Brookings Papers on Economic Activity 2001:1

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: “An Analysis of Russia’s 1998 Meltdown: Fundamentals and Market Signals” by Homi Kharas, Brian Pinto, and Sergei Ulataov “Does Immigration Grease the Wheels of the Labor Market?” by George Borjas Reports “The Long and Large Decline in U.S. Output Volatility” by Olivier Blanchard and John Simon “The Predictive Power of the Index of Consumer Sentiment” by E. Philip Howrey Symposium on the U.S. Current Account “Is the U.S. Current Account Deficit Sustainable? Will It Be Sustained?” by Richard N. Cooper “The International Dollar Standard and the Sustainability of the U.S. Current Account Deficit” by Ronald I. McKinnon “A Portfolio View of the U.S. Current Account Deficit” by Jaume Ventura

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.