Brookings Papers on Economic Activity: Spring 2013

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:

• Inequality Rising and Permanent over Past Two Decades Jason DeBacker (Middle Tennessee State University), Bradley Heim (Indiana University), Vasia Panousi (Federal Reserve Board), Shanthi Ramnath (U.S. Treasury Department), and Ivan Vidangos (Federal Reserve Board)

• Minimum Balance of 5 Percent Could Prevent Future Money Market Fund Runs Patrick E. McCabe (Board of Governors of the Federal Reserve) and Marco Cipriani, Michael Holscher, and Antoine Martin (Federal Reserve Bank of New York)

• Low-Income, High-Achieving Students Miss Out on Attending Selective Colleges Caroline M. Hoxby (Stanford University) and Christopher Avery (Harvard Kennedy School of Government)

• Portuguese Economic Slump Caused by the Large Capital Inflows that Came with the Euro Ricardo Reis (Columbia University)

• Family Planning over Past Half-Century Has Had Positive Social and Economic Impacts Martha J. Bailey, University of Michigan

• Large Gender Gap in Financial Inclusion Worldwide Asli Demirguc-Kunt and Leora Klapper (World Bank)

David H. Romer is the Herman Royer Professor of Political Economy at University of California-Berkeley. Professor Romer is co-director of the Program in Monetary Economics at the National Bureau of Economic Research, and is a member of the NBER Business Cycle Dating Committee. He is a fellow of the American Academy of Arts and Sciences. In addition, he is a member of the American Economic Association Executive Committee, a three-time recipient of Berkeley's Graduate Economic Association's distinguished teaching and advising awards, and the recipient of an Alfred P. Sloan Foundation Research Fellowship. Justin Wolfers is an associate professor of economics in the Business and Public Policy Department at the Wharton School and a professor of business and public policy at the University of Michigan. He is also a nonresident senior fellow of the Brookings Institution.