Author Archives: John Taylor
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
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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
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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
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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
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Favorite Economics April Fools Day Jokes on Twitter
Thanks for a little humor about two of the most important economic topics of the day: monetary policy at the Fed and bankruptcy policy at Tesla. I am sure there are others, but these two are my favorites: Monetary Policy … Continue reading
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Monetary Policy Getting Back on Track
In many ways, the Fed has begun to bring monetary policy back on track as it emphasizes a strategy and the use of monetary policy rules: On January 18 of last year, former Chair Janet Yellen described the Fed’s strategy … Continue reading
Posted in Monetary Policy
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A Better Way to End Big Bank Bailouts
David Skeel and I wrote the following on an important report on bankruptcy reform just released by the U.S. Treasury: Yesterday the U.S. Treasury released its official response to President Trump’s memorandum of last April asking for a review of … Continue reading
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Application Deadline Approaching for Free Public Policy Program
After a very successful launch last summer, Stanford’s Hoover Institution is again offering a one-week public policy boot camp this coming August 19-25. This “residential immersion program” is aimed at college students and recent graduates. It consists of lectures, workshops, informal … Continue reading
Posted in Teaching Economics
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Unique Cooperative Research Effort
This week marks the 20-year anniversary of a “notable conference” on monetary policy as Ed Nelson, who reminded me, puts it. The conference took place at the Cheeca Lodge in the Florida Keys on January 15-17, 1998, and it resulted … Continue reading
Posted in Monetary Policy
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The Fed’s Inflation Target and Policy Rules
The Brookings Institution held an interesting conference yesterday organized by David Wessel on “Should the Fed Stick with the 2 Percent Inflation Target or Rethink It?” Olivier Blanchard and Larry Summers argued, as they have elsewhere, that the Fed should … Continue reading
Posted in Monetary Policy
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Economics One 