Found 81 article(s) for author 'Martin Feldstein'

We’re Richer Than We Realize

We’re Richer Than We Realize. Martin Feldstein, September 8, 2017, Opinion, “Government statistics paint an excessively grim picture of what is happening to real wages and the growth of real national income. Although most households’ take-home cash has been rising very slowly for decades, their standard of living is increasing more..Link

Tags: , , ,

Does Addressing Bilateral Trade Imbalances Work?

Does Addressing Bilateral Trade Imbalances Work? Martin Feldstein, June 27, 2017, Opinion, “Politicians and economists view trade imbalances very differently. Consider the United States’ trade deficit. Economists emphasize that the total US trade deficit with the rest of the world is the result of policies and actions at home. Simply put, if the US invests more than the country as a whole saves, it must import the difference from the rest of the world, creating the existing trade deficit.” Link

Tags: , ,

No Idea What Trump Means by Reciprocal Tax

No Idea What Trump Means by Reciprocal Tax. Martin Feldstein, May 3, 2017, Video, “Martin Feldstein, professor of economics at Harvard University, discusses his thoughts on tax policy and the Trump administration. He speaks with Bloomberg’s David Westin and Jonathan Ferro on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)” Two Parts –  Link  1 “Reciprocal Tax” Link 2 – “Big Issue is Tax Reform

Tags: , , , , , ,

Inconvenient Truths About the US Trade Deficit

Inconvenient Truths About the US Trade Deficit. Martin Feldstein, April, 25, 2017, Opinion, “The United States has a trade deficit of about $450 billion, or 2.5% of GDP. That means that Americans import $450 billion of goods and services more than they export to the rest of the world. What explains the enormous US deficit year after year, and what would happen to Americans’ standard of living if it were to decline?Link

Tags: , , , ,

Why the U.S. Is Still Richer Than Every Other Large Country

Why the U.S. Is Still Richer Than Every Other Large Country. Martin Feldstein, April 20, 2017, Opinion, “Each year, the United States produces more per person than most other advanced economies. In 2015 real GDP per capita was $56,000 in the United States. The real GDP per capita in that same year was only $47,000 in Germany, $41,000 in France and the United Kingdom, and just $36,000 in Italy, adjusting for purchasing power. In short, the U.S. remains richer than its peers. But why?Link

Tags: , , ,

Underestimating the Real Growth of GDP, Personal Income and Productivity

Underestimating the Real Growth of GDP, Personal Income and Productivity. Martin Feldstein, March 2017, Paper, “The problems involved in estimating real output that I discuss in this paper cause the official government statistics to underestimate of the rates of growth of real GDP, real personal income, and productivity. That underestimation is important not just to economists trying to understand where the economy is going but also to the broader public and to the political system.  The understatement of real growth reflects the enormous difficulty of dealing with quality change and the even greater difficulty of measuring the value created by the introduction of new goods and services. Despite the vast amount of attention that has been devoted to this subject in the economic literature and by the government agencies, there remains insufficient understanding of just how imperfect the official estimates actually are. It is important for economists to recognize the limits of our knowledge and to adjust public statements and policies to what we can know.” Link

Tags: , , ,

Why is Growth better in the United States than in other Industrial Countries

Why is Growth better in the United States than in other Industrial Countries. Martin Feldstein, March 2017, Paper, “Although the official statistics imply that the rate of growth of real GDP in the United States has declined in recent years, it has still been substantially higher than the real growth rates in Europe and the other industrial countries, leading to higher real per capita incomes. This paper discusses ten reasons for the higher rate of real economic growth.Link

Tags: , , , , ,