About the Author

Robert E. Hall received his B.A. from the University of California, Berkeley, and his Ph.D. from the Massachusetts Institute of Technology. He taught at Berkeley and at MIT before going to Stanford. Along with his research and teaching interests, Professor Hall is chairman of the Business Cycles Dating Committee of the National Bureau for Economic Research, which maintains the official chronology of the U.S. business cycle.
John B. Taylor is the Raymond Professor of Economics at Stanford University and the George Shultz Senior Fellow at Stanford’s Hoover Institution. He was Treasury Under Secretary for International Affairs from 2001 to 2005.