Category Archives: Fiscal Policy and Reforms

The End of the Recrudescence of Keynesian Economics

Posted on November 22, 2010 by John Taylor

This past weekend Columbia University hosted a conference on the occasion of the 40th anniversary of the famous Phelps volume on the micro foundations of macroeconomics. In addition to the technical papers, which will eventually be published in a conference … Continue reading →

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Cash for Clunkers in a Macro Context

Posted on October 25, 2010 by John Taylor

More empirical studies are demonstrating that temporary fiscal stimulus actions are a poor way to get the economy moving again on a sustainable basis. More permanent and predictable policies are much better. I demonstrated this problem in the case of … Continue reading →

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The Ryan Roadmap versus the Road to Ruin

Posted on August 8, 2010 by John Taylor

Congressman Paul Ryan’s Roadmap has suddenly become the focal point for debating how America should get its economic house in order. Fred Barnes of the Weekly Standard says to embrace it. Paul Krugman of the New York Times says to … Continue reading →

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The Administration and the IMF on the Multiplier

Posted on May 21, 2010 by John Taylor

In a soon to be published paper, several economists at the International Monetary Fund report estimates of government spending multipliers which are much smaller than those previously reported by the U.S. Administration. In order to obtain the estimates the IMF … Continue reading →

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Greg Mankiw and Homework on Marginal Tax Rates

Posted on November 2, 2009 by John Taylor

In an op-ed in today’s New York Times Harvard’s Greg Mankiw gives a good example of how government transfer programs increase marginal tax rates. He uses the same example assigned to Stanford’s introductory students in their homework last week–the Senate … Continue reading →

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