Brookings Papers on Economic Activity

1970 - 2025

From Economic Studies Program, The Brookings Institution
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Editors' Summary pp. ix-xxxvii: The Editors
From Reunification to Economic Integration: Productivity and the Labor Market in Eastern Germany pp. 1-92: Michael Burda and Jennifer Hunt
The Great Recession: Lessons for Macroeconomic Policy from Japan pp. 93-186: Kenneth Kuttner and Adam Posen
Why Doesn't the United States Have a European-Style Welfare State? pp. 187-278: Alberto Alesina, Edward Glaeser and Bruce Sacerdote
The Consumption Risk of the Stock Market pp. 279-348: Jonathan Parker

Editors' Summary pp. ix-xxxv: The Editors
An Analysis of Russia's 1998 Meltdown: Fundamentals and Market Signals pp. 1-68: Homi Kharas, Brian Pinto and Sergei Ulatov
Does Immigration Grease the Wheels of the Labor Market? pp. 69-134: George Borjas
The Long and Large Decline in U.S. Output Volatility pp. 135-174: Olivier Blanchard and John Simon
The Predictive Power of the Index of Consumer Sentiment pp. 175-216: E. Howrey
Is the U.S. Current Account Deficit Sustainable? Will It Be Sustained? pp. 217-226: Richard N. Cooper
The International Dollar Standard and the Sustainability of the U.S. Current Account Deficit pp. 227-241: Ronald McKinnon
A Portfolio View of the U.S. Current Account Deficit pp. 241-258: Jaume Ventura

Editors' Summary pp. ix-xliv: The Editors
Social Security Reform and National Saving in an Era of Budget Surpluses pp. 1-72: Douglas Elmendorf and Jeffrey Liebman
E-Capital: The Link between the Stock Market and the Labor Market in the 1990s pp. 73-118: Robert Hall
Real Estate and Macroeconomy pp. 119-162: Karl Case
The Economic Consequences of Disappearing Government Debt pp. 163-220: Vincent Reinhart and Brian Sack
Financial Market Implications of the Federal Debt Paydown pp. 221-252: Michael J. Flemming
Tax Smoothing Implications of the Federal Debt Paydown pp. 253-302: George Hall and Stefan Krieger
Local Corruption and Global Capital Flows pp. 303-354: Shang-Jin Wei

Editors' Summary pp. ix-xxxii: The Editors
Near-Rational Wage and Price Setting and the Long-Run Phillips Curve pp. 1-60: George Akerlof, William T. Dickens and George Perry
The Stock Market and Investment in the New Economy: Some Tangible Facts and Intangible Fictions pp. 61-124: Stephen R. Bond and Jason G. Cummins
Raising the Speed Limit: U.S. Economic Growth in the Information Age pp. 125-236: Dale Jorgenson and Kevin Stiroh
Roots of the Recent Recoveries: Labor Reforms or Private Sector Forces? pp. 237-311: Jean-Paul Fitoussi, David Jestaz, Edmund Phelps and Gylfi Zoega

Editors' Summary pp. ix-xxxii: The Editors
Evidence on the High-Income Laffer Curve from Six Decades of Tax Reform pp. 1-64: Austan Goolsbee
The Adequacy of Retirement Saving pp. 65-188: Eric M. Engen, William Gale and Cori R. Uccello
Aggregate demand and Long-Run Unemployment pp. 189-252: Laurence Ball
Financial Crises in the 1890s and the 1990s: Must History Repeat pp. 253-294: J. Bradford Delong
Stability, Asymmetry, and Discontinuity: The Launch of European Monetary Union pp. 295-372: Giancarlo Corsetti and Paolo Pesenti

Editors' Summary pp. ix-xxxiii: The Editors
The High-Pressure U.S. Labor Market of the 1990s pp. 1-88: Lawrence Katz and Alan Krueger
Should Capital Controls be Banished? pp. 89-142: Richard N. Cooper
Capital Flows to Developing Economies: Implications for Saving and Investment pp. 143-180: Barry Bosworth and Susan M. Collins
Perspectives on the Household Saving Rate pp. 181-224: William Gale and John Sabelhaus
Should We Fear Deflation? pp. 225-252: J. Bradford DeLong

Editors' Summary pp. ix-xxxix: The Editors
Economic Crises: Evidence and Insights from East Asia pp. 1-136: Jason Furman and Joseph Stiglitz
It's Baaack: Japan's Slump and the Return of the Liquidity Trap pp. 137-206: Paul Krugman
Geography, Demography, and Economic Growth in Africa pp. 207-296: David Bloom and Jeffrey D. Sachs
Foundations of the Goldilocks Economy: Supply Shocks and the Time-Varying NAIRU pp. 297-346: Robert Gordon
Japan's Financial Problems pp. 347-385: Edward J. Lincoln

Summary of the Papers pp. ix-xvi: Peter C. Reiss
Product and Stock Market Responses to Automotive Prodct Liability Verdicts pp. 1-53: Steven Garber and John Adams
The Distribution of the Insurance Market Effects of Tort Liability Reforms pp. 55-105: Patricia H. Born and W Viscusi
The Link between Liability Reforms and Productivity: Some Empirical Evidence pp. 107-148: Thomas J. Campbell, Daniel P. Kessler and George B. Shepherd
What Drives Venture Capital Fundraising? pp. 149-204: Paul Gompers and Josh Lerner
Capital's Contribution to Productivity and the Nature of Competition pp. 205-248: Axel Boersch-Supan
Extending the East Asian Miracle: Microeconomic Evidence from Korea pp. 249-321: Martin Neil Baily and Eric Zitzewitz
The Tobacco Deal pp. 323-394: Jeremy Bulow and Paul Klemperer

Editors' Summary pp. ix-xxxv: The Editors
The East Asian Financial Crisis: Diagnosis, Remedies, Prospects pp. 1-90: Steven Radelet and Jeffrey D. Sachs
Self-Control and Saving for Retirement pp. 91-196: David Laibson, Andrea Repetto and Jeremy Tobacman
The Political Economy of Fiscal Adjustments pp. 197-266: Alberto Alesina, Roberto Perotti and Jose Tavares
The Wealth Dynamics of American Families, 1984-94 pp. 267-338: Erik Hurst, Ming-Ching Luoh and Frank Stafford
Hours Reductions as Work-Sharing pp. 339-381: Jennifer Hunt