Economic Policy Working Group

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Michael Boskin

The U.S. Economy Is Becoming Reliant on Government Fixes

by Michael J. Boskinvia Defining Ideas
Friday, May 29, 2009

Higher spending, higher taxes, and an explosion of debt will crowd out borrowing in capital markets.

Analysis and Commentary

Exploding debt threatens America

by John B. Taylorvia Financial Times
Tuesday, May 26, 2009

Standard and Poor’s decision to downgrade its outlook for British sovereign debt from “stable” to “negative” should be a wake-up call for the US Congress and administration...

John B. Taylor

A Wake-up Call for Washington

by John B. Taylorvia Defining Ideas
Tuesday, May 26, 2009

Under President Barack Obama’s budget plan, the federal debt is exploding. To be precise, it is rising—and will continue to rise—much faster than gross domestic product, a measure of America’s ability to service the debt.

Analysis and Commentary

Grading Obamanomics

by Michael J. Boskinvia Project Syndicate
Tuesday, May 26, 2009
It is still too soon to gauge the full economic impact of President Barack Obama’s implemented and proposed policies, but a preliminary read indicates limited short-term benefit at large long-term cost.
John F. Cogan

New Keynesian versus Old Keynesian

by John F. Cogan, Tobias Cwik, John B. Taylor, Volker Wielandvia Defining Ideas
Thursday, May 21, 2009

Renewed interest in fiscal policy has increased the use of quantitative models to evaluate policy. We find that the models currently being used to evaluate fiscal policy stimulus proposals are weak.

Systemic Risk and the Role of Government

featuring John B. Taylorvia Analysis
Tuesday, May 12, 2009
Dinner Keynote Speech 
Conference on Financial Innovation and Crises 
Federal Reserve Bank of Atlanta 
Jekyll Island, Georgia 

Navigating Turbulent Waters: Central Banks and the Financial Crisis

featuring Andrew Crockettvia Analysis
Saturday, May 9, 2009

Memorial lecture in Honor of Dr Sam-Chung Hsieh, Stanford, May 7, 2009. 

Analysis and Commentary

Obama's $163,000 Tax Bomb

by Michael J. Boskinvia Wall Street Journal
Friday, April 3, 2009
Families well below the president's 'no-tax' threshold will get a six-figure bill. 
Analysis and Commentary

The Art of Persuasion at the G-20 Summit

by John B. Taylor, Josef Joffevia New York Times
Wednesday, April 1, 2009

President Barack Obama has tried to reduce the perception of a rift between the United States and member nations of the Group of 20 over how to revive the global economy...

Analysis and Commentary

Global Disaster Recovery

by Michael J. Boskinvia Project Syndicate
Wednesday, March 25, 2009

With the global economy mired in recession and financial crisis, policymakers everywhere have launched a series of monetary, financial, and fiscal responses...



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

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.