THIS ISSUE CONTAINS papers presented July 18 and 19, 1996, at the tenth
meeting of the Brookings Microeconomics Panel. The papers address
economic and policy issues in five different industries. The Alfred P.
Sloan Foundation's Industry Studies Program sponsored the industry
studies by Timothy Bresnahan and Shane Greenstein and by Ernest
Berndt, lain Cockburn, and Zvi Griliches. Bresnahan and Greenstein
examine the migration of corporate computer users from massive mainframes
to distributed computing platforms. Berndt, Cockburn, and Griliches
explore the measurement of drug prices, in particular the prices
of drugs used to treat depression. The other papers examine similar
industry-level issues. Steven A. Morrison and Clifford Winston identify
the causes and consequences of airline fare wars in the United States.
Matthew White identifies factors that are likely to shape the deregulated
markets for electricity generation. Frank Wolak projects how future
changes in local and long-distance telephone call rates will affect consumer