THE TENTH ANNIVERSARY CONFERENCE of the Brookings Panel on
Economic Activityw as held in Washington D .C., on May 8 and 9, 1980.
This issue of Brookings Papers contains the four articles presented at that
conference together with formal comments on the articles and a summary
of the general discussion of each. The participants who commented formally
were invited to expand on their topics. Their comments, which
frequently take different viewpoints from the authors, are more extensive
than those in previous issues of Brookings Papers. The articles cover
topics that have been of major interest to the profession and of concern
to policymakers during the decade of the panel's existence: stabilization
policy, the theory of employment arrangements, the system of flexible
exchange rates, and inflation.