Economic Policy Working Group

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The Conduct of Monetary Policy

by Kevin Warshvia Economics Working Papers
Sunday, December 1, 2013

Economics Working Paper WP13115

Designing a Better Bankruptcy Resolution

by Kenneth E. Scottvia Economics Working Papers
Sunday, December 1, 2013

Economics Working Paper WP13112

Analysis and Commentary

Two Amazing Charts

by John B. Taylorvia Economics One
Saturday, November 23, 2013

Research by Christopher Erceg and Andrew Levin is providing solid evidence that the decline in the labor force participation rate since 2007 has been due to cyclical factors--the recession and slow...

Analysis and Commentary

Krugman’s Slack

by John B. Taylorvia Economics One
Wednesday, November 20, 2013

In a piece yesterday, Paul Krugman disagrees with my assessment that there was more overheating than slack in the economy in the years leading up to the 2007-09 recession and financial crisis. That...

Analysis and Commentary

The Problem is Policy Not a Secular Decline in the Real Interest Rate

by John B. Taylorvia Economics One
Monday, November 18, 2013

Larry Summers’ recent talk on what ails the US economy  at the November 8 IMF conference is getting a lot of attention. I first heard Larry present his argument at the October 1 Brookings-Hoover co...

In the News

Michael Boskin Discusses Current Standing of U.S. Labor Market

with Michael J. Boskinvia Stanford Daily
Thursday, November 14, 2013

A jobs report released last Friday by the Bureau of Labor Statistics (BLS) revealed data that ma...

In the News

What Billionaire Ray Dalio Gets Wrong About Money

with John B. Taylor, Allan H. Meltzervia Bloomberg Businessweek
Wednesday, November 13, 2013

The U.S. Federal Reserve cannot fire up a printing press to inject more cash into the economy—neither literally nor conceptually

In the News

Letter: Taylor Nails Federal Responsibility

with John B. Taylorvia Wall Street Journal
Sunday, November 10, 2013

John Taylor recaps the federal government's policy missteps that contributed to (if they weren't the sole cause of) the 2008 financial crisis, and he builds a solid case that "Economic Failure Causes Political Polarization" (op-ed, Oct. 29).

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

Meeting to Analyze Financial Rescue Plan Options

Friday, October 10, 2008
George Shultz Conference Room, Herbert Hoover Memorial Building
Guests: John Taylor, Joe Grundfest, John Gunn, Kenneth Scott, Darrell Duffie, John Shoven, Michael Boskin, John Ciorciari, and Matthew Gunn
Event

Policy Seminar on Financial Markets and Credit Losses

Wednesday, September 17, 2008

Guest Speaker: Wesley Phoa (Capital Strategy Research)

Event

Policy Seminar with Charles Schwab

Monday, July 28, 2008
George Shultz Conference Room, Herbert Hoover Memorial Building

Guests: Charles Schwab, George Shultz, John Taylor, John Cogan, Joe Grundfest, John Shoven, Michael Boskin, Darrell Duffie, Kenneth Scott, and John Ciorciari.

Event

Policy Workshop: The Future Role of Central Banking Policy: Urgent and Precedent-Setting Next Steps

Tuesday, July 22, 2008

Severe stress in the financial markets has given rise to a host of unprecedented actions by the Federal Reserve, including the Bear Stearns intervention, new lending facilities for primary dealers, and a decision to authorize the Fed to lend to Fannie Mae and Freddie Mac should such lending become necessary. 

Event

Hoover-Stanford policy workshop on U.S. central banking policy to be broadcast live on Internet July 22

Friday, July 18, 2008
Stanford

On July 22, the Hoover Institution's Global Markets Working Group—in cooperation with the Stanford Graduate School of Business and Rock Center for Corporate Governance at Stanford Law School—will host a policy workshop to address important questions about the future of central banking policy.

Press Releases

Policy Seminar on Hedge Funds & Financial Markets

Thursday, June 19, 2008
George Shultz Conference Room, Herbert Hoover Memorial Building

Guest speaker: Myron Scholes (Platinum Grove Asset Management)

Event

Special Seminar on Income Distribution

Tuesday, June 3, 2008
Annenberg Conference Room, Lou Henry Hoover Building

Guest speakers: Professor Emmanuel Saez (University of California-Berkeley) and Professor Kevin Murphy (University of Chicago)

Event

Policy Seminar on Sovereign Wealth Funds

Monday, May 5, 2008
George Shultz Conference Room, Herbert Hoover Memorial Building

Guest speakers: Edwin Truman (Peterson Institute for International Economics) and Adnan Mazarei (International Monetary Fund)

Event

Policy Seminar on Developments in Investment Banking

Thursday, April 17, 2008
George Shultz Conference Room, Herbert Hoover Memorial Building

Guest Speaker: Philippe Barret (Dodge & Cox)

Event

Policy Seminar on Recent Turmoil in Financial Markets

Wednesday, April 9, 2008
George Shultz Conference Room, Herbert Hoover Memorial Building

Guest Speaker: Governor Kevin Warsh (Federal Reserve Board)
Discussant: John C. Williams (San Francisco Fed)

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.

 

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.

 


Contacts

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.