Editors’ Summary of the Brookings Papers on Economic Activity – 1974 No 3

Arthur M. Okun and

AMO

Arthur M. Okun

George L. Perry

George L. Perry Senior Fellow Emeritus - Economic Studies

THE FOUR PRINCIPAL articles and the report appearing in this issue of
Brookings Papers on Economic Activity were presented at the fifteenth conference
of the Brookings Panel on Economic Activity held in Washington
on December 5-6, 1974. One of the papers deals with the role of the dollar
in the world economy, one with the fundamental nature of the labor market
in the United States, and three with different aspects of the economy’s
cyclical performance: the viability of thrift institutions during periods of
tight money, the cyclical behavior of productivity in manufacturing, and
the impact of recession on different groups in the labor market.