Brookings Papers on Economic Activity 2002:2

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Contents include: Robust Monetary Policy Rules with Unknown Natural Rates, Ahtnasios Orphanides (Board of Governors, Federal Reserve) and John C. Williams (Federal Reserve Bank of San Francisco) The Role of Models and Probabilities in the Monetary Policy Process Christopher Sims (Princeton) Current Account Deficits in the Euro Area: The End of the Feldstein Horioka Puzzle? Olivier Blanchard (MIT) and Francesco Giavazzi (Bocconi University) Productivity Growth and the New Economy William D. Nordhaus (Yale)

William C. Brainard is professor of economics at Yale University. George L. Perry is a senior fellow in the Economic Studies program at the Brookings Institution.