The Columbia Encyclopedia, Sixth Edition articles from September 2005

The Columbia Encyclopedia, Sixth Edition archives from September 2005

Editors' summary.(on banks)(Editorial)
September 22, 2005... THE BROOKINGS PANEL ON Economic Activity held its eightieth conference in Washington, D.C., on September 8 and 9, 2005. This issue of the Brookings Papers includes the papers and discussions presented at the conference. The first paper examines...

Central bank transparency and the signal value of prices.
September 22, 2005... A CENTRAL BANK must be accountable for its actions, and its decision-making procedures should meet the highest standards of probity and technical competence. In light of the considerable discretion enjoyed by independent central banks, the...

Central bank transparency and the signal value of prices: comments and discussion.
September 22, 2005... Benjamin M. Friedman: A firm belief in the miraculous healing power of central bank transparency is a core tenet of the new religion that the economics of monetary policy has somehow become. In the rush to dissociate themselves from the...

Where did the productivity growth go? Inflation dynamics and the distribution of income.(economy)
September 22, 2005... It's no secret that the gap between the rich and the poor has been growing, but the extent to which the richest are leaving everybody else behind is not widely known.... It's like chasing a speedboat with a rowboat. --Bob Herbert, The New...

Where did the productivity growth go? Inflation dynamics and the distribution of income: comments and discussion.
September 22, 2005... Daniel E. Sichel: (1) Ian Dew-Becker and Robert Gordon have put together a very nice paper that covers some important ground. Although I will highlight some quibbles and questions, my overall view is that the paper is quite interesting and...

Are empowerment and education enough? Underdiversification in 401(k) plans.
September 22, 2005... AT THE END of 2000, current and former employees of the energy trading company Enron Corporation held $2.1 billion in the firm's 401(k) retirement savings plan. Sixty-two percent of that money was invested in Enron stock, then trading at $83 a...

Are empowerment and education enough? Underdiversification in 401(k) plans: comments and discussion.(retirement benefits)
September 22, 2005... William G. Gale: This paper by James Choi, David Laibson, and Brigitte Madrian documents the well-known fact that many workers invest a significant share of their 401(k) contributions in the equity of their own employer, and briefly reviews the...

A robust strategy for sustainable energy.
September 22, 2005... ONCE AGAIN THE debate has intensified over whether energy as a commodity is running out. Just six or seven years ago the world seemed awash in oil, yet today many pundits predict the end of oil and indeed the end of the fossil-fuel era. (1)...

A robust strategy for sustainable energy: comments and discussion.
September 22, 2005... Richard N. Cooper: I agree strongly with the main conclusion of this paper by Klaus Lackner and Jeffrey Sachs, which is that there is no shortage of energy on the horizon. The paper rightly emphasizes the substitution possibilities among...

Gauging employment: is the professional wisdom wrong?(employment status)
September 22, 2005... THE BUREAU OF Labor Statistics' (BLS) monthly report on labor market developments is the government's most widely anticipated statistical release and the one that most influences markets, forecasters, and policymakers. The report provides...

Gauging employment: is the professional wisdom wrong? Comment and discussion.
September 22, 2005... William Wascher: (1) George Perry has written a very interesting and provocative paper aimed at anyone engaged in analyzing and forecasting the U.S. economy. As Perry notes, analysts place considerable emphasis on the Bureau of Labor...