Author Archives: John Taylor

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

Still Exploding After All These Years

For the past nine years on Independence Day (see here and here for example), I’ve plotted the most recent long-term projection of the federal debt by the Congressional Budget Office as a reminder that it’s as explosive as the Fourth of … Continue reading

Posted in Budget & Debt

What We Wanted We Got: A Debate on the Fed’s Balance Sheet

A big question addressed at this year’s annual Hoover monetary conference was “The Future of the Central Bank Balance Sheet,” including the amount of reserve balances that banks hold at the Fed. The issue is one that “the [Federal Reserve] … Continue reading

Posted in Monetary Policy

Economics 1 Online. Summer 2018. Free.

This summer we will again offer Stanford’s Principles of Economics course online for free.  You can register now for the course on Stanford’s open on-line platform Lagunita. We will start on Monday June 25 and go through August 24. I … Continue reading

Posted in Uncategorized

Still Crazy After All These Years—And What About the Next 50

Yesterday I was talking to a friend in my office about the great benefit to students from writing undergraduate honors theses in their senior year.  I have long advised students to do so, perhaps because of the rewarding experience I … Continue reading

Posted in Monetary Policy, Teaching Economics