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Contents include:

  • Robust Monetary Policy Rules with Unknown Natural Rates,
    Ahtnasios Orphanides (Board of Governors, Federal Reserve) and John C. Williams (Federal Reserve Bank of San Francisco)
  • The Role of Models and Probabilities in the Monetary Policy Process
    Christopher Sims (Princeton)
  • Current Account Deficits in the Euro Area: The End of the Feldstein Horioka Puzzle?
    Olivier Blanchard (MIT) and Francesco Giavazzi (Bocconi University)
  • Productivity Growth and the New Economy
    William D. Nordhaus (Yale)