The information in Figure 1.3 and elsewhere regarding features found in automobiles is courtesy of Word's Automotive Reports. The views expressed with this book are those of the authors and should not be attributed to the Federal Reserve System or the Federal Reserve Bank of Dallas. Copyright © 1999 by W. Michael Cox and Richard Alm Published by Basic Books, A Member of the Perseus Books Group All rights reserved. Printed in the United States of America. No part of this book may be reproduced in any manner whatsoever without written permis- sion except in the case of brief quotations embodied in critical articles and reviews. For information, address Basic Books, 10 East 53rd Street, New York, NY 10022-5299. FIRST EDITION Designed by Rachel Hegarty A CIP catalog record for this book is available from the Library of Congress. ISBN 0-465-04784-X (cloth); ISBN 0-465-04783-1 (paper) 99 00 01 02 03 ❖/RRD 10 9 8 7 6 5 4 3 2 1 -iv- |