Brookings Papers on Economic Activity: Spring 2014

Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues.

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Contents

• The Wealthy Hand-to-Mouth, Greg Kaplan (Princeton University), Giovanni L. Violante (New York University and CEPR), and Justin Weidner (Princeton University)

• Effects of Unconventional Monetary Policy on Financial Institutions, Gabriel Chodorow-Reich (Harvard University)

• The Political Economy of Discretionary Spending: Evidence from the American Recovery and Reinvestment Act, Christopher Boone (Columbia University), Arindrajit Dube (University of Massachusetts–Amherst), and Ethan Kaplan (University of Maryland)

• Are the Long-Term Unemployed on the Margins of the Labor Market? Alan B. Krueger, Judd Cramer, and David Cho (Princeton University)

• Abenomics: Preliminary Analysis and Outlook, Joshua K. Hausman (University of Michigan) and Johannes F. Wieland (University of California–San Diego)

• Debt and Incomplete Financial Markets: A Case for Nominal GDP Targeting, Kevin D. Sheedy