Brookings Panel on Economic Activity, Washington, DC, 1997-1999

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The Brookings Panel on Economic Activity aims to focus macroeconomic research on problems confronting the U.S. and world economy and on the economic relationships that are crucial to addressing such problems. The Panel strives to fulfill this purpose by generating, discussing, and publishing high quality, relevant, and timely research on a broad range of applied macroeconomic topics. The Panel's first commitment is to product quality research, and its method of operation is designed with that goal foremost in mind. Its research, published in the Brookings Panel on Economic Activitv, undergoes a much more intensive process of review, criticism, discussion and editing than conventional journals can provide. In this process, and in the selection 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 tested 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 relations. It is concerned with issues affecting economic performance broadly, including areas such as global interdependence and trade policy, as well as the full range of issues associated with long run growth, business cycles and economic stabilization.