An increase in the relative price of products from the low wage manufacturers in Asia and Latin America will also make those products less attractive to American consumers. Martin Feldstein americaamericanasia Change image and share on social
We are particularly poor at the open economy issues. Martin Feldstein economyissueopen Change image and share on social
Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work. Martin Feldstein crowddemandgovernment share on social
The good news is that a competitive dollar in the global market and a strong dollar at home are compatible in both the long run and during the transition to a more competitive dollar. Martin Feldstein compatiblecompetitivedollar Change image and share on social
My theme this evening is that America needs a competitive dollar. Martin Feldstein americacompetitivedollar Change image and share on social
And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets. Martin Feldstein artdependfeel Change image and share on social
So just as I want pilots on the planes that I fly, when it comes to monetary policy, I want to think that there is someone with sound judgement at the controls. Martin Feldstein controlflyjudgement Change image and share on social
First, I think the science of monetary economics has clearly gotten better. Martin Feldstein economicsmonetaryscience Change image and share on social
Inflation is lower and more stable and the real business cycle fluctuations are more modest. Martin Feldstein businesscyclefluctuation Change image and share on social
But then in April of 1985 the dollar began a sharp decline. The dollar's trade weighted value fell 23 percent in just 12 months and by a total of 37 percent by the beginning of 1988. Martin Feldstein aprilbegindecline Change image and share on social
