Brookings Papers on Economic Activity 1:2006

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:

Editors’ Summary (Full Text)

Bubble, Bubble, Where’s the Housing Bubble? (Abstract)
Margaret Hwang Smith and Gary Smith (Pomona College)

The Recent Decline in the Labor Force Participation Rate and Its Implications for Potential Labor Supply (Abstract)
Stephanie Aaronson, Bruce Fallick, Andrew Figura, Jonathan Pingle, and William Wascher (Board of Governors of the Federal Reserve)

Are Successive Generations Getting Wealthier, and If So, Why? Evidence from the 1990s (Abstract)
William G. Gale (Brookings Institution) and Karen M. Pence (Board of Governors of the Federal Reserve)

Reforming the Defined-Benefit Pension System (Abstract)
David W. Wilcox (Board of Governors of the Federal Reserve)

William C. Brainard is professor of economics at Yale University. George L. Perry is a senior fellow in the Economic Studies program at the Brookings Institution.