Martin Feldstein Quotes & Quotations
   

 
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Martin Feldstein quotes, biographies & pictures.
Martin Feldstein
 
Date of birth: 25 November 1939
Date of death: Alive (or unknown)
Country Of Origin: America
Profession:

Economist

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Approached topics: dollar grow growth judgement

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Martin Feldstein quotes

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Martin Feldstein quotes
" 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
" A second reason why science cannot replace judgement is the behavior of financial markets. "

Martin Feldstein
" 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 and euros than they would if the dollar were more competitive. "

Martin Feldstein
" 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 much the dollar must change to bring about any given reduction in our trade deficit. "

Martin Feldstein
" 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
" 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
" And when the dollar decline makes foreign travel much more expensive, I will do more of my vacation traveling in the United States. "

Martin Feldstein
" 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 dollar without the adverse effects that followed currency declines in other countries. "

Martin Feldstein
" 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 this year and in 2007 to sustain the economy's current pace of expansion. "

Martin Feldstein
" 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
" But, third, science cannot replace judgement because there are too many things that we simply do not understand. "

Martin Feldstein
" Domestic inflation reflects domestic monetary policy. "

Martin Feldstein
" 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 mean that the increase in aggregate demand from this source may not happen for a year or more. "

Martin Feldstein
" First, I think the science of monetary economics has clearly gotten better. "

Martin Feldstein
" 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 spent on consumer durables, home improvements and the like. "

Martin Feldstein
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