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For almost thirty years, Brookings Papers on Economic Activity (BPEA) has provided academic and business economists, government officials, and members of the financial and business communities with timely research of current economic issues.

Contents Include:

Articles

RUDIGER DORNBUSCH, FEDERICO STURZENEGGER, and HOLGER WOLF

Extreme Inflation: Dynamics and Stabilization

OLIVIER JEAN BLANCHARD and PETER DIAMOND

The Cyclical Behavior of the Gross Flows of U.S. Workers

RANDALL MORCK, ANDREI SHLEIFER, and ROBERT W. VISHNY

The Stock Market and Investment: Is the Market a Sideshow?

ALBERT GIOVANNINI

European Monetary Reform: Progress and Prospects

Reports

DAVID LIPTON and JEFFREY SACHS

Privatization in Eastern Europe: The Case of Poland

ROBERT Z. LAWRENCE

U.S. Current Account Adjustment: An Appraisal