Martin Feldstein Quotes

30 quotes in 520 categories

• The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our…
• And finally, no matter how good the science gets, there are problems that inevitably depend on judgment, on art, on a feel for financial markets.
• Inflation is lower and more stable and the real business cycle fluctuations are more modest.
• Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was…
• In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or…
• The more competitive value of the dollar turned around the trade deficit.
• 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…
• The price of imported oil in the US doubled between summer 2003 and summer 2005, reducing consumers' purchasing power by more than 1 per cent…
• Unless the trade deficit shrinks, the combination of the trade deficit and the interest and dividend payments to foreigners will grow ever more rapidly.
• 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…
• A second reason why science cannot replace judgement is the behavior of financial markets.
• 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…
• But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive…
• After all, an overvalued dollar gives us the ability to buy foreign goods at lower prices. And the existing volume of exports brings more yen…
• But the primary reason for wanting the dollar to become more competitive in the near future is that we may need an increase in exports…
• Even if the dollar does decline during the coming months, the delays in the response of exports and imports to the more competitive dollar will…
• Although economists have studied the sensitivity of import and export volumes to changes in the exchange rate, there is still much uncertainty about just how…
• Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a…
• We pay some price when necessary to bring down inflation but that price is temporary and is not large relative to the permanent gain from…
• 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…

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