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
February 20, 2013
"A Simple Route to Major Deficit Reduction"
Op-Ed, Wall Street Journal
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
January 2, 2013
"The Fed's Dangerous Direction"
Op-Ed, Wall Street Journal
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
The Federal Reserve is heading in the wrong direction. What the central bank describes as "unconventional monetary policy" is creating dangerous bubbles in asset markets that will lead to higher future inflation and is supporting the explosive growth of the national debt. Its new "communications strategy" will, moreover, only further confuse markets.
December 11, 2012
"The Tax Hike Canard"
Op-Ed, Foreign Affairs
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
"The wrong way to get that extra revenue is to go over the fiscal cliff, which would cause tax rates on personal earnings, dividends, capital gains, and corporations to rise," writes Martin Feldstein. "When combined with the mandatory spending sequester scheduled to be implemented in 2013, demand next year could fall by a total of $600 billion -- about four percent of GDP -- and by larger sums after that. The Congressional Budget Office rightly predicts that would push the economy into a new recession."
September 28, 2012
"Fed joins ECB in a high-risk move"
Op-Ed, Financial Times
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
The Federal Reserve has now embarked on a very dangerous strategy, buying $40bn of mortgage-backed securities each month for an indefinite number of years. That could lead to high inflation, to destabilising asset bubbles and to legislative changes that limit the Fed’s future powers.
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.
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.
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.
AP Photo
October 24, 2011
"The Tax Reform Evidence from 1986"
Op-Ed, Wall Street Journal
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
Experience implies that the combination of base broadening and rate reduction would raise revenue equal to about 4% of existing tax revenue writes Martin Feldstein.
October 13, 2011
"How to Stop the Drop in Home Values"
Op-Ed, New York Times
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
"Both the Obama administration and Republican leaders in Congress have resisted the only real solution: permanently reducing the mortgage debt hanging over America," writes Martin Feldstein. The resistance is understandable, he says, "But failure to act means that further declines in home prices will continue, preventing the rise in consumer spending needed for recovery. As costly as it will be to permanently write down mortgages, it will be even costlier to do nothing and run the risk of another recession."
(AP photo)
May 5, 2011
"Raise Taxes, but Not Tax Rates"
Op-Ed, New York Times
By Martin Feldstein, George F. Baker Professor of Economics at Harvard University
Reducing the budget deficit and stopping the explosion of our national debt will require more tax revenue as well as reduced government spending. But the need for more revenue needn’t mean higher tax rates.
