The Brookings Papers on Economic Activity contains the articles, reports, and highlights of the discussion from conferences of the Brookings Panel on Economic Activity. The expertise of the panel is concentrated on the "live" issues of economic performance that confront the maker of public policy and the executive in the private sector. Particular attention is devoted to recent and current economic developments that are directly relevant to the contemporary scene or especially challenging because they stretch our understanding of economic theory or previous empirical findings. Such issues are typically quantitative, and the research findings are often statistical. Nevertheless, in all the articles and reports, the reasoning and the conclusions are developed in a form intelligible to the interested, informed nonspecialist as well as useful to the expert in macroeconomics. In short, the papers aim at several objectives: meticulous and incisive professional analysis, timeliness and relevance to current issues, and lucid presentation.

The Brookings Institution is an independent, nonpartisan organization devoted to research, analysis, education, and publication focused on public policy issues in the areas of economics, foreign policy, and government. The goal of the Institution's activities is to improve the performance of American institutions and the quality of public policy by using social science to analyze emerging issues and to offer practical approaches to those issues in language aimed at the general public. In its conferences, publications, and other activities, Brookings serves as a bridge between scholarship and policymaking, bringing new knowledge to the attention of decision makers and affording scholars greater insight into public policy issues. The Institution's activities are carried out through three research programs (Economic Studies, Foreign Policy Studies, and Governmental Studies), as well as through the Center for Public Policy Education and the Brookings Institution Press.