Brookings Papers on Economic Activity: Fall 2011

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.

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Contents:

• Recessions and the Costs of Job Loss

Steve Davis (University of Chicago) and Til von Wachter (Columbia University)

• What Do Small Businesses Do?

Erik Hurst and Benjamin Wild Pugsley (University of Chicago)

• Unemployment Insurance and Job Search in the Great Recession

Jesse Rothstein (University of California–Berkeley)

• The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy

Arvind Krishnamurthy and Annette Vissing-Jorgenson (Northwestern University)

• Practical Monetary Policy: Examples from Sweden and the United States

Lars E. O. Svensson (Sveriges Riksbank)

• The Labor Market in the Great Recession—An Update to September 2011

Michael. W. L. Elsby (University of Edinburgh), Bart Hobijn (Federal Reserve Bank of San Francisco), Aysegül Sahïn (Federal Reserve Bank of New York), and Robert B. Valletta (Federal Reserve Bank of San Francisco)

• The Income- and Expenditure-Side Estimates of U.S. Output Growth—An Update to 2011Q2

Jeremy J. Nalewaik (Board of Governors of the Federal Reserve System)

David H. Romer is the Herman Royer Professor of Political Economy. He joined the Berkeley faculty in 1988 and was promoted to full professor in 1993. Professor Romer is co-director of the Program in Monetary Economics at the National Bureau of Economic Research. Justin Wolfers, Ph.D., is an Associate Professor of Business and Public Policy at The Wharton School of the University of Pennsylvania.