Dr. Feltenstein's primary fields of research are public economics and applied general equilibrium, while his current interests involve the analysis of financial assets in the context of banking and macroeconomic reform in developing countries. He has worked as a consultant for the International Monetary Fund, the World Bank, the Asian Development Bank, the UNDP, the Monetary Authority of Singapore, the African Economic Research Consortium, and the Ministry of Finance of China. As part of this consulting work he has carried out research on a variety of countries including China, Singapore, Bangladesh, Pakistan, Mexico, Ecuador, Ethiopia, Tanzania, Uganda, and Australia.
He has published in a wide variety of journals and books, including Journal of Public Economics, Journal of Development Economics, Journal of Money, Credit and Banking, Review of Economic Studies, Journal of International Economics, and Journal of International Money and Finance. His most recent work is on the impact of fiscal decentralization on the macro-economy of China, on bank panics and mitigating policies, applied to Mexico, Bangladesh, and China, on macro stabilization in Uganda and Tanzania, on trade reform in the ASEAN countries, and on taxation and the underground economy, applied to Russia and Pakistan.