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Martin Feldstein

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) 868-3905
Email: mfeldstein@harvard.edu
Website: http://www.nber.org/feldstein

 

 

By Date

 

2013 (continued)

September 22, 2013

"The Fed Is Wrong To Put Off The Return To Normality"

Op-Ed, Financial Times

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

The US Federal Reserve’s decision last week to delay the start of its so-called “tapering” has confused investors about the reliability of its forward guidance. It has also created a trap that will make it difficult to start the tapering programme in the future unless the Fed changes its basic approach.

 

 

July 1, 2013

"The Fed Should Start to 'Taper' Now"

Op-Ed, Wall Street Journal

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

The Federal Reserve should begin now to end its program of long-term asset purchases, writes Martin Feldstein." It should not wait for the improved labor market that it predicts will come later this year, an improvement that is unlikely to occur. Instead, the Fed should emphasize that the pace of quantitative easing must adjust to the likely effectiveness of the program itself, and to the costs and risks of continuing to buy large quantities of bonds."

 

 

May 9, 2013

"The Federal Reserve's Policy Dead End"

Op-Ed, Wall Street Journal

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

"The Federal Reserve recently announced that it will increase or decrease the size of its monthly bond-buying program in response to changing economic conditions. This amounts to a policy of fine-tuning its quantitative-easing program, a puzzling strategy since the evidence suggests that the program has done little to raise economic growth while saddling the Fed with an enormous balance sheet."

 

 

AP Images

March 13, 2013

It’s Time to Cap Tax Deductions

Op-Ed, The Washington Post

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

Raising revenue without increasing tax rates requires eliminating or reducing the subsidies in the U.S. tax code. Such subsidies, for things as varied as hybrid cars and increased health insurance, are really the government spending through the tax code. That is why they are officially referred to as “tax expenditures.”

 

 

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

 

 

AP Images

January 17, 2013

"The Wrong Growth Strategy for Japan"

Op-Ed, Project Syndicate

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

Japan’s new government, led by Prime Minister Shinzo Abe, could be about to shoot itself in the foot. Seeking to boost economic growth, the authorities may soon destroy their one great advantage: the low rate of interest on government debt and private borrowing. If that happens, Japanese conditions will most likely be worse at the end of Abe’s term than they are today.

 

 

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.

 

2012

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.

 

 

August 29, 2012

"Romney's Tax Plan Can Raise Revenue"

Op-Ed, Wall Street Journal

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

Martin Feldstein, a former economics adviser to President Reagan and member of the Belfer Center's Board of Directors argues in a new Wall Street Journal op-ed that while "Mitt Romney’s plan to cut taxes and offset the resulting revenue loss by limiting tax breaks has been attacked as 'mathematically impossible'....careful analysis shows this is not the case"

 
Events Calendar

We host a busy schedule of events throughout the fall, winter and spring. Past guests include: UN Secretary-General Ban Ki-moon, former Vice President Al Gore, and former Soviet Union President Mikhail Gorbachev.