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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

 

2010 (continued)

(AP Photo/Mark Lennihan)

November 18, 2010

"The Deficit Dilemma and Obama's Budget"

Op-Ed, Wall Street Journal

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

"The stubbornly high unemployment rate is our economy's top problem today, but our exploding national debt is the more serious problem for the future," writes Martin Feldstein. "The recent proposal by Erskine Bowles and Alan Simpson, the chairmen of the bipartisan National Commission on Fiscal Responsibility and Reform, shows how difficult it will be to cut deficits and slow the growth of the national debt."

 

 

(AP Photo)

October 1, 2010

"Japan's Savings Crisis"

Op-Ed, Daily News Egypt

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

George F. Baker Professor of Economics at Harvard University, Martin Feldstein, writes: The potential future clash between larger fiscal deficits and a low household saving rate could have powerful negative effects on both Japan and the global economy.

 

 

May 18, 2010

"For a Solution to the Euro Crisis, Look to the States"

Op-Ed, The Washington Post

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

"Although the 50 states share a currency and each sets its own spending and tax policies, state deficits remain very low. Even California has a deficit of only about 1 percent of the state's GDP and total general obligation debt of less than 4 percent of state GDP. The basic reason for these small deficits is that each state's constitution prohibits borrowing for operating purposes. States can issue debt to finance infrastructure but not salaries, services, transfer payments or other operating expenses."

 

 

AP Photo

May 18, 2010

"For a solution to the euro crisis, look to the states"

Op-Ed, The Washington Post

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

The Greek budget crisis has made it clear that something must be done to limit fiscal deficits in eurozone countries. The attempt to do so with the group's Stability and Growth Pact has failed. Although the pact "requires" all eurozone countries to keep deficits below 3 percent of gross domestic product, not one of the 16 members is in compliance. The average deficit of the eurozone countries exceeds 7 percent of GDP. Something new is needed.

 

 

AP Photo

May 12, 2010

"Extend the Bush Tax Cuts—For Now"

Op-Ed, Wall Street Journal

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

"Congress should move quickly to reassure taxpayers and financial markets that the current tax rates will be preserved for two years but that further tax cuts will depend on the future fiscal outlook."

 

 

AP Photo

April 28, 2010

"Why Greece Will Default"

Op-Ed, Project Syndicate

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

"The only way that Greece could avoid a default would be by cutting its future annual budget deficits to a level that foreign and domestic investors would be willing to finance on a voluntary basis. At a minimum, that would mean reducing the deficit to a level that stops the rise in the debt-to-GDP ratio."

 

 

AP Photo

March 30, 2010

"The Euro Has Reason to Strengthen"

Op-Ed, The Korea Herald

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

"An American traveler in Paris or Berlin is continually struck by how high prices are relative to those in the United States. A hotel room, a simple lunch, or a man's shirt all cost more at today's exchange rate than they would in New York or Chicago. To bring the cost of those goods and services down to the level in the U.S. would require the euro to fall relative to the dollar by about 15 percent, to around $1.10," says Martin Feldstein.

 

 

February 19, 2010

"How Obama Should Shrink His Deficit"

Op-Ed, Wall Street Journal

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

"Mr. Obama complains about the problems he "inherited." But the key to shrinking the nearer term deficits is to avoid his costly new initiatives. The most expensive of these is the tax cuts and income transfers to low- and middle-income households that would cost some $3.1 trillion over the next decade."

 

 

AP Photo

February 17, 2010

"Let Greece Take a Eurozone ‘Holiday’"

Op-Ed, Financial Times

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

"The rest of the eurozone could allow Greece to take a temporary leave of absence with the right and the obligation to return at a more competitive exchange rate. More specifically, Greece would shift its currency from the euro to the drachma, with an initial exchange rate of one euro to one drachma. Bank balances and obligations would remain in euros. Wages and prices would be set in drachma."

 

 

AP Photo

January 25, 2010

"America's Growth in the Decade Ahead"

Op-Ed, Project Syndicate

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

"Although the strength of the US economy in 2010 is still uncertain, it is important to look ahead to its likely performance in the coming decade. Adding up all the key components of GDP, annual economic growth is likely to be about 1.9%, or roughly the same as the average rate over the past ten years."

 
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.