve System

featuring John B. Taylorvia Analysis
Tuesday, May 8, 2012
Testimony before the Subcommittee on Domestic Monetary Policy and Technology of the Committee on Financial Services 
U.S. House of Representatives 
Analysis and Commentary

A Diverse and Wide Open Hearing on Fed Reforms

by John B. Taylorvia Economics One
Monday, May 7, 2012

The House Domestic Monetary Policy subcommittee, with Ron Paul in the chair, is holding hearings [today] on six proposed bills to reform the Fed...Two of the bills would refrom the Fed’s dual mandate...

Analysis and Commentary

Debate and Evidence on the Weak Recovery

by John B. Taylorvia Economics One
Wednesday, May 2, 2012

Last week’s GDP release is yet more evidence that this recovery has been remarkably weak, and has been so from the start...

Analysis and Commentary

New Model Validation of Stimulus Impacts

by John B. Taylorvia Economics One (blog)
Monday, April 16, 2012

A paper just published in the American Economic Journal: Macroeconomics sheds additional light on the Keynesian multiplier debate, which has surged since the 2009 stimulus package—ARRA—was enacted...

Analysis and Commentary

References to Policy Rules in a Speech by the Fed Vice Chair

by John B. Taylorvia Economics One (blog)
Friday, April 13, 2012

In a speech to the Money Marketeers in New York City this past week, Fed Vice Chair Janet Yellen gave a useful description of how she and other policy makers are thinking analytically about monetary policy...

Getting Back on Track

by John B. Taylorvia Advancing a Free Society
Saturday, April 7, 2012

A lot of people are wondering what we can do to restore America’s prosperity and create more jobs. Both the president and his Republican rivals have offered their ideas in this election year.

Getting Back on Track

by John B. Taylorvia Hoover Digest
Friday, April 6, 2012

A return to first principles: economic freedom leads to economic success. By John B. Taylor.

Policy Failure and the Great Recession

by John B. Taylorvia Advancing a Free Society
Sunday, April 1, 2012

The debate about the causes of the financial crisis and the great recession will continue for many years, and the facts and analysis that Robert Hetzel put forth in his new book The Great Rec

A Little Dynamic Scoring of the House Budget

by John B. Taylorvia Advancing a Free Society
Sunday, April 1, 2012
In a recently released report the Congressional Budget Office calculated how debt reduction with the House Budget Resolution (which just passed the House today), would affect GNP in the United States.
Analysis and Commentary

Policy Failure and the Great Recession

by John B. Taylorvia Economics One
Saturday, March 31, 2012

The debate about the causes of the financial crisis and the great recession will continue for many years, and the facts and analysis that Robert Hetzel put forth in his new book The Great Recession: Market Failure or Policy Failure? should now be part of that debate...

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