Martin Feldstein, Clark Medalist 1977

Citation on the Occasion of the Presentation of the Medal

The John Bates Clark medal of the American Economic Association is awarded biennially "to that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge.'" Martin S. Feldstein has made many significant contributions, covering an astonishing array of economic methods and problems. His work spans a multidimensional spectrum embracing concrete policy issues, applied econometrics, statistical methods for econometrics, and economic theory. He pioneered in the economics of medical and hospital care. He has gone on to solve problems in benefit-cost analysis, public investment, taxation, social security, time preference and interest rates, asset holding under uncertainty, charitable donations, bequests, production functions, labor supply, unemployment, and inflation. The John Bates Clark medal is presented to Martin S. Feldstein for the high quality and extraordinary quantity and diversity of his achievements.