Found 82 article(s) for author 'Martin Feldstein'

The Fed’s Systemic-Risk Balancing Act

The Fed’s Systemic-Risk Balancing Act. Martin Feldstein, August 11, 2014, Opinion. “The Federal Reserve Board of Governors recently warned of the possibility of excesses in asset markets but concluded that, at least for now, if there is a need to act it will not be done by raising interest rates but by relying on “macroprudential” policy tools to reduce systemic risk. We are not expressing a view on whether there are current financial excesses that are potentially destabilizing—that is always hard to judge—or whether the Fed should raise rates now to deal with such possible risks…” May require purchase or user account. Link

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America’s Move to Faster Growth by Martin Feldstein

America’s Move to Faster Growth. Martin Feldstein, May 28, 2014, Opinion. “Last December, I speculated that GDP growth in the United States would rise in 2014 from the subpar 2% annual rate of the previous four years to about 3%, effectively doubling the per capita growth rate. Now that the US economy is past the impact of the terrible weather during the first months of the year, output appears to be on track to grow at a healthy pace. The primary driver of this year’s faster GDP growth is the $10 trillion rise in household wealth that occurred in 2013. According to the Federal Reserve, that increase reflected a…” Link verified August 21, 2014

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Piketty’s Numbers Don’t Add Up

Piketty’s Numbers Don’t Add Up. Martin Feldstein, May 14, 2014, Opinion. “Thomas Piketty has recently attracted widespread attention for his claim that capitalism will now lead inexorably to an increasing inequality of income and wealth unless there are radical changes in taxation…..” May require purchase or user account. Link verified August 26, 2014

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A weaker Euro for a stronger Europe

A weaker Euro for a stronger Europe. Martin Feldstein, May 2, 2014, Opinion. “Despite the recent upturn in some of its member countries, the eurozone’s economy remains in the doldrums, with the overall rate of annual GDP growth this year likely to be only slightly higher than 1%. Even Germany’s growth rate is below 2%, while GDP is still declining in France, Italy, and Spain. And this slow rate of growth has kept the eurozone’s total unemployment rate at a painfully high 12%…” Link

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Harvard Professor Martin Feldstein : A Healthy Path To Chinese Consumption Growth

Harvard Professor Martin Feldstein : A Healthy Path To Chinese Consumption Growth. Martin Feldstein, March 31, 2014, Opinion. “China’s economic policymakers want to shift the country’s production away from exports and heavy industry, and to increase the share of consumption in GDP. A relatively simple institutional change to encourage health-care insurance could do much to promote the latter goal…” Link verified June 19, 2014

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Harvard Professor Martin Feldstein : The Future of American Growth

Harvard Professor Martin Feldstein: The Future of American Growth. Martin Feldstein, January 31, 2014, Opinion. “The near-term outlook for the US economy has improved, owing to the sharp increase in household wealth in 2013, together with the end of the fiscal drag caused by the increase in tax rates in 2012. The United States now has a chance to raise real (inflation-adjusted)per capita GDP faster than the feeble 1.7% average rate recorded during the four years since growth resumed in the summer of 2009. Of course, significantly faster GDP growth in 2014 is not guaranteed. For starters, achieving it requires overcoming the negative impact…”  Link verified March 28, 2014

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Harvard Professor Martin Feldstein : Looking Up in 2014?

Harvard Professor Martin Feldstein : Looking Up in 2014?. Martin Feldstein, December 31, 2013, Opinion. “For the past six years, I have been skeptical about the standard optimistic forecasts of the pace of US economic growth in the year ahead. Where most forecasters and policy officials saw green shoots and reasons for confidence, I saw strong headwinds that would cause an economic downturn and then a subpar recovery. But I think the evidence for 2014 is more balanced. Although there are serious risks facing the US economy in the coming year, there is also a good chance that growth will be substantially stronger than it has been since before the recession began…” Link verified April 3, 2014

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Saving the Fed From Itself

Saving the Fed From Itself. Martin Feldstein, December 8, 2013, Opinion. “The Federal Reserve is pursuing a very risky monetary policy. Its leaders — the departing chairman, Ben S. Bernanke, and the vice chairwoman, Janet L. Yellen, whom President Obama has nominated to succeed him — are correct that the American economy needs more stimulus, and they believe that the central bank, because of political paralysis, is the only game in town. But if Congress and the Obama administration could agree on a fiscal stimulus that goes beyond a short-term budget deal, the Fed would not have to take such risks…” Link verified April 3, 2014

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The Greek Budget Myth

The Greek Budget Myth. Martin Feldstein, November 27, 2013, Opinion. “Recently, newspaper headlines declared that Greece would have a balanced budget for 2013 as a whole. The news came as quite a shock: Recall that when Greek officials came clean about the true state of their country’s public finances in 2010, the budget deficit was more than 10% of GDP – a moment of statistical honesty that triggered the eurozone debt crisis. It seemed too good to be true that the Greek deficit would be completely eliminated in just three years. In fact, it is too good to be true. Any reader who went beyond the headlines soon discovered that the prediction of a zero budget deficit was in fact misleading…” Link verified March 28, 2014

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