Fiscal Policy


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In the News

Taylor Rule Shows Raghuram Rajan’s Policy Rate Regime Was Prudent, Not Hawkish

featuring John B. Taylorvia Live Mint
Thursday, August 11, 2016

With the Taylor Rule policy rate now higher than the actual repo rate, the new Monetary Policy Committee has a job on its hands.


Ed Lazear On The John Batchelor Show

interview with Edward Paul Lazearvia The John Batchelor Show
Tuesday, August 9, 2016

Hoover Institution fellow Ed Lazear talks about his Wall Street Journal article "The Fed Missed Its Chance. Now What?"


A World Without Cash

by John H. Cochrane via Grumpy Economist
Monday, August 8, 2016

Max Raskin and David Yermack have a nice WSJ OpEd last week, "Preparing for a world without cash." The oped summarizes their related paper. 

In the News

State Of The Debate On 'Too Big To Fail' (James Bullard Commentary)

quoting John H. Cochrane via Arkansas Business
Monday, August 8, 2016

After the financial crisis, new regulations sought to address systemic risk within the U.S. financial system, including rules addressing capital requirements, liquidity ratios and leverage levels. 

In the News

The Desperation Of Independents

quoting Thomas J. Sargentvia Economist
Saturday, August 6, 2016

Stubbornly low interest rates may mean the end of central-bank autonomy.

In the News

Forcing Creditors To Take Losses Is How We'll End TBTF

quoting John H. Cochrane via American Banker
Friday, August 5, 2016

It seems like politicians, regulators and economists — from Sen. Elizabeth Warren to Federal Reserve Bank of Minneapolis President Neel Kashkari — have a new proposal almost daily for how to deal with the big banks.

In the News

Is Deutsche Bank Kaputt?

mentioning Allan H. Meltzervia Cato Institute
Thursday, August 4, 2016

It looks like Deutsche Bank is heading toward failure. Why might we be concerned? The problem is that Deutsche is too big to fail — more precisely, that the new Basel III bank resolution procedures now in place are unlikely to be adequate if it defaults.

Analysis and Commentary

The Reps' And Dems' Utter Unseriousness About The Major Long-Term Economic Issue

by David R. Hendersonvia EconLog
Tuesday, August 2, 2016

I watched much of the Republicans' and Democrats' conventions, as my long-suffering wife can ruefully attest to, so that you didn't have to. What both conventions should have been negative about is something that was scarcely mentioned: the large and growing U.S. federal government budget deficits ahead and the resulting large and growing U.S. federal government debt, debt that will grow as a percentage of GDP.


John Taylor On The Larry Kudlow Show (1:18:47)

interview with John B. Taylorvia Larry Kudlow Show
Saturday, July 30, 2016

Hoover Institution fellow John Taylor discusses the Fed, GDP, and the economy.

In the News

US Election: Hillary Clinton, Donald Trump Ignore US Debt Crisis

quoting Lanhee J. Chenvia Financial Review
Monday, August 1, 2016

Hillary Clinton and Donald Trump are playing the public for fools. While rallying the bases of their political parties with two sharply contrasting convention speeches in the past fortnight, both committed the same glaring omission.


Economic Policy Working Group

The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple