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. Contents: Editors' Summary The Financial Crisis: An Inside View By Phillip Swagel Understanding Inflation-Indexed Bond Markets By John Y. Campbell, Robert J. Shiller, and Luis M. Viceira Do Tax Cuts Starve the Beast? The Effect of Tax Changes on Government Spending By Christina D. Romer and David H. Romer Causes and Consequences of the Oil Shock of 2007-08 By James D. Hamilton Why Doesn't Capitalism Flow to Poor Countries? By Rafael Di Tella and Robert MacCulloch, reviewing a previous edition or volume
David Romer is the Herman Royer Professor of Political Economy at Berkeley and is currently a senior resident scholar at the International Monetary Fund. He is director of the Program in Monetary Economics at the National Bureau of Economic Research and is a member of the NBER's Business Cycle Dating Committee. Justin Wolfers is an associate professor in the Business and Public Policy department at the Wharton School, University of Pennsylvania, USA. He is also a faculty research fellow with the National Bureau of Economic Research.