THE BROOKINGS PANEL ON ECONOMIC ACTIVITY closed its sixth year with
a conference held in Washington, D.C., on December 4-5, 1975. Presented
at that time and included in this issue are four articles and one report
devoted to problems of current importance and concern. Three of these
articles continue the panel's analysis of inflation, dealing with corporate profits
accounting under inflation, the behavior of raw-materials prices,
and the importance of aggregate demand in price behavior; the fourth
explores some current controversies in international economics.