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Economic essays topic

George Shultz Conference Room, Herbert Hoover Memorial Building

Robert E. Hall, Robert and Carole McNeil Joint Hoover Senior Fellow and Professor of Economics at Stanford University, discussed his paper on “Achieving Price Stability by Manipulating the Central Bank's Payment on Reserves,” written jointly with Ricardo Reis of the London School of Economics and Political Science.

George Shultz Conference Room, Herbert Hoover Memorial Building

Tim Kane, JP Conte Fellow in Immigration Studies at Hoover, discussed his research for his forthcoming Hoover Press book, Total Volunteer Force. that offers a blueprint for Pentagon personnel reform, including the Leader/Talent analytical survey and reform ideas for jobmatching, compensation, and performance reviews.

Annenberg Conference Room, Lou Henry Hoover Building

Arthur Brooks, president of the American Enterprise Institute (AEI), gave a talk on “Bringing America Back Together.” He started by arguing that the degree of polarization in America has reached unprecedented proportions. He suggested that institutions such as Hoover and AEI have an intellectual and moral responsibility to advocate the ideas on which they were formed. He believed that if such ideas were applied, the broad-based economic growth that would follow would take America away from the polarized situation it finds itself in right now.

George Shultz Conference Room, Herbert Hoover Memorial Building

Ken Judd, the Paul H. Bauer Senior Fellow at the Hoover Institution, discussed his work on “Optimal Carbon Policy with Business Cycle and Climate Risks” and presented his paper, “The Social Cost of Carbon with Economic and Climate Risks,” joint with joint with Yongyang Cai (Hoover Institution) and Thomas Lontzek (University of Zurich).

Significant gifts for the support of this working group are acknowledged from

  • Lynde and Harry Bradley Foundation
  • Preston and Carolyn Butcher
  • Stephen and Sarah Page Herrick
  • Michael and Rosalind Keiser
  • Koret Foundation
  • William E. Simon Foundation
  • John A. Gunn and Cynthia Fry Gunn

The Working Group on Economic Policy brings together experts on economic and financial policy at the Hoover Institution to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

For twenty-five years starting in the early 1980s, the United States economy experienced an unprecedented economic boom. Economic expansions were stronger and longer than in the past. Recessions were shorter, shallower, and less frequent. GDP doubled and household net worth increased by 250 percent in real terms. Forty-seven million jobs were created.

This quarter-century boom strengthened as its length increased. Productivity growth surged by one full percentage point per year in the United States, creating an additional $9 trillion of goods and services that would never have existed. And the long boom went global with emerging market countries from Asia to Latin America to Africa experiencing the enormous improvements in both economic growth and economic stability.

Economic policies that place greater reliance on the principles of free markets, price stability, and flexibility have been the key to these successes. Recently, however, several powerful new economic forces have begun to change the economic landscape, and these principles are being challenged with far reaching implications for U.S. economic policy, both domestic and international. A financial crisis flared up in 2007 and turned into a severe panic in 2008 leading to the Great Recession. How we interpret and react to these forces—and in particular whether proven policy principles prevail going forward—will determine whether strong economic growth and stability returns and again continues to spread and improve more people’s lives or whether the economy stalls and stagnates.

Our Working Group organizes seminars and conferences, prepares policy papers and other publications, and serves as a resource for policymakers and interested members of the public.

For general questions about the Working Group, please contact John Taylor or his assistant Marie-Christine Slakey at (650) 723-9677. For media inquiries, please contact our office of public affairs.

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