...university of Minnesota Mr. Halter E. Hoadley Executive Vice President, Chief Economist Bank of America Dr. F. Thomas Juster Program Director Institute for Social Research University of Michigan Professor Lawrence R. Klein Benjamin Franklin Professor of Economics University of Pennsylvania Mr....

...City, NY Walter W. Heller Regents' Professor of Economics University of Minnesota Walter E. Hoadley Bank of America Center F. Thomas Juster Program Director...Research University of Michigan Lawrence R. Klein Benjamin Franklin Professor of Economics Wharton School of Finance and Commerce University of Pennsylvania...

...City, NY Walter W. Heller Regents' Professor of Economics University of Minnesota Walter E. Hoadley Bank of America Center F. Thomas Juster Program Director...Institute for Social Research University of Michigan 14 Lawrence R. Klein Benjamin Franklin Professor of Economics Wharton School of Finance and Commerce...

...your statements. Thank you very much, each of you. Dr. McCracken, you may proceed. STATEMENT OF DR. PAUL W. McCRACKEN, EDMUND EZRA DAY UNIVERSITY PROFESSOR...OF BUSINESS ADMINISTRATION, UNIVERSITY OF MICHIGAN, AND CHAIRMAN, COUNCIL OF ACADEMIC ADVISERS, AMERICAN ENTERPRISE INSTITUTE FOR PUBLIC POLICY RESEARCH...

...City. NY Walter W. Heller Regents' Professor of Economics University of Minnesota Walter E. Hoadley Bank of America Center F. Thomas Juster Program Director Institute for Social Research Lawrence R. Klein Benjamin Franklin Professor of Economics Wharton School of Finance and Commerce University...

...W. Heller Regents' Professor of Economics University of Minnesota Walter E. Hoadley Bank of America F. Thomas Juster Program Director Institute for Social...Research University of Michigan Lawrence R. Klein Benjamin Franklin Professor of Economics Wharton School of Finance and Commerce Paul W. McCracken Edmund...

...W. Heller Regents' Professor of Economics University of Minnesota Walter E. Hoadley Bank of America F. Thomas Juster Program Director Institute for Social...Research University of Michigan Lawrence R. Klein Benjamin Franklin Professor of Economics W hart on School of Finance and Commerce Paul W. McCracken...

...W. Heller Regents' Professor of Economics University of Minnesota Walter E. Hoadley Bank of America F. Thomas Juster Program Director Institute for Social...Research University of Michigan Lawrence R. Klein Benjamin Franklin Professor of Economics. Wharton School of Finance and Commerce Paul W. McCracken...

...New York Walter W. Heller Regents' Professor of Economics University of Minnesota Walter E. Hoadley Bank of America Center F. Thomas Juster Program Director...American Enterprise Institute for Policy Research Paul W. MoCracken Edmund Ezra Day University Professor of Business Administration University of Michigan Leif...

...Economics University of Pennsylvania Department of Economics John Makin Director, Fiscal Policy Studies American Enterprise Institute for Policy Research Paul W. McCracken Edmund Ezra Day Distinguished Professor of Business Administration Rudolph Oswald Director, Research Department AFL-CIO...