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“Social Security Reform and National Saving in an Era of Budget Surpluses” by Douglas W. Elmendorf and Jeffrey B. Liebman “E-Capital: The Link between the Stock Market and the Labor Market in the 1990s” by Robert E. Hall “Real Estate and the Macroeconomy” by Karl E. Case “The Economic Consequences of Disappearing Government Debt” by Vincent Reinhart and Brian Sack “Financial Market Implications of the Federal Debt Paydown” by Michael J. Fleming “Tax Smoothing Implications of the Federal Debt Paydown” by George J. Hall and Stefan Krieger
George L. Perry, William C. Brainard
July 30, 1994
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.