Brookings Papers on Economic Activity 1:2005

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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:

Editors' Summary (Full Text)

International Investors, the U.S. Current Account, and the Dollar (Abstract)
by Olivier Blanchard (Massachusetts Institute of Technology), Francesco Giavazzi (Universitá Commerciale Luigi Bocconi), and Filipa Sa (Massachusetts Institute of Technology)

Global Current Account Imbalances and Exchange Rate Adjustments (Abstract)
by Maurice Obstfeld (University of California, Berkeley) and Kenneth S. Rogoff (Harvard University)

Is It 1958 or 1968? Three Notes on the Longevity of the Revived Bretton Woods System (Abstract)
by Michael Dooley (University of California, Santa Cruz) and Peter Garber (Deutsche Bank)

Is the U.S. Current Account Deficit Sustainable? If Not, How Costly Is Adjustment Likely to Be? (Abstract)
by Sebastian Edwards (University of California, Los Angeles)

Asset Returns and Economic Growth (Abstract)
by Dean Baker (Center for Economic and Policy Research), J. Bradford Delong (University of California, Berkeley), and Paul R. Krugman (Princeton University)