The Bureau will cover your travel and hotel expenses in accordance with the usual regulations and you will receive a $4,000 honorarium per paper for preparing and presenting the paper. We will again associate a diabolical structure of penalties: $75 per business day for missing any of the deadlines. The clock-keeper will be Rob Shannon, the NBER Assistant Director, Conferences, to whom all papers should be sent at each stage.

To recap the schedule:

Friday, August 13 - Your first draft is due

Friday, Monday, August 30 - My comments back to you

Friday, September 17 - Your final version due

Thursday, October 7 - Conference in DC

Monday, October 5 - Final revisions due

I am very pleased indeed that you are going to participate in this year's conference. I am sure your paper, and the conference more generally, will attract a lot of attention.

Please sign and return the enclosed copy of this letter in the envelope provided to confirm your participation in this conference and acceptance of the deadlines stated herein.

Sincerely,

James Poterba

James Poterba