This paper examines the record of employment and unemployment between 1982 and 1986 and discusses a variety of cyclical and structural employment policies that were considered but not implemented during the years 1982-84 when I served as chairman of the Council of Economic Advisers. Employment...

The value of reported vested pension obligations depends critically on the interest rate a firm uses to discount future benefit obligations. Firms with substantial benefit obligations relative to existing pension assets tend to reduce the reported present value of their obligations by using a...