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Analysis and Commentary

Paul Krugman Pontificating On Policy Rules

by John B. Taylorvia Economics One
Tuesday, February 3, 2015

In a recent blog post Paul Krugman talks a lot about policy rules and the Taylor rule in particular.

Analysis and Commentary

Reply To Alan Blinder Redux

by John B. Taylorvia Economics One
Wednesday, January 28, 2015

Alan Blinder has written another Wall Street Journal article criticizing legislation that would simply require the Fed to describe its rule or strategy for monetary policy.  As with his earlier article, Blinder still “shoots at a straw man of his own making, not at the proposed law itself” as I wrote in another John Taylor’s Reply to Alan Blinder for the Wall Street Journal.

In the News

Free Markets Remain Our Best Friends

quoting John B. Taylor, John H. Cochranevia Go Upstate
Tuesday, January 13, 2015

For most of his six years in office, President Barack Obama utilized virtually every means a Keynesian imagination can cook up to give us the worst economic recovery since World War II.

Requirements for Policy Rules for the Fed

by John B. Taylorvia Economics Working Papers
Friday, December 19, 2014

Economics Working Paper WP14111

Analysis and Commentary

A New Fed Centennial Volume with a Twist

by John B. Taylorvia Economics One
Monday, December 1, 2014

As the two year centennial of the founding of the Fed in 1913-14 draws to a close this month, a new centennial volume, Frameworks for Central Banking in the Next Century, is being published as a special issue of the Journal of Economic Dynamics and Control.

Analysis and Commentary

The Next Trade Breakthroughs

by Michael J. Boskinvia Project Syndicate
Tuesday, November 18, 2014

STANFORD – Economic news is grim all around the world. This year’s output growth has been disappointing, and the International Monetary Fund expects only a slight improvement in 2015.

Pages

About

The Working Group on Economic Policy brings together experts on economic and financial policy at the Hoover Institution to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals. Read more...

Events

Archive of Working Papers on Economic Policy

Speeches and Testimony

John B. Taylor

Books

Media

Chair
George P. Shultz Senior Fellow in Economics
Participants
Wohlford Family Senior Fellow
Rose-Marie and Jack Anderson Senior Fellow
Leonard and Shirley Ely Senior Fellow
Senior Fellow
Senior Research Fellow
Thomas W. and Susan B. Ford Distinguished Fellow

Policy Seminar on Zero to One: Notes on Startups, or How to Build the Future

Monday, November 3, 2014
Stauffer Auditorium, Stanford University

Peter Thiel spoke about the basic principles that underlie innovative products and startup firms, using examples from his own experience starting up firms such as Paypal and Palantir. He  emphasized the importance of creating a firm or product with characteristics of monopoly, and contrasted that idea with the distinction between monopoly and competition taught in economics.

Event

Conference on Inequality in Memory of Gary Becker

Thursday, September 25, 2014 to Friday, September 26, 2014
Hoover Institution, Stanford University

This conference explores various measures of inequality and pose the question whether or not it is increasing.

Event

Policy Seminar on the European Approach to Bank Resolution and Bail-ins

Monday, August 25, 2014
George Shultz Conference Room, Herbert Hoover Memorial Building

Pierre-Henri Conac (Professor of Financial Markets Law at the University of Luxembourg and Member of the Securities and Markets Stakeholder Group (SMSG) of the European Securities and Markets Authority (ESMA)), discusses the European Approach to Bank Resolution and Bail-ins.

Event

Policy Seminar on the economic situation in Europe

Tuesday, July 1, 2014

Fabrizio Saccomanni (former deputy governor of the Bank of Italy and former minister of economy and finances of Italy), and Volker Wieland (professor of monetary theory and policy at Goethe University of Frankfurt, the Willem Duisenberg Research Fellow at the European Central Bank, and member of the German Council for Economic Experts) discusses the economic situation in Europe.

Event
Economic Growth Concept

Frameworks for Central Banking in the Next Century

Thursday, May 29, 2014 to Friday, May 30, 2014
Hoover Institution

The main unifying theme of the conference is that successful policy requires that central bankers’ decisions be based on clearly-understood rules—including legal limits, institutional structures, mandates, traditions, procedures, or formulas—and not solely on discretion. 

Event

Policy Seminar with Bob Hall

Thursday, April 24, 2014
George Shultz Conference Room, Herbert Hoover Memorial Building

Bob Hall, Hoover Institution Senior Fellow and Professor of Economics, discusses quantifying the lasting harm to the U.S. Economy from the financial crisis.

Event

Policy Seminar on “Possible Lessons for Economic and Financial Regulation Based on the Experience of INPO”

Monday, March 17, 2014
George Shultz Conference Room, Herbert Hoover Memorial Building

James Ellis, retired 4-star United States admiral and former chief executive officer of the Institute of Nuclear Power Operations (INPO), explained how INPO became an effective industry regulator and then led the assembled working group in a discussion of how regulation in the financial sector could be improved, based on INPO’s regulatory model.

Event

Policy Seminar on “Obamacare and Labor Markets”

Wednesday, February 19, 2014
George Shultz Conference Room, Herbert Hoover Memorial Building

Casey Mulligan, professor at the University of Chicago, discussed his work on the Affordable Care Act (i.e. ACA/“Obamacare”) and labor markets.

Event

Policy Seminar on “An Analysis of Current Monetary Policy”

Tuesday, February 11, 2014
George Shultz Conference Room, Herbert Hoover Memorial Building

Guest Speaker: Jeffrey Lacker (President of the Federal Reserve Bank of Richmond)

Event

Symposium on Monetary Policy Reform

Monday, January 13, 2014
George Shultz Conference Room, Herbert Hoover Memorial Building

Summary of Hoover' Economic Policy Meeting January 13, 2014
Guest Speakers: Michael Bordo, Allan Meltzer, George Shultz, and John Taylor

Event

Pages

The Working Group on Economic Policy brings together experts on economic and financial policy at the Hoover Institution to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

 

Working Group Meeting - March 9, 2018
Working Group Meeting - March 9, 2018

For twenty-five years starting in the early 1980s, the United States economy experienced an unprecedented economic boom. Economic expansions were stronger and longer than in the past. Recessions were shorter, shallower, and less frequent. GDP doubled and household net worth increased by 250 percent in real terms. Forty-seven million jobs were created.

This quarter-century boom strengthened as its length increased. Productivity growth surged by one full percentage point per year in the United States, creating an additional $9 trillion of goods and services that would never have existed. And the long boom went global with emerging market countries from Asia to Latin America to Africa experiencing the enormous improvements in both economic growth and economic stability.

Economic policies that place greater reliance on the principles of free markets, price stability, and flexibility have been the key to these successes. Recently, however, several powerful new economic forces have begun to change the economic landscape, and these principles are being challenged with far reaching implications for U.S. economic policy, both domestic and international. A financial crisis flared up in 2007 and turned into a severe panic in 2008 leading to the Great Recession. How we interpret and react to these forces—and in particular whether proven policy principles prevail going forward—will determine whether strong economic growth and stability returns and again continues to spread and improve more people’s lives or whether the economy stalls and stagnates.

Our Working Group organizes seminars and conferences, prepares policy papers and other publications, and serves as a resource for policymakers and interested members of the public.

Working Group Meeting - April 9, 2008
Working Group Meeting - April 9, 2008

 


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