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The Brookings Papers on Economic Activity (BPEA) is a journal of macroeconomics published twice a year by the Brookings Institution Press.[1] Each issue of the journal comprises the proceedings of a conference held biannually by the Economic Studies program at the Brookings Institution in Washington D.C. The conference and journal both "emphasize innovative analysis that has an empirical orientation, take real-world institutions seriously, and is relevant to economic policy."[2]
The journal is written in a clear and accessible manner in order to maximize understanding of economics and policymaking, and covers a variety of macroeconomic topics from housing, business investments, and fiscal and monetary policy, to international capital flows, environmental issues, and more.[3]The journal briefly released an annual issue dedicated to microeconomic issues, but this was dropped as the focus cemented around macroeconomic policy.
BPEA has been ranked as a leading journal in the field since its initial publication in 1970[4]. Economist and former editor Justin Wolfers has said that the journal is "the most public policy-focused of all serious economics journal, or, among all public policy journals, it's the most serious economic analysis."[5] Each issue typically publishes six full-length papers, along with comments by two peer reviewers per paper, and a summary of the general discussion from the conference. The journal is released in hard copy format following the conference, and all past editions are available freely online from the Brookings website.
Former Federal Reserve Chairman Ben Bernanke contributed a paper to the Fall 2018 journal to commemorate the ten-year anniversary of the financial crisis and the onset of the Great Recession. According to the Wall Street Journal, Bernanke pointed out that "when investors fled from short-term financing markets in 2008, the panic engulfing Wall Street spread to the rest of the economy…"[6]The Wall Street Journal further cited Bernanke's BPEA contribution by noting that "Former Federal Reserve Chairman Ben Bernanke said in a new paper that the credit-market panic that culminated 10 years ago when Lehman Brothers failed better explains the severity of the 2007-09 recession than the housing bust does."[7]Bernanke also discussed in his paper the decision not to rescue Lehman Brothers, and reflected on the ramifications of that choice.[8]
Additionally, the journal also considers the social ramifications of economic policy. For example, the Spring 2019 paper "Mortality and morbidity in the 21st century" by Anne Case and Sir Angus Deaton looked deeply "at a divided America – and its crisis of suicide, overdoses, and drug- and alcohol-fueled diseases."[9]That paper was also cited in the Washington Post for its notable findings, such as, "[s]ickness and early death in the white working class could be rooted in poor job prospects for less-educated young people as they first enter the labor market, a situation that compounds over time through family dysfunction, social isolation, addiction, obesity and other pathologies…"[10]
"Capacity Utilization: Concept, Measurement, and Recent Estimates" 1973, No. 3
"Mortgage Credit Availability and Residential Construction" 1979 (discussant)
External linksedit
Brookings Papers on Economic Activity
Wall Street Journal
Wall Street Journal
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The Guardian
Washington Post
November 14, 2023
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This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages This article has an unclear citation style The reason given is Edits in March 2019 have scrambled the references The references used may be made clearer with a different or consistent style of citation and footnoting October 2020 Learn how and when to remove this template message This article s use of external links may not follow Wikipedia s policies or guidelines Please improve this article by removing excessive or inappropriate external links and converting useful links where appropriate into footnote references October 2020 Learn how and when to remove this template message This article contains content that is written like an advertisement Please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view October 2020 Learn how and when to remove this template message Learn how and when to remove this template message The Brookings Papers on Economic Activity BPEA is a journal of macroeconomics published twice a year by the Brookings Institution Press 1 Each issue of the journal comprises the proceedings of a conference held biannually by the Economic Studies program at the Brookings Institution in Washington D C The conference and journal both emphasize innovative analysis that has an empirical orientation take real world institutions seriously and is relevant to economic policy 2 Brookings Papers on Economic ActivityDisciplineEconomicsLanguageEnglishEdited byJanice Eberly James H StockPublication detailsHistory1970 presentPublisherBrookings Press USA FrequencysemiannuallyStandard abbreviationsISO 4 alt Bluebook alt1 alt2 NLM alt MathSciNet alt ISO 4Brook Pap Econ Act IndexingCODEN alt alt2 JSTOR alt LCCN alt MIAR NLM alt ScopusISSN0007 2303JSTORbroopapeeconactiLinksJournal homepageThe journal is written in a clear and accessible manner in order to maximize understanding of economics and policymaking and covers a variety of macroeconomic topics from housing business investments and fiscal and monetary policy to international capital flows environmental issues and more 3 The journal briefly released an annual issue dedicated to microeconomic issues but this was dropped as the focus cemented around macroeconomic policy BPEA has been ranked as a leading journal in the field since its initial publication in 1970 4 Economist and former editor Justin Wolfers has said that the journal is the most public policy focused of all serious economics journal or among all public policy journals it s the most serious economic analysis 5 Each issue typically publishes six full length papers along with comments by two peer reviewers per paper and a summary of the general discussion from the conference The journal is released in hard copy format following the conference and all past editions are available freely online from the Brookings website Former Federal Reserve Chairman Ben Bernanke contributed a paper to the Fall 2018 journal to commemorate the ten year anniversary of the financial crisis and the onset of the Great Recession According to the Wall Street Journal Bernanke pointed out that when investors fled from short term financing markets in 2008 the panic engulfing Wall Street spread to the rest of the economy 6 The Wall Street Journal further cited Bernanke s BPEA contribution by noting that Former Federal Reserve Chairman Ben Bernanke said in a new paper that the credit market panic that culminated 10 years ago when Lehman Brothers failed better explains the severity of the 2007 09 recession than the housing bust does 7 Bernanke also discussed in his paper the decision not to rescue Lehman Brothers and reflected on the ramifications of that choice 8 Additionally the journal also considers the social ramifications of economic policy For example the Spring 2019 paper Mortality and morbidity in the 21st century by Anne Case and Sir Angus Deaton looked deeply at a divided America and its crisis of suicide overdoses and drug and alcohol fueled diseases 9 That paper was also cited in the Washington Post for its notable findings such as s ickness and early death in the white working class could be rooted in poor job prospects for less educated young people as they first enter the labor market a situation that compounds over time through family dysfunction social isolation addiction obesity and other pathologies 10 BPEA commenced publication in 1970 under the editorship of Arthur Okun and George Perry Their inspiration for starting the journal was to task the best academic economists to apply themselves to real world policy issues Former Chair of the Federal Reserve Alan Greenspan was among the initial contributors to the first edition of BPEA Following Okun s untimely death in 1980 William C Brainard joined Perry as co editor from 1980 to 2007 In 2008 the journal was edited by Douglas Elmendorf N Gregory Mankiw and Harvard economist Lawrence H Summers Leading economists David Romer and Justin Wolfers served as editors from 2009 to 2015 11 Presently Janice C Eberly and James H Stock have held the editorship since 2016 12 Nobel Prize Winning Authors editTwenty three winners of the Nobel Prize in Economics have contributed as authors or discussants for BPEA since its inception in 1970 including Michael Kremer 2019 Ending Africa s Poverty Trap Spring 2004 William Nordhaus 2018 Who s Afraid of a Big Bad Oil Shock Fall 2007 Productivity Growth and the New Economy 2002 No 2 The Recent Recession the Current Recovery and Stock Prices 2002 No 1 Policy Games Coordination and Independence in Monetary and Fiscal Policies 1994 No 2 Lethal Model 2 The Limits to Growth Revisited 1992 No 2 Do Borders Matter Soviet Economic Reform after the Coup 1991 No 2 Soviet Economic Reform The Longest Road 1990 No 1 Alternative Approaches to the Political Business Cycle 1989 No 2 Oil and Economic Performance in Industrial Countries 1980 No 2 The Falling Share of Profits 1974 No 1 The Allocation of Energy Resources 1973 No 3 The Recent Productivity Slowdown 1972 No 3 The Worldwide Wage Explosion 1972 No 2Paul M Romer 2018 Looting The Economic Underworld of Bankruptcy for Profit 1993 No 2 Implementing a National Technology Strategy with Self Organizing Industry Investment Boards Microeconomics 2 1993 Capital Labor and Productivity Microeconomics 1990Oliver Hart 2016 The Structure and Performance of the Money Management Industry 1992 discussant Vertical Integration and Market Foreclosure 1990 Sir Angus Deaton 2015 Mortality and morbidity in the 21st Century 2017Jean Tirole 2014 Vertical Integration and Market Foreclosure 1990Robert J Shiller 2013 Understanding Inflation Indexed Bond Markets Spring 2009 Low Interest Rates and High Asset Prices An Interpretation in Terms of Changing Popular Economic Models Fall 2007 Is There a Bubble in the Housing Market 2003 No 2 What Have They Been Thinking Homebuyer Behavior in Hot and Cold Markets Fall 2002 Public Resistance to Indexation A Puzzle 1997 No 1 Hunting for Homo Sovieticus Situational versus Attitudinal Factors in Economic Behavior 1992 No 1 Stock Prices and Social Dynamics 1984 No 2 Forward Rates and Future Policy Interpreting the Term Structure of Interest Rates 1983 No 1Thomas J Sargent 2011 Rational Expectations the Real Rate of Interest and the Natural Rate of Unemployment 1973 No 2 Rational Expectations A Correction 1973 No 3Christopher A Sims 2011 Monetary Policy Models Fall 2007 The Role of Models and Probabilities in the Monetary Policy Process 2002 No 2 What Does Monetary Policy Do 1996 No 2 Policy Analysis with Econometric Models 1982 No 1 Output and Labor Input in Manufacturing 1974 No 3Peter A Diamond 2010 Macroeconomic Aspects of Social Security Reform 1997 No 2 The Cyclical Behavior of the Gross Flows of U S Workers 1990 No 2 The Beveridge Curve 1989 No 1Christopher A Pissarides 2010 Is the Greek Debt One of Supply or Demand 2015Oliver E Williamson 2009 Vertical Integration and Market Foreclosure 1990 discussant Paul Krugman 2008 Trade and Wages Reconsidered Spring 2008 Asset Returns and Economic Growth 2005 No 1 I t s Baaack Japan s Slump and the Return of the Liquidity Trap 1998 No 2 Growing World Trade Causes and Consequences 1995 No 1 The Persistence of the U S Trade Deficit 1987 No 1 The U S Response to Foreign Industrial Targeting 1984 No 1 Flexible Exchange Rates in the Short Run 1976 No Edmund S Phelps 2006 Roots of the Recent Recoveries Labor Reforms or Private Sector Forces 2000 Causes of the 1980s Slump in Europe 1986 The Medium Run 1997 discussant The Growth of Nations 1995 discussant George Akerlof 2001 Unfinished Business in the Macroeconomics of Low Inflation A Tribute to George and Bill by Bill and George Fall 2007 Near Rational Wage and Price Setting and the Long Run Phillips Curve 2000 No 1 The Macroeconomics of Low Inflation 1996 No 1 Looting The Economic Underworld of Bankruptcy for Profit 1993 No 2 East Germany in from the Cold The economic aftermath of currency union 1991 No 1 Job switching and job satisfaction in the U S labor market 1988 No 2 Joseph Stiglitz 2001 Economic Crises Evidence and Insights from East Asia 1998 No 2 Examining Alternative Macroeconomic Theories 1988 No 1 Technological Change Sunk Costs and Competition 1987 No 3Daniel L McFadden 2000 Technological Change Sunk Costs and Competition 1987 discussant Gary S Becker 1992 Economic Growth and Subjective Well Being Reassessing the Easterlin Paradox 2008 discussant Robert Solow 1987 Deciphering the fall and rise in the net capital share 2015 Manufacturing Wage Dispersion An End Game Interpretation 1985 discussant U S Labor Markets Imbalance Wage Growth and Productivity in the 1970s 1983 discussant Comments and Discussion The Bosworth and Gordon Papers 1972 No 2Franco Modigliani 1985 Is a Tax Rebate an Effective Tool for Stabilization Policy 1977 No 1 Targets for Monetary Policy in the Coming Year 1975 No 1George Stigler 1982 Do Entry Conditions Vary across Markets 1988 discussant James Tobin 1981 A Price Target for U S Monetary Policy Lessons from the Experience with Money Growth Targets 1996 discussant Was This Recession Different Are They All Different 1993 discussant William John Fellner 1905 1983 1983 No 2 Stabilization Policy Ten Years After 1980 No 1 Macroeconomic Effects of Selective Public Employment and Wage Subsidies 1977 No 2 Monetary Policy in 1974 and Beyond 1974 No 1 Comments and Discussion The Fellner Okun and Gordon Reports 1971 No 2Lawrence Klein 1980 Capacity Utilization Concept Measurement and Recent Estimates 1973 No 3 Mortgage Credit Availability and Residential Construction 1979 discussant External links editBrookings Papers on Economic Activity Wall Street Journal Wall Street Journal Medium The Guardian Washington Post Retrieved from https en wikipedia org w index php title Brookings Papers on Economic Activity amp 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