Robert E. Hall is the Robert and Carole McNeil Joint Hoover Senior Fellow and Professor of Economics at Stanford University. He has made many seminal contributions to macroeconomics, including a rational-expectations theory of consumption, a treatment of the role of productivity shocks in real business cycle theory, and a micro-based theory of sticky wages. In addition, he is the co-author with Alvin Rabushka of The Flat Tax, which laid out a highly influential proposal for a consumption-based tax system.