This is the seventh in a series of annuals from the National Bureau of Economic Research that are designed to stimulate research on problems in applied economics, to bring frontier theoretical developments to a wider audience, and to accelerate the interaction between analytical and empirical research in macroeconomics. Contents What Shall We Do Today? Goals and Signposts in the Operation of Monetary Policy , Ben S. Bernanke and Frederic S. Mishkin - A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong and Singapore , Alwyn Young - International Trade and the Wage Structure , Steven J. Davis - Imperfect Information and Macroeconomic Analysis , Joseph E. Stiglitz and Bruce Greenwald - Asset Pricing Lessons for Macroeconomics , Lars P. Hansen and John H. Cochrane - Postmortem on the Debt Crisis , Daniel Cohen
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