A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output. — Martin Feldstein Copy Share Image
In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation… — Martin Feldstein Copy Share
The more competitive value of the dollar turned around the trade deficit. — Martin Feldstein Copy Share
Inflation is lower and more stable and the real business cycle fluctuations are more modest. — Martin Feldstein Copy Share
Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out… — Martin Feldstein Copy Share
I think that over the last few decades, we have seen better economic outcomes than in the past. — Martin Feldstein Copy Share
And finally, no matter how good the science gets, there are problems that inevitably depend on judgment, on art, on a feel for financial… — Martin Feldstein Copy Share
Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high… — Martin Feldstein Copy Share
Even if the dollar does decline during the coming months, the delays in the response of exports and imports to the more competitive dollar… — Martin Feldstein Copy Share
First, I think the science of monetary economics has clearly gotten better. — Martin Feldstein Copy Share
But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more… — Martin Feldstein Copy Share
To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and… — Martin Feldstein Copy Share
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… — Martin Feldstein Copy Share
We pay some price when necessary to bring down inflation but that price is temporary and is not large relative to the permanent gain… — Martin Feldstein Copy Share
A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to… — Martin Feldstein Copy Share
