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The NBER Digest: June 2004 Issue

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Abstract:

The following articles appear in this issue:

* Education Level Drives City Growth * Illiquidity Raises Investment Risk * Financial Reform Changed Stock Markets in Latin America * Taxation and Corporate Payout Policy

The Digest is a monthly publication that summarizes at least four recent and newsworthy NBER Working Papers. Professional journalists write these summaries for a non-technical audience. The Bureau sends nearly 12,000 copies of the Digest each month to readers in government, business, universities, and the media. The NBER Digest is available in hard copy to the general public upon request.