fiscal reform that sets the U.S. federal budget on a path towards being balanced. He cautioned that the Fed should move away from quantitative easing measures and keep to a more static, stable monetary policy. He also criticized fellow economist Paul Krugman's advocacy of additional stimulus programs from Congress, which Taylor said will not help in the long run. In his 2012 book First Principles: Five Keys to Restoring America’s Prosperity, he endeavors to explain why these reforms are part of a broader set of principles of economic freedom. Selected publications Reprinted in Pdf. Taylor, John B. (1986), 'New econometric approaches to stabilization policy in stochastic models of macroeconomic fluctuations'. Ch. 34 of Handbook of Econometrics, vol. 3, Z. Griliches and M.D. Intriligator, eds. Elsevier Science Publishers. Pdf. See also Members of the Hoover Institution Members of Stanford University's Economics Department Further reading PDF. References External links Taylor's Official Web Site Taylor's blog Stanford Economics Faculty Profile Conference to celebrate the tenth anniversary of the Taylor rule proposal Fed Conference on John Taylor’s Contributions to Monetary Theory and Policy 1946 births Economists from New York (state) Fellows of the Econometric Society George W. Bush administration personnel Hoover Institution people Living people Monetary economists New Keynesian economists People from Yonkers, New York Princeton University alumni Shady Side Academy alumni Stanford University alumni Stanford University Department of Economics faculty Columbia University faculty United States Department of the Treasury officials Mackinac Center for Public Policy 21st-century American economists United States Council of Economic Advisers Member of the Mont Pelerin Society Fellows of the American Physical Society