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Brookings Papers on Economic Activity: Spring 2012

By ; Edited by David H. Romer and Justin Wolfers

Contents • Democratic Change in the Arab World, Past and Present Eric Chaney (Harvard University) • Disentangling the Channels of the 2007–2009 Recession James Stock (Harvard University) and Mark Watson (Princeton University) • Macroeconomic Effects of FOMC Forward Guidance Jeffrey Campbell, Charles Evans, Jonas Fisher, and Alejandro Justiniano (Federal Reserve Bank of Chicago) • Is the Debt Overhang Holding Back Consumption? Karen Dynan (Brookings Institution) • The Euro’s Three Crises Jay Shambaugh (Georgetown University) • Fiscal Policy in a Depressed Economy J. Bradford DeLong (University of California–Berkeley) and Lawrence Summers (Harvard University )

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