Editors’ Summary of the Brookings Papers on Economic Activity – 1979 No 2

George L. Perry and

George L. Perry Senior Fellow Emeritus - Economic Studies

Arthur M. Okun

AMO

Arthur M. Okun

THIS ISSUE OF BROOKINGS PAPERS contains articles, reports, and
summaries of discussions presented at the twenty-eighth conference of the
Brookings Panel on Economic Activity, which was held in Washington,
D.C. on September 28 and 29, 1979. Three articles address economic
puzzles of current importance. The first identifies the contrasting behavior
of real wages among major industrial countries during the 1970s and examines
its causes and consequences. The second explores the reasons why
residential construction remained strong between mid-1978 and mid-
1979. The third investigates the pronounced slowdown in U.S. productivity.
Two shorter reports are also addressed to issues concerning productivity,
while a final report presents facts and figures on the 1979
petroleum shortage.