Brookings Panel on Economic Activity 1991-1993, Washington, D.C.

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The Brookings Panel on Economic Activity aims to focus macroeconomic research on problems confronting the U.S. economy. The Panel strives to fulfill this purpose by generating, discussing, and publishing high quality, relevant and timely research of macroeconomic significance. Its first commitment is to produce quality research, and the Panel's method of operation is designed with that goal foremost in mind. Its published research undergoes a much more intensive process of review, criticism, discussion and editing than conventional journals can provide. In this process and in the section of topics and authors, the directors of the Panel are aided by the Panel Advisers, a group of experts spanning a broad range of philosophical views and methodological preferences. The Panel does not pursue highly abstract and purely theoretical modeling of economic relationships which cannot be treated against data and actual experience. But subject to that constraint, its notion of relevance is broad. It includes research to explore fundamental characteristics of the economy and how it responds to policy, as well as more applied research aimed at clarifying and quantifying economic relationships. It is concerned with issues affecting economic performance broadly, including areas such as long-run growth, global interdependence, and energy policy, as well as the range of issues associated with business cycles and economic stabilization.