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.
More Quotes from Martin Feldstein:
We pay some price when necessary to bring down inflation but that price is temporary and is not large relative to the permanent gain from reduced inflation.Martin Feldstein
I think that over the last few decades, we have seen better economic outcomes than in the past.
Martin Feldstein
Why has this improvement in inflation and in the business cycle occurred I think the answer is better monetary policy, better central banking.
Martin Feldstein
The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit.
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
Domestic inflation reflects domestic monetary policy.
Martin Feldstein
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Based on Topics: Business & Commerce QuotesBased on Keywords: aggregate, contributes, long-run, output, temporarily
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