Now showing items 21-36 of 36

    • Measuring Money Growth When Financial Markets are Changing 

      Feldstein, Martin; Stock, James (Elsevier Science B.V., Amsterdam, 1996)
      This article considers constructing monetary aggregates in the presence of financial market innovations and changes in the relationship between individual assets and output. We propose two procedures for constructing a ...
    • Potential Paths of Social Security Reform 

      Feldstein, Martin; Samwick, Andrew (MIT Press, 2001)
      This paper presents several alternative Social Security reform options in which the projected level of benefits for every future cohort of retirees is as high or higher than the benefits projected in current law. These ...
    • Prefunding Medicare 

      Feldstein, Martin (American Economic Association, 1999)
      The Medicare program of health care for the aged now costs more than $5,000 per enrollee, a national cost of more than $200 billion a year. The official projections that these costs will rise rapidly from 2.5% of GDP now ...
    • Public Policies and Private Saving in Mexico 

      Feldstein, Martin (México : Departamento de Economía del Centro de Investigación y Docencia Económicas, 1999)
      Increasing the rate of saving is an important priority for many emerging market countries. This paper focuses on Mexico and discusses a variety of policies through which the government of Mexico could stimulate a higher ...
    • Resolving the Global Imbalance: The Dollar and the U.S. Saving Rate 

      Feldstein, Martin (American Economic Association, 2008)
      The massive deficit in the U.S. trade and current accounts is one of the most striking features of the current global economy and, to some observers, one of the most worrying. Although the current account deficit finally ...
    • A Self-Help Guide for Emerging Markets 

      Feldstein, Martin (Council on Foreign Relations, 1999)
      International economic crises will continue to occur in the future as they have for centuries past. The rapid spread of the 1997 crisis in Asia and of the 1982 crisis in Latin America showed how shifts in market perceptions ...
    • Should Social Security Benefits Be Means Tested? 

      Feldstein, Martin (University of Chicago Press, 1987)
      Social-security retirement benefits distort the saving decisions of workers who are rational enough to save for their future. Since the implicit rate of return in an unfunded social-security program is less than the marginal ...
    • Social Security Pension Reform in China 

      Feldstein, Martin (Elsevier Science B.V., Amsterdam, 1999)
      China has legislated a mixed social security pension system with a defined benefit pay-as-you-go portion and an investment-based defined contribution portion. This paper analyses the economics of these two types of systems ...
    • Structural Reform of Social Security 

      Feldstein, Martin (American Economic Association, 2005)
      Governments around the world have enacted or are currently considering fundamental structural reforms of their Social Security pension programs. The key feature in these reforms is a shift from a pure pay-as-you-go ...
    • The Tax Reform Act of 1986: Comment on the 25th Anniversary 

      Feldstein, Martin S. (2011)
      The Tax Reform Act of 1986 was a powerful pro-growth force for the American economy. Equally important, as we look back on it after 25 years, we also see that it taught us two important lessons. First, it showed that ...
    • The Transformation of Public Economics Research: 1970-2000 

      Feldstein, Martin (Elsevier Science B.V., Amsterdam, 2002)
      The nature and content of research and teaching in public economics have changed enormously during the past three decades. The field is more theoretically rigorous, more empirical, more focused on real policy issues, and ...
    • Unemployment Insurance Savings Accounts 

      Feldstein, Martin; Altman, Dan (MIT Press, 2007)
      We examine a system of Unemployment Insurance Saving Accounts (UISAs) as an alternative to the traditional unemployment insurance system. Individuals are required to save up to 4 percent of wages in special accounts and ...
    • What's Next for the Dollar? 

      Feldstein, Martin S. (National Bureau of Economic Research, 2011)
      The real trade weighted value of the dollar fell 11 percent against the Federal Reserve Bank’s index of major currencies during the 12 months through May 2011 and 31 percent during the past ten years. Four strong market ...
    • Why Do Companies Pay Dividends? 

      Feldstein, Martin; Green, Jerry (American Economic Association, 1983)
      This paper presents a simple model of market equilibrium to explain why firms that maximize the value of their shares pay dividends even though the funds could instead be retained and subsequently distributed to shareholders ...
    • Why is Productivity Growing Faster? 

      Feldstein, Martin (Elsevier, 2003)
      Productivity in the United States has been growing faster in the past seven years than it did in the previous quarter century. U.S. productivity growth accelerated while that in Europe declined. This paper asks why U.S. ...
    • Why is the Dollar So High? 

      Feldstein, Martin (Elsevier Science B.V., Amsterdam, 2007)
      The level of the dollar is part of a complex general equilibrium system. Nevertheless, it is helpful to recognize that the high level of the dollar is necessary to generate the current account deficit equal to the difference ...