Brookings Papers on Economic Activity: Spring 2012

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:

• Democratic Change in the Arab World, Past and Present Eric Chaney (Harvard University)

• Disentangling the Channels of the 2007–2009 Recession James Stock (Harvard University) and Mark Watson (Princeton University)

• Macroeconomic Effects of FOMC Forward Guidance Jeffrey Campbell, Charles Evans, Jonas Fisher, and Alejandro Justiniano (Federal Reserve Bank of Chicago)

• Is the Debt Overhang Holding Back Consumption? Karen Dynan (Brookings Institution)

• The Euro’s Three Crises Jay Shambaugh (Georgetown University)

• Fiscal Policy in a Depressed Economy J. Bradford DeLong (University of California–Berkeley) and Lawrence Summers (Harvard University )