Author Archives: John Taylor

Three Attributes of a Sustainable Open and Stable Global Order

The IMF/World Bank meetings were held in Bali last week. In addition to the many good beaches there were many good panels including one I was on with Mark Carney and Agustin Carstens. It was organized by the Group of … Continue reading

Posted in International Economics, Monetary Policy

Econ 1, Tiger Woods, and the Crisis@10

Today is the first day of the fall quarter at Stanford, and I begin teaching Economics 1, the introductory economics course, and the course after which this blog is named. The first day is always exciting, especially with many first-year … Continue reading

Posted in Financial Crisis, Monetary Policy, Slow Recovery, Teaching Economics

Stiglitz, Summers, Secular Stagnation, and the Supply Side

Joe Stiglitz recently published an attack, “The Myth of Secular Stagnation,” on Larry Summers’ hypothesis of secular stagnation, a revival of a term used by Alvin Hansen decades ago. Larry first presented his secular stagnation hypothesis at a conference jointly … Continue reading

Posted in Regulatory Policy, Slow Recovery, Stimulus Impact

17 Years of Economic and Security Challenges

Today we remember September 11, 2001 and all that has changed in the past 17 years. In his speech today at Shanksville President Trump was right to speak of incredible security challenges and sacrifices: “Since September 11th, nearly 5.5 million … Continue reading

Posted in Uncategorized

A Boot Camp with a Good Policy Workout

The annual Hoover Institution Summer Policy Boot Camp is now underway with a great group of college students and recent graduates from around the world.  The one-week program consists of lectures, workshops, and informal discussions, but it’s best described as … Continue reading

Posted in Teaching Economics

Turkey Tantrum Contagion Not Automatic, Rather Policy Dependent

Many have been talking about possible international contagion of the financial crisis in Turkey, and Peter Coy touched on the key issues in yesterday’s Bloomberg piece. Recent economic history and theory offer powerful lessons about contagion. Most important is that … Continue reading

Posted in Financial Crisis, Monetary Policy, Teaching Economics

Rules and Strategies in the Fed’s New Monetary Policy Report

The Fed’s Monetary Policy Report released last Friday devotes a lot of space to monetary policy rules. This is the third time in a row that the monetary policy report has included such discussions, the first being in July 2017 … Continue reading

Posted in Monetary Policy