Brookings Papers on Economic Activity 1: 2003

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.

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Contents include:

Editors’ Summary (Full Text)

Debt Intolerance (Abstract)
Carmen M. Reinhart (International Monetary Fund), Kenneth S. Rogoff (International Monetary Fund), and Miguel A. Savastano (International Monetary Fund)

Fiscal Policy, Past and Present (Abstract)
Alan J. Auerbach (University of California, Berkeley)

The Zero Bound on Interest Rates and Optimal Monetary Policy (Abstract)
Gauti B. Eggertsson (International Monetary Fund) and Michael Woodford (Princeton University)

Policy Evaluation in Uncertain Economic Environments (Abstract)
William A. Brock (University of Wisconsin), Steven N. Durlauf (University of Wisconsin), and Kenneth D. West (University of Wisconsin)

REPORT: Did Pension Plan Accounting Contribute to a Stock Market Bubble? (Abstract)
Julia Lynn Coronado (Federal Reserve Board) and Steven A. Sharpe (Federal Reserve Board)