Economic Policy Working Group

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Perspectives on the New Architecture for the U.S. National Accounts

by Michael J. Boskinvia Paper to be presented at the American Economic Association Meetings, San Francisco, California,
Sunday, January 4, 2009
Paul Samuelson once called the National Income and Product Accounts (NIPAs) one of the great inventions of the 20th century.
Analysis and Commentary

Bursting the Bubble

by Michael J. Boskinvia New York Times
Saturday, November 29, 2008

I remember taking a group of business leaders to see President George H. W. Bush in early 1991 to impress upon him the severity of the economic downturn...

Analysis and Commentary

Why Permanent Tax Cuts Are the Best Stimulus

by John B. Taylor with Milton Friedmanvia Wall Street Journal
Tuesday, November 25, 2008

Short-term fiscal policies fail to promote long-term growth.

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The State of the Economy and Principles for Fiscal Stimulus

featuring John B. Taylorvia Committee on the Budget, United States Senate
Wednesday, November 19, 2008
Testimony before the Committee on the Budget 
United States Senate 
Analysis and Commentary

Our Next President and the Perfect Economic Storm

by Michael J. Boskinvia Wall Street Journal
Thursday, October 23, 2008

Obama could help markets by changing his tune on tax hikes and protectionism.

Complicated Roads
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Derivatives and Mass Financial Destruction

by Darrell Duffievia Wall Street Journal
Wednesday, October 22, 2008

Complex financial products can be useful if regulated properly.

Analysis and Commentary

Obamanomics Is a Recipe for Recession

by Michael J. Boskinvia Wall Street Journal
Tuesday, July 29, 2008

What if I told you that a prominent global political figure in recent months has proposed: abrogating key features of his government's contracts with energy companies; unilaterally renegotiating his country's international economic treaties; dramatically raising marginal tax rates on the "rich" to levels not seen in his country in three decades (which would make them among the highest in the world); and changing his country's social insurance system into explicit welfare by severing the link between taxes and benefits?...

An Ounce of Prevention is Worth a Pound of Cure

featuring George P. Shultzvia Analysis
Tuesday, July 22, 2008
Opening Remarks Policy Workshop on the Future Role of Central Banking: 
The Urgent and Precedent-Setting Next Steps

Testimony on the Credit Crunch

featuring Darrell Duffievia Analysis
Wednesday, July 9, 2008

Testimony before Senate Committee on Banking, Housing, and Urban Affairs

The Way Back to Stability and Growth in the Global Economy: The Mayekawa Lecture

featuring John B. Taylorvia Analysis
Wednesday, May 28, 2008
Presented at the 2008 International Conference: Frontiers in Monetary Theory and Policy 
The Institute for Monetary and Economic Studies 
Bank of Japan 



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...


Archive of Working Papers on Economic Policy

Speeches and Testimony

John B. Taylor



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

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



For general questions about the Working Group, please contact John Taylor or his assistant Marie-Christine Slakey at (650) 723-9677. For media inquiries, please contact our office of public affairs.