For almost thirty years, Brookings Papers on Economic Activity (BPEA) has provided academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues. Contents include: Investment, Fiscal Policy, and Capital Overhang by Austan Goolsbee (University of Chicago) and Mihir Desai (Harvard University) Monetary Policy Alternatives at the Zero Bound: An Empirical Assessment by Ben S. Bernanke and Vincent Reinhart (Federal Reserve) and Brian P. Sack (Macroeconomic Advisers, LLC) What Happened to the Great U.S. Job Machine? The Role of Trade and Electronic Offshoring Martin N. Baily (Institute for International Economics) and Robert Z. Lawrence (Harvard University) Budget Deficits, National Saving, and Interest Rates William Gale, Peter Orszag (Brookings Institution)