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Analysis and CommentaryBlank Section (Placeholder)

In Praise of Debt Limit 'Chicken'

by John B. Taylorvia Wall Street Journal
Thursday, June 2, 2011

Yesterday 150 economists released a statement saying a higher debt ceiling should be tied to spending reform now...

Book Review of Reckless Endangerment by Gretchen Morgenson and Joshua Rosner

by John B. Taylorvia Washington Post
Sunday, May 29, 2011

In “Reckless Endangerment,” Gretchen Morgenson and Joshua Rosner argue that cozy relationships between government and the financial industry were the primary cause of the financial crisis.

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After Revolution, the Hard Part

by John B. Taylorvia Bloomberg
Thursday, May 26, 2011

This week's discussion on the economic impact of democratic change in the Middle East reminds me of the upheaval that transformed Poland from a centrally planned economy to a capitalist one two decades ago...

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Voters vs. the Welfare State

by Michael J. Boskinvia Project Syndicate
Tuesday, May 24, 2011

Only time will tell if recent elections in the UK, the US, and Canada, together with next year's presidential election in France, signal a retreat from the growth of the welfare state or just a temporary respite...

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The Millionaire Retirees Next Door

by John F. Coganvia Wall Street Journal
Thursday, May 12, 2011

Typical retired couples will collect $1 million or more in Social Security and Medicare. This is more than they paid in, and the cost will fall on today's workers...

John B. Taylor

John Taylor notes that Bernanke needs to outline a strategy on Fox Business News

via Fox Business
Wednesday, April 27, 2011

John Taylor, the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University, discusses the Federal Reserve’s monetary policy and strategy. Taylor notes that QE1 and QE2 or easy money create little benefit for the increased risk of inflation or the increased risk of economic disruption when all the stimulus money is pulled out of the system. (3:44)


Bernanke Needs to Outline Strategy

with John B. Taylorvia Fox Business
Wednesday, April 27, 2011

Stanford Professor of Economics John Taylor argues the economy needs a traditional type of policy to recover...

Economics Abstract

Resolution of Failed Financial Institutions: Orderly Liquidation Authority and a New Chapter 14

by Thomas Jackson, Kenneth E. Scott, Kimberly Anne Summe, John B. Taylorvia Analysis
Monday, April 25, 2011
Studies by the Resolution Project at Stanford University’s Hoover Institution Working Group on Economic Policy.
The purpose of this short collection of papers is to demonstrate why the "orderly liquidation authority" in Title II of the Dodd–Frank bill “Wall Street Reform and Consumer Protection Act of 2010” should be supplemented with a new and more predictable bankruptcy process designed specifically for large financial institutions. 
Analysis and Commentary

Obama's Permanent Spending Binge

by John B. Taylorvia Wall Street Journal
Friday, April 22, 2011

If government got by with 20% of GDP in 2007, why not in 2021, when GDP will be substantially higher...?



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.