Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research of current economic issues. Contents include: Standard Setting in High-Definition Television, Joseph Farell and Carl Shapiro Governance Structure, Managerial Characteristics, and Firm Performance in the Deregulated Rail Industry, Ann F. Friedlaender, Ernst R. Berndt, and Gerard McCullough Productivity Dynamics in Manufacturing Plants, Martin Neil Baily, Charles Hulten and David Campbell Race and School Quality Since Brown v. Board of Education, Michael A. Boozer, Alan B. Krueger, and Shari Wolkon The Structure and Performance of the Money Management Industry, Josef Lakonishok, Andrei Shleifer, and Robert W. Vishny Carbon Taxes and Economic Welfare, Dale W. Jorgenson, Daniel T. Slesnick, and Peter J. Wilcoxen