Brookings Papers on Economic Activity: Fall 2015

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

The Pitfalls of External Dependence: Greece, 1829–2015
Carmen M. Reinhart and Christoph Trebesch

Is the Greek Crisis One of Supply or Demand?
Yannis M. Ioannides and Christopher Pissarides

Greek Debt Sustainability and Official Crisis Lending
Julian Schumacher and Beatrice Weder di Mauro

Greek Budget Realities: No Easy Options
Christopher L. House and Linda L. Tesar

Weather Adjusting Economic Data
Michael Boldin and Jonathan H. Wright

Inflation Targeting Does Not Anchor Inflation Expectations: Evidence from Firms in New Zealand
Saten Kumar, Hassan Afrouzi, Olivier Coibion, and Yuriy Gorodnichenko

“Dynamic Scoring”: Why and How to Include Macroeconomic Effects in Budgetary Estimates for Legislative Proposals
Douglas Elmendorf

Looking for a Success in the Euro Crisis Adjustment Programs: The Case of Portugal
Ricardo Reis

Overcoming the Lost Decades? Abenomics after Three Years
Joshua K. Hausman and Johannes F. Wieland

A Crisis in Student Loans? How Changes in the Characteristics of Borrowers and in the Institutions They Attend Contributed to Rising Loan Defaults
Adam Looney and Constantine Yannelis