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Contents include Regulating the Shadow Banking SystemGary Gorton and Andrew Metrick (Yale University) The Increase in Income Cyclicality of High-Income Households and its Relation to the Rise in Top Income SharesJonathan A. Parker (Northwestern University) and Annette Vissing-Jorgensen (Northwestern University and CEPR) The State of the Safety Net in the Post-Welfare Reform Era Marianne Bitler (University of CaliforniaIrvine and San Francisco Federal Reserve Bank) and Hilary W. Hoynes (University of CaliforniaDavis) State Government Spending and Transitory Income FluctuationsJames R. Hines Jr (University of Michigan) The Impact of No Child Left Behind on Students, Teachers, and SchoolsThomas S. Dee (University of Virginia) and Brian Jacob (University of Michigan) How Useful Are Estimated DSGE Model Forecasts for Central Bankers?Rochelle Edge (Federal Reserve Board) and Refet S. Gurkaynak (Bilkent University)
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