Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services.
Economics focuses on the behaviour and intera ...
, language =
, editors =
Janice Eberly
Janice Caryl "Jan" EberlyHilary Hurd Anyaso Northwestern University News, Apr. 24, 2013. Accessed Jan. 11, 2014.Debbie RamseyFallbrook grad nominated for U.S. Dept. of Treasury post ''Fallbrook Bonsall Village News'', Aug. 11, 2011. Accessed Jan. ...
James H. Stock
, publisher = Brookings Press
, country =
USA
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...
, history = 1970–present
, frequency = semiannually
, openaccess =
, license =
, impact =
, impact-year =
, ISSN = 0007-2303
, eISSN =
, CODEN =
, JSTOR = broopapeeconacti
, LCCN =
, OCLC =
, website = https://www.brookings.edu/bpea/
, link1 =
, link1-name =
, link2 =
, link2-name =
The ''Brookings Papers on Economic Activity'' (''BPEA'') is a journal of macroeconomics published twice a year by the
Brookings Institution Press
The Brookings Institution, often stylized as simply Brookings, is an American research group founded in 1916. Located on Think Tank Row in Washington, D.C., the organization conducts research and education in the social sciences, primarily in e ...
.[1 /nowiki>.html" ;"title="">[1 /nowiki>">">[1 /nowiki>/sup> Each issue of the journal comprises the proceedings of a conference held biannually by th 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 /nowiki>.html" ;"title="">[2 /nowiki>">">[2 /nowiki>/sup>
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 /nowiki>]The journal briefly released an annual issue dedicated to Microeconomics, 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 /nowiki>">">[4 /nowiki>/sup>._Economist_and_former_editor_Justin_Wolfers.html" ;"title=" /nowiki>.html" ;"title="">[4 /nowiki>">">[4 /nowiki>/sup>. Economist and former editor Justin Wolfers"> /nowiki>.html" ;"title="">[4 /nowiki>">">[4 /nowiki>/sup>. 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 /nowiki>] 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 fro the Brookings website
Former
Federal Reserve
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...
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
The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At ...
. According to the ''
Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...
'', 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 /nowiki>.html" ;"title="">[6 /nowiki>">">[6 /nowiki>/sup>The ''
Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...
'' further cited Bernanke's ''BPEA'' contribution by noting that “Former
Federal Reserve
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...
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 /nowiki>">">[7 /nowiki>/sup>_Ben_Bernanke.html" ;"title=" /nowiki>.html" ;"title="">[7 /nowiki>">">[7 /nowiki>/sup> Ben Bernanke">Bernanke also discussed in his paper the decision not to rescue Lehman Brothers, and reflected on the ramifications of that choice.[8 /nowiki>.html" ;"title="">[8 /nowiki>">">[8 /nowiki>/sup>
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 /nowiki>">">[9 /nowiki>/sup>That_paper_was_also_cited_in_the_''The_Washington_Post.html" "title=" /nowiki>.html" ;"title="">[9 /nowiki>">">[9 /nowiki>/sup>That paper was also cited in the ''The Washington Post">Washington Post
''The Washington Post'' (also known as the ''Post'' and, informally, ''WaPo'') is an American daily newspaper published in Washington, D.C. It is the most widely circulated newspaper within the Washington metropolitan area and has a large nati ...
'' 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 /nowiki>">0">[10 /nowiki>/sup>
''BPEA''_commenced_publication_in_1970_under_the_editorship_of_ [10 /nowiki>">0">[10 /nowiki>/sup>
''BPEA''_commenced_publication_in_1970_under_the_editorship_of_Arthur_Okun">0 /nowiki>.html"_;"title="0">[10 /nowiki>">0">[10 /nowiki>/sup>
''BPEA''_commenced_publication_in_1970_under_the_editorship_of_Arthur_Okun_and_George_Perry_(American_economist).html" ;"title="Arthur_Okun.html" ;"title="0 /nowiki>.html" ;"title="0">[10 /nowiki>">0">[10 /nowiki>/sup>
''BPEA'' commenced publication in 1970 under the editorship of Arthur Okun">0 /nowiki>.html" ;"title="0">[10 /nowiki>">0">[10 /nowiki>/sup>
''BPEA'' commenced publication in 1970 under the editorship of Arthur Okun and George Perry (American economist)">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
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...
Alan Greenspan was among the initial contributors to the first edition of ''BPEA''. Following Arthur Melvin Okun, Okun's untimely death in 1980, William C. Brainard joined George Perry (American economist), Perry as co-editor from 1980 to 2007. In 2008, the journal was edited by Douglas Elmendorf,
N. Gregory Mankiw
Nicholas Gregory Mankiw (; born February 3, 1958) is an American macroeconomist who is currently the Robert M. Beren Professor of Economics at Harvard University. Mankiw is best known in academia for his work on New Keynesian economics.
Mankiw h ...
, and Harvard economist
Lawrence H. Summers
Lawrence Henry Summers (born November 30, 1954) is an American economist who served as the 71st United States secretary of the treasury from 1999 to 2001 and as director of the National Economic Council from 2009 to 2010. He also served as pres ...
. Leading economists
David Romer
David Hibbard Romer (born March 13, 1958) is an American economist, the Herman Royer Professor of Political Economy at the University of California, Berkeley, and the author of a standard textbook in graduate macroeconomics as well as many influ ...
and
Justin Wolfers
Justin James Michael Wolfers, born in 1972, is an Australian economist and public policy scholar. He is professor of economics and public policy at the Gerald R. Ford School of Public Policy at the University of Michigan, and a Senior Fellow at ...
served as editors from 2009 to 2015.[11 /nowiki>">1">[11 /nowiki>/sup>_Presently,_Janice_Eberly.html" ;"title="1 /nowiki>.html" ;"title="1">[11 /nowiki>">1">[11 /nowiki>/sup> Presently, Janice Eberly">Janice C. Eberly and James H. Stock have held the editorship since 2016.[12 /nowiki>]
Nobel Prize–Winning Authors
Twenty-three winners of the Nobel Memorial Prize in Economic Sciences, Nobel Prize in Economics have contributed as authors or discussants for ''BPEA'' since its inception in 1970, including:
Michael Kremer
Michael Robert Kremer (born November 12, 1964) is an American development economist who is University Professor in Economics And Public Policy at the University of Chicago. He is the founding director of the Development Innovation Lab at the B ...
William Nordhaus
William Dawbney Nordhaus (born May 31, 1941) is an American economist, a Sterling Professor of Economics at Yale University, best known for his work in economic modeling and climate change, and one of the 2 recipients of the 2018 Nobel Memoria ...
Paul M. Romer
Paul Michael Romer (born November 6, 1955) is an American economist and policy entrepreneur who is a Professors in the United States, University Professor in Economics at New York University. Romer is best known as the former Chief Economist of ...
Jean Tirole
Jean Tirole (born 9 August 1953) is a French professor of economics at Toulouse 1 Capitole University. He focuses on industrial organization, game theory, banking and finance, and economics and psychology. In 2014 he was awarded the Nobel Memor ...
Robert J. Shiller
Robert James Shiller (born March 29, 1946) is an American economist, academic, and author. As of 2019, he serves as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management's International Center for ...
Christopher A. Sims
Christopher Albert Sims (born October 21, 1942) is an American econometrician and macroeconomist. He is currently the John J.F. Sherrerd '52 University Professor of Economics at Princeton University. Together with Thomas Sargent, he won the N ...
Oliver E. Williamson
Oliver Eaton Williamson (September 27, 1932 – May 21, 2020) was an American economist, a professor at the University of California, Berkeley, and recipient of the 2009 Nobel Memorial Prize in Economic Sciences, which he shared with Elinor Ostro ...
Paul Krugman
Paul Robin Krugman ( ; born February 28, 1953) is an American economist, who is Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for ''The New York Times''. In 2008, Krugman was th ...
George Akerlof
George Arthur Akerlof (born June 17, 1940) is an American economist and a university professor at the McCourt School of Public Policy at Georgetown University and Koshland Professor of Economics Emeritus at the University of California, Berkeley. ...
Gary S. Becker
Gary Stanley Becker (; December 2, 1930 – May 3, 2014) was an American economist who received the 1992 Nobel Memorial Prize in Economic Sciences. He was a professor of economics and sociology at the University of Chicago, and was a leader of ...
Robert Solow
Robert Merton Solow, GCIH (; born August 23, 1924) is an American economist whose work on the theory of economic growth culminated in the exogenous growth model named after him. He is currently Emeritus Institute Professor of Economics at the ...
Franco Modigliani
Franco Modigliani (18 June 1918 – 25 September 2003) was an Italian-American economist and the recipient of the 1985 Nobel Memorial Prize in Economics. He was a professor at University of Illinois at Urbana–Champaign, Carnegie Mellon Un ...
George Stigler
George Joseph Stigler (; January 17, 1911 – December 1, 1991) was an American economist. He was the 1982 laureate in Nobel Memorial Prize in Economic Sciences and is considered a key leader of the Chicago school of economics.
Early life and e ...
James Tobin
James Tobin (March 5, 1918 – March 11, 2002) was an American economist who served on the Council of Economic Advisers and consulted with the Board of Governors of the Federal Reserve System, and taught at Harvard and Yale Universities. He d ...
Lawrence Klein
Lawrence Robert Klein (September 14, 1920 – October 20, 2013) was an American economist. For his work in creating computer models to forecast economic trends in the field of econometrics in the Department of Economics at the University of Penn ...