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 of current economic issues. Contents Include: Articles Hostile Takeovers in the 1980: The return to Corporate Specialization, Sanja Bhagat, Andrei Shileifer, and Robert W. Vishny The Impact of Corporate Restructuring on Industrial Research and Development, Bronwyn H. Hall R&D Cooperation and Competition, Michael L. Katz and Janusz A. Ordover Vertical Integration and Market Foreclosure, Oliver Hart and Jean Tirole The Concentration-Margins Relationship Reconsidered, Michael Salinger Capital, Labor, and Productivity, Paul M. Romer The Productivity of Capital in a Period of Slower Growth Martin Neil Baily and Charles L. Shiltze