NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Martin S. Feldstein

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Working Papers

January 2013Coordination in the European Union
w18672
November 2011The Euro and European Economic Conditions
w17617
October 2011The Tax Reform Act of 1986: Comment on the 25th Anniversary
w17531
July 2011What's Next for the Dollar?
w17260
April 2011Capping Individual Tax Expenditure Benefits
with Daniel Feenberg, Maya MacGuineas: w16921
January 2011The Role of Currency Realignments in Eliminating the US and China Current Account Imbalances
w16674
October 2010Preventing a National Debt Explosion
w16451
January 2010U.S. Growth in the Decade Ahead
w15685
August 2009Economic Conditions and U.S. National Security in the 1930s and Today
w15290
January 2009Rethinking the Role of Fiscal Policy
w14684
Reflections on Americans' Views of the Euro Ex Ante
w14696
April 2008Resolving the Global Imbalance: The Dollar and the U.S. Saving Rate
w13952
Did Wages Reflect Growth in Productivity?
w13953
January 2008Effects of Taxes on Economic Behavior
w13745
Designing Institutions to Deal with Terrorism in the United States
w13729
October 2007Housing, Credit Markets and the Business Cycle
w13471
May 2007Why is the Dollar So High?
w13114
December 2006The Effects of the Ageing European Population on Economic Growth and Budgets: Implications for Immigration and Other Policies
w12736
June 2006Balancing the Goals of Health Care Provision
w12279
May 2006The Effect of Taxes on Efficiency and Growth
w12201
April 2006The 2006 Economic Report of the President: Comment on Chapter One (The Year in Review) and Chapter Six (The Capital Account Surplus)
w12168
December 2005Monetary Policy in a Changing International Environment: The Role of Global Capital Flows
w11856
April 2005The Euro and the Stability Pact
w11249
Rethinking Social Insurance
w11250
February 2005Structural Reform of Social Security
w11098
January 2005Reducing the Risk of Investment-Based Social Security Reform
w11084
September 2003Monetary Policy in an Uncertain Environment
w9969
March 2003Why is Productivity Growing Faster?
w9530
September 2002The Role for Discretionary Fiscal Policy in a Low Interest Rate Environment
w9203
March 2002Economic and Financial Crises in Emerging Market Economies: Overview of Prevention and Management
w8837
November 2001Potential Paths of Social Security Reform
with Andrew Samwick: w8592
September 2001Social Security
with Jeffrey B. Liebman: w8451
The Future of Social Security Pensions in Europe
w8487
May 2001Economic Problems of Ireland in Europe
w8264
January 2001Individual Risk in an Investment-Based Social Security System
with Elena Ranguelova: w8074
September 2000Aspects of Global Economic Intergration: Outlook for the Future
w7899
August 2000Accumulated Pension Collars: A Market Approach to Reducing the Risk of Investment-Based Social Security Reform
with Elena Ranguelova: w7861
June 2000Allocating Payroll Tax Revenue to Personal Retirement Accounts to Maintain Social Security Benefits and the Payroll Tax Rate
with Andrew Samwick: w7767
February 2000The European Central Bank and the Euro: The First Year
w7517
January 2000The Distributional Effects of an Investment-Based Social Security System
with Jeffrey Liebman: w7492
April 1999The Economics of Bequests in Pensions and Social Security
with Elena Ranguelova: w7065
March 1999Maintaining Social Security Benefits and Tax Rates through Personal Retirement Accounts: An Update Based on the 1998 Social Security Trustees Report
with Andrew Samwick: w6540
The Transition to Investment-Based Social Security when Portfolio Returns and Capital Profitability are Uncertain
with Elena Ranguelova, Andrew Samwick: w7016
February 1999Public Policies and Private Saving in Mexico
w6930
January 1999Self-Protection for Emerging Market Economies
w6907
Prefunding Medicare
w6917
December 1998Individual Risk and Intergenerational Risk Sharing in an Investment-Based Social Security Program
with Elena Ranguelova: w6839
Unemployment Insurance Savings Accounts
with Daniel Altman: w6860
November 1998Social Security Pension Reform in China
w6794
October 1998Income Inequality and Poverty
w6770
February 1998The Political Economy of the European Economic and Monetary Union: Political Sources of an Economic Liability
w6150
September 1997Capital Income Taxes and the Benefit of Price Stability
w6200
August 1997Transition to a Fully Funded Pension System: Five Economic Issues
w6149
June 1997The Economics of Prefunding Social Security and Medicare Benefits
with Andrew Samwick: w6055
February 1997Employment Policy of the Middle Reagan Years: What Didn't Happen and Why It Didn't Happen
w5917
January 1997The CEA: From Stabilization to Resource Allocation
w5908
December 1996How Big Should Government Be?
w5868
September 1996The Transition Path in Privatizing Social Security
with Andrew Samwick: w5761
February 1996The Costs and Benefits of Going from Low Inflation to Price Stability
w5469
January 1996The Missing Piece in Policy Analysis: Social Security Reform
w5413
December 1995The Effect of a Consumption Tax on the Rate of Interest
w5397
November 1995The Effect of Increased Tax Rates on Taxable Income and Economic Efficiency: A Preliminary Analysis of the 1993 Tax Rate Increases
with Daniel Feenberg: w5370
September 1995Would Privatizing Social Security Raise Economic Welfare?
w5281
June 1995The Taxation of Two Earner Families
with Daniel Feenberg: w5155
March 1995Social Security and Saving: New Time Series Evidence
w5054
Tax Avoidance and the Deadweight Loss of the Income Tax
w5055
January 1995Behavioral Responses to Tax Rates: Evidence from TRA86
w5000
October 1994Fiscal Policies, Capital Formation, and Capitalism
w4885
Measuring Money Growth When Financial Markets Are Changing
with James H. Stock: w4888
September 1994Tax Policy and International Capital Flows
w4851
A Major Risk Approach to Health Insurance Reform
with Jonathan Gruber: w4852
June 1994Can State Taxes Redistribute Income?
with Marian Vaillant: w4785
March 1994The Effects of Outbound Foreign Direct Investment on the Domestic Capital Stock
w4668
Taxes, Leverage and the National Return on Outbound Foreign Direct Investment
w4689
October 1993The Effect of Marginal Tax Rates on Taxable Income: A Panel Study of the1986 Tax Reform Act
w4496
April 1993Monetary Policy and Inflation in the 1980s: A Personal View
w4322
Tax Policy in the 1980s: A Personal View
w4323
Government Spending and Budget Deficits in the 1980s: A Personal View
w4324
The Dollar and the Trade Deficit in the 1980s: A Personal View
w4325
March 1993The Use of Monetary Aggregate to Target Nominal GDP
with James H. Stock: w4304
December 1992The Recent Failure of U.S. Monetary Policy
w4236
August 1992Social Security Rules and Marginal Tax Rates
with Andrew Samwick: w3962
March 1992The Effects of Tax-Based Saving Incentives on Government Revenue and National Saving
w4021
College Scholarship Rules and Private Saving
w4032
January 1992The Budget and Trade Deficits Aren't Really Twins
w3966
February 1991Reducing the Risk of Economic Crisis
w3620
November 1989International Trade Effects of Value Added Taxation
with Paul Krugman: w3163
National Saving and International Investment
with Philippe Bacchetta: w3164
March 1989Tax Rules and Business Investment
r1142
February 1989Tax Policies For the 1990's: Personal Saving, Business Investment, and Corporate Debt
w2837
The Case Against Trying to Stabilize the Dollar
w2838
1989Budget Deficits, Tax Incentives and Inflation: A Surprising Lesson From The 1983-84 Recovery
with Douglas W. Elmendorf: w2819
Imperfect Annuity Markets, Unintended Bequests, and the Optimal Age Structure of Social Security Benefits
w2820
August 1987Imputing Corporate Tax Liabilities to Individual Taxpayers
w2349
Taxes, Budget Deficits ad Consumer Spending: Some New Evidence
with Douglas W. Elmendorf: w2355
March 1987Should Social Security Benefits Increase with Age?
w2200
1987How Far Has the Dollar Fallen?
with Philippe Bacchetta: w2122
November 1986The Effects of Fiscal Policies When Incomes are Uncertain: A Contradiction to Ricardian Equivalence
w2062
International Debt Service and Economic Growth: Some Simple Analytics
w2076
October 1986New Evidence on the Effects of Exchange Rate Intervention
w2052
July 1986Budget Deficits, Tax Rules, and real Interest Rates
w1970
April 1986The Budget Deficit and the Dollar
w1898
March 1986The Effects of Tax Rules on Nonresidential Fixed Investment: Some Preliminary Evidence from the 1980s
with Joosung Jun: w1857
1986U.S. Budget Deficits and the European Economies: Resolving the Political Economy Puzzle
w1790
The Effect of Federal Tax Deductibility on State and Local Taxes and Spending
with Gilbert Metcalf: w1791
Supply Side Economics: Old Truths and New Claims
w1792
December 1985Should Social Security Be Means Tested?
w1775
The Second Best Theory of Differential Capital Taxation
w1781
November 1984Unemployment Insurance and Reservation Wages
with James M. Poterba: w1011
August 1984Debt and Taxes in the Theory of Public Finance
w1433
Can an Increased Budget Deficit Be Contractionary?
w1434
On the Theory of Optimal Taxation in a Growing Economy
w1435
August 1982The Fiscal Framework of Monetary Policy
w0966
The Welfare Cost of Social Security's Impact on Private Saving
w0969
The Optimal Level of Social Security Benefits
w0970
July 1982Private Pensions as Corporate Debt
w0703
Pension Funding Decisions, Interest Rate Assumptions and Share Prices
with Randall Morck: w0938
Domestic Saving and International Capital Movements in the Long Run and the Short Run
w0947
Are High Income Individuals Better Stock Market Investors?
with Shlomo Yitzhaki: w0948
April 1982Capital Taxation
w0877
October 1981Should Private Pensions Be Indexed?
w0787
September 1981Inflation, Tax Rules, and the Accumulation of Residential and Nonresidential Capital
w0753
August 1981The Effective Tax Rate and the Pretax Rate of Return
with James M. Poterba, Louis Dicks-Mireaux: w0740
May 1981Has the Rate of Investment Fallen?
w0679
Inflation, Capital Taxation, and Monetary Policy
w0680
Alternative Tax Rules and Personal Savings Incentives: Microeconomic Data and Behavioral Simulations
with Daniel Feenberg: w0681
Simulating Nonlinear Tax Rules and Nonstandard Behavior: An Application to the Tax Treatment of Charitable Contributions
with Lawrence B. Lindsey: w0682
March 1981The Effects of Taxation on the Selling of Corporate Stock and the Realization of Capital Gains
with Joel Slemrod, Shlomo Yitzhaki: w0250
November 1980Corporate Financial Policy and Taxation in a Growing Economy
with Jerry Green, Eytan Sheshinski: r0101
The Optimal Taxation of Foreign Source Investment Income
with David G. Hartman: w0193
Personal Taxation, Portfolio Choice and The Effect of the Corporation Income Tax
with Joel Slemrod: w0241
Inflation, Tax Rules, and Investment: Some Econometric Evidence
w0577
Social Security, Induced Retirement, and Aggregate Capital Accumulation:A Correction and Updating
w0579
October 1980Private Pensions and Inflation
w0568
August 1980Inflation, Portfolio Choice, and the Price of Land and Corporate Stock
w0526
July 1980A Contribution to the Theory of tax Expenditures: The Case of CharitableGiving
r0072
State and Local Taxes and the Rate of Return on Nonfinancial Corporate Capital (revised as W0740)
with James M. Poterba: w0508
Pension Funding, Share Prices, and National Saving
with Stephanie Seligman: w0509
May 1980Social Security and Household Wealth Accumulation: New Microeconomic Evidence
with Anthony J. Pellechio: w0206
Social Security Benefits and the Accumulation of Preretirement Wealth
w0477
February 1980The Distribution of the U.S. Capital Stock Between Residential and Industrial Uses
w0448
1980Do Private Pensions Increase National Saving?
w0186
Tax Rules and the Mismanagement of Monetary Policy
w0422
Government Deficits and Aggregate Demand
w0435
December 1979Why Do Companies Pay Dividends?
with Jerry Green: w0413
November 1979Inflation, Tax Rules, and the Stock Market
w0403
October 1979Adjusting Depreciation in an Inflationary Economy: Indexing versus Acceleration
w0395
September 1979Teenage Unemployment: What is the Problem?
with David T. Ellwood: w0393
May 1979International Differences in Social Security and Saving
w0355
April 1979Inflation, Tax Rules, and the Long Term Interest Rates
with Lawrence H. Summers: w0232
Inflation and the Excess Taxation of Capital Gains on Corporate Stock
with Joel Slemrod: w0234
The Effect of Social Security on Saving
w0334
February 1979The Effect of Social Security on Private Savings: The Time Series Evidence
w0314
1979Domestic Savings and International Capital Flows
with Charles Horioka: w0310
Inflation and the Taxation of Capital Income in the Corporate Sector
with Lawrence H. Summers: w0312
November 1978The Effect of Inflation on the Prices of Land And Gold
w0296
August 1978Fiscal Policies, Inflation and Capital Formation
w0275
Inflation and the Stock Market
w0276
July 1978Inflation and the Choice of Asset Life
with Alan J. Auerbach: w0253
Inventory Fluctuations, Temporary Layoffs and the Business Cycle
with Alan J. Auerbach: w0259
December 1977The Private and Social Costs of Unemployment
w0223
November 1977Social Security Wealth: The Impact of Alternative Inflation Adjustments
with Anthony J. Pellechio: w0212
October 1977Local Government Budgeting: The Econometric Comparison of Political and Bureaucratic Models
with Daniel J. Frisch: w0207
September 1977The Welfare Cost of Permanent Inflation and Optimal Short-Run Economic Policy
w0201

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