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Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues.

Contents include:

Articles

DAVID M. CUTLER, JAMES M. POTERBA, LOUISE M. SHEINER, and LAWRENCE H. SUMMERS

An Aging Society: Opportunity or Challenge?

DAVID LIPTON and JEFFREY SACHS

Creating a Market Economy in Eastern Europe: The Case of Poland

CHRISTINA D. ROMER and DAVID H. ROMER

New Evidence on the Monetary Transmission Mechanism

Reports

LAURENCE BALL and STEPHEN G. CECCHETTI

Inflation and Uncertainty at Long and Short Horizons

BEN S. BERNANKE, JOHN Y. CAMPBELL and TONI M. WHITED

U.S. Corporate Leverage: Developments in 1987 and 1988

WILLIAM D. NORDHAUS

Soviet Economic Reform: The Longest Road