About the Author

Lee E. Ohanian is a professor of economics and director of the Ettinger Family Program in Macroeconomic Research at the University of California, Los Angeles, and a senior fellow at the Hoover Institution.

John B. Taylor is the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University.

Ian J. Wright is a PhD student in the Department of Economics at Stanford University and a recipient of the Shultz Graduate Student Fellowship in Economic Policy.