Economic Policy Working Group

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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).

Analysis and Commentary

It’s Not Doves v Hawks, It’s Rules v Discretion

by John B. Taylorvia Economics One
Sunday, November 10, 2013

For years commentators have endeavored to classify monetary policy makers into doves and hawks.  Doves are said to be more concerned with unemployment. Hawks are supposedly more concerned with infl...



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
Thomas W. and Susan B. Ford Distinguished Fellow

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)


Public Panel Discussion on International Exchange Rates

Wednesday, February 20, 2008

Speakers: John B. Taylor, Hiroshi Watanabe (former Japanese Vice-Minister of Finance), and Ronald McKinnon (Stanford University)


Policy Seminar on Key Issues in U.S.-Asian Economic Relations

Tuesday, February 19, 2008

Guest speaker: Hiroshi Watanabe, former Japanese Vice-Minister of Finance


Meeting with John W. Snow, former U.S. Treasury Secretary

Friday, February 8, 2008
Dinner with former Treasury Secretary John Snow 

Policy Seminar on Current Issues in Monetary and Financial Policy

Thursday, January 31, 2008
George Shultz Conference Room, Herbert Hoover Memorial Building

Speakers: John Gunn (Dodge & Cox) on financial market resiliency, John Taylor (Hoover Institution) on money market developments, and Professor Volker Wieland (Goethe University of Frankfurt) on monetary and fiscal stimulus policies.



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.