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According to the authors, a surprisingly large amount of commentary today marks the beginning of the dot-com bubble of the late 1990s from either the Netscape Communications initial public offering of 1995 or Alan Greenspans "irrational exuberance" speech of 1996. The authors believe that this is wrong: they see little sign that the aggregate U.S. stock market was in any way in a significant bubble until 1998 or so.

Economists have been reluctant to rely on culture as a possible determinant of economic phenomena, according to the authors. The notion of culture is so broad and the channels through which it can enter the economic discourse so vague that it is difficult to design testable hypotheses. In this paper, the authors show this does need to be the case.

The report takes a closer look at the New York metro area economy’s adjustment to change in recent decades and the challenges that confront New York now. It is suggested that a rise in the skill and education levels of the metro area workforce has contributed significantly to the resilience of the economy to date, and that an ongoing expansion of this “human capital” is necessary to cope with the challenges ahead.

The report demonstrates that, despite significant challenges, older core cities can become economically competitive places where all residents can participate and prosper. It looks at five cities, including Baltimore, Cleveland, Detroit, Philadelphia, and Pittsburgh, and examines how innovative economic development, land use, transportation, neighborhood revitalization, and housing policies are bringing about significant economic and social revitalization.

This paper investigates the relationship between time variations in output and inflation dynamics and monetary policy in the US. There are changes in the structural coefficients and in the variance of the structural shocks.

The report by the U.S. Conference of Mayors finds that In 2004, the nation’s 361 metro areas were responsible for 86.3% of U.S. gross domestic product, producing goods and services with a total value of $10.1 trillion. Additionally, in 2004, 52% of metros grew faster than the nation in inflation adjusted terms.

This report complements previous reports on strengthening U.S. competitiveness that have been issued over the past several months by business and academic organizations, particularly the National Academies’ “Rising Above the Gathering Storm.” The first section highlights the most significant recommendations contained in the Initiative. The second part is a narrative that lays out the challenges, historical background, and a broad description of the Initiative. The third section of the report provides a detailed list of recommendations.

Despite overall signs of improving fiscal health in 2005, half of the nation’s cities have been forced to raise new revenues to address gaps created by rising employee health care and pension costs, as well as increases in public safety and infrastructure needs, according to the survey.

The report is intended to start a community dialogue, and provides recommendations to make Fresno a more attractive city in order to attract and retain knowledge workers.

The five initial recommendations from the Rhode Island Science and Technology Advisory Council focus on increasing Rhode Island’s ability to conduct and commercialize research, support local entrepreneurs and new company creation, promote public/private partnership, and better leverage Rhode Island’s size as a competitive advantage.