Martin Feldstein
Martin Stuart Feldstein ( born November 25, 1939 in New York City ) is an American economist. He is currently the George F. Baker Professor of Economics at Harvard University and Chairman of the National Bureau of Economic Research ( NBER ). Feldstein was Chairman of the Council of Economic Advisers and the most important economic adviser to U.S. President Ronald Reagan from 1982 to 1984.
Life
Feldstein received his bachelor's degree from Harvard in 1961 and his Ph.D. from the University of Oxford in 1967 and is since 1969 professor at Harvard. His major works include studies on the effects of PAYG pension systems on aggregate saving. He comes in to the conclusion that PAYG systems have a negative impact on capital formation. Therefore, Feldstein advocates a reform of U.S. pension (Social Security ). His reform proposals were incorporated into the plans of President George W. Bush, providing for the creation of personal retirement accounts. Feldstein's proposals go about it but also because it suggests a complete replacement of the current system of private accounts. The - he argues - allows savers a higher interest rate on their credit and would also increase national saving.
In 1977 John Bates Clark Medal him the American Economic Association was awarded. He is the author of more than 300 research papers and is particularly known for his work in the areas of macroeconomics and econometrics. In addition to his work in numerous companies in partially high-level positions Feldstein is a member of the Trilateral Commission and the American Council on Foreign Relations.