Stanford Institute for Economic Policy Research (SIEPR)
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Mary and Robert Raymond Professor, George P. Shultz Senior Fellow of Economics at the Hoover Institution and Senior Fellow at the Stanford Institute for Economic Policy Research
BioJohn B. Taylor is the Mary and Robert Raymond Professor of Economics at Stanford University and the George P. Shultz Senior Fellow in Economics at the Hoover Institution. He is Director of the Stanford Introductory Economics Center. He formerly served as director of the Stanford Institute for Economic Policy Research, where he is now a senior fellow.
Taylor’s academic fields of expertise are macroeconomics, monetary economics, and international economics. He is known for his research on the foundations of modern monetary theory and policy, which has been applied by central banks and financial market analysts around the world. He has an active interest in public policy. He served as senior economist on the President’s Council of Economic Advisers from 1976 to 1977, as a member of the President’s Council of Economic Advisers from 1989 to 1991. He was also a member of the Congressional Budget Office’s Panel of Economic Advisers from 1995 to 2001. Taylor served as a member of the California Governor’s Council of Economic Advisors from 1996-98 and 2005-10.
For four years from 2001 to 2005, Taylor served as Under Secretary of Treasury for International Affairs where he was responsible for currency markets, trade in financial services, foreign investment, international debt and development, and oversight of the International Monetary Fund and the World Bank. He was also responsible for coordinating financial policy with the G-7 countries, was chair of the OECD working party on international macroeconomics, and was a Member of the Board of the Overseas Private Investment Corporation. His book Global Financial Warriors: The Untold Story of International Finance in the Post-9/11 World chronicles his years as head of the international division at Treasury. His book Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis was one of the first on the financial crisis, and he has since followed up with two books on preventing future crises, co-editing The Road ahead for the Fed and Ending Government Bailouts As We Know Them. His latest book is First Principles: Five Keys to Restoring Americas’ Prosperity, winner of the 2012 Hayek Prize.
In 2010, Taylor received the Bradley Prize from the Bradley Foundation and the Adam Smith Award from the National Association for Business Economics for his work as a researcher, public servant, and teacher. Taylor was awarded the Alexander Hamilton Award for his overall leadership at the U.S. Treasury, the Treasury Distinguished Service Award for designing and implementing the currency reforms in Iraq, and the Medal of the Republic of Uruguay for his work in resolving the 2002 financial crisis. He was awarded the George P. Shultz Distinguished Public Service Award at Stanford, the Hoagland Prize for excellence in undergraduate teaching and the Rhodes Prize for his high teaching ratings in Stanford’s introductory economics course. He also received a Guggenheim Fellowship for his research, and he is a fellow of the American Academy of Arts and Sciences and the Econometric Society; he formerly served as vice president of the American Economic Association.
Previously, Taylor held positions of professor of economics at Princeton University and Columbia University. Taylor received a B.A. in economics summa cum laude from Princeton University in 1968 and a Ph.D. in economics from Stanford University in 1973.
William Bennett Munro Professor of Political Science and Senior Fellow at the Stanford Institute for Economic Policy Research
BioMichael Tomz is the William Bennett Munro Professor in Political Science and Chair of the Department of Political Science at Stanford University. He is also a Senior Fellow at the Stanford Institute for Economic Policy Research, a Senior Fellow at the Stanford Center on Global Poverty and Development, and the Landreth Family University Fellow in Undergraduate Education.
Tomz has published in the fields of international relations, American politics, comparative politics, and statistical methods. He is the author of Reputation and International Cooperation: Sovereign Debt across Three Centuries and numerous articles in political science and economics journals.
Tomz received the International Studies Association’s Karl Deutsch Award, given to a scholar who, within 10 years of earning a Ph.D., has made the most significant contribution to the study of international relations. He has also won the Giovanni Sartori Award for the best book developing or applying qualitative methods; the Jack L. Walker Award for the best article on Political Organizations and Parties; the best paper award from the APSA section on Elections, Public Opinion and Voting Behavior; the best paper award from the APSA section on Experimental Research; and the Okidata Best Research Software Award. His research has been supported by the National Science Foundation.
Tomz has received numerous teaching awards, including the Dean’s Award for Distinguished Teaching and the Cox Medal for Excellence in Fostering Undergraduate Research. In 2017 he received Stanford’s highest teaching honor, the Walter J. Gores Award for Excellence in Teaching. He founded and continues to direct the Summer Research College program for undergraduates in political science.
Tomz holds a Ph.D. from Harvard University; a master’s degree from the University of Oxford, where he was a Marshall Scholar; and an undergraduate degree from Georgetown University. He has been a visiting scholar at the Center for Advanced Study in the Behavioral Sciences, the Federal Reserve Bank of Minneapolis, the Hoover Institution, the Institute for Research in the Social Sciences, and the International Monetary Fund.