Monday, October 1, 2007

More on Martin Feldstein

Martin Feldstein announced his resignation as NBER president several days ago. Here is an interview of him published in IMF's Finance and Development three years ago, covering his contributions to public finance, social insurance and macroeconomics, his years as the chairman of the Council of Economic Advisers under Reagan administration, and his 30 years stewardship of "the Bureau" in encouraging economists to do more empirical oriented research. His appearance on the cover of Time magazine in March 1984 confirmed his constant fighting against US budget deficit. He also disapproved of IMF's insistence on structural reforms as a condition for loans, and was pessimistic about the future of Euros which was characterized by him as "at best an act of uncertain merit" and a "costly device to achieve political union."

"Are you working on anything new?" "Sort of...I've been thinking about the economics of national security...I get to go back to all that with new ideas, new data, new techniques. . .", replied by Feldstein.

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