Martin Feldstein
George F. Baker Professor of Economics at Harvard University
Member of the Board, Belfer Center for Science and International Affairs
Contact:
Telephone: 617-868-3900
Email: mfeldstein@harvard.edu
Website: http://www.nber.org/feldstein
July 25, 2012
"A Rapid Fall In The Euro Can Save Spain From Collapse"
Op-Ed, Financial Times
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
"The possible breakup of the eurozone is now openly discussed by policy officials and financial executives. The interest rate on Spanish government debt has soared above 7 per cent...Greece is likely to fail its inspection by the 'troika', bringing it closer to a eurozone exit by the autumn [and} even Germany is under financial pressure," writes the Belfer Center Board member Martin Feldstein, "The last eurozone summit ended with an optimistic communiqué but nothing of substance. Meanwhile, financial markets may already be in the process of forcing a solution upon Brussels policy makers. The declining value of the euro holds the key to the eurozone’s survival."
April 30, 2012
"Time for householders to buy bonds and save Spain"
Op-Ed, Financial Times
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
Spain is rapidly approaching a liquidity impasse. Markets are nervous because it is not clear how the government will finance its budget deficit and the rollover of its maturing bonds. The budget deficit now stands at 5 per cent of gross domestic product and the bonds maturing in 2012 equal a further 15 per cent of GDP. The International Monetary Fund expects these large deficits and refinancing needs to continue for several years.
April 29, 2012
"The Economy and the Presidency"
Op-Ed, Project Syndicate
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
With the U.S. presidential election a mere six-months away, it's outcome will largely depend on how the economy performs between now and election day, and the public's perception of that performance, writes Martin Feldstein, the George F. Baker Professor of Economics at Harvard University and Belfer Center Board member. "The polls are very close, and voters have not yet locked in their decisions....but the state of the economy is usually the most important determinant of who wins national elections in the United States. And US economic conditions now favor Romney," he writes.
April 24, 2012
"Everyone Should Pay for Cyber Defense"
Op-Ed, Wall Street Journal
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
The United States is vulnerable to cyberattacks by unfriendly nations and nonstate actors. Attacks through the Internet are now stealing billions of dollars of intellectual property from American businesses. Internet attacks can also bring down such critical infrastructure as the electricity supply, the air-traffic system and the stock market. Congress can and should act to protect us from this widespread and increasing danger.
April 5, 2012
"Europe Needs the Bond Vigilantes"
Op-Ed, Wall Street Journal
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
Spain's disappointing government-bond auction this week is a sign of things to come: If Europe's debt-bound governments won't get their fiscal houses in order, the bond vigilantes will descend, pressuring them to do so.
March 20, 2012
"Obama tax rises threaten US recovery"
Op-Ed, Financial Times
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
The recent payroll gains and the declining unemployment rate in the US have raised hopes that the economy will now start growing faster than the tepid 1.7 per cent rate last year. Optimists are expecting growth rates as high as three per cent for this year and next.
December 20, 2011
"A Weak Euro is the Way Forward"
Op-Ed, Financial Times
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
The large current account deficits of Italy, Spain and France can be reduced without lowering their incomes or requiring Germany to accept inflationary increases in its domestic demand. The key is to expand the net exports of those trade deficit countries to the world outside the eurozone.
December 15, 2011
"The Euro Zone's Double Failure"
Op-Ed, Wall Street Journal
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
Martin Feldstetin, former chairman of the Council of Economic Advisers, weighs in on the euro's swift descent.
November 30, 2011
"Italy can save itself and the euro"
Op-Ed, Financial Times
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
Harvard University economics professor Martin Feldstein argues that Italy is capable of bailing themselves out of the economic crisis without the EC's help.
October 26, 2011
"The Effect on the U.S. Economy of Changes in Defense Spending"
Testimony
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
Martin Feldstein testifies on defense spending to the Committee on Armed Services of the U.S. House of Representatives.
