New Acquisitions - 1995

                                                        PAGE   1


     UNIVERSITY OF ADELAIDE.  Department of Economics.                  

     94-2   Pincus, Jonathan.  James Buchanan's federalist papers.  8p. 
     95-1   Brennan, G. & Pincus, J.J.  A minimalist model of federal   
            grants and flypaper effects.  26p.                          
     95-2   Richardson, Sue.  Education and social justice.  27p.       

     UNIVERSITY OF ADELAIDE.  Centre for Int'l. Economic Studies.       

     9504   Richardson, J. David & Smith, Pamela J.  Sectoral growth    
            across U.S. states: factor content, linkages, and trade.    
            49p.                                                        
     9507   Riezman, Raymond C., Summers, Peter M. & Whiteman, Charles  
            H.  The engines of growth in the APEC economies, 1950-1990. 
            21p.                                                        
     9506   Yang, Xiaokai & Ng, Siang.  Specialization and division of  
            labor: a survey.  73p.                                      

     UNIVERSITY OF ALBERTA.  Department of Economics.                   

     95-1   Boothe, P. & Finegan, B.A.  Changing the admission process  
            for elective surgery: an economic analysis.  14p.           
     9422   Howard, R., Ruggeri, G.C & Van Wart, D.  Federal tax changes
            and marginal tax rates, 1986 and 1993.  24p.                
     9423   McMillan, Melville L.  Continental economic integration: a  
            perspective on the relative threat to the Canadian          
            nation-state.  61p.                                         
     9421   Ryan, David L.  Income distribution effects in demand       
            systems.  26p.                                              
     95-2   Ryan, David L., Wang, Yu & Plourde, Andre.  Asymmetric price
            responses of residential energy demand.  46p.               
     95-7   Buse, A.  Testing homogeneity in the linearized almost ideal
            demand system.  25p.                                        
     95-3   Ruggeri, G.C., Van Wart, D. & Howard, R.  Fiscal incidence  
            as indicator of voters' preferences.  30p.                  
     95-6   Ruggeri, G.C., Van Wart, D. & Howard, R.  The government as 
            Robin Hood: exploring the myth.  211p.                      
     95-5   Ruggeri, G.C. & Hermanutz, D.  Leviathan revisited: the     
            growth of government spending in Canada since 1961.  97p.   
     95-4   Ruggeri, G.C. & Hermanutz, D.  Rethinking our spending      
            priorities.  30p.                                           
     95-9   Landon, Stuart & Smith, Constance E.  Quality expectations, 
            reputation and price.  30p.                                 
     95-8   Young, Denise & Ryan, David L.  Empirical testing of a      
            risk-adjusted Hotelling model.  47p.                        
     9511   Arnott, Richard, de Palma, Andre & Lindsey, Robin.  Recent  
            developments in the bottleneck model.  47p.                 
     9510   Landon, Stuart.  Institutional structure and education      
            spending.  35p.                                             

     UNIVERSIDAD DE ALICANTE.  Dept. de Fundamentos de Analisis Econ.   

     9417   Corchon, Luis & Wilkie, Simon.  Computers, productivity and 
            market structure.  20p.                                     



                                                           PAGE   2

     9416   Corchon, Luis & Gonzalez-Maestre, Miguel.  The importance of
            fixed costs in the design of trade policies: an exercise in 
            the theory of second best.  32p.                            
     9415   Herrero, Carmen.  Bargaining with reference points:         
            bargaining with claims: egalitarian solutions reexamined.   
            24p.                                                        
     9419   Chattopadhyay, Subir K.  Pareto optimal improvements for    
            sunspots: the golden rule as a target for stabilization.    
            22p.                                                        
     9418   Escobedo, M. Isabel & Mauleon, Ignacio.  Fiscal policy      
            restrictions in a monetary system: the case of Spain.  28p. 
     9504   Alcalde, Jose.  Exchange-proofness or divorce-proofness?:   
            stability in one-sided matching markets.  20p.              
     9505   Alcalde, Jose.  Implementation of stable solutions to       
            marriage problems.  20p.                                    
     9509   Chatterji, Shurojit.  Temporary equilibrium dynamics with   
            Bayesian learning.  16p.                                    
     9502   Corchon, Luis & Wilkie, Simon.  Implementation of the       
            Walrasian correspondence by market games.  24p.             
     9501   Gines, Miguel & Marhuenda, Francisco.  Cost monotonic       
            mechanisms.  28p.                                           
     9503   Guillo, Maria D..  Terms-of-trade and the current account: a
            two-country/two-sector growth model.  32p.                  
     9506   Herrero, Carmen.  Capabilities and utilities.  40p.         
     9507   Sanchez, M. Carmen.  Rational choice on nonfinite sets by   
            means of expansion-contraction axioms.  28p.                
     9508   Sanchez, M. Carmen & Peris, Jose E.  Veto in fixed agenda   
            social choice correspondences.  32p.                        
     9514   Baliga, Sandeep, Corchon, Luis & Sjostrom, Tomas.  The      
            theory of implementation when the planner is a player.  39p.
     9513   Herrero, Carmen.  Bargaining with claims in economic        
            environments.  28p.                                         
     9510   Llinares, Juan-Vincente.  Existence of maximal elements in a
            binary relation relaxing the convexity condition.  28p.     
     9515   Marhuenda, Francisco & Ortuno-Ortin, Ignacio.  Popular      
            support for progressive taxation.  11p.                     
     9511   Peris, Jose E. & Subiza, Begona.  Three kinds of utility    
            functions from the measure concept.  24p.                   
     9512   Villar, Antonio.  Classical equilibrium with increasing     
            returns.  40p.                                              
     9518   Corchon, Luis C. & Mas-Colell, Andreu.  A note on stability 
            of best reply and gradient systems with applications to     
            imperfectly competitive models.  16p.                       
     9517   Llinares, Juan-Vincente.  Unified treatment of the problem  
            of existence of maximal elements in binary relations, a     
            characterization.  40p.                                     
     9516   Sirvent, Ramon & Tomas, Josefa.  Expanded version of regret 
            theory: experimental test.  50p.                            

     ASOCIACION SUDEUROPA DE ECONOMICA TEORICA.  Econ. Disc. Papers.    

     119    Aguirre, Inaki, Espinosa, Maria P. & Macho-Stadler, Ines.   
            Strategic entry deterrence through spatial price            
            discrimination.  27p.                                       




                                                           PAGE   3

     123    Aubin, Christophe, et al.  Real-time pricing of electricity 
            demand: econometrics of an experiment.  22p.                
     133    Bajeaux, Isabelle & Rochet, Jean-Charles.  Dynamic spanning:
            are options an appropriate instrument?.  24p.               
     134    Caballe, Jordi & Pomansky, Alexey.  Mixed risk aversion.    
            32p.                                                        
     130    Campos e Cunha, Luis & Santos, Vasco.  Sleeping quotas,     
            pre-emptive quota bidding and monopoly power.  35p.         
     129    Cremer, Helmuth, De Rycke, Marc & Grimaud, Andre.           
            Alternative scenarios for the reform of postal services:    
            optimal pricing and welfare.  26p.                          
     127    Davidson, Rusell & MacKinnon, James G.  Graphical methods   
            for investigating the size and power of hypothesis tests.   
            23p.                                                        
     135    Jouvet, Pierre Andre & Soubeyran, Antoine.  General         
            equilibrium and stability of the labour-managed firm in an  
            overlapping generations model.  7p.                         
     120    Laussel, Didier & Le Breton, Michel.  On the tax schedule   
            Nash equilibria of a fiscal competition game, part 1: the   
            case of a continuum of investors.  26p.                     
     121    Laussel, Didier & Le Breton, Michel.  On the tax schedule   
            Nash equilibria of a fiscal competition game, part 2: the   
            large investor's case.  19p.                                
     131    Lismont, Luc & Mongin, Philippe.  Belief closure: a         
            semantics of common knowledge for modal proposition logic.  
            31p.                                                        
     126    Macho-Stadler, Ines & Perez-Castrillo, J. David.  Optimal   
            auditing with heterogeneous income sources.  29p.           
     125    Maskin, Eric & Tirole, Jean.  Markov perfect equilibrium.   
            46p.                                                        
     122    Nunes, Luis C., Newbold, Paul & Kuan, Chung-Ming.           
            Consistent estimation of the number of breaks with dependent
            errors.  16p.                                               
     136    Pastorello, Sergio, Renault, Eric & Touzi, Nizar.           
            Statistical inference for random variance option pricing.   
            35p.                                                        
     132    Ponsati, Clara & Sakovics, Jozsef.  Mediation is necessary  
            for sequentially efficient bargaining.  27p.                
     128    Ponsati, Clara & Watson, Joel.  Multiple issue bargaining   
            and axiomatic solutions.  29p.                              
     124    Vazquez, Jesus.  How high can inflation get during          
            hyperinflation?: a liquidity costs demand for money         
            approach.  35p.                                             
     105    Azariadis, Costas.  The problem of multiple equilibrium.    
            64p.                                                        
     106    Bauwens, L. & Lubrano, M.  Trends and breaking points of the
            Bayesian econometric literature.  35p.                      
     109    d'Aspremont, Claude, Cremer, Jacques & Gerard-Varet,        
            Louis-Andre.  Correlation, independence and Bayesian        
            implementation.  23p.                                       
     107    Moulin, Herve.  Cost sharing under increasing returns: a    
            comparison of simple mechanisms.  31p.                      
     108    Moulin, Herve.  Serial cost sharing of excludable public    
            goods.  37p.                                                




                                                           PAGE   4


     ATHENS UNIVERSITY OF ECONOMICS & BUSINESS.  Dept. of Economics.    

     62     Hay, Donald A. & Louri, Helen.  Demands for short term      
            assets and liabilities by U.K. quoted companies.  22p.      
     61     Pournarakis, Mike.  Inward foreign direct investment        
            activity in the European Union: integrating or              
            disintegrating effects?.  20p.                              
     63     Andrikopoulos, Andreas A, Prodromidis, Kyprianos P. &        
            Serletis, Apostolos.  Electoral and partisan cycle          
            regularities: a cointegration test.  23p.                   

     AUSTRALIAN NATIONAL UNIVERSITY.  Faculty of Economics.             

     280    Grant, Simon & Quiggin, John.  Capital precommitment and    
            competition in supply schedules.  17p.                      
     279    Grant, Simon & Quiggin, John.  The meeting place problem:   
            salience and search.  24p.                                  
     275    Hartley, Peter & Jones, Chris.  Asset holdings of           
            heterogeneous consumers with endogenous time preference.    
            35p.                                                        
     281    Hylleberg, S. & Pagan, A.R.  Seasonal integration and the   
            evolving seasonals model.  26p.                             
     278    Junankar, P.N. & Madsen, Jacob B.  Unemployment in the OECD:
            models, myths and mysteries.  25p.                          
     276    King, Stephen P.  Is breaking-up beneficial?: the           
            implications of divestiture for industry conduct.  27p.     
     282    Lim, Francis K.  On the distribution of lotto.  20p.        
     277    Pagan, A.R. & Robertson, J.C.  Resolving the liquidity      
            effect.  59p.                                               
     285    Aps, P.F. & Rees, R.  Household production, the costs of    
            children and equivalence scales.  30p.                      
     287    Dowrick, Steve & Quiggin, John.  True measure of GDP and    
            convergence: a non-parametric analysis of multilateral      
            bounds.  32p.                                               
     290    Falvey, Rod.  Trade liberalization and factor price         
            convergence.  22p.                                          
     291    Jones, Chris & Menezes, Flavio.  Auctions and corruption:   
            how to compensate the auctioneer.  20p.                     
     288    Kline, Jeff & Menezes, Flavio.  EPA emission permits        
            auctions.  16p.                                             
     286    Lau, Sau-Him Paul.  On the validity and identification of   
            long run restrictions for a cointegrated system.  12p.      
     289    Menezes, Flavio & Silva, Emilson C.D.  Sustainable clubs    
            under variable participation.  11p.                         
     284    Pagan, A.R., Hall, A.D. & Martin, V.  Modeling the term     
            structure.  29p.                                            
     283    Pagan, A.R. & Robertson, J.C.  Structural models of the     
            liquidity effect.  26p.                                     

     BANCO DE ESPANA.  Servicio de Estudios.                            

     9427   Bover, Olympia & Arellano, Manuel.  Female labour force     
            participation in the 1980s: the case of Spain.  44p.        




                                                           PAGE   5

     9428   Penalosa, Juan M.  The Spanish catching-up process: general 
            determinants and contributions of the manufacturing         
            industry.  68p.                                             
     9506   Estrada, Angel & Valles, Javier.  Investment and financial  
            costs: Spanish evidence with panel data.  41p.              
     9504   Mestre, Ricardo.  A macroeconomic evaluation of the Spanish 
            monetary policy transmission mechanism.  42p.               
     9505   Restoy, Fernando & Revenga, Ana.  Optimal exchange rate     
            flexibility in an economy with intersectoral rigidities and 
            nontraded goods.  38p.                                      
     9422   Vega, Juan Luis.  Is the ALP (liquid assets held by the     
            public) long-run demand function stable?.  27p.             
     9515   Restoy, Fernando & Weil, Philippe.  Approximate equilibrium 
            asset prices.  29p.                                         
     9517   Revenga, Ana L. & Bentolila, Samuel.  What affects the      
            employment rate intensity of growth?.  35p.                 
     9523   Argimon, Isabel, Gonzalez-Paramo, Jose M. & Roldan Alegre,  
            Jose M.  Does public spending crowd out private investment?:
            evidence from a panel of 14 OECD countries.  25p.           

     UNIVERSIDAD AUTONOMA DE BARCELONA.  Dept. de Economia et de Emet.  

     277    Burguet, Roberto & Sakovics, Jozsef.  Reserve prices without
            commitment.  17p.                                           
     267    Creel, Michael D.  A semi-nonparametric distribution free   
            estimator for binary discrete responses.  36p.              
     265    Farell, Montserrat.  A Fourier cost model for the           
            deregulated U.S. airlines.  34p.                            
     259    Hamoudi, Hamid.  Equilibrium in the circle model with       
            concave transportation costs.  22p.                         
     269    Sakovics, Jozsef.  Mirage equilibria.  25p.                 
     266    Bergantinos, Gustavo & Masso, Jordi.  Notes on a new        
            compromise value: the X-value.  26p.                        
     268    Creel, Michael D.  Semi-nonparametric distribution-free     
            estimator of the probability of employment.  20p.           
     280    Danielson, John.  Multivariate stochastic volatility:       
            simulated likelihood estimation.  27p.                      
     258    da Rocha Alvarez, Jose M.  Horizontal competition in a      
            regulated market with joint production and adverse          
            selection.  26p.                                            
     278    de la Fuente, Angel & Vives, Xavier.  Education,            
            infrastructure and regional inequality: evidence from Spain 
            and implications for regional policy.  70p.                 
     270    de la Fuente, Angel.  A note on incentives and researcher   
            productivity in the Spanish public institutions.  11p.      
     243    Kuhn, Kai-Uwe.  Nonlinear pricing in vertically related     
            duopolies.  35p.                                            
     242    Kuhn, Kai-Uwe & Padilla, A. Jorge.  Product line decisions  
            and the Coase conjecture.  34p.                             
     262    Kuhn, Kai-Uwe & Vives, Xavier.  Excess entry, vertical      
            integration, and welfare.  49p.                             
     281    Macho-Stadler, Ines, Perez-Castrillo, David & Ponsati,      
            Clara.  Stable multilateral trade agreements.  29p.         
     260    Marmol, Francesc.  Nonsense regressions between integrated  
            processes of different orders.  25p.                        



                                                           PAGE   6

     263    Petith, Howard C.  Natural resources and growth: endogenous 
            Cobb-Douglas justifies balance theory in the face of highly 
            regarded elast.  25p.                                       
     232    Petith, Howard C.  Why land grows more slowly than labour.  
            26p.                                                        
     272    Robson, A. & Wooders, M.  The growth-maximizing distribution
            of income.  31p.                                            
     274    Adsera, Alicia & Ray, Debraj.  More on history versus       
            expectations.  8p.                                          
     282    Burguet, Roberto & Fernandez, Jorge.  A simple model of     
            development traps with public capital: taxes and external   
            debt.  23p.                                                 
     285    Caminal, Ramon.  Price advertising and coupons in a monopoly
            model.  23p.                                                
     279    Page, Frank H. & Wooders, Myrna H.  The partnered core of an
            economy.  11p.                                              
     286    Wooders, Myrna H.  Partnership and the commonwealth core.   
            7p.                                                         
     284    Cabeza-Gutes, Maite.  On the concept of weak sustainability.
             20p.                                                       
     288    de Frutos, M.A. & Masso, J.  More on the uniform allocation 
            rule: equality and consistency.  16p.                       
     289    de Frutos, M.A. & Masso, J.  The uniform allocation rule and
            the nucleolus.  5p.                                         
     287    Macho-Stadler, I. & Perez-Castrillo, D.  Random audits in   
            tax evasion models.  14p.                                   
     291    Medrano-Adan, Luis A.  Market versus limit orders in an     
            imperfectly competitive security market.  41p.              
     257    Bacchetta, Philippe.  Regional investment and growth in the 
            European Community.  53p.                                   
     292    Barbera, Salvador.  Notes on strategy-proof social choice   
            functions.  24p.                                            
     255    Caminal, Ramon.  Financial intermediation and the optimal   
            tax system.  38p.                                           
     256    Caminal, Ramon.  Nominal rigidities and market structure:   
            some macroeconomic implications.  31p.                      
     294    de la Fuente, Angel.  The empirics of growth and            
            convergence: a selective review.  57p.                      
     293    Hamoudi, H. & Jarque, X.  Convex and concave transportation 
            cost in spatial competition.  15p.                          
     290    Macho-Stadler, I. & Perez-Castrillo, D.  Optimal auditing   
            when some individuals are tax-return exempt.  20p.          
     271    Page, Frank H. & Wooders, Myrna H.  Arbitrage in markets    
            with unbounded short sales: necessary and sufficient        
            conditions for nonemptiness of the core a.  28p.            
     261    Perez-Castrillo, J. David & Sandonis, Joel.  Disclosure of  
            know-how in research joint ventures.  30p.                  
     254    Regibeau, Pierre & Rockett, Katharine E.  The timing of     
            product introduction and the credibility of compatibility   
            decisions.  32p.                                            
     295    Bolton, Gary E. & Katok, Elena.  An experimental test of the
            crowding out hypothesis: the nature of beneficient behavior.
             24p.                                                       
     296    Manove, Michael.  Entrepreneurs, optimism, and the          
            competitive edge.  25p.                                     



                                                           PAGE   7

     300    Maschler, Michael.  Games of incomplete information: the    
            inconsistent case.  6p.                                     
     297    Petith, Howard C.  The Hound of the Baskervilles: natural   
            resources in Marx's explanation of the falling rate of      
            profit.  12p.                                               
     299    Vettas, Nicholas.  Entry, exit, and coordination with mixed 
            strategies.  30p.                                           

     UNIVERSITAT BONN.  Sonderforschungsbereich 303.                    

     A-381  Constantinides, George M. & Duffie, Darrel.  Asset pricing  
            with heterogeneous consumers.  25p.                         

     BOSTON UNIVERSITY.  Department of Economics.                       

     33     Gonzalo, Jesus & Pitarakis, Jean-Yves.  Comovements in large
            systems.  42p.                                              
     34     Eaton, Jonathan & Kortum, Samuel.  Trade in ideas: patenting
            and productivity in the OECD.  37p.                         
     35     Gonzalo, Jesus & Pitarakis, Jean-Yves.  On the exact moments
            of non-standard asymptotic distributions in non stationary  
            autoregressions with dependent erro.  22p.                  
     36     Gonzalo, Jesus & Lee, Tae-Hwy.  Relative power of t type    
            tests for stationary and unit root processes.  17p.         
     38     Gonzalo, Jesus & Lee, Tae-Hwy.  Pitfalls in testing for long
            run relationships.  40p.                                    
     37     Eaton, Jonathan & Fernandez, Raquel.  Sovereign debt.  59p. 

     BOSTON UNIVERSITY.  Dept. of Econ-Industry Studies Program.        

     54     Amann, Erwin & Yang, Chun-Lei.  The robustness of a         
            sophisticated mutant in an evolutionary model of            
            cooperation.  17p.                                          
     53     Yang, Chun-Lei.  Evolution of cooperation with a            
            knowledgeable mutant.  26p.                                 
     55     Donald, Stephen G. & Sappington, David E.M.  Explaining the 
            choice among regulatory plans in the U.S. telecommunications
            industry.  47p.                                             
     57     Cabral, Luis M.B. & Riordan, Michael H.  Predation with a   
            learning curve.  35p.                                       
     56     Krishna, Vijay & Rosenthal, Robert.  Simultaneous auctions  
            with synergies.  36p.                                       
     58     Minehart, Deborah & Scotchmer, Suzanne.  Ex post regret and 
            the decentralized sharing of information.  31p.             
     59     Ma, Ching-to Albert & McGuire, Thomas G.  Optimal health    
            insurance and provider payment.  35p.                       
     60     Rosenthal, Robert W. & Wang, Ruqu.  Simultaneous auctions   
            with synergies and common values.  22p.                     
     62     Cooper, Russell, Haltiwanger, John & Power, Laura.  Machine 
            replacement and the business cycle: lumps and bumps.  52p.  
     61     Ma, Ching-to Albert.  Option contracts and vertical         
            foreclosure.  24p.                                          

     BOSTON UNIVERSITY.  Institute for Economic Development.            

     52     Das Gupta, Arindam & Mookherjee, Dilip.  Reforming Indian   
            income tax enforcement.  41p.                               

                                                           PAGE   8

     53     Das Gupta, Arindam & Mokherjee, Dilip.  Tax amnesties in    
            India: an empirical evaluation.  25p.                       
     57     Das Gupta, Arindam, Lahiri, Radhika & Mookherjee, Dilip.    
            Income tax compliance in India: an empirical analysis.  38p.
     59     Eaton, Jonathan & Fernandez, Raquel.  Sovereign debt.  59p. 
     60     Kabiraj, Tarun.  To protect or not to protect foreign owned 
            patents: a strategic decision.  23p.                        
     54     Rogoff, Kenneth.  What remains of purchasing power parity?. 
            32p.                                                        

     BROWN UNIVERSITY.  Department of Economics.                        

     9513   Asdrubali, Pierfederico, Sorensen, Bent E. & Yosha, Oved.   
            Channels of interestate risksharing: U.S. 1963-1990.  29p.  
     95-9   Baliga, Sandeep & Serrano, Roberto.  Negotiations with      
            side-deals.  20p.                                           
     9414   Betocchi, Graziella.  Colonialism in the theory of growth.  
            17p.                                                        
     9512   Bertocchi, Graziella & Spagat, Michael.  Growth under       
            uncertainty with experimentation.  27p.                     
     9415   Fan, C. Simon & Spagat, Michael.  Human capital and long-run
            growth in Russia: a cautionary perspective.  31p.           
     9421   Feldman, Allan M.  The value of life.  37p.                 
     95-5   Friedberg, Rachel M. & Hunt, Jennifer.  The impact of       
            immigrants on host country wages, employment and growth.    
            39p.                                                        
     95-7   Gozalo, Pedro L.  Nonparametric bootstrap analysis with     
            application to Engel demand curves.  39p.                   
     95-1   Grossman, Herschel I.  Chapter 8: Insurrections.  32p.      
     95-2   Grossman, Herschel I.  The economics of revolutions.  24p.  
     9413   Ho, Mun S. & Sorensen, Bent E.  On the econometrics of      
            public capital and long-run productivity.  28p.             
     95-4   Keane, Michael & Moffitt, Robert.  A structural model of    
            multiple welfare program participation and labor supply.    
            40p.                                                        
     9410   Lach, Saul & Tsiddon, Daniel.  Staggering and               
            synchronization in price-setting: evidence from multiproduct
            firms.  56p.                                                
     95-3   Lancaster, Tony.  Exact structural inference in optimal job 
            search models.  55p.                                        
     94-8   Lim, Guay C. & Stein, Jerome L.  The dynamics of the real   
            exchange rate and current account in a small open economy:  
            Australia.  47p.                                            
     9419   Serrano, Roberto & Zapater, Inigo.  The three-legged race:  
            cooperating to compete.  20p.                               
     9511   Shimomura, Ken-ichi.  The bargaining set and coalition      
            formation.  26p.                                            
     9510   Shimomura, Ken-ichi.  Reversibility does not convert the    
            equilibrium existence theorem.  12p.                        
     95-8   Stein, Jerome L.  The fundamental determinants of the real  
            exchange rate of the U.S. dollar relative to the G7.  38p.  
     94-9   Stein, Jerome L.  International finance theory and empirical
            reality.  28p.                                              
     94-7   Stein, Jerome L.  The natural real exchange of the U.S.     
            dollar and determinants of capital flows.  54p.             



                                                           PAGE   9

     95-6   Vohra, Rajiv.  Coalitional non-cooperative approaches to    
            cooperation.  15p.                                          
     9418   Yafeh, Yishay & Yosha, Oved.  Large share holders, banks and
            managerial moral hazard: an empirical investigation.  29p.  
     9411   Yosha, Oved.  Competitive disadvantage induced by disclosure
            regulations: a welfare analysis.  20p.                      
     94-6   Andersen, Torben G. & Sorensen, Bent E.  GMM estimation of a
            stochastic volatility model: a Monte Carlo study.  67p.     
     9420   Canner, Niko, Mankiw, N. Gregory & Weil, David N.  An asset 
            allocation puzzle.  33p.                                    
     9423   Elul, Ronel.  Welfare effects of financial innovation in    
            incomplete markets economies with several consumption goods.
             50p.                                                       
     9422   Elul, Ronel.  Welfare-improving financial innovation with a 
            single good.  23p.                                          
     9417   Gozalo, Pedro L.  Nonparametric testing in high dimensional 
            spaces via data-dependent partitioning.  58p.               
     9427   Grossman, Herschel I. & Kim, Minseong.  Predation and       
            production.  18p.                                           
     9412   Grossman, Herschel I. & Kim, Minseong.  Swords or           
            plowshares?: a theory of the security of claims to property.
             25p.                                                       
     9424   Ho, Mun S. & Sorensen, Bent E.  Finding cointegration rank  
            in high dimensional systems using the Johansen test: an     
            illustration using data-based Mo.  18p.                     
     9425   Perraudin, William & Sorensen, Bent.  Modeling exchange     
            rates in continuous time: theory, estimation and option     
            pricing.  31p.                                              
     9426   Shimomura, Ken-Ichi.  Quasi-cores in bargaining sets.  22p. 
     9416   Spagat, Michael.  Human capital, instability and foreign    
            investment in transition economies.  27p.                   

     STATE UNIVERSITY OF NEW YORK AT BUFFALO.  Department of Economics. 

     9412   Anbarci, Nejat.  Reference functions and balanced           
            concessions in bargaining.  11p.                            
     9413   Anbarci, Nejat.  Simple characterizations of the Nash and   
            Kalai Smordinsky solutions.  7p.                            
     9410   Holmes, James M. & Hutton, Patricia A.  Keynesian           
            involuntary unemployment and sticky nominal wages.  34p.    
     9411   Morgan, Peter B.  A model of search, coordination and market
            segmentation.  35p.                                         
     9501   Brown, Murray & Chiang, Shin Hwan.  Endogenous industry     
            structure and noncooperative coalition analysis.  15p.      
     9502   Brown, Murray & Chiang, Shin Hwan.  Managerial incentives   
            with endogenous market structure.  16p.                     

     CALIFORNIA INSTITUTE OF TECHNOLOGY.  Div. of the Human. & Soc. Sci.

     905    Alvarez, R. Michael.  Two-stage estimation of non-recursive 
            choice models.  36p.                                        
     902    Alvarez, R. Michael & Nagler, Jonathan.  Voter choice in    
            1992: economics, issues, and anger.  33p.                   
     886    Chander, Parkash & Tulkens, Henry.  The core of an economy  
            with multilateral environmental externalities.  21p.        



                                                           PAGE  10

     901    Ordeshook, Peter C. & Zeng, Langche.  Rational voters and   
            strategic voting: evidence from the 1968, 1980, and 1992    
            elections.  28p.                                            
     903    Page, Scott E., Kollman, Ken & Miller, John H.  Landscape   
            formation in a spatial voting model.  28p.                  
     904    Sherstyuk, Katerina.  The formation of multiple teams.  45p.
     898    Alvarez, R. Michael & Saving, Jason.  Congressional         
            commttees and the political economy of federal outlays.     
            20p.                                                        
     914    Alvarez, R. Michael & Nagler, Jonathan.  Correlated         
            disturbances in discrete choice models: a comparison of     
            multinomial probit models and logit models.  29p.           
     892    Banks, Jeffrey, Olson, Mark & Porter, David.  An            
            experimental analysis of the two-armed bandit problem.  31p.
     916    Bykowsky, Mark M., Cull, Robert J. & Ledyard, John O.       
            Mutually destructive bidding: the FCC auction design        
            problem.  36p.                                              
     897    Chander, Parkash & Tulkens, Henry.  A core-theoretic        
            solution for the design of cooperative agreements on        
            transfrontier pollution.  16p.                              
     906    Jamison, Julian C. & Plott, Charles R.  Costly offers and   
            the equilibration properties of the multiple unit double    
            auction under conditions of unpredictabl.  28p.             
     909    Myagkov, Mikhail & Plott, Charles R.  Exchange economies and
            loss exposure: experiments exploring prospect theory and    
            competitive equilibria in market en.  70p.                  
     911    Plott, Charles R. & Turocy, Theodore L.  Intertemporal      
            speculation under conditions of uncertain future demand and 
            an endogenous, non-public number of specu.  48p.            
     919    El-Gamal, Mahmoud A. & Grether, David M.  Are people        
            Bayesian?: uncovering behavioral strategies.  19p.          
     913    Fohlin, Caroline M.  Relationship banking and firm liquidity
            constraints: evidence from the heyday of the German         
            universal banks.  28p.                                      
     915    Kousser, J. Morgan.  Shaw vs. Reno and the real world of    
            redistricting and representation.  119p.                    
     917    Ledyard, John O., Noussair, Charles & Porter, David.  The   
            allocation of a shared resource within an organization.     
            52p.                                                        
     908    Noussair, Charles N., Plott, Charles R. & Riezman, Raymond  
            G.  The principles of exchange rate determination in an     
            international finance experiment.  42p.                     
     922    Alvarez, R. Michael.  The dynamics of issue emphasis:       
            campaign strategy and media coverage in statewide races.    
            25p.                                                        
     923    Border, Kim C. & Segal, Uzi.  Perferences over solutions to 
            the bargaining problem.  21p.                               
     920    Knez, Marc J. & Camerer, Colin F.  Outside options and      
            social comparison in three-player ultimatum game            
            experiments.  41p.                                          
     924    Ordeshook, Peter C.  Constitutions for new democracies:     
            reflections of turmoil or agents of stability?.  16p.       
     882    Ordeshook, Peter C. & Shvetsova, Olga.  Russia, federalism, 
            and political stability.  144p.                             




                                                           PAGE  11

     862    Plott, Charles R.  Rational individual behaviour in markets 
            and social choice processes.  40p.                          
     933    Alvarez, R. Michael.  Hamilton's political economy and the  
            national bank.  24p.                                        
     934    Alvarez, R. Michael.  The new republic and the new          
            institutionalism: Hamilton's plan and extra legislative     
            organization.  25p.                                         
     935    Alvarez, R. Michael & Brehm, John.  Are Americans ambivalent
            towards racial policies?.  27p.                             
     928    Alvarez, R. Michael & Saving, Jason.  Deficits, democrats,  
            and distributive benefits: congressional elections and the  
            pork barrel in the 1980s.  20p.                             
     932    Alvarez, R. Michael, Canon, David T. & Sellers, Patrick.    
            The impact of primaries on general election outcomes in the 
            U.S. House and Senate.  20p.                                
     929    Kousser, J. Morgan.  Estimating the partisan consequences of
            redistricting plans - simply.  36p.                         
     888    Ordeshook, Peter C. & Shvetsova, Olga.  If Hamilton and     
            Madison were merely lucky, what hope is there for Russian   
            federalism?.  24p.                                          
     927    Page, Scott E.  Two measures of difficulty.  33p.           
     926    Page, Scott E., Kollman, Ken & Miller, John H.  A comparison
            of political institutions in a Tiebout model.  27p.         

     UNIVERSITY OF CALIFORNIA-BERKELEY.  Department of Economics.       

     233    Shannon, Chris.  Determinacy in infinite horizon exchange   
            economies.  57p.                                            
     235    Anderson, Robert M. & Zame, William R.  Edgeworth's         
            conjecture with infinitely many commodities.  109p.         
     234    Craine, Roger.  Fairly priced deposit insurance and bank    
            charter policy.  24p.                                       
     236    Foreman, Stephen E. & Keeler, Theodore E.  Regulation,      
            competition and cross-subsidization in hospital care:       
            lessons from the economics of regulation.  27p.             
     237    Train, Kenneth E.  Simulation methods for probit and related
            models based on convenient error partitioning.  14p.        
     240    Branstetter, Lee, et al.  The time series relationship      
            between investment and cash flow in the scientific sector: a
            panel data study.  46p.                                     
     238    Edlin, Aaron S. & Shannon, Chris.  Strict monotonicity in   
            comparative statics.  15p.                                  
     239    O'Regan, Katherine M. & Quigley, John M.  Teenage employment
            and the spatial isolation of minority and poverty           
            households.  19p.                                           
     241    Rabin, Matthew.  Moral preferences, moral constraints, and  
            self-serving biases.  44p.                                  

     UNIV. OF CALIFORNIA-BERKELEY. Ctr. for Int'l. & Devel. Econ. Res.  

     45     Eichengreen, Barry, Tobin, James & Wyplosz, Charles.  Two   
            cases for sand in the wheels of international finance.  20p.
     44     Obstfeld, Maurice & Rogoff, Kenneth.  The intertemporal     
            approach to the current account.  75p.                      




                                                           PAGE  12

     47     Eichengreen, Barry, Rose, Andrew K. & Wyplosz, Charles.  Is 
            there a safe passage to EMU?: evidence on capital controls  
            and a proposal.  41p.                                       
     46     Eichengreen, Barry, Rose, Andrew K. & Wyplosz, Charles.     
            Speculative attacks on pegged exchange rates: an empirical  
            exploration with special reference to the European Monet.   
            49p.                                                        
     48     Obstfeld, Maurice & Rogoff, Kenneth.  Exchange rate dynamics
            redux.  41p.                                                
     49     Eichengreen, Barry & Hsieh, Chang-Tai.  Sterling in decline 
            again: the 1931 and 1992 crises compared.  38p.             
     52     Frankel, Jeffrey A. & Rose, Andrew K.  A panel project on   
            purchasing power parity: mean reversion within and between  
            countries.  21p.                                            
     51     Frankel, Jeffrey A. & Rose, Andrew K.  A survey of empirical
            research on nominal exchange rates.  61p.                   
     53     Frankel, Jeffrey A. & Wei, Shang-Jin.  European integration 
            and the regionalization of world trade and currencies: the  
            economics and the politics.  55p.                           
     50     Frankel, Jeffrey A., Romer, David & Cyrus, Teresa.  Trade   
            and growth in East Asian countries: cause and effect?.  26p.

     UNIVERSITY OF CALIFORNIA-LOS ANGELES.  Department of Economics.    

     722    Benhabib, Jess & Farmer, Roger E.A.  Indeterminacy and      
            sector-specific externalities.  25p.                        
     724    Bennett, Elaine, Maschler, Michael & Zame, William.  A      
            demand adjustment process.  20p.                            
     721s   Calcott, Paul.  Health plan competition and the costs of    
            employer provided health insurance.  29p.                   
     728    Cukierman, Alex & Tommasi, Mariano.  Why does it take a     
            Nixon to go to China?.  28p.                                
     730    Dick, Andrew R.  Explaining managed trade as rational       
            cheating.  28p.                                             
     731    Dick, Andrew R.  When are cartels stable contracts?.  53p.  
     729    Dick, Andrew R.  Where do cartels form?: antitrust screens  
            and the cost of cartel transactions.  36p.                  
     720    Farmer, Roger E.A. & Guo, Jang-Ting.  The econometrics of   
            indeterminacy: an applied study.  38p.                      
     727    Hirshleifer, Jack.  Theorizing about conflict.  46p.        
     723    Lal, Deepak.  The minimum wage.  29p.                       
     726    Somers, Harold M.  Retroactive taxation: a triumph of law   
            over economics?: United States vs. Carlton (1994).  18p.    
     725    Zame, W.R., Abramovich, Y.A. & Aliprantis, C.D.  A          
            representation theorem for Riesz spaces and its applicatios 
            to economics.  11p.                                         

     UNIVERSITY OF CALIFORNIA-SAN DIEGO.  Department of Economics.      

     9429   Bagwell, Kyle, Ramey, Garey & Spulber, Daniel F.  Dynamic   
            retail price and investment competition.  32p.              
     9418   Betts, Julian R.  The skill bias of technological change in 
            Canadian manufacturing industries.  40p.                    
     9421   Chen, Xiaohong & White, Halbert.  Nonparametric adaptive    
            learning with feedback.  43p.                               



                                                           PAGE  13

     9417   Christiano, Lawrence J. & Den Haan, Wouter.  Small sample   
            properties of GMM for business cycle analysis.  60p.        
     9430   Den Haan, Wouter J. & Levin, Andrew.  Inference from        
            parametric and non-parametric covariance matrix estimation  
            procedures.  42p.                                           
     9428   Elliott, Graham.  Efficient tests for a unit root when the  
            initial observation is drawn from its unconditional         
            distribution.  48p.                                         
     9427   Engle, Robert F. & Russell, Jeffrey R.  Forecasting         
            transaction rates: the autoregressive conditional duration  
            model.  46p.                                                
     9425   Engle, Robert F. & Rosenberg, Joshua.  Hedging options in a 
            GARCH environment: testing the term structure of stochastic 
            volatility models.  35p.                                    
     9419   Granger, C.W.J. & Ding, Zhuanxin.  Stylized facts on the    
            temporal and distributional properties of daily data from   
            speculative markets.  28p.                                  
     9424   Hamilton, James D.  Rational expectations and the economic  
            consequences of changes in regime.  31p.                    
     9422   Macho-Stadler, Ines & Perez-Castrillo, J. David.  Optimal   
            auditing with heterogeneous income sources.  28p.           
     9423   Najberg, Sheila & Ramey, Garey.  Bargains and ripoffs in an 
            inflationary economy.  47p.                                 
     9426   Satchell, Steve & Timmermann, Allan.  On the optimality of  
            adaptive expectations: Muth revisited.  18p.                
     9420   Watson, Joel.  Strategy perturbations in repeated games as  
            rules of thumb.  23p.                                       
     1/95   Hahm, Joon-Ho.  Consumption growth, income growth and       
            earnings uncertainty.  33p.                                 
     9233   Bagwell, Kyle & Ramey, Garey.  Advertising as information:  
            matching products to buyers.  33p.                          
     9245   Bagwell, Kyle & Ramey, Garey.  The Diamond paradox: a       
            dynamic resolution.  38p.                                   
     9229   Blume, Andreas, Kim, Yong-Gwan & Sobel, Joel.  Evolutionary 
            stability in games of communication.  34p.                  
     9246   Chen, Xiaohong & White, Halbert.  Asymptotic properties of  
            some projection-based Robbins-Monro procedures in a Hilbert 
            space.  49p.                                                
     9235   Chen, Xiaohong & White, Halbert.  Central limit and         
            functional central limit theorems for Hilbert space-valued  
            dependent processes.  42p.                                  
     9241   Den Haan, Wouter J.  Convergence in stochastic models: the  
            importance of the share of capital in GNP in the presence of
            productivity sho.  22p.                                     
     9230   Den Haan, Wouter J. & Marcet, Albert.  Accuracy in          
            simulations.  29p.                                          
     9231   Eitrheim, Oyvind.  Inference in small cointegrated systems: 
            some Monte Carlo results.  69p.                             
     9244r  Engle, Robert F. & Lee, Gary G.J.  A permanent and          
            transitory component model of stock return volatility.  29p.
     9249   Engle, Robert, et al.  Short-run forecasts of elctricity    
            loads and peaks.  51p.                                      
     9252   Flores de Frutos, Rafael & Pereira, Alfredo M.  Testing     
            theories of economic fluctuations and growth in early       
            development (the case of the Chesapeake Tobacco Compa.  28p.



                                                           PAGE  14

     9227   Gaspar, Vitor & Pereira, Alfredo M.  A dynamic general      
            equilibrium analysis of E.C. structural funds (with an      
            application to Portugal).  60p.                             
     9253r  Granger, Clive W.J. & Swanson, Norman R.  An introduction to
            stochastic unit root processes.  34p.                       
     9242r  Groves, Theodore.  Two essays on voting procedures and the  
            budget deficit: `A theorem of voting rules & budget         
            deficits' & `Solving th.  21p.                              
     9236   Groves, Theodore, et al.  China's evolving managerial labor 
            market.  29p.                                               
     9248   Groves, Theodore, Stinchcombe, Maxwell B. & Viladrich,      
            Montserrat.  Optimal monitoring of oil spills: control in a 
            stochastic, dynamic context.  41p.                          
     9251   Konishi, Toru & Granger, C.W.J.  Separation in cointegrated 
            systems.  55p.                                              
     9238   Lin, Wen-Ling, Engle, Robert F. & Ito, Takatoshi.  Do bulls 
            and bears move across borders?: international transmission  
            of stock returns and volatility as the world tu.  38p.      
     9240   Nishimura, Kazuo & Raut, Lakshmi K.  Family expansion and   
            capital accumulation of a dynasty.  24p.                    
     9243   Osang, Thomas & Pereira, Alfredo.  Human capital            
            accumulation and the dynamic effects of international trade.
             32p.                                                       
     9228   Rauch, James E.  Balanced and unbalanced growth.  47p.      
     9254   Raut, Lakshmi K.  Subgame perfect manipulation of children  
            by overlapping generations of agents with two-sided altruism
            and endogenou.  29p.                                        
     9237   Raut, Lakshmi K. & Srinivasan, T.N.  Theories of long-run   
            growth: old and new.  32p.                                  
     9232   Shen, Pu & Starr, Ross M.  Liquidity of the Treasury bill   
            market and the term structure of interest rates.  25p.      
     9247   Sin, Chor-Yiu & White, Halbert.  Information criteria for   
            selecting possibly misspecified parametric models.  57p.    
     9234   Stinchcombe, Maxwell B.  When approximate results are       
            enough: the use of nonstandard versions of infinite sets in 
            economics.  39p.                                            
     9250   Swanson, Norman R. & Granger, C.W.J.  Impulse response      
            functions based on a causal approach to residual            
            orthogonalizations in vector autoregressions.  42p.         
     9239   Swanson, Norman R. & White, Halbert.  A model selection     
            approach to assessing the information in the term structure 
            using linear models and artificial ne.  44p.                
     9513   Aparicio Acosta, F.M. & Granger, Clive W.J.                 
            Information-theoretic schemes for linearity testing under   
            long-range dependence and cointegration.  39p.              
     9512   Aparicio Acosta, F.M. & Granger, Clive W.J.  A linearity    
            test for near-unit root time series.  52p.                  
     9515   Aparicio Acosta, F.M & Granger, Clive W.J.  Nonlinear       
            cointegration and some new tests for comovements.  52p.     
     9514   Aparicio Acosta, F.M. & Granger, Clive W.J.  A tutorial on  
            linearity testing under long range dependence and           
            cointegration.  66p.                                        
     9526   Battigalli, Pierpaolo & Watson, Joel.  On "reputation"      
            refinements with heterogeneous beliefs.  12p.               




                                                           PAGE  15

     9507   Betts, Julian R.  What do students know about wages?:       
            evidence from a survey of undergraduates.  42p.             
     9503   Betts, Julian R.  Which types of public school spending are 
            most effective?: new evidence on the school quality debate. 
            34p.                                                        
     9502   Carson, Richard T., et al.  Contingent valuation and lost   
            passive use: damages from the Exxon Valdez.  37p.           
     9505   Carson, Richard T.  Contingent valuation surveys and test of
            insensitivity to scope.  44p.                               
     9521   Carson, Richard, Flores, Nicholas E. & Hanemann, W. Michael.
             On the creation and destruction of public goods: the matter
            of sequencing.  25p.                                        
     9501   Carson, Richard T., Flores, Nicholas E. & Mitchell, Robert  
            C.  The theory and measurement of passive use value.  50p.  
     9504   Carson, Richard T.  Valuation of tropical rainforests:      
            philosophical and practical issues in the use of contingent 
            valuation.  33p.                                            
     9524   Den Haan, Wouter J..  The comovements between real activity 
            and prices at different business cycle frequencies.  26p.   
     9517   Den Haan, Wouter J. & Spear, Scott A.  Volatility clustering
            in real interest rates: theory and evidence.  45p.          
     9518   Elliott, Graham.  On the robustness of cointegration methods
            when regressors almost have unit roots.  41p.               
     9525   Engle, Robert F. & Rosenberg, Joshua V.  GARCH gamma.  25p. 
     9510   Evans, George W. & Ramey, Garey.  Calculation, adaptation   
            and rational expectations.  38p.                            
     9520   Flores, Nicholas E.  The effects of rationing and virtual   
            price elasticities.  26p.                                   
     9527   Granger, Clive W.J.  Can we improve the perceived quality of
            economic forecasts?.  27p.                                  
     9511   Granger, Clive W.J. & Swanson, Norman.  Further developments
            in the study of cointegrated variables.  21p.               
     9509   Hamilton, James D.  The daily market for federal funds.     
            47p.                                                        
     9522   Hamilton, James D. & Perez-Quiros, Gabriel.  What do the    
            leading indicators lead?.  40p.                             
     9506   Miles, David & Timmermann, Allan.  Variation in expected    
            stock returns: evidence on the pricing of equities from a   
            cross section of U.K. companies.  28p.                      
     9508   Odgers, Cameron & Betts, Julian R.  Do unions reduce        
            investment?.  23p.                                          
     9519   Pesaran, M. Hashem & Timmermann, Allan.  Predictability of  
            stock returns: robustness and economic significance.  42p.  
     9528   Robles, Jack.  Evolution with changing mutation rates.  38p.
     9516   Satchell, Steve & Timmermann, Allan.  An assessment of the  
            economic value of nonlinear foreign exchange rate forecasts.
             27p.                                                       
     9523   Timmermann, Allan.  Volatility clustering and mean reversion
            of stock reutrns in an asset pricing model with incomplete  
            learning.  43p.                                             

     UNIVERSITY OF CALIFORNIA-SANTA BARBARA.  Department of Economics.  

     22/94  Crownover, Collin, Pippenger, John & Steigerwald, Douglas C.
             Testing for absolute purchasing power parity.  15p.        



                                                           PAGE  16

     21/94  Funkhouser, Edward.  Changes in the returns to education in 
            Costa Rica.  40p.                                           
     25/94  Funkhouser, Edward.  Demand-side and supply-side            
            explanations for barriers to labor market mobility in       
            developing countries: the case of.  42p.                    
     20/94  Funkhouser, Edward.  Labor market adjustment to political   
            conflict: changes in the labor market in El Salvador during 
            the 1980s.  38p.                                            
     24/94  Funkhouser, Edward.  The sources of hourly earnings         
            variation in the large scale sector of Guatemala.  28p.     
     23/94  Funkhouser, Edward.  The urban informal sector in Central   
            America: household survey evidence.  59p.                   
     16/94  Shapiro, Perry & Deacon, Robert T.  Estimating the demand   
            for public goods: comments and extensions.  24p.            
     18/94  Shapiro, Perry & Petchey, Jeffrey.  Federal stability and   
            secession.  30p.                                            
     19/94  Petchey, Jeffrey & Shapiro, Perry.  "One people one         
            destiny": the concentration of power and conflicts of       
            interest in Australian federalism.  21p.                    
     17/94  Steigerwald, Douglas C.  Conditional heteroscedasticity     
            modeling in macroeconomics and finance.  6p.                
     2/95   Frech, H.E.  Physician fees and price controls.  33p.       
     4/95   Funkhouser, Edward.  A profile of Salvadoran emigration.    
            44p.                                                        
     3/95   Linton, Oliver B. & Steigerwald, Douglas G.  Adaptive       
            testing in ARCH models.  43p.                               
     5/95   Shapiro, Perry & Petchey, Jeff.  The welfare economics of   
            environmental regulatory authority: two parables on state   
            vs. federal control.  23p.                                  
     7/95   Comanor, William S. & Phillips, Llad.  The impact of income 
            and family structure on deliquency.  19p.                   
     8/95   Deacon, Robert T.  Nonrenewable resources and the           
            environment.  29p.                                          
     6/95   Xing, Yuqing & Kolsted, Charles D.  Do lax environmental    
            regulations attract foreign investment?.  36p.              
     14/95  Garratt, Rod & Qin, Cheng-Zhong.  On a market for coalitions
            with indivisible agents and lotteries.  23p.                
     11/95  Garratt, Rod & Marshall, John M.  Supplemental health       
            insurance.  18p.                                            
     15/95  Hahm, Joon-Ho.  Consumption adjustment to real interest     
            rates: intertemporal substitution revisited.  36p.          
     9/95   Kolstad, Charles D. & Guzman, Rolando M.  Information and   
            the divergence between willingness to accept and willingness
            to pay.  28p.                                               
     12/95  Miller, Richard D.  Estimating compensating differentials   
            for employer provided health insurance benefits.  21p.      
     13/95  Ogun, Oluremi.  Exchange rate instability and non-oil export
            performance in a developing economy.  39p.                  
     17/95  Guzman, Rolando M. & Kolstad, Charles D.  Bidding behavior  
            under costly information acquisition: an experimental study.
             38p.                                                       
     10/95  Guzman, Rolando M. & Kolstad, Charles D.  A model of auction
            equilibrium with costly information acquisition.  42p.      
     16/95  Trejo, Stephen J.  Why do Mexican Americans earn low wages?.
             34p.                                                       



                                                           PAGE  17


     UNIVERSITY OF CAMBRIDGE.  Department of Applied Economics.         

     200    Anderlini, Luca & Felli, Leonardo.  Endogenous agency       
            problems.  32p.                                             
     201    Baliga, Sandeep.  The not-so-secret agent: professional     
            monitors, hierarchies and implementation.  23p.             
     202    Gottardi, Piero & Hens, Thorsten.  The survival assumption  
            and existence of competitive equilibria when asset markets  
            are incomplete.  25p.                                       
     9511   Baliga, Sandeep.  Universal collusion and renegotiation,    
            dictators and contracts.  26p.                              
     9510   Baliga, Sandeep & Serrano, Roberto.  Negotiations with      
            side-deals.  18p.                                           
     9512   Baliga, S., Corchon, L.C. & Sjostrom, T.  The theory of     
            implementation when the planner is a player.  34p.          
     9517   Palomba, Geremia.  How to combine Pareto optimality and     
            individual liberty using welfare interpersonal comparisons. 
            26p.                                                        

     BANK OF CANADA.  Technical Reports.                                

     72     Black, Richard, et al.  The Bank of Canada's new quarterly  
            projection model, part 1: the steady-state model:SSQPM.     
            95p.                                                        
     71     Macklem, R. Tiff.  Wealth, disposable income and            
            consumption: some evidence for Canada.  67p.                
     73     Armstrong, John, et al.  The Bank of Canada's new quarterly 
            projection model, part 2: a robust method for simulating    
            forward-looking models.  33p.                               

     UNIVERSITY OF CANTERBURY.  Department of Economics.                

     9407   Fountain, John, McCosker, Michael & Morris, Dean.  Are      
            people really risk seeking when facing losses?.  32p.       
     9501   Carter, Michael & Guthrie, Graeme.  Pricing Internet: the   
            New Zealand experience.  17p.                               
     9503   Fountain, John, McCosker, Michael & Macfarlane, Bruce.      
            Framing and incentive effects on risk attitudes when facing 
            uncertainty losses.  32p.                                   
     9502   Guender, Alfred V. & Young, Robin.  Long term and short term
            aggregate uncertainty and the effect on real output.  26p.  
     9504   Walker, Paul.  An outline of the history of game theory.    
            24p.                                                        
     9505   Smith, Aaron & Harrison, Robin.  A drunk, her dog, and a    
            boyfriend: an illustration of multiple cointegration and    
            error correction.  17p.                                     
     9506   Winkelmann, Liliana & Winkelmann, Rainer.  Optimal markup   
            responses to trade policy reform in a small, open economy:  
            evidence from New Zealand.  12p.                            
     9507   Winkelmann, Liliana & Winkelmann, Rainer.  Unemployment:    
            where does it hurt?.  28p.                                  

     UNIVERSIDAD CARLOS III de MADRID.  Dept. de Economia.              

     9438   Diaz-Gimenez, Javier & Prescott, Edward C.  Real returns on 
            government debt: a general equilibrium quantitative         
            exploration.  24p.                                          
                                                           PAGE  18

     9434   Estrada, Javier.  Insider trading: regulation, securities   
            market, and welfare under risk neutrality.  29p.            
     9419   Franciosi, Robert, et al.  Experimental tests of the        
            endowment effect.  35p.                                     
     9433   Petrakis, Emmanuel.  Technology diffusion in a              
            differentiated industry.  19p.                              
     9436   Tena, Antonio.  The Spanish foreign sector 1885-1985: trends
            and structure.  25p.                                        
     9440   de la Croix, David & Licandro, Omar.  Irreversibility,      
            uncertainty and underemployment equilibria.  15p.           
     9435   Herves, Carlos & Moreno, Emma.  Strategic equilibrium in    
            economies with a continuum of agents.  6p.                  
     9441   Kujal, Praveen.  A proof of first-order stochastic dominance
            for quantity constrained oligopolies.  11p.                 
     9423   Moreno, Diego.  Strategy-proof allocation mechanisms for    
            economies with public goods.  15p.                          
     9424   Moreno, Diego.  Strategy-proof mechanisms with monotonic    
            preferences: the case of pre public goods economies.  15p.  
     9453   Moreno, Diego & Wooders, John.  Coalition-proof equilibrium.
             28p.                                                       
     9454   Ortigueira, Salvador & Santos, Manuel.  On convergence in   
            endogenous growth models.  33p.                             
     9445   Prados de la Escosura, Leandro & Sanz, Jorge C.  Growth and 
            macroeconomic performance in Spain, 1939-1993.  68p.        
     9446   Prados de la Escosura, Leandro.  Terms of trade and         
            backwardness: testing the Prebisch doctrine for Spain and   
            Britain during the industrialization.  48p.                 
     9456   Wooders, John.  Bargaining and matching in small markets.   
            21p.                                                        
     9455   Wooders, John.  Equilibrium in a market with intermediation 
            is Walrasian.  23p.                                         
     9505   Prados de la Escosura, Leandro.  Spain's gross domestic     
            product, 1850-1993: quantitative conjectures.  79p.         
     9506   Prados de la Escosura, Leandro.  Spain's gross domestic     
            product, 1850-1993: quantitative conjectures, appendix.     
            119p.                                                       
     9511   Boldrin, Michele & Rustichini, Aldo.  Equilibria with social
            security.  37p.                                             
     9510   Casteneda, Ana, Diaz-Gimenez, Javier & Rios-Rull,           
            Jose-Victor.  Unemployment spells and income distribution   
            dynamics.  38p.                                             
     9508   Estrada, Javier.  Insider trading: regulation, risk         
            reallocation, and welfare.  12p.                            
     9509   Estrada, Javier.  Insider trading: regulation, securities   
            markets, and welfare under risk aversion.  40p.             
     9439   Herguera, Inigo, Kujal, Praveen & Petrakis, Emmanuel.       
            Quantity restrictions and endogenous quality choice.  20p.  
     9507   Ruiz-Castillo, Javier.  Interpersonal welfare comparisons,  
            redistributive effects, and horizontal inequities in the    
            income tax system.  24p.                                    
     9518   Berrendero, Jose R., Romo, Juan & Zamar, Ruben.  On the     
            explosion breakdown rate of the maximum bias function of    
            some scale and location estimates.  33p.                    
     9513   Boldrin, Michele & Horvath, Michael.  Labor contracts and   
            business cycles.  38p.                                      



                                                           PAGE  19

     9516   Boucekkine, Raouf, Germain, Marc & Licandro, Omar.  Creative
            destruction and business cycles.  15p.                      
     9517   Boucekkine, Raouf, Juillard, Michel & Malgrange, Pierre.    
            Precision performances of terminal conditions of short time 
            horizons forward looking systems.  25p.                     
     9515   Fagnart, Jean-Francois, Licandro, Omar & Sneessens, Henri.  
            Capacity utilization dynamics and market power.  24p.       
     9512   Florenzano, Monique & Gourdel, Pascal.  Incomplete markets  
            in infinite horizon: debt constraints versus node prices.   
            34p.                                                        
     9519   Kranich, Laurence.  The distribution of opportunities: a    
            normative theory.  17p.                                     
     9520   Adda, Jerome & Boucekkine, Raouf.  Liquidity constraints and
            time non-separable preferences: simulating models with large
            state spaces.  23p.                                         
     9523   Bhattacharya, Sudipto, Boot, Arnoud W.A. & Thakor, Anjan V. 
            The economics of bank regulation.  51p.                     
     9531   Boldrin, Michele, Christiano, Lawrence J. & Fisher, Jonas   
            D.M.  Asset pricing lessons for modeling business cycles.   
            49p.                                                        
     9524   Dhillon, Amrita.  Extended Paretian rules and relative      
            utilitarianism.  36p.                                       
     9527   Ladron de Guevara, Antonio, Ortigueira, Salvador & Santos,  
            Manuel S.  A two-sector model of endogenous growth with     
            leisure.  44p.                                              
     9526   Santos, Manuel S. & Woodford, Michael.  Rational asset      
            pricing bubbles.  46p.                                      

     CENTRE D'ETUDES PROS. D'ECON MATH APPLIQUEES A LA PLANIFICATION.   

     9422   Caillaud, Bernard & Rey, Patrick.  Strategic aspects of     
            delegation.  12p.                                           
     9419   Dionne, G., et al.  Debt, moral hazard and airline safety:  
            empirical evidence.  36p.                                   
     9423   Gourieroux, C.  Les modeles econometriques: utilisation et  
            interpretation.  45p.                                       
     9424   Grandmont, Jean-Michel.  Expectations formation and         
            stability of large socioeconomic systems.  57p.             
     9426   Laskar, Daniel.  "Time inconsistency" of the optimal        
            monetary policy: a case for target zones.  23p.             
     9420   Picard, Pierre.  Auditing claims in insurance markets with  
            fraud: the credibility issue.  41p.                         
     9504   Amable, Bruno.  Endogenous growth and cycles through radical
            and incremental innovation.  24p.                           
     9505   Coestier, Benedicte.  Asymetrie d'information, reputation et
            signes de qualities.  36p.                                  
     9425   Demers, Fanny S. & Demers, Michel.  Prudence, demand        
            uncertainty, background risk and the law of supply: a non   
            expected utility approach to the firm.  39p.                
     9501   de Vilder, Robin G.  Complicated endogenous business cycles 
            under gross substitutability.  29p.                         
     9506   Hofbauer, Josef & Weibull, Jorgen W.  Evolutionary selection
            against dominated strategies.  17p.                         
     9503   Hommes, Cars & de Vilder, Robin.  Investment constrained    
            endogenous business cycles in a two-dimensional OLG model.  
            23p.                                                        


                                                           PAGE  20

     9502   Laffargue, Jean-Pierre.  Charges sociales, qualifications et
            emploi, etude a l'aide d'un modele d'equilibre general      
            calculable....  53p.                                        

     COLUMBIA UNIVERSITY. Grad. School of Business-Paine Webber Series. 

     9423   Balduzzi, Pierluigi, Das, Sanjiv Ranjan & Foresi, Silverio. 
            The central tendency: a second factor in the short-term     
            rate.  22p.                                                 
     9421   Balduzzi, Pierluigi, Corsetti, Giancarlo & Foresi, Silverio.
             The simple analytics of assets values and infrequent policy
            changes.  21p.                                              
     9418   Brennan, Michael J. & Subrahmanyam, Avanidhar.  Market      
            microstructure and asset pricing: on the compensation for   
            adverse selection in stock returns.  32p.                   
     9417   Edwards, Franklin R.  Systematic risk in OTC derivatives    
            markets: much ado about not too much.  44p.                 
     9422   Foresi, Silverio & Peracchi, Franco.  The conditional       
            distribution of excess returns: an empirical analysis.  43p.
     9420   Leff, Nathaniel.  Trust, envy, and the political economy of 
            industrial development: economic groups in developing       
            countries.  28p.                                            
     9419   Spiegel, Matthew & Subrahmanyam, Avanidhar.  A theory of    
            "news pending" trading suspensions.  31p.                   
     9430   Browne, Sid.  Survival and growth with a fixed liability:   
            optimal portfolio strategies in continuous time.  24p.      
     9427   Edwards, Franklin R.  Derivatives can be hazardous to your  
            health: the case of Metallgesellschaft.  28p.               
     9429   Edwards, Franklin R.  Off-exchange derivatives markets and  
            financial fragility.  47p.                                  
     9428   Edwards, Franklin R. & Canter, Michael S.  The collapse of  
            Metallgesellschaft: unhedgeable risks, poor hedging strategy
            or just bad luck?.  56p.                                    
     9426   Edwards, Franklin R. & Mishkin, Frederic S.  The decline of 
            traditional banking: implications for financial stability   
            and regulatory policy.  42p.                                
     9424   Kyle, Albert S. & Wang, F. Albert.  Speculation duupoly with
            agreement to disagree.  58p.                                
     9425   Wang, F. Albert.  Strategic trading with heterogeneous prior
            beliefs: variations in volume and volatility.  50p.         
     9506   Aitken, Brian, Hanson, Gordon H. & Harrison, Ann E.         
            Spillovers, foreign investment, and export behavior.  40p.  
     9507   Amir, Eli & Lev, Baruch.  Value-relevance of nonfinancial   
            information: the wireless communications industry.  42p.    
     9502   Backus, David K., Foresi, Silverio & Zin, Stanley E.        
            Arbitrage opportunities in arbitrage free models of bond    
            pricing.  36p.                                              
     9501   Backus, David K., Foresi, Silverio & Telmer, Chris I.  The  
            forward premium anomaly: three examples in search of a      
            solution.  28p.                                             
     9503   Browne, Sid & Whitt, Ward.  Portfolio choice and the        
            Bayesian Kelly criterion.  31p.                             
     9505   Chemmanur, Thomas J. & Fulghieri, Paolo.  Why include       
            warrants in new equity issues?: a theory of unit IPO's.     
            47p.                                                        



                                                           PAGE  21

     9504   Danthine, Jean-Pierre & Donaldson, John B.  Asset pricing   
            implications of real market frictions.  52p.                

     UNIVERSITY OF COPENHAGEN.  Institute of Economics.                 

     9415   Dierker, Egbert & Grodal, Birgit.  Profit maximization      
            mitigates competition.  23p.                                
     9502   Hansen, Claus T.  Labour unions, capital accumulation, and  
            the natural rate of unemployment.  15p.                     
     9416   Perraudin, William & Sorensen, Bent.  Modelling exchange    
            rates in continuous time: theory, estimation and option     
            pricing.  31p.                                              
     9501   Schultz, Christian.  Wages and employment in a repeated game
            with revenue fluctuations.  24p.                            
     9503   Hansen, Henrik & Warne, Anders.  Common trends analysis of  
            Danish unemployment.  52p.                                  
     9512   Albaek, Karsten & Sorensen, Bent E.  Worker flows and job   
            flows in Danish manufacturing, 1980-91.  46p.               
     9513   Staehr, Karsten.  Indexation, contract length, and the cost 
            of disinflation in economies with extreme inflation.  22p.  
     9511   Amundsen, Eirik S. & Bjorndal, Trond.  Optimal exploitation 
            of a biomass confronted with the threat of partial          
            extinction.  20p.                                           
     9505   Blackburn, Keith & Hansen, Lill.  Public policy and economic
            growth in an imperfectly competitive world of interdependent
            economies.  37p.                                            
     9507   Dierker, Egbert & Grodal, Birgit.  Profit maximization,     
            relative prices, and the maximization of shareholders' real 
            wealth.  24p.                                               
     9504   Gunnarsson, Jan.  Economic properties and expectations: how 
            the process of learning develops by selection.  28p.        
     9509   Hendon, Ebbe, et al.  Nash equilibrium in lower             
            probabilities.  30p.                                        
     9506   Hendon, Ebbe & Traenes, Torben.  Decentralized trade in a   
            small market: the possibility of resale.  43p.              
     9508   Hendon, Ebbe, Jacobsen, Hans J. & Sloth, Birgitte.  Adaptive
            learning in extensive form games and sequential equilibrium.
             28p.                                                       
     9406   Hendon, Ebbe, Jacobsen, Hans J. & Sloth, Birgitte.          
            Fictitious play in extensive form games.  38p.              
     9510   Keiding, Hans.  Allocations dynamically implemented in      
            renegotiation proof equilibrium.  13p.                      
     9514   Nielsen, Carsten K.  Rational belief structures and rational
            belief equilibrium.  37p.                                   

     CORNELL UNIVERSITY.  Center for Analytic Economics.                

     9411   Mitra, Tapan.  An exact discount factor restriction for     
            period three cycles in dynamic optimization models.  43p.   

     COWLES FOUNDATION FOR RESEARCH IN ECONOMICS AT YALE UNIVERSITY.    

     1087   Barany, I., Scarf, H.E. & Shallcross, D.  The topological   
            structure of maximal lattice free convex bodies: the general
            case.  17p.                                                 



                                                           PAGE  22

     1090   Hajivassiliou, Vasslis A. & Ioannides, Yannis M.            
            Unemployment and liquidity constraints.  48p.               
     1021 r Hajivassilious, Vassilis, McFadden, Daniel & Ruud, Paul.    
            Simulation of multivariate normal rectangle probabilities & 
            their derivatives: theoretical and computational result.    
            43p.                                                        
     1086   Linton, Oliver.  Edgeworth approximation for MINPIN         
            estimators to semiparametric regression models.  44p.       
     1088   Quint, Thomas & Shubik, Martin.  A model of migration.  12p.
     1089   Quint, Thomas & Shubik, Martin.  On the number of Nash      
            equilibria in a bimatrix game.  17p.                        
     1085   Sims, Christopher A. & Zha, Tao.  Error bands for impulse   
            responses.  38p.                                            
     1096   Buchinsky, Moshe & Hah, Jinyong.  Quantile regression model 
            with unknown censoring point.  35p.                         
     1091   Fair, Ray C. & Howrey, E. Philip.  Evaluating alternative   
            monetary policy rules.  25p.                                
     1095   Quint, Thomas & Shubik, Martin.  A bound of the number of   
            Nash equilibria in a coordination game.  8p.                
     1094   Quint, Thomas, Shubik, Martin & Yan, Dicky.  Dumb bugs and  
            bright noncooperative players: games, context and behavior. 
            31p.                                                        
     1092   Shiller, Robert J.  Conversation, information, and herd     
            behavior.  13p.                                             
     1093   Tobin, James.  An overview of the general theory.  39p.     
     1100   Baliga, Sandeep & Polak, Ben.  Banks versus bonds: a simple 
            theory of comparative financial institutions.  71p.         
     1099   Karatzas, Ioannis, Shubik, Martin & Sudderth, William D.  A 
            strategic market game with secured lending.  56p.           
     1101   Nordhaus, William D.  How should we measure sustainable     
            income?.  32p.                                              
     1098   Shiller, Robert J., Case, Karl E. & Weiss, Allan N.         
            Mortgage default risk and real estate prices: the use of    
            index-based futures and options in real estate.  31p.       
     1097   Shiller, Robert J. & Athanasoulis, Stefano.  World income   
            components: measuring and exploiting international risk     
            sharing opportunities.  69p.                                
     1107   Grant, Simon, King, Stephen & Polak, Ben.  Information and  
            externalities, share-price based incentives and managerial  
            behavior.  26p.                                             
     1105   Linton, Oliver B. & Steigerwald, Douglas G.  Adaptive       
            testing in ARCH models.  43p.                               
     1106   Linton, Oliver & Gozalo, Pedro.  Nonparametric test of      
            conditional independence.  25p.                             
     1103   Phillips, Peter C.B.  Automated forecasts of Asia-Pacific   
            economic activity.  14p.                                    
     1102   Phillips, Peter C.B.  Impulse response and forecast error   
            variance asymptotics in nonstationary VARs.  38p.           
     1104   Phillips, Peter C.B.  Unit root tests.  24p.                

     (ENGLAND) CENTRE FOR ECONOMIC POLICY RESEARCH.                     

     1072   Audretsch, David B. & Elston, Julie Ann.  Does firm size    
            matter?: evidence on the impacts of liquidity constraints on
            firm investment behavior in Germany.  20p.                  



                                                           PAGE  23

     1076   Barro, Robert J. & Sala-i-Martin, Xavier.  Quality          
            improvements in models of growth.  43p.                     
     1082   Bianchi, Marco & Zoega, Gylfi.  Unemployment persistence:   
            does the size of the shock matter?.  43p.                   
     1074   Canova, Fabio & Ravn, Morten O.  International consumption  
            risk sharing.  37p.                                         
     1068   Chadha, Bankim & Tsiddon, Daniel.  Inflation, nominal       
            interest rates and the variability of output.  36p.         
     1085   Decressin, Jorg & Fatas, Antonio.  Regional labor market    
            dynamics in Europe.  30p.                                   
     1078   De Fraja, Gianni.  Entry, pricing and incentives: the role  
            of regulatory commitment.  43p.                             
     1079   De Fraja, Gianni & Iossa, Elisabeth.  Competition,          
            regulation and managerial incentives.  34p.                 
     1073   De Grauwe, Paul.  Exchange rates in search of fundamental   
            variables.  22p.                                            
     1056   Dixit, Avinash & Londregan, John.  Redistributive politics  
            and economic efficiency.  23p.                              
     1069   Francois, Joseph F.  Labour force growth, trade, and        
            employment.  37p.                                           
     1067   Francois, Joseph F., McDonald, Bradley & Nordstrom, Hakan.  
            The Uruguay Round: a global general equilibrium assessment. 
            63p.                                                        
     1080   Helpman, Elhanan & Trajtenberg, Manuel.  A time to sow and a
            time to reap: growth based on general purpose technologies. 
            43p.                                                        
     1064   Lund, Diderik.  Can a small nation gain from introducing a  
            carbon tax early?.  44p.                                    
     1077   Mello, Antonio S. & Parsons, John E.  Auctions of shares    
            with a secondary market and tender offers.  32p.            
     1044   Messerlin, Patrick A.  Central European countries: trade    
            laws in the light of international experience.  30p.        
     1084   Rodrik, Dani.  Developing countries after the Uruguay Round.
             46p.                                                       
     1081   Snower, Dennis J.  Evaluating unemployment policies: what do
            the underlying theories tell us?.  49p.                     
     1086   Snower, Dennis J.  The simple economics of benefit          
            transfers.  40p.                                            
     1071   Van Reenen, John.  The creation and capture of rents: wages 
            and innovations in a panel of U.K. companies.  36p.         
     1063   Ulph, Alistair & Ulph, David.  Trade, strategic innovation  
            and strategic environmental policy.  36p.                   
     1092   Bean, Charles & Crafts, Nicholas F.R.  British economic     
            growth since 1945: relative economic decline..and           
            renaissance?.  53p.                                         
     1087   Crafts, Nicholas F.R. & Mills, Terence C.  Europe's golden  
            age: an econometric investigation of changing trend rates in
            growth.  29p.                                               
     1083   Dumas, Bernard.  Short and long term hedging for the        
            corporation.  35p.                                          
     1090   Flood, Robert P. & Rose, Andrew K.  Fixes: the forward      
            discount puzzle.  11p.                                      
     1018   Snower, Dennis J.  What is the domain of the welfare state?.
             33p.                                                       




                                                           PAGE  24

     1093   Winkelmann, Liliana & Winkelmann, Rainer.  Unemployment:    
            where does it hurt?.  22p.                                  
     1089   Anderson, Kym.  The political economy of coal subsidies in  
            Europe.  29p.                                               
     1088   Bayoumi, Tamim A., Goldstein, Morris & Woglom, Geoffrey.  Do
            credit markets discipline sovereign borrowers?: evidence    
            from U.S. states.  24p.                                     
     1096   Booth, Alison L.  The unemployment implications of mandatory
            firing costs.  31p.                                         
     1097   Booth, Alison L. & Frank, Jeff.  Coverage by increment      
            scales.  29p.                                               
     1101   Booth, Alison L. & Zoega, Gylfi.  Quitting externalities,   
            employment cyclicality and firing costs.  34p.              
     1098   Burgess, Simon & Rees, Hedley.  Lifetime jobs and transient 
            jobs: job tenure in Britain, 1975-91.  55p.                 
     1119   Canova, Fabio & De Nicolo, Gianni.  The equity premium and  
            the risk free rate: a cross country, cross maturity         
            examination.  46p.                                          
     1113   Canova, Fabio & Ubide, Angel J.  Household production and   
            international business cycles.  41p.                        
     1100   Canzoneri, Matthew B. & Dellas, Harris.  Monetary           
            integration in Europe: implications for real interest rates,
            national stock markets and the volatility of .  27p.        
     1099   Canzoneri, Matthew B. & Dellas, Harris.  Real interest rates
            and central bank operating procedures.  33p.                
     1110   Chadha, Bankim & Coricelli, Fabrizio.  Unemployment,        
            investment and sectoral reallocation.  33p.                 
     1095   Crafts, Nicholas F.R & Toniolo, Gianni.  Post-war growth: an
            overview.  46p.                                             
     1122   De Fraja, Gianni.  Regulation and access pricing with       
            asymmetric information.  27p.                               
     1121   Diba, Behzad T. & Martin, Philippe.  Causality implications 
            of the public finance approach to inflation and seigniorage.
             18p.                                                       
     1128   Frankel, Jeffrey A. & Rose, Andrew K.  A panel project on   
            purchasing power parity: mean reversion within and between  
            countries.  18p.                                            
     1105   Gual, Jordi.  The coherence of EC policies on trade,        
            competition and industry.  61p.                             
     1112   Hoekman, Bernard & Mavroidis, Petros C.  The WTO's agreement
            on government procurement: expanding disciplines, declining 
            membership?.  22p.                                          
     1117   Jarvis, Sarah & Pudney, Stephen.  Redistributive policy in a
            transition economy: the case of Hungary.  47p.              
     1116   Marin, Dalia.  Learning and dynamic comparative advantage:  
            lessons from Austria's post-war pattern of growth for       
            Eastern Europe.  50p.                                       
     1107   Meyer, Margaret A. & Vickers, John.  Performance comparisons
            and dynamic incentives.  33p.                               
     1118   Micklewright, John & Nagy, Gyula.  Unemployment insurance   
            and incentives in Hungary.  42p.                            
     1106   Motta, Massimo, Thisse, J.F. & Cabrales, Antonio.  On the   
            persistence of leadership or leapfrogging in international  
            trade.  34p.                                                




                                                           PAGE  25

     1109   O'Grada, Cormac & Duffy, Niall.  Fertility control early in 
            marriage in Ireland a century ago.  17p.                    
     1104   Prados de la Escosura, Leandro & Sanz, Jorge C.  Growth and 
            macroeconomic performance in Spain, 1939-93.  61p.          
     1091   Razin, Assaf & Sadka, Efraim.  Resisting migration: wage    
            rigidity and income distribution.  18p.                     
     1114   Sapir, Andre.  Trade liberalization and the harmonization of
            social policies: lessons from European integration.  37p.   
     1120   Soderlind, Paul & Vredin, Anders.  Applied cointegration    
            analysis in the mirror of macroeconomic theory.  25p.       
     1103   Svensson, Lars E.O.  The Swedish experience of an inflation 
            target.  27p.                                               
     1123   Avesani, Renzo G., Gallo, Giampiero M. & Salmon, Mark.  On  
            the evolution of credibility and flexible exchange rate     
            target zones.  35p.                                         
     1126   Ben-David, Dan.  Trade and convergence among countries.     
            28p.                                                        
     1111   Ben-David, Dan & Pappell, David H.  Slowdowns and meltdowns:
            post-war growth evidence from 74 countries.  21p.           
     1102   Burda, Michael C. & Lubyova, Martina.  The impact of active 
            labour market policies: a closer look at the Czech and      
            Slovak Republics.  40p.                                     
     1125   Burgess, Simon, Lane, Julia & Stevens, David.  Job flows,   
            worker flows and churning.  44p.                            
     1133   Coe, David T., Helpman, Elhanan & Hoffmaister, Alexander W. 
            North-South R & D spillovers.  41p.                         
     1132   Franz, Wolfgang.  Central and East European labour markets  
            in transition: developments, causes, and cures.  71p.       
     1134   Grossman, Gene M. & Helpman, Elhanan.  Technology and trade.
             77p.                                                       
     1108   Jappelli, Tullio & Pagano, Marco.  The welfare effects of   
            liquidity constraints.  25p.                                
     1094   Karp, Larry & Paul, Thierry.  Labour adjustment and gradual 
            reform: is commitment important?.  45p.                     
     1129   Martin, Philippe & Rogers, Carol A.  Optimal stabilization  
            policy in the presence of learning by doing.  31p.          
     1130   Martin, Philippe & Rogers, Carol A.  Stabilization policy,  
            learning by doing, and economic growth.  22p.               
     1131   Obstfeld, Maurice & Rogoff, Kenneth.  Exchange rate dynamics
            redux.  41p.                                                
     1141   Persson, Torsten & Tabellini, Guido.  Double-edged          
            incentives: institutions and policy coordination.  58p.     
     1142   Persson, Torsten & Tabellini, Guido.  Federal fiscal        
            constitutions, part II: risk sharing and redistribution.    
            32p.                                                        
     1143   Rama, Martin & Tabellini, Guido.  Endogenous distortions in 
            product and labour markets.  36p.                           
     1115   Rodrik, Dani.  The dynamics of political support for reform 
            in economies in transition.  32p.                           
     1124   Stevens, Margaret.  The sharing hypothesis for specific     
            human capital.  16p.                                        
     1127   Sussman, Oren & Zeira, Joseph.  Banking and development.    
            42p.                                                        
     1158   Anderson, Kym.  The entwining of trade policy with          
            environmental and labour standards.  35p.                   



                                                           PAGE  26

     1136   Anderson, Simon P., de Palma, Andre & Thisse, Jacques F.    
            Privatization and efficiency in a differentiated industry.  
            25p.                                                        
     1161   Audretsch, David B. & Feldman, Maryann P.  Innnovative      
            clusters and the industry life cycle.  28p.                 
     1152   Audretsch, David B.  The innovation, unemployment and       
            competitiveness challenge in Germany.  35p.                 
     1162   Audretsch, David B., et al.  Sub-optimal scale firms and    
            compensating factor differentials in Dutch manufacturing.   
            32p.                                                        
     1156   Carraro, Carlo & Soubeyran, Antoine.  Environmental         
            feedbacks and optimal taxation in oligopoly.  36p.          
     1159   Gordon, Robert J.  Is there a trade-off between unemployment
            and productivity growth?.  65p.                             
     1166   Grabowski, Maciej & Smith, Stephen.  The taxation of        
            entrepreneurial income in a transition economy: issues      
            raised by experience in Poland.  43p.                       
     1135   Grosfeld, Irena & Roland, Gerard.  Defensive and strategic  
            restructuring in Central European enterprises.  56p.        
     1150   Hoekman, Bernard.  Tentative first steps: an assessment of  
            the Uruguay Round Agreement on services.  51p.              
     1147   Sako, Mari.  Supppliers' associations in the Japanese       
            automobile industry: collective action for technology       
            diffusion.  35p.                                            
     1144   Schaffer, Mark E.  Government subsidies to enterprises in   
            Central and Eastern Europe: budgetary subsidies and tax     
            arrears.  47p.                                              
     1168   Aiginger, Karl, Winter-Ebmer, Rudolf & Zweimuller, Josef.   
            East European trade and the Austrian labor market.  26p.    
     1137   Artis, Michael J., Kontolemis, Zenon G. & Osborn, Denise R. 
            Classical business cycles for G7 and European countries.    
            52p.                                                        
     1172   Bayoumi, Tamim & Prasad, Eswar.  Currency unions, economic  
            fluctuations, and adjustment: some empirical evidence.  30p.
     1179   Buiter, Willem H. & Kletzer, Kenneth M.  Capital mobility,  
            fiscal policy and growth under self-financing of human      
            capital formation.  43p.                                    
     1154   Carraro, Carlo & Siniscalco, Domenico.  R & D cooperation   
            and the stability of international environmental agreements.
             28p.                                                       
     1164   Chen, Zhaohui.  Speculative market structure and the        
            collapse of an exchange rate mechanism.  32p.               
     1163   Cohen, Daniel.  Tests of the `convergence hypothesis': some 
            further results.  25p.                                      
     1148   Currie, David, Levine, Paul & Pearlman, Joseph.  Can        
            delegation be counterproductive?: the choice of             
            `conservative' bankers in open economies.  44p.             
     1174   de Boissieu, Christian, Cohen, Daniel & de Pontbriand, Gael.
             Russion enterprise in transition.  30p.                    
     1184   Dolado, Juan J. & Jimeno, Juan F.  Why is Spanish           
            unemployment so high?.  34p.                                
     1169   Erkel-Rousse, Helene & Melitz, Jacques.  New empirical      
            evidence on the costs of European Monetary Union.  25p.     
     1145   Halpern, Laszlo & Wyplosz, Charles.  Equilibrium real       
            exchange rates in transition.  56p.                         



                                                           PAGE  27

     1151   Heady, Christopher & Smith, Stephen.  Tax and benefit reform
            in the Czech and Slovak Republics.  40p.                    
     1138   Jappelli, Tullio, Pischke, Jorn-Steffen & Souleles,         
            Nicholas.  Testing for liquidity constraints in Euler       
            equations with complementary data sources.  41p.            
     1175   Karp, Larry & Sioli, Lucy.  Vertically related markets and  
            trade policy in a bargaining framework.  38p.               
     1180   Morales, Antonio J. & Padilla, A. Jorge.  Designing         
            institutions for international monetary policy coordination.
             34p.                                                       
     1146   Mulligan, Casey B. & Sala-i-Martin, Xavier.  A labour-income
            based measure of the value of human capital: an application 
            to the states of the United States.  66p.                   
     1149   Mulligan, Casey B. & Sala-i-Martin, Xavier.  Measuring      
            aggregate human capital.  53p.                              
     1167   Newbery, David M.  Tax and benefit reform in Central and    
            Eastern Europe.  15p.                                       
     1140   Quah, Danny T.  Empirics for economic growth and            
            convergence.  27p.                                          
     1153   Quah, Danny T. & Vahey, Shaun P.  Measuring core inflation. 
            24p.                                                        
     1160   Saint-Paul, Gilles.  Demand-driven financial development.   
            20p.                                                        
     1155   Sinn, Hans-Werner.  Factor price distortions and public     
            subsidies in East Germany.  40p.                            
     1176   Snower, Dennis J. & Karanassou, Marika.  A contribution to  
            unemployment dynamics.  19p.                                
     1170   von Hagen, Jurgen & Hammond, George W.  Regional insurance  
            against asymmetric shocks: an empirical study for the       
            European Community.  33p.                                   
     1139   Zeira, Joseph.  Workers, machines and economic growth.  31p.
     1188   Bayoumi, Tamim.  Who needs bands?: exchange rate policy     
            before EMU.  23p.                                           
     1183   Ben-David, Dan & Loewy, Michael B.  Free trade and long-run 
            growth.  51p.                                               
     1187   Bertola, Giuseppe.  Accumulation and the extent of          
            inequality.  29p.                                           
     1186   Bertola, Guiseppe & Ichino, Andrea.  Wage inequality and    
            unemployment: U.S. vs. Europe.  49p.                        
     1173   de Melo, Jaime & Tarr, David G.  VERS under imperfect       
            competition and foreign direct investment: a case study of  
            the U.S.-Japan auto VER.  28p.                              
     1182   Drabek, Zdenek & Smith, Alasdair.  Trade performance and    
            trade policy in Central and Eastern Europe.  35p.           
     1171   Edwards, Jeremy & Ogilvie, Sheilagh.  Universal banks and   
            German industrialization: a reappraisal.  32p.              
     1181   Flam, Harry & Nordstrom, Hakan.  Why do pre-tax prices      
            differ so much across European countries?.  29p.            
     1185   Marin, Dalia & Schnitzer, Monika.  Creating creditworthiness
            through reciprocal trade.  27p.                             
     1177   Matutes, Carmen & Vives, Xavier.  Imperfect competition,    
            risk taking, and regulation in banking.  30p.               
     1165   Minford, Patrick, Riley, Jonathan & Nowell, Eric.  The      
            elixir of growth: trade, non-traded goods and development.  
            78p.                                                        



                                                           PAGE  28

     1178   Yafeh, Yishay & Yosha, Oved.  Large shareholders and banks: 
            who monitors and how?.  34p.                                
     1202   Abbring, Jaap H., van den Berg, Gerard J. & van Ours, Jan C.
             The anatomy of unemployment dynamics.  45p.                
     1211   Brennan, Michael J. & Franks, Julian.  Underpricing,        
            ownership and control in initial public offerings of equity 
            securities in the U.K.  38p.                                
     1201   Buiter, Willem H., Corsetti, Giancarlo & Pesenti, Paolo A.  
            A centre-periphery model of monetary coordination and       
            exchange rate crises.  42p.                                 
     1200   Carling, Kenneth, et al.  Unemployment duration,            
            unemployment benefits, and labour market programmes in      
            Sweden.  30p.                                               
     1204   Casella, Alessandra.  Free trade and evolving standards.    
            51p.                                                        
     1213   De Grauwe, Paul.  The economics of convergence towards      
            monetary union in Europe.  23p.                             
     1189   Demertzis, Maria & Hughes Hallett, Andrew.  On measuring the
            costs of labour immobility and market heterogeneity in      
            Europe.  31p.                                               
     1217   Eichengreen, Barry & Ghironi, Fabio.  European monetary     
            unification: the challenges ahead.  44p.                    
     1210   Flandreau, Marc.  An essay on the emergence of the          
            international gold standard, 1870-80.  50p.                 
     1214   Francois, Joseph & Martin, Will.  Multilateral trade rules  
            and the expected cost of protection.  31p.                  
     1206   Gali, Jordi.  Real business cycles with involuntary         
            unemployment.  35p.                                         
     1219   Gerlach, Stefan & Smets, Frank.  The monetary transmission  
            mechanism: evidence from the G-7 countries.  44p.           
     1218   Gorreia, Isabel H.  Efficiency and equity: is there a       
            trade-off?.  23p.                                           
     1193   Haskel, Jonathan & Powell, Andrew.  Cartels, contracts and  
            centralization: the transition to futures trading for       
            primary commodities.  24p.                                  
     1192   Haskel, Jonathan & Sanchia, Amparo.  Privatization and      
            X-inefficiency: a bargaining approach.  19p.                
     1194   Haskel, Jonathan & Scaramozzino, Pasquale.  Do other firms  
            matter in oligopolies?.  21p.                               
     1190   Hughes Hallett, Andrew J. & Ma, Yue.  Economic cooperation  
            within Europe: lessons from the monetary arrangements in the
            1990s.  60p.                                                
     1196   Jehiel, Philippe & Moldovanu, Benny.  Resale markets and the
            assignment of property rights.  31p.                        
     1199   Leahy, Dermot & Neary, J. Peter.  International R & D       
            rivalry and industrial strategy without government          
            commitment.  24p.                                           
     1203   Mata, Jose, Portugal, Pedro & Guimaraes, Paulo.  The        
            survival of new plants: start-up conditions and post-entry  
            evolution.  28p.                                            
     1212   Ravn, Morten O. & Sorensen, Jan R.  Minimum wages: curse of 
            blessing?.  26p.                                            
     1207   Rodrik, Dani.  Why is there multilateral lending?.  49p.    
     1205   Saint-Paul, Gilles.  A framework for analyzing the political
            support for active labour market policy.  19p.              



                                                           PAGE  29

     1208   Stultz, Rene M. & Wasserfallen, Walter.  Foreign equity     
            investment restrictions, capital flight, and shareholder    
            wealth maximization.  53p.                                  
     1191   Artis, Michael & Zhang, Wenda.  International business      
            cycles and the ERM: is there a European business cycle?.    
            32p.                                                        
     1197   Boot, Arnoud W.A & Thakor, Anjan V.  Financial system       
            architecture.  42p.                                         
     1216   Branco, Fernando.  Multi-object auctions: on the use of     
            combinational bids.  19p.                                   
     1195   Branson, William H. & Braga de Macedo, Jorge.  Macroeconomic
            policy in central Europe.  56p.                             
     1222   Buiter, Willem H.  Macroeconomic policy during a transition 
            to monetary union.  56p.                                    
     1229   Burda, Michael C.  Migration and the option value of        
            waiting.  24p.                                              
     1221   Burnside, Craig, Eichenbaum, Martin & Rebelo, Sergio.       
            Capital utilization and returns to scale.  51p.             
     1232   Burda, Michael C.  Unions and wage insurance.  35p.         
     1209   Crafts, Nicholas F.R.  The golden age of economic growth:   
            why did Northern Ireland miss out?.  23p.                   
     1198   Faini, Riccardo & de Melo, Jaime.  Trade liberalization,    
            employment and migration: some simulations for Morocco.     
            28p.                                                        
     1228   Francois, Joseph F. & Reinert, Kenneth A.  The role of      
            services in the structure of production and trade: stylized 
            facts from a cross-country analysis.  37p.                  
     1157   Galor, Oded & Weil, David N.  The gender gap, fertility and 
            growth.  31p.                                               
     1226   Hoekman, Bernard.  The WTO, the EU and the Arab world: trade
            policy priorities and pitfalls.  43p.                       
     1230   Krugman, Paul & Venables, Anthony J.  The seamless world: a 
            spatial model of international specialization.  30p.        
     1227   Leonard, Jonathan & Van Audenrode, Marc.  The duration of   
            unemployment and the persistence of wages.  29p.            
     1231   Rankin, Neil.  Nominal rigidity and monetary uncertainty in 
            a small open economy.  33p.                                 
     1220   Rebelo, Sergio & Vegh, Carlos A.  Real effects of exchange  
            rate-based stabilization: an analysis of competing theories.
             59p.                                                       
     1223   Saint-Paul, Gilles.  Reforming Europe's labour market:      
            political issues.  14p.                                     
     1233   Abowd, John, Kramarz, Francis & Moreau, Antoine.  Product   
            quality and worker quality.  30p.                           
     1235   Bauer, Thomas & Zimmermann, Klaus F.  Integrating the East: 
            the labour market effects of immigration.  52p.             
     1234   Bofinger, Peter.  The political economy of the Eastern      
            enlargement of the EU.  53p.                                
     1225   Bolton, Patrick & Roland, Gerard.  The break up of nations: 
            a political economy analysis.  59p.                         
     1237   Boot, Arnoud W.A. & Thakor, Anjan V.  Banking scope,        
            financial innovation, and the evolution of the financial    
            system.  34p.                                               
     1224   Cohen, Daniel.  The transition in Russia: successes         
            (privatization, low unemployment..), and failures (Mafias,  
            liquidity constraint.  24p.                                 


                                                           PAGE  30

     1239   Davies, Gareth & Vines, David.  Equilibrium currency crises:
            are multiple equilibria self-fulfilling or history          
            dependent?.  20p.                                           
     1247   Eichengreen, Barry & von Hagen, Jurgen.  Fiscal policy and  
            monetary union: federalism, fiscal restrictions and the no  
            bailout rule.  31p.                                         
     1244   Forni, Mario & Reichlin, Lucrezia.  Let's get real: a       
            dynamic factor analytical approach to disaggregated business
            cycles.  26p.                                               
     1241   Irwin, Gregor & Vines, David.  The macroeconomics of the    
            Mexican crisis: a simple two-period model.  19p.            
     1242   Jacquemin, Alexis & Sapir, Andre.  Is a European hard core  
            credible?: a statistical analysis.  15p.                    
     1238   Martin, Carmela.  The impact of EU trade agreements with    
            Central and East European countries: the case of Spain.     
            33p.                                                        
     1236   Quah, Danny T.  Aggregate and regional disaggregate         
            fluctuations.  28p.                                         
     1240   Rose, Andrew K.  After the deluge: do fixed exchange rates  
            allow intertemporal volatility trade offs?.  16p.           
     1245   Sapir, Andre.  Europe's single market: the long march to    
            1992.  24p.                                                 
     1246   Sutherland, Alan.  Fiscal crises and aggregate demand: can  
            high public debt reverse the effects of fiscal policy?.     
            23p.                                                        
     1255   Barro, Robert J. & Sala-i-Martin, Xavier.  Technological    
            diffusion, convergence, and growth.  43p.                   
     1248   Bayoumi, Tamim & Eichengreen, Barry.  The stability of the  
            gold standard and the evolution of the international        
            monetary system.  33p.                                      
     1259   Bentolila, Samuel & Jimeno, Juan F.  Regional unemployment  
            persistence (Spain, 1976-94).  38p.                         
     1257   Bofinger, Peter & Schachter, Andrea.  Alternative operating 
            procedures for monetary policy: a new look at the money     
            supply process.  32p.                                       
     1258   Gerlach, Stefan & Smets, Frank.  The term structure of      
            Euro-rates: some evidence in support of the expectations    
            hypothesis.  34p.                                           
     1251   Jappelli, Tullio.  The age-wealth profile and the life-cycle
            hypothesis: a cohort analysis with a time series of         
            cross-sections of Ita.  38p.                                
     1243   Leahy, Dermot & Neary, J. Peter.  Public policy towards R & 
            D in oligopolistic industries.  35p.                        
     1253   Neely, Christopher J., Weller, Paul A. & Corbae, P. Dean.   
            Endogenous realignments and the sustainability of a target  
            zone.  42p.                                                 
     1252   Razin, Assaf & Yuen, Chi-Wa.  Can capital controls alter the
            inflation-unemployment trade-off?.  18p.                    
     1254   Sala-i-Martin, Xavier.  The classical approach to           
            convergence analysis.  37p.                                 
     1249   Svensson, Lars E.O.  Optimal inflation targets,             
            `conservative' central banks, and linear inflation          
            contracts.  33p.                                            
     1215   van Wijnbergen, Sweder & Marcincin, Anton.  Voucher         
            privatization, corporate control and the cost of capital: an
            analysis of the Czech privatization programme.  23p.        


                                                           PAGE  31


     ERASMUS UNIVERSITY.  Institute for Economic Research.              

     9402   Klomp, Luuk & Thurik, Roy.  The growth of firms in Dutch    
            services.  31p.                                             
     9501   Klomp, Luuk & Thurik, Roy.  The post-entry performances of  
            firms: evidence from the Dutch services.  36p.              

     UNIVERSITY OF ESSEX.  Department of Economics.                     

     435    Lahiri, Sajal & Ono, Yoshiyasu.  Asymmetric oligopoly,      
            international trade and welfare: a synthesis.  19p.         
     433    Lahiri, Sajal & Raimondos, Pascalis.  Competition for aid   
            and trade policy.  14p.                                     
     434    Lahiri, Sajal & Raimondos, Pascalis.  Tying of aid to trade 
            policy reform and welfare.  16p.                            
     436    Schoeb, Ronnie.  Environmental levies and distortionary     
            taxation: environmental view vs. public finance view.  8p.  
     437    Chambers, Marcus J.  Long memory and aggregation in         
            macroeconomic time series.  25p.                            
     438    Chambers, M.J. & Bailey, R.E.  The price of wheat in early  
            modern England.  25p.                                       
     439    Ohta, Hiroshi & Yoshida, Chisato.  International migration, 
            profit-sharing and national welfare.  37p.                  
     441    Price, Simon.  Aggregate uncertainty, investment and        
            asymmetric adjustment in the U.K. manufacturing sector.     
            17p.                                                        
     440    Price, Simon.  Employment, hours, wages adjustment and      
            supply in U.K. manufacturing: identifying a long run        
            structure.  15p.                                            

     EUROPEAN UNIVERSITY INSTITUTE.  Department of Economics.           

     9426   Di Gioacchino, Debora.  The evolution of cooperation:       
            robustness to mistakes and mutation.  31p.                  
     9412   Ehrbeck, Tilman & Waldmann, Robert.  Can forecasters'       
            explain rejection of the rational expectations hypothesis?. 
            15p.                                                        
     94/6   Ermini, Luigi & Chang, Dongkoo.  Testing the joint          
            hypothesis of rationality and neutrality under seasonal     
            cointegration: the case of Korea.  20p.                     
     94/5   Govaerts, Bernadette, Hendry, David F. & Richard, J.F.      
            Encompassing in stationary linear dynamic models.  28p.     
     94/4   Hendry, David F.  On the interaction of unit roots and      
            exogeneity.  32p.                                           
     9418   Palomino, Frederic.  Noise trading in small markets.  25p.  
     94/3   Pelloni, Alessandra.  Public policy in a two sector model of
            endogenous growth.  26p.                                    
     9421   Salmon, Mark.  Bounded rationality and learning: procedural 
            learning.  44p.                                             
     9446   Avesani, Renzo G., Gallo, Giampiero M. & Salmon, Mark.  On  
            the evolution of credibility and flexible exchange rate     
            target zones.  40p.                                         
     9443   Normann, Hans-Theo.  Stackelberg warfare as an equilibrium  
            choice in a game with reputation effects.  31p.             



                                                           PAGE  32

     9440   Waldmann, Robert.  Inequality, economic growth and the debt 
            crisis.  33p.                                               

     THE MAURICE FALK INSTITUTE FOR ECONOMIC RESEARCH IN ISRAEL.        

     9407   Beenstock, Michael.  The spatio-economic dimension of       
            immigrant absorption: Israel, 1969-72.  29p.                
     9502   Friedberg, Rachel M.  You can't take it with you?: immigrant
            assimilation and the portability of human capital: evidence 
            from Israel.  42p.                                          
     9505   Blass, Asher A. & Grossman, Richard S.  A costly guarantee?:
            the 1983 Israel bank shares crisis revisited.  29p.         
     9504   Eckstein, Zvi & Shachar, Ron.  On the transition to work of 
            new immigrants: Israel, 1990-92.  39p.                      

     FEDERAL RESERVE BANK OF ATLANTA.  Research Department.             

     9415   Espinosa, Marco & Russell, Steven.  Open market operations  
            with conventional, lasting real effects.  23p.              
     9413   Hu, Jie.  Market breakdowns and price crashes explained by  
            information ambiguity.  27p.                                
     9414   McAndrews, James & Roberds, William.  Banks, payments, and  
            coordination.  30p.                                         
     9416   Espinosa, Marco & Russell, Steven.  A welfare rationale for 
            multiple reserve requirements.  49p.                        
     9412   Moen, Jon R. & Tallman, Ellis W.  Clearinghouse access and  
            bank runs: trust companies in New York and Chicago during   
            the panic of 1907.  22p.                                    
     9417   Noe, Thomas H. & Smith, Stephen D.  Contractual opportunism,
            limited liability, and the role of financial coalitions.    
            39p.                                                        
     95-1   Whitt, Joseph A.  European Monetary Union: evidence from    
            structural VARs.  29p.                                      
     95-2   Noe, Thomas H.  Insider trading and the problem of corporate
            agency.  27p.                                               
     95-3   Chang, Roberto.  Political party negotiations, income       
            distribution and endogenous growth.  39p.                   
     95-4   Noe, Thomas H. & Ramamurtie, Sailesh.  Information quality, 
            performance measurement, and security demand in rational    
            expectations economics.  28p.                               
     95-7   Cushman, David O. & Zha, Tao.  Identifying monetary policy  
            in a small open economy under flexible exchange rates.  40p.
     95-5   Goswami, Gautam, Noe, Thomas & Rebello, Michael.  Collusion 
            in uniform-price auctions: experimental evidence and        
            implications for Treasury auctions.  44p.                   
     95-9   Moen, Jon R & Tallman, Ellis W.  Clearinghouse access and   
            bank runs: comparing New York and Chicago during the panic  
            of 1907.  25p.                                              
     95-6   Sims, Christopher A. & Zha, Tao.  Error bands for impulse   
            responses.  53p.                                            
     95-8   Zha, Tao.  Bankruptcy law, capital allocation, & aggregate  
            effects:a dynamic heterogeneous agent model with incomplete 
            markets.  30p.                                              

     FEDERAL RESERVE BANK OF CHICAGO.  Research Department.             

     9422   Bekaert, Geert, Hodrick, Robert J. & Marshall, David A.  The
            implications of first-order risk aversion for asset market  
            risk premiums.  44p.                                        
                                                           PAGE  33

     9424   Friedman, Benjamin M. & Kuttner, Kenneth N.  Indicator      
            properties of the paper-bill spread: lessons from recent    
            experience.  34p.                                           
     9420   Marcet, Albert & Marshall, David A.  Solving nonlinear      
            rational expectations models by parameterized expectations: 
            convergence to stationary solutions.  56p.                  
     9423   Marshall, David A.  Asset return volatility with extremely  
            small costs of consumption adjustment.  48p.                
     9421   Marshall, David A. & Parekh, Nayam G.  The effect of costly 
            consumption adjustment on asset price volatility.  28p.     
     9425   Hall, George J.  Overtime, effort and the propagation of    
            business cycle shocks.  32p.                                
     9427   Jacobson, Louis S., LaLonde, Robert J. & Sullivan, Daniel G.
             The returns from classroom training for displaced workers. 
            49p.                                                        
     9426   Laurent, Robert D.  Monetary policies in the early 1990s:   
            reflections of the early 1930s.  39p.                       
     9511   Boldrin, Michele, Christiano, Lawrence J. & Fisher, Jonas   
            D.M.  Asset pricing lessons for modeling business cycles.   
            52p.                                                        

     FEDERAL RESERVE BANK OF DALLAS.  Research Department.              

     9415   Haslag, Joseph H.  The effects of monetary policy in a model
            with reserve requirements.  41p.                            
     9501   Huffman, Gregory W.  An equilibrium analysis of central bank
            independence and inflation.  24p.                           
     9502   Haslag, Joseph H.  Inflation and intermediation in a model  
            with endogenous growth.  37p.                               
     9503   Cox, W. Michael & Ruffin, Roy J.  Country-bashing tariffs:  
            do bilateral trade deficits matter?.  21p.                  
     9336   Cox, W. Michael, Gould, David M. & Ruffin, Roy J.  Income   
            taxes as reciprocal tariffs.  14p.                          
     9504   Phillips, Keith R. & Chang, Chih-Ping.  Building a regional 
            forecasting model utilizing long-term relationships and     
            short-term indicators.  22p.                                
     9505   Gould, David M. & Woodbridge, Graeme L.  Building trade     
            barriers and knocking them down: the political economy of   
            unilateral trade liberalizations.  31p.                     
     9506   Grosskopf, Shawna, et al.  On competition and school        
            efficiency.  32p.                                           
     9509   Balke, Nathan S. & Wynne, Mark A..  Are deep recessions     
            followed by strong recoveries?: results for the G-7         
            countries.  26p.                                            
     9510   Brown, Stephen P.A., Oppedahl, David B. & Yucel, Mine K.    
            Oil prices and inflation.  22p.                             
     9508   Huffman, Gregory W. & Wynne, Mark A.  The role of           
            intratemporal adjustment costs in a multi-sector economy.   
            62p.                                                        
     9507   Prowse, Stephen.  Alternative methods of corporate control  
            in commercial banks.  31p.                                  
     9516   Chang, Chih-Ping & Zhang, Huan.  The stock market and       
            monetary policy: the role of macroeconomic states.  28p.    
     9514   Duca, John V.  Credit availability, bank consumer lending,  
            and consumer durables.  33p.                                



                                                           PAGE  34

     9513   Duca, John V.  The interest sensitivity of GDP and accurate 
            reg q measures.  23p.                                       
     9512   Duca, John V.  Regulatory changes and housing coefficients. 
            27p.                                                        
     9511   Haslag, Joseph H.  A comparison of alternative monetary     
            environments.  29p.                                         
     9515   Haslag, Joseph H.  Monetary policy, banking, and growth.    
            31p.                                                        

     FEDERAL RESERVE BANK OF DALLAS.  Financial Industry Studies.       

     5/94   Gunther, Jeffrey W. & Moore, Robert R.  Money, credit and   
            fiscal policy in Mexico's "lost decade".  21p.              
     1/95   Gunther, Jeffery W. & Siems, Thomas F.  The likelihood and  
            extent of bank participation in derivatives activities.     
            15p.                                                        
     2/95   Gunther, Jeffery W.  The erosion of intrastate branch       
            banking restrictions: an ordinal level probit model with    
            irreversibility.  22p.                                      

     FEDERAL RESERVE BANK OF KANSAS CITY.  Research Division.           

     9407   Golob, John E.  Has inflation become more predictable?.     
            17p.                                                        
     9406   Hess, Gregory D., Jones, Christopher S. & Porter, Richard D.
             The predictive failure of the Baba, Hendry and Starr model 
            of the demand for M1 in the United States.  51p.            
     9409   Roley, V. Vance & Bonser-Neal, Catherine.  Are Japanese     
            interest rates too stable?.  45p.                           
     9408   Roley, V. Vance & Wheatley, Simon M.  Time series variation 
            in the interest rate response to money announcements: a     
            re-examinzation of the evidence.  32p.                      
     9411   Filardo, Andrew J. & Gordon, Stephen F.  International      
            co-movements of business cycles.  37p.                      
     9410   Hess, Gregory D. & Wilson, B. Kemp.  Reinterpreting excess  
            sensitivity with precautionary savings.  37p.               
     9414   Hakkio, Craig S. & Sellon, Gordon H.  Monetary policy       
            without intermediate targets: Federal Reserve policy since  
            1983.  36p.                                                 
     9412   Sellon, Gordon H.  Measuring monetary policy.  44p.         
     9413   Weiner, Stuart E.  Structural change in U.S. labor markets: 
            a narrowing of the gap between male and female natural      
            rates.  26p.                                                
     95-4   Bonser-Neal, Catherine & Tanner, Glenn.  Central bank       
            intervention and the volatility of foreign exchange rates:  
            evidence from the options market.  35p.                     
     9503   Neal, Robert.  Direct tests of index arbitrage models.  36p.
     9502   Neal, Robert & Wheatley, Simon.  How reliable are adverse   
            selection models of the bid-ask spread?.  36p.              
     9505   Hess, Gregory D. & Morris, Charles S.  Money is what money  
            predicts: the M* model of the price level.  32p.            
     9501   Clark, Todd E.  Small sample properties of estimators of    
            non-linear models of covariance structure.  46p.            
     9506   Engel, Charles.  Why is the forward exchange rate forecast  
            biased?: a survey of recent evidence.  114p.                



                                                           PAGE  35

     9507   Hess, Gregory D. & Shin, Kwanho.  Intranational business    
            cycles in the United States.  40p.                          
     9509   Engel, Charles & Rogers, John H.  How wide is the border?.  
            26p.                                                        
     9510   Hess, Gregory D. & Iwata, Shigeru.  Measuring business cycle
            features.  46p.                                             
     9508   Kahn, George A.  New estimates of the U.S. economy's        
            potential growth rate.  34p.                                

     FEDERAL RESERVE BANK OF MINNEAPOLIS.  Research Department.         

     185    Fernandez, Raquel & Rogerson, Richard.  On the political    
            economy of education subsidies.  27p.                       
     186    Rupert, Peter, Rogerson, Richard & Wright, Randall.         
            Estimating substitution elasticities in household production
            models.  27p.                                               
     187    Allen, Beth, et al.  Capacity precommitment as a barrier to 
            entry: a Bertrand-Edgeworth approach.  50p.                 
     189    Geweke, John & Zhou, Guofo.  Measuring the pricing error of 
            the arbitrage pricing theory.  36p.                         
     190    Holmes, Thomas J.  Localization of industry and vertical    
            disintegration.  44p.                                       
     188    Mercenier, Jean & Schmitt, Nicholas.  On sunk costs and     
            trade liberalization in applied general equilibrium.  28p.  
     191    McGrattan, Ellen, Rogerson, Richard & Wright, Randall.  An  
            equilibrium model of the business cycle with household      
            production and fiscal policy.  28p.                         
     192    Geweke, John.  Monte Carlo simulation and numerical         
            integration.  73p.                                          
     194    Chin, Dan & Miller, Preston J.  Fixed vs. floating exchange 
            rates: a dynamic general equilibrium analysis.  43p.        
     193    Miller, Preston J.  The jointly optimal inflation tax,      
            income tax structure, and transfers.  34p.                  
     196    Aiyagari, S. Rao.  Comments on Farmer and Guo's "The        
            econometrics of indeterminacy: an applied study".  14p.     
     197    Aiyagari, S. Rao & Peled, Dan.  Social insurance and        
            taxation under sequential majority voting and utilitarian   
            regimes.  29p.                                              
     195    Echevarria, Cristina & Merlo, Antonio.  Gender differences  
            in education in a dynamic household bargaining model.  35p. 
     198    Anderson, Evan W., et al.  On the mechanics of forming and  
            estimating dynamic linear economies.  65p.                  
     199    Christiano, Lawrence J. & den Haan, Wouter.  Small sample   
            properties of GMM for business cycle analysis.  13p.        

     FED RESERVE BANK OF MPLS-UNIV OF MINN.  Inst. for Empirical Macro. 

     95     Cooley, Thomas F., Greenwood, Jeremy & Yorukoglu, Mehmet.   
            The replacement problem.  34p.                              
     96     Mahieu, Ronald & Schotman, Peter.  Stochastic volatility and
            the distribution of exchange rate news.  33p.               
     97     Benhabib, Jess & Velasco, Andres.  On the economics of      
            fiscal populism in an open economy.  31p.                   
     98     Kollmann, Robert.  Fiscal policy, productivity shocks, and  
            the U.S. trade balance deficit.  38p.                       



                                                           PAGE  36

     99     De Santis, Giorgio & Gerard, Bruno.  Time-varying risk and  
            international portfolio diversification with contagious bear
            markets.  32p.                                              
     100    Lagunoff, Roger.  On the dynamic selection of mechanisms for
            provision of public projects.  26p.                         
     101    Uhlig, Harald.  A toolkit for analyzing nonlinear dynamic   
            stochastic models easily.  21p.                             
     103    Ingram, Beth F., Kocherlakota, Narayana R. & Savin, N.E.    
            Measuring the cyclical behavior of home production: a       
            macroeconomic analysis.  22p.                               
     102    Kocherlakota, Narayana R.  The equity premium: it's still a 
            puzzle.  52p.                                               
     104    Fisher, Jonas D.M. & Hornstein, Andreas.  (S,s) inventory   
            policies in general equilibrium.  54p.                      
     105    Huggett, Mark.  The one-sector growth model with            
            idiosyncratic shocks.  19p.                                 
     106    Huggett, Mark & Ventura, Gustavo.  Understanding why high   
            income households save more than low income households.     
            33p.                                                        

     FEDERAL RESERVE BANK OF NEW YORK.  Research & Market Analysis Group

     2      Park, Jun Y., Sarkar, Asani & Wu, Lifan.  The costs and     
            benefits of dual trading.  28p.                             
     1      Posen, Adam.  Central bank independence and disinflationary 
            credibility: a missing link?.  42p.                         
     3      Osler, C.L.  Short-term speculators and the origins of near 
            random walk exchange rate behavior.  66p.                   
     5      Malz, Allan M.  Using option prices to estimate realignment 
            probabilities in the European Monetary System.  47p.        
     4      Osler, C.L. & Chang, P.H. Kevin.  Head and shoulders: not   
            just a flaky pattern.  65p.                                 
     6      Boldin, Michael D.  An efficient, three-step algorithm for  
            estimating error-correction models with an application to   
            the U.S. macroecon.  28p.                                   
     7      Park, Sangkyun.  The relationship between government        
            financial condition and expected tax rates reflected in     
            municipal bond yields.  35p.                                

     FEDERAL RESERVE BANK OF PHILDELPHIA.  Economic Research Division.  

     9422   Cooley, Thomas F., Hansen, Gary D. & Prescott, Edward C.    
            Equilibrium business cycles with idle resources and variable
            capacity utilization.  21p.                                 
     9420   McAndrews, James J. & Roberds, William.  Banks, payments,   
            and coordination.  31p.                                     
     9421   Voith, Richard.  Fares, service levels, and demographics:   
            what determines commuter rail ridership in the long run?.   
            33p.                                                        
     9423   Carlino, Gerald & DeFina, Robert.  Does monetary policy have
            differential regional effects?.  25p.                       
     9425   Chatterjee, Satyajit & Corbae, Dean.  Money and finance in a
            model of costly commitment.  44p.                           
     9424   Hopper, Gregory P.  Time-varying consumption betas and the  
            foreign exchange market.  19p.                              



                                                           PAGE  37

     9427   Calem, Paul S. & Rizzo, John A.  Competition and            
            specialization in the hospital industry: an application of  
            Hotelling's location model.  34p.                           
     9428   Campa, Jose M. & Chang, P.H. Kevin.  Realignment risk in the
            exchange rate mechanism: evidence from pound-mark cross rate
            options.  38p.                                              
     95-1   Chatterjee, Satyajit & Corbae, Dean.  Valuation equilibria  
            with transactions costs.  9p.                               
     9426   Croushore, Dean & Stark, Tom.  Evaluating McCallum's rule   
            for monetary policy.  32p.                                  
     95-2   Shaffer, Sherrill.  Structural screens in stochastic        
            markets.  18p.                                              
     95-3   Allen, Franklin & Gale, Douglas.  A welfare comparison of   
            intermediaries and financial markets in Germany and the U.S.
             51p.                                                       
     95-4   Allen, Franklin & Gale, Douglas.  Financial markets,        
            intermediaries, and intertemporal smoothing.  36p.          
     95-6   Allen, Franklin & Gale, Douglas.  Universal banking,        
            intertemporal risk smoothing, and European financial        
            integration.  20p.                                          
     95-7   Calem, Paul & Stutzer, Michael.  The simple analytics of    
            observed discrimination in credit markets.  37p.            
     95-9   Casteneda, Ana, Diaz-Gimenez, Javier & Rios-Rull,           
            Jose-Victor.  Unemployment spells and income distribution   
            dynamics.  38p.                                             
     95-5   Hopper, Gregory P.  The dynamics of the exchange rate under 
            a crawling peg regime: a game theory approach.  60p.        
     95-8   Hughes, Joseph P., et al.  Recovering technologies that     
            account for generalized managerial preferences: an          
            application to non-risk neutral ban.  34p.                  
     9510   Calem, Paul S. & Mester, Loretta J.  Consumer behavior and  
            the stickiness of credit card interest rates.  33p.         
     9512   Gorton, Gary & Rosen, Richard.  Banks and derivatives.  47p.
     9513   Shaffer, Sherrill.  Translog bias under declining average   
            costs.  30p.                                                
     9511   Voith, richard.  Parking, transit and employment in a       
            central business district.  24p.                            
     9515   Carlino, Gerald & DeFina, Robert.  The differential effects 
            of monetary policy shocks on regional economic activity.    
            34p.                                                        
     9514   Trejos, Alberto & Wright, Randall.  Toward a theory of      
            international currency: a step further.  44p.               
     9516   Calem, Paul S.  Morgage credit availability in low and      
            moderare income minority neighborhoods: are information     
            externalities critic.  37p.                                 
     9517   Nakamura, Leonard I. & Lang, William W.  New directions in  
            information and screening in real estate finance.  13p.     
     9518   Stull, William J.  Is high school economically relevant for 
            noncollege youth?.  26p.                                    
     9519   McAndrews, James J. & Wasilyew, George.  Simulations of     
            failure in a payment system.  22p.                          
     9521   Nakamura, Leonard I.  Is U.S. economic performance really   
            that bad?.  50p.                                            
     9520   Sill, Keith.  Some empirical evidence on money demand from a
            cash-in-advance model.  29p.                                



                                                           PAGE  38


     FEDERAL RESERVE BOARD.  Finance & Economics Discussion Series.     

     9436   Berger, Allen N. & Hannan, Timothy H.  The efficiency cost  
            of market power in the banking industry: a test of the      
            `quiet life' and related hypotheses.  41p.                  
     9435   Eaton, Jonathan & Kortum, Samuel.  International patenting  
            and technology diffusion.  42p.                             
     9434   Hess, Gregory D., Jones, Christopher S. & Porter, Richard D.
             The predictive failure of the Baba, Hendry and Starr model 
            of the demand for M1 in the United States.  51p.            
     9429   Lumpkin, Stephen A. & O'Brien, James M.  Thrift stock       
            returns and balance sheet interest rate sensitivity.  52p.  
     95-4   Fallick, Bruce C. & Hassett, Kevin A.  Unionization and     
            acquisitions.  39p.                                         
     95-1   Fisher, Mark, Nychka, Douglas & Zervos, David.  Fitting the 
            term structure of interest rates with smoothing splines.    
            39p.                                                        
     95-5   Kennickell, Arthur B., Kwast, Myron L. & Starr-McCluer,     
            Martha.  Households' deposit insurance coverage: evidence   
            and analysis of potential reforms.  30p.                    
     95-2   Kortum, Samuel.  Research and productivity growth: theory   
            and evidence from patent data.  58p.                        
     95-3   Mariger, Randall P.  Public policy toward pensions: why     
            defined-contribution pensions dominate government-insured   
            benefit pensions.  48p.                                     
     95-8   Labadie, Pamela A.  Financial intermediation and monetary   
            policy in a general equilibrium banking model.  33p.        
     95-7   Neumark, David & Wascher, William.  Minimum wage effects on 
            school and work transitions of teenagers.  14p.             
     95-6   Schmitt-Grohe, Stephanie.  The international transmission of
            economic fluctuations: effects of U.S. business cycles on   
            the Canadian economy.  50p.                                 
     9510   Carroll, Christopher D. & Kimball, Miles S.  On the         
            concavity of the consumption function.  13p.                
     95-9   Kortum, Samuel S. & Eaton, Jonathan.  Trade in ideas:       
            patenting and productivity in the OECD.  37p.               
     9518   Acharya, Sankarshan.  Charter value, minimum bank capital   
            requirement and deposit insurance pricing in equlibrium.    
            27p.                                                        
     9516   Acharya, Sankarshan.  Debtholders' option to walk out of a  
            bankruptcy process, degree of diversification and multi-tier
            capital structure.  46p.                                    
     9515   Acharya, Sankarshan.  Efficient resolution of moral hazard  
            under no arbitrage: risk premium, volatility and leverage.  
            40p.                                                        
     9514   Fallick, Bruce C.  A review of the recent empirical         
            literature on displaced workers.  46p.                      
     9511   Kupiec, Paul H. & O'Brien, James M.  The use of bank trading
            risk models for regulatory capital purposes.  21p.          
     9512   Mattey, Joe & Strongin, Steve.  Factor utilization and      
            margins for adjusting output: evidence from manufacturing   
            plants.  38p.                                               
     9513   Passmore, Wayne & Sparks, Roger.  Putting the squeeze on a  
            market for lemons: government sponsored mortgage            
            securitization.  31p.                                       


                                                           PAGE  39

     9517   Schmitt-Grohe, Stephanie.  Comparing four models of         
            aggregate fluctuations due to self-fulfilling expectations. 
            60p.                                                        
     9519   Acharya, Sankarshan & Madan, Dilip B.  Asset pricing in an  
            incomplete market with a locally risky discount factor.     
            35p.                                                        
     9528   Acharya, Sankar.  Credit rating enhancement norms and       
            ratings-based bank capital and deposit insurance premium.   
            33p.                                                        
     9522   Berger, Allen N., Cummins, J. David & Weiss, Mary A.  The   
            coexistence of multiple distribution systems for financial  
            services: the case of property-liability insurance.  54p.   
     9523   Berger, Allen N., Herring, Richard J. & Szego, Giorgio P.   
            The role of capital in financial institutions.  51p.        
     9521   Berger, Allen N. & Udell, Gregory F.  Universal banking and 
            the future of small business lending.  62p.                 
     9525   Calem, Paul S. & Nakamura, Leonard I.  Branch banking and   
            the geography of bank pricing.  44p.                        
     9527   Cole, Rebel A. & Eisenbeis, Robert A.  The role of          
            principal-agent conflicts in the 1980s thrift crisis.  31p. 
     9526   Kupiec, Paul H.  Noise traders, excess volatility, and a    
            securities transactions tax.  19p.                          
     9524   Kupiec, Paul H.  Techniques for verifying the accuracy of   
            risk measurement models.  45p.                              
     9520   Sharpe, Steven A.  Bank capitalization, regulation, and the 
            credit crunch: a critical review of the research findings.  
            36p.                                                        
     9533   Aizcorbe, Ana M. & Kozicki, Sharon.  The comovement of      
            output and labor productivity in aggregate data for auto    
            assembly plants.  32p.                                      
     9532   Cohen, Darrel, Hassett, Kevin & Kennedy, Jim.  Are U.S.     
            investment and capital stocks at optimal levels?.  23p.     
     9534   Mariger, Randall P.  Labor supply and the Tax Reform Act of 
            1986: evidence from panel data.  19p.                       
     9531   Mariger, Randall P.  Taxes, capital gains realizations, and 
            revenues: a critical review and some new results.  33p.     
     9529   Swamy, P.A.V.B, et al.  Determinants of U.S. commercial bank
            performance: regulatory and econometric issues.  47p.       
     9530   Williams, John C.  The limits to "growing an economy".  42p.
     9540   Bomfin, Antulio N.  The equilibrium federal funds rate and  
            the indicator properties of term structure spreads.  28p.   
     9538   David, Alexander.  Controlling information premia by        
            repacking asset backed securities.  37p.                    
     9537   Kennedy, James E.  An analysis of time-series estimates of  
            capacity utilization.  46p.                                 
     9535   Kortum, Samuel S. & Eaton, Jonathan.  Engines of growth:    
            domestic and foreign sources of innovation.  39p.           
     9536   Kupiec, Paul H. & O'Brien, James M.  A pre-commitment       
            approach to capital requirements for market risk.  24p.     
     9539   Williams, John C. & Jones, Charles I.  Too much of a good   
            thing?: the economics of investment in R & D.  44p.         
     9542   Carroll, Christopher D., Overland, Jody & Weil, David N.    
            Saving and growth with habit formation.  34p.               
     9541   Kennickell, Arthur B.  Saving and permanent income: evidence
            from the 1992 Survey of Consumer Finance.  21p.             



                                                           PAGE  40

     9543   Krane, Spencer D. & Wascher, William L.  The cyclical       
            sensitivity of seasonality in U.S. employment.  46p.        
     9546   Jovanovic, Boyan & Lach, Saul.  Product innovation and the  
            business cycle.  28p.                                       
     9545   Lebow, David E., Stockton, David J. & Wascher, William L.   
            Inflation, nominal wage rigidity, and the efficiency of     
            labor markets.  42p.                                        
     9544   Schmitt-Grohe, Stephanie & Uribe, Martin.  Balanced budget  
            rules, distortionary taxes, and aggregate instability.  37p.

     FEDERAL RESERVE BOARD.  International Finance Papers.              

     489    Brunner, Allan D.  On the dynamic properties of asymmetric  
            models of real GNP.  21p.                                   
     494    Ahmed, Shaghil & Rogers, John H.  Government budget deficits
            and trade deficits: are present value constraints satisfied 
            in long term data?.  27p.                                   
     492    Bowman, David, Minehart, Deborah & Rabin, Matthew.  Loss    
            aversion in a consumption/savings model.  35p.              
     496    Dekle, Robert.  Saving-investment association and capital   
            mobility on the evidence from Japanese regional data.  25p. 
     491    Mendoza, Enrique G.  Terms-of-trade uncertainty and economic
            growth: are risk indicators significant in growth           
            regressions?.  38p.                                         
     495    Rogers, John H.  Convertibility risk, default risk, and the 
            Mexdollar anomaly.  10p.                                    
     493    Rogers, John H.  Real shocks and real exchange rates in     
            really long-term data.  38p.                                
     490    Stevens, Guy V.G.  Politics, economics, and investment:     
            explaining plant & equipment spending by U.S. direct        
            investors in Argentina, B.  53p.                            
     502    Ammer, John & Mei, Jianping.  Strategic returns to          
            international diversification: an application to the equity 
            markets of Europe, Japan, and Nort.  22p.                   
     497    Bowman, David.  Constrained suboptimality in economies with 
            limited communication.  28p.                                
     498    Engel, Charles & Rogers, John H.  How wide is the border?.  
            36p.                                                        
     499    Kim, Sang W. & Rogers, John H.  International stock price   
            spillovers and market liberalization: evidence from Korea,  
            Japan, and the U.S.  23p.                                   
     500    Rogers, Diane L. & Rogers, John H.  Political competition,  
            causal relationships between taxes and spending, and their  
            influence on gvt. size.  23p.                               
     501    Rogers, John H. & Wang, Ping.  Real exchange rate movements 
            in high inflation countries.  32p.                          
     503    Uribe, Martin.  Exchange-rate based inflation stabilization:
            the initial real effects of credible plans.  36p.           
     504    Den Haan, Wouter J. & Levin, Andrew T.  Inference from      
            parametric and non-parametric covariance matrix estimation  
            procedures.  43p.                                           
     506    Ericsson, Neil R. & Irons, John S.  The Lucas critique in   
            practice: theory with measurement.  96p.                    
     507    Mendoza, Enrique G. & Tesar, Linda L.  Supply-side economics
            in a global economy.  58p.                                  



                                                           PAGE  41

     505    Uribe, Martin.  Real exchange rate targeting and            
            macroeconomic instability.  32p.                            
     508    Swagel, Philip.  Import prices and the competing goods      
            effect.  30p.                                               
     509    Uribe, Martin.  Hysteresis in a simple model of currency    
            substitution.  24p.                                         
     510    Bowman, David & Faust, Jon.  Options, sunspots, and the     
            creation of uncertainty.  24p.                              
     512    Ghosal, Vivek & Loungani, Prakash.  Evidence on nominal wage
            rigidity from a panel of U.S. manufacturing industries.     
            26p.                                                        
     511    Mendoza, Enrique G., Milesi-Ferretti, Gian Maria & Asea,    
            Patrick.  Do taxes matter for long-run growth?: Harberger's 
            superneutrality conjecture.  44p.                           
     513    Brunner, Allan D. & Kamin, Steven B.  Bank lending and      
            economic activity in Japan: did "financial factors"         
            contribute to the recent downturn?.  42p.                   
     516    Faust, Jon & Tryon, Ralph.  Block distributed methods for   
            solving multi-country econometric models.  17p.             
     515    Loungani, Prakash & Swagel, Phillip.  Supply-side sources of
            inflation: evidence from OECD countries.  40p.              
     514    Sheets, Nathan.  Capital flight from the countries in       
            transition: some theory and empirical evicence.  46p.       
     520    Ammer, John & Brunner, Allan D.  When is monetary policy    
            effective?.  29p.                                           
     522    Brunner, Allan D. & Simon, David P.  Excess returns and risk
            at the long end of the Treasury market: an EGARCH-M         
            approach.  20p.                                             
     521    Copelman, Martina & Werner, Alejandro M.  The monetary      
            transmission mechanism in Mexico.  31p.                     
     518    Edison, Hali J. & Melick, William R.  Alternative approaches
            to real exchange rates and real interest rates: three up and
            three down.  32p.                                           
     517    Ghosal, Vivek & Loungani, Prakash.  Product market          
            competition and the impact of price uncertainty on          
            investment: some evidence from U.S. manufacturing.  17p.    
     519    Loungani, Prakash & Sheets, Nathan.  Central bank           
            independence, inflation and growth in transition economies. 
            33p.                                                        
     525    Freeman, Richard T. & Willis, Jonathan L.  Targeting        
            inflation in the 1990s: recent challenges.  55p.            
     526    Henderson, Dale W. & Zhu, Ning S.  Uncertainty, instrument  
            choice and the uniqueness of Nash equilibrium: microeconomic
            and macroeconomic examples.  56p.                           
     527    Hooper, Peter & Vrankovich, Elizabeth.  International       
            comparisons of the levels of unit labor costs in            
            manufacturing.  66p.                                        
     524    Iyigun, Murat F.  Economic development and intergenerational
            economic mobility.  30p.                                    
     523    Iyigun, Murat F.  Human capital accumulation, fertility and 
            growth: a re-analysis.  16p.                                
     528    Stevens, Guy V.G.  On the inverse of the covariance matrix  
            in portfolio analysis.  13p.                                
     529    Miller, Marcus & Zhang, Lei.  Hyperinflation and            
            stabilisation: Cagan revisited.  21p.                       



                                                           PAGE  42


     FEDERAL TRADE COMMISSION.  Bureau of Economics.                    

     208    Grawe, Oliver, Howarth, Dolly & Morkre, Morris.  Did        
            depreciation of the dollar render the steel voluntary       
            restraint agreement nonbinding?.  63p.                      
     209    Simpson, John.  When does new entry deter collusion?.  17p. 

     UNIVERSITE DE GENEVE.  Faculte des Sci. Economiques et Sociales.   

     9504   Balasko, Yves.  Equilibrium analysis of the infinite horizon
            model with smooth discounted utility functions.  67p.       
     9501   Balasko, Yves & Cres, Herve.  The probability of Condorcet  
            cycles and super majority rules.  29p.                      

     HARVARD UNIVERSITY.  Institute of Economic Research.               

     1701   Cooper, Richard N.  Foreign trade, wages, and unemployment. 
            35p.                                                        
     1700   Davis, Donald R.  Bilateral trade in a multilateral world:  
            is Heckscher-Ohlin trade North-South trade?.  26p.          
     1702   Harless, Andrew & Medoff, James.  Impending inflation:      
            indicators for today's economy.  24p.                       
     1696   Hart, Oliver & Moore, John H.  Debt and seniority: an       
            analysis of the role of hard claims in constraining         
            management.  54p.                                           
     1697   Kornai, Janos.  Lasting growth as the top priority:         
            macroeconomic tensions and government economic policy in    
            Hungary.  54p.                                              
     1698   Maskin, Eric & Tirole, Jean.  Markov perfect equilibrium.   
            46p.                                                        
     1699   Medoff, James L. & Harless, Andrew D.  "Jobs, stupid".  24p.
     1703   Tornell, Aaron & Velasco, Andres.  Fixed versus flexible    
            exchange rates: which provides more fiscal discipline?.     
            37p.                                                        
     1706   Baliga, Sandeep, Corchon, Luis & Sjostrom, Tomas.  The      
            theory of implementation when the planner is a player.  43p.
     1710   Ball, Laurence, Elmendorf, Douglas W. & Mankiw, N. Gregory. 
            The deficit gamble.  47p.                                   
     1711   Campbell, John Y.  Understanding risk and return.  62p.     
     1708   Campbell, John Y. & Cochrane, John H.  By force of habit: a 
            consumption-based explanation of aggregate stock market     
            behavior.  47p.                                             
     1704   Jorgenson, Dale W.  Empirical studies of depreciation.  38p.
     1707   Jorgenson, Dale W. & Stiroh, Kevin.  Computers and growth.  
            38p.                                                        
     1709   O'Rourke, Kevin & Williamson, Jeffrey G.  Open economy      
            forces and late 19th century Scandinavian catch-up.  92p.   
     1705   Weitzman, Martin L.  The Noah's Ark problem.  27p.          
     1713   Campbell, John Y.  Some lessons from the yield curve.  33p. 
     1716   Chamberlain, Gary & Imbens, Guido W.  Semiparametric        
            applications of Bayesian inference.  60p.                   
     1718   Grenadier, Steven R. & Hall, Brian J.  Risk-based capital   
            standards and the riskiness of bank portfolios: credit and  
            factor risks.  41p.                                         



                                                           PAGE  43

     1719   Griliches, Zvi & Mairesse, Jacques.  Production functions:  
            the search for identification.  39p.                        
     1717   Krishna, Vijay & Sjostrom, Tomas.  On the convergence of    
            fictitious play.  34p.                                      
     1712   Kwoka, John E.  Public vs. private ownership and economic   
            performance: evidence from the U.S. eletric power industry. 
            37p.                                                        
     1720   Lane, Philip R. & Tornell, Aaron.  Power concentration and  
            growth.  40p.                                               
     1715   Sachs, Jeffrey D. & Warner, Andrew M.  Economic convergence 
            and economic policies.  47p.                                
     1714   Sicular, Terry.  Why quibble about quotas?: the effects of  
            planning in rural China.  39p.                              
     1721   Barberis, Nicholas, et al.  How does privatization work?:   
            evidence from the Russian shops.  37p.                      
     1723   Lopez De Silanes, Florencio, Shleifer, Andrei & Vishny,     
            Robert W.  Privatization in the United States.  37p.        
     1724   Sachs, Jeffrey, Tornell, Aaron & Velasco, Andres.  The      
            collapse of the Mexican peso: what have we learned?.  55p.  
     1725   Shleifer, Andrei & Vishny, Robert W.  The limits of         
            arbitrage.  25p.                                            
     1722   Weitzman, Martin L.  Recombinant growth.  29p.              
     1726   Davis, Donald R., et al.  Interregional and international   
            trade: Woody Allen was right!.  49p.                        
     1729   Mandler, Michael.  Interpersonal comparisons of utility and 
            the policy paralysis problem.  44p.                         
     1727   Morduch, Jonathan.  Income smoothing and consumption        
            smoothing.  20p.                                            
     1728   Morduch, Jonathan & Stern, Hal S.  Using mixtures models to 
            detect sex bias in health outcomes in Bangladesh.  24p.     
     1740   Ball, Laurence & Mankiw, N. Gregory.  What do budget        
            deficits do?.  37p.                                         
     1732   Barr, David G. & Campbell, John Y.  Inflation, real interest
            rates, and the bond market: a study of U.K. nominal and     
            index linked government bond price.  43p.                   
     1730   Bergson, Abram.  The big bang in Russia: an overview.  27p. 
     1734   Bohn, James & Hall, Brian J.  Property and casualty solvency
            funds as a tax and social insurance system.  48p.           
     1735   Christensen, Laurits R. & Caves, Richard E.  Cheap talk and 
            investment rivalry in the pulp and paper industry.  35p.    
     1738   Glaeser, Edward I., Sacerdote, Bruce & Scheinkman, Jose A.  
            Crime and social interactions.  55p.                        
     1736   Imbens, Guido W., Johnson, Phillip & Spady, Richard H.      
            Information theoretic approaches to inference in moment     
            condition models.  33p.                                     
     1731   Mankiw, N. Gregory.  The growth of nations.  60p.           
     1733   Sachs, Jeffrey & Warner, Andrew.  Economic reform and the   
            process of global integration.  114p.                       
     1741   Shleifer, Andrei & Vishny, Robert W.  A survey of corporate 
            governance.  82p.                                           
     1739   Tornell, Aaron.  Economic growth and decline with endogenous
            property rights.  37p.                                      
     1737   Weitzman, Martin L.  Sustainability and the welfare         
            significance of national product revisited.  13p.           




                                                           PAGE  44


     HEBREW UNIV. Center for Rationality & Interactive Decision Theory. 

     57     Aumann, Robert & Brandenberger, Adam.  Epistemic conditions 
            for Nash equilibrium.  22p.                                 
     52     Balkenborg, Dieter.  Strictness and evolutionary stability. 
            45p.                                                        
     58     Einy, Ezra, Holzman, Ron & Shitovitz, Benyamin.  Core and   
            stable sets of large games arising in economics.  18p.      
     53     Hart, Sergiu & Monderer, Dov.  Potentials and weighted      
            values of non-atomic games.  21p.                           
     56     Krisha, Vijay & Morgan, John.  An anaysis of the war of     
            attrition and the all-pay auction.  31p.                    
     54     Ma, Jinpeng.  Infinitely repeated rental model with         
            incomplete information.  9p.                                
     55     Ma, Jinpeng.  Stable matchings and rematching-proof         
            equilibria in a two-sided matching market.  32p.            
     61     Agastya, Murali.  An evolutionary bargaining model.  31p.   
     62     Agastya, Murali.  Ordinality of the Shapley value.  10p.    
     63     Agastya, Murali.  Perseverence, information and             
            stochastically stable outcomes.  13p.                       
     59     Aumann, Robert J.  Backward induction and common knowledge  
            of rationality.  14p.                                       
     67     Aumann, Robert J.  Interactive epistemology.  59p.          
     68     Avenhaus, Rudolf, Von Stengel, Bernhard & Zamir, Shmuel.    
            Inspection games.  47p.                                     
     64     Glazer, Jacob & Perry, Motty.  Virtual implementation in    
            backwards induction.  9p.                                   
     66     Hart, Sergiu & Mas-Colell, Andreu.  Bargaining and value.   
            52p.                                                        
     65     Neyman, Abraham.  Cooperation in the repeated prisoners'    
            dilemma when the number of stages is not commonly known.    
            33p.                                                        
     60     Orshan, Gooni.  Non-symmetric prekernels.  100p.            
     71     Bar-Hillel, Maya & Neter, Efrat.  Why are people reluctant  
            to exchange lottery tickets?.  26p.                         
     70     Mertens, Jean-Francois & Zamir, Shmuel.  Incomplete         
            information games and the normal distribution.  39p.        
     73     Rapoport, Amnon, Seale, Darryl A. & Sundali, James A.  Tacit
            coordination in large groups: tests of the equilibrium      
            solution.  56p.                                             
     74     Rothenstein, Daniel.  A two-period pollution safeguards game
            with n operators.  44p.                                     
     72     Sundali, James A., Rapoport, Amnon & Seale, Darryl A.       
            Coordination in market entry games with asymmetric players. 
            46p.                                                        
     76     Aumann, Robert J.  Rationality and bounded rationality.     
            12p.                                                        
     78     Aumann, Robert J.  Reply to Margalit and Yaari.  2p.        
     77     Bergman, Yaacov Z., Grundy, Bruce D. & Wiener, Zvi.  Theory 
            of rational option pricing, II.  82p.                       
     75     Krishna, Vijay & Rosenthal, Robert W.  Simultaneous auctions
            with synergies.  36p.                                       
     80     Neyman, Abraham.  Correlated equilibrium and potential      
            games.  6p.                                                 



                                                           PAGE  45

     69     Neyman, Abraham.  Finitely repeated games with finite       
            automata.  53p.                                             
     79     Risse, Mathias.  A syntactic model of foregetting a         
            partially solved problem.  82p.                             
     81     Granot, Daniel & Maschler, Michael.  The reactive bargaining
            set: structure, dynamics and extension to NTU games.  20p.  

     HEBREW UNIVERSITY.  Department of Economics.                       

     292    Angrist, Joshua D.  Using social security data on military  
            applicants to estimate the effect of voluntary military     
            service on civilian .  56p.                                 
     296    Galor, Oded & Weil, David N.  The gender gap, fertility, and
            growth.  32p.                                               
     297    Galor, Oded & Tsiddon, Daniel.  Human capital distribution, 
            technological progress and economic growth.  50p.           
     300    Kleiman, Ephraim.  The economic provisions of the agreement 
            between Israel and the PLO.  29p.                           
     301    Kleiman, Ephraim & Rubinstein, Yona.  The Leuthold free     
            rider experiment: some results from an Israeli sample.  26p.
     294    Lambert, Peter & Yitzhaki, Shlomo.  Equity, equality, and   
            welfare.  24p.                                              
     298    Lavy, Victor, et al.  Quality of health care, survival and  
            health outcomes in Ghana.  31p.                             
     295    Mayshar, Joram & Yitzhaki, Shlomo.  Dalton-improving tax    
            reform: when households differ in ability and needs.  26p.  
     299    Yafeh, Yishay & Yosha, Oved.  Large sharholders and banks:  
            who monitors and how?.  34p.                                
     293    Yitzhaki, Shlomo & Eisenstaedt, Maggie.  Ranking individuals
            versus groups.  20p.                                        
     306    Barkai, Haim.  Oppenheimer and the Zionist resettlement of  
            Palestine: the Genossenschaft versus the collective         
            settlement.  62p.                                           
     307    Dahan, Momi.  Endogenous fertility and income distribution. 
            27p.                                                        
     304    Lavy, Victor, Palumbo, Michael & Stern, Steven.  Quality    
            medical facilities, health, and labor force participation in
            Jamaica.  35p.                                              
     302    Pitt, Mark M. & Lavy, Victor.  The intrahousehold allocation
            of medical care in low income countries.  29p.              
     305    Sussman, Oren & Zeira, Joseph.  The economics of transition:
            some theoretical issues.  33p.                              
     303    Thomas, Duncan, Lavy, Victor & Strauss, John.  Public policy
            and anthropometric outcomes in the Cote d'Ivoire.  34p.     

     HITOTSUBASHI UNIVERSITY.  Institute for Economic Research.         

     301    Boyer, Robert.  Wage austerity or/and an educational push:  
            the French dilemma.  43p.                                   
     298    Fujiki, Hiroshi & Kitamura, Yukinobu.  Feldstein-Horioka    
            paradox revisited.  19p.                                    
     299    Fukao, Kyoji.  Coordination faiures under incomplete        
            information and global games.  26p.                         
     300    Fukao, Kyoji, et al.  R & D investment and overseas         
            production: an empirical analysis of Japan's electric       
            machinery industry.  80p.                                   


                                                           PAGE  46

     297    Konno, Yoshihiko, Kariya, Takeaki & Strawderman, William E. 
            Construction of improved estimators for the regression      
            coefficient matrix in GMANOVA models.  15p.                 
     304    Fukuda, Shin-ichi.  Moral hazard in an insurance market and 
            the optimum quantity of money.  17p.                        
     307    Fukuda, Shin-ichi.  The structural determinants of invoice  
            currencies in Japan: the case of foreign trades with East   
            Asian countries.  28p.                                      
     306    Verma, P.C.  India's international trade in services.  28p. 
     305    Zaitsev, Valery.  Economic reforms in Russia and Japan's    
            experience in post-war economic development.  24p.          
     310    Belderbos, Rene, Jie a Joen, Clive & Sleuwaegen, Leo.       
            Cascading contingent protection and vertical market         
            structure.  26p.                                            
     311    Xue, Jinjun.  Human resource development and economic       
            growth.  38p.                                               
     309    Kamizono, Kenji & Kariya, Takeaki.  An implementation of the
            HJM model with application to Japanese interest futures.    
            29p.                                                        
     312    Miyagawa, Tsutomu.  The role of technical progress in       
            Japanese environmental problems.  30p.                      

     HONG KONG UNIVERSITY OF SCIENCE & TECHNOLOGY.  Dept. of Economics. 

     95-4   Chan, Louis.  A general economic analysis of corruption.    
            21p.                                                        
     95-9   Devarajan, Shantayanan, Xie, Danyang & Zou, Heng-Fu.  Does  
            public capital formation promote economic growth?.  27p.    
     9511   Lee, Lung-Fei.  A basic recursion for Markov switching      
            models.  9p.                                                
     95-5   Lee, Lung-Fei.  A likelihood simulator for dynamic          
            disequilibrium models.  50p.                                
     9512   Lee, Lung-Fei.  Simulation estimation of dynamic switching  
            regression & dynamic disequilibrium models: some Monte Carlo
            results.  66p.                                              
     9510   Qiu, Larry D.  R & D investment and product diffentiation:  
            Cournot vs. Bertrand competition.  22p.                     
     95-8   Qiu, Larry.  Why can't countervailing duties deter export   
            subsidization?.  29p.                                       
     95-1   Razin, Assaf & Yuen, Chi-Wa.  Capital income taxation and   
            long run growth: new perspectives.  31p.                    
     95-2   Razin, Assaf & Yuen, Chi-Wa.  Utilitarian tradeoff between  
            population growth and income growth.  11p.                  
     95-3   Wang, Susheng.  The determinants of aggregate wealth.  30p. 
     95-7   Xie, Danyang.  A technical issue in Stackelberg differential
            games.  18p.                                                
     95-6   Zhao, Haiying.  The mechanism whereby trade influences      
            growth: empirical evidence.  25p.                           
     95/6-4 Chan, Louis M.  Why do people have different beliefs?.  28p.
     95/6-1 Ehrlich, Isaac & Lui, Francis T.  The problem of population 
            and growth: a review literature from Malthus to contempory  
            models of endogenous populatio.  34p.                       
     95/6-5 Qiu, Larry D.  R & D incentives in a differentiated duopoly 
            with spillovers.  25p.                                      




                                                           PAGE  47

     95/6-6 Tao, Zhigang & Wu, Changqi.  On the organization of         
            cooperative R & D: theory and evidence.  30p.               
     95/6-3 Tao, Zhingang & Wang, Susheng.  Preferences for short-term  
            contracts with the incentive to learn.  37p.                
     95/6-2 Wang, Susheng.  Pensions in wealth accumulation.  36p.      

     HOOVER INSTITUTION.  Domestic Studies Program.                     

     94-4   Attanasio, Orazio P.  The intertemporal allocation of       
            consumption: theory and evidence.  48p.                     
     94-2   Attanasio, Orazio P. & Weber, Guglielmo.  Is consumption    
            growth consistent with intertemporal optimization? evidence 
            from the Consumer Expenditure Survey.  30p.                 
     94-3   Attanasio, Orazio P. & Davis, Steven J.  Relative wage      
            movements and the distribution of consumption.  56p.        
     94-7   Glaeser, Edward L.  Economic growth and urban density: a    
            review essay.  33p.                                         
     94-8   Glaeser, Edward L.  The incentive effects of property taxes 
            on local governments.  24p.                                 
     94-6   Matsusaka, John G.  Fiscal effects of direct legislation:   
            evidence from the last 30 years.  37p.                      
     94-9   Matsusaka, John G. & Nanda, Vikram.  A theory of the        
            diversified firm, refocusing, and divestiture.  28p.        
     94-5   Rosen, Sherwin.  Managerial compensation, control and       
            investment.  19p.                                           
     9411   Glaeser, Edward L. & Mare, David C.  Cities and skills.     
            48p.                                                        
     95-2   Glaeser, Edward L., Sacerdote, Bruce & Scheinkman, Jose A.  
            Crime and social interactions.  71p.                        
     9410   Glaeser, Edward L. & Scheinkman, Jose A.  Neither a borrower
            nor lender be: an economic analysis of interest restrictions
            and usury laws.  54p.                                       
     95-1   Glaeser, Edward L. & Scheinkman, Jose A.  The transition to 
            free markets: where to begin privatization.  27p.           
     95-3   Judd, Kenneth L.  The optimal tax on capital income is      
            negative.  30p.                                             

     UNIVERSITY OF ICELAND.  Faculty of Economics & Business Admin.     

     26     Einarsson, Tor.  Labour income taxation and welfare under   
            endogenous growth.  15p.                                    
     25     Herbertsson, Tryggvi T.  Growth accounting: an alternative  
            approach.  22p.                                             
     29     Gislason, Gylfi T.  Fisheries management in Iceland and J.  
            Warming's contributions to fishery economics.  6p.          
     27     Gylfason, Thorvaldur.  Reforms in Eastern Europe.  30p.     
     28     Petursson, Thorarinn G.  The optimal currency composition of
            foreign reserves.  27p.                                     
     31     Baldursson, Fridrik M.  Industry equilibrium and            
            irreversible investment under uncertainty in oligopoly.     
            17p.                                                        
     30     Gylfason, Thorvaldur.  Integration between East and West:   
            How deep?  How soon?.  15p.                                 
     32     Stefansson, Bjorn S.  On the fundamental thought behind     
            voting rules.  5p.                                          



                                                           PAGE  48


     INSTITUT NATIONAL DE LA STATISTIQUE ET DES ETUDES ECONOMIQUES.     

     9460   Deaton, A. & Laroque, G.  Competitive storage and commodity 
            price dynamics.  36p.                                       
     9457   Dupuis, J.A.  Bayesian test of homogeneity for Markov chains
            with missing data by Kullback proximity.  21p.              
     9459   Gourieroux, C. & Jouneau, F.  Efficiency fitted portfolios. 
            51p.                                                        
     9456   Leblanc, F.  Estimation of the marginal density of a        
            continuous time stochastic process by wavelets and an       
            application to diffus.  30p.                                
     9458   Magnac, T., Robin, J.M. & Visser, M.  Analysing incomplete  
            individual employment histories using indirect inference.   
            22p.                                                        
     95-2   Broze, L., Melard, G. & Scaillet, O.  Forecast intervals in 
            ARCH exponential smoothing.  24p.                           
     9503   Broze, L., Scaillet, O. & Zakoian, J.M.  Testing for        
            continuous time models of the short term interest rate.     
            29p.                                                        
     9501   Deaton, A. & Laroque, G.  Estimating a nonlinear rational   
            expectations model with unobservable state variables.  42p. 
     9515   Abowd, J., et al.  A la recherche des moments perdus:       
            covariance models for unbalanced panels with endogenous     
            death.  39p.                                                
     9508   Abowd, J., Kramarz, F. & Moreau, A.  Product quality and    
            worker quality.  30p.                                       
     9509   Berred, A.M.  Sums of k-record values and the exponent of   
            regular variation.  21p.                                    
     9511   Broze, L., Scaillet, O. & Zakoian, J.M.  Quasi indirect     
            inference for diffusion processes.  55p.                    
     9506   Guerre, E.  On the score function of the Box-Cox            
            transformation for integrated time series.  36p.            
     9514   Jouini, E. & Kallal, H.  Arbitrage in securities markets    
            with short sales constraints.  38p.                         
     9512   Jouini, E. & Kallal, H.  Efficient trading strategies in the
            presence of market frictions.  34p.                         
     9513   Jouini, E. & Kallal, H.  Martingales and arbitrage in       
            securities and markets with transaction costs.  18p.        
     9510   Laroque, G. & Rabault, G.  The inventory cycle: from theory 
            to empirical evidence.  20p.                                
     9504   Philippe, A. & Robert, C.P.  A note on the confidence       
            properties of reference priors for the calibration model.   
            17p.                                                        
     9505   Robin, J.M. & Smith, R.J.  Tests of rank.  45p.             
     9526   Aubin, C., et al.  An econometric analysis of a real-time   
            pricing of electricity experiment.  21p.                    
     9523   Caillaud, B., Jullien, B. & Picard, P.  National vs.        
            European industrial policies: bargaining, information and   
            coordination of incentives.  30p.                           
     9517   Calinski, T. & LeJeune, M.  Factor analysis of matrices with
            aplications to multivariate analysis of variance.  31p.     
     9520   Curien, N., Jullien, B. & Rey, P.  Pricing regulation under 
            bypass competition.  52p.                                   




                                                           PAGE  49

     9524   Dormont, B.  Looking for labor demand heterogeneity.  19p.  
     9516   Erkel-Rousse, H. & Melitz, J.  New empirical evidence on the
            costs of European Monetary Union.  25p.                     
     9522   Jullien, B. & Picard, P.  A classical model of involuntary  
            unemployment: efficiency wages and macroeconomic policy.    
            31p.                                                        
     9518   Kramarz, F., Lolliver, S. & Pele, L.P.  Wage inequalities   
            and firm-specific compensation policies in France.  24p.    
     9529   Francq, C. & Zakoian, J.M.  Multivariate ARMA models with   
            generalized autoregressive linear innovation.  23p.         
     9528   Gayraud, G.  Estimation of functionals of density support.  
            18p.                                                        
     9530   Leblanc, B. & Scaillet, O.  Path dependent options on yields
            in the affine term structure model.  24p.                   
     9519   Lieberman, O.  The effect of nonnormality.  24p.            
     9533   Burridge, P. & Guerre, E.  The limit distribution of level  
            crossings of a random walk, and a simple unit root test.    
            31p.                                                        
     9537   Comanor, W.S. & Rey, P.  Vertical restraints and the market 
            power of large distributors.  35p.                          
     9536   Comte, F. & Hardouin, C.  Regression on log-regularized     
            periodogram for fractional models at low frequencies.  19p. 
     9535   Comte, F. & Hardouin, C.  Regression on log-regularized     
            periodogram under assumption on bounded spectral densities: 
            the non fractional and th.  14p.                            
     9531   Duguet, E.  An empirical analysis of technical cooperation  
            at the firm level in the 80s.  28p.                         
     9534   Pham, H.  Optimal stopping, free boundary and American      
            option in a jump diffusion model.  19p.                     
     9539   Comte, F. & Hardouin, C.  Regression on log-regularized     
            periodogram: comparison with Whittle estimator and study of 
            the non Gaussian case.  19p.                                
     9540   Crepon, B., Duguet, E. & Kabla, I.  Schumpeterian           
            conjectures: a moderate support from various innovation     
            measures.  40p.                                             
     9538   Robert, C.P. & Mengersen, K.L.  Reparameterisation issues in
            mixture modelling and their bearing on the Gibbs sampler.   
            24p.                                                        
     9542   Abowd, J.M., Corbel, P. & Kramarz, F.  The entry and exit of
            workers and the growth of employment: an analysis of French 
            establishments.  29p.                                       
     9541   Broze, L. & Gourieroux, C.  Pseudo maximum likelihood       
            method, adjusted pseudo maximum likelihood method and       
            covariance estimators.  31p.                                

     INSTITUTO DE MATEMATICA PURA E APLICADA (BRAZIL).                  

     90     Araujo, Aloisio P. & Maldonado, Wilfredo L.  Empirical      
            measures and sunspot equilibrium.  34p.                     
     91     Araujo, Aloisio & Pascoa, Mario R.  Real determinacy,       
            financial markets and default.  31p.                        
     89     de Deus Oliveira, Rogerio.  Arbitrage pricing of integral   
            options.  12p.                                              

     INSTITUTO TECNOLOGICO AUTONOMO DE MEXICO. Centro de Invest. Econ.  

     9410   Bona, Jerry L. & Santos, Manuel S.  On the role of          
            computation in economic theory.  41p.                       
                                                           PAGE  50

     9408   Cooley, Thomas F. & Yorukoglu, Mehmet.  The replacement     
            problem.  34p.                                              
     9407   Hernandez, Alejandro & Santos, Manuel S.  Competitive       
            equilibria for infinite-horizon economies with incomplete   
            markets.  33p.                                              
     9409   Ortigueria, Salvador & Santos, Manuel S.  On convergence in 
            endogenous growth models.  31p.                             
     9411   Renero, Juan M.  Gresham's Law type equilibria in the       
            Kiyotaki-Wright model.  38p.                                
     9501   Bhattacharya, Joydeep, et al.  Monetary, fiscal, and bank   
            regulatory policy in a simple monetary growth model.  36p.  
     9505   Cragg, Michael I. & Epelbaum, Mario.  The premium for skills
            in LDC's: evidence from Mexico.  34p.                       
     9506   Cragg, Michael I. & Epelbaum, Mario.  Why is wage dispersion
            growing in Mexico?: Is it the incidence of reforms or the   
            growing demand for skills?.  27p.                           
     9503   Ladron de Guevara, Antonio, Ortigueira, Salvador & Santos,  
            Manuel.  A two-sector model of endogenous growth with       
            leisure.  44p.                                              
     9502   Renero, Juan M.  Welfare of alternative equilibrium paths in
            the Kiyotaki-Wright model.  34p.                            
     9504   Santos, Manuel S. & Vigo, Jesus.  Error bounds for a        
            numerical solution for dynamic economic models.  9p.        

     UNIVERSITY OF IOWA.  Department of Economics.                      

     9504   Blume, Andreas.  Evolutionaty stability in sender-receiver  
            games with partial common interest.  11p.                   
     9420   Blume, Andreas, et al.  Evolution of the meaning of messages
            in sender-receiver games: an experiment.  52p.              
     9416   Bowlus, Audra J., Kiefer, Nicholas M. & Neumann, George R.  
            Estimation of equilibrium wage distributions with           
            heterogeneity.  30p.                                        
     9421   Chatterjee, Satyajit & Corbae, Dean.  Money and finance in a
            model of costly commitment.  43p.                           
     9406   Daughety, Andrew F. & Reinganum, Jennifer F.  Keeping       
            society in the dark: on the admissibility of pretrial       
            negotiations as evidence in court.  38p.                    
     9417   Daughety, Andrew F. & Reinganum, Jennifer F.  Product       
            safety: liability, R & D and signaling.  42p.               
     9418   DeJong, David N., Ingram, Beth F. & Whiteman, Charles H.    
            Beyond calibration.  21p.                                   
     9506   DeJong, David N., Ingram, Beth F. & Whiteman, Charles H.    
            Keynes vs. Prescott and Solow: identifying sources of       
            business cycle fluctuations.  19p.                          
     9413   Eden, Benjamin.  Inflation and price adjustment: an analysis
            of micro data.  32p.                                        
     9414   Eden, Benjamin & Horowitz, Joel L.  Inventories in a        
            competitive environment: an empirical study of a housing    
            market.  36p.                                               
     9419   Eden, Benjamin & Horowitz, Joel L.  Sequential trade, search
            externalities and inventories: do houses sell faster in     
            thick markets?.  27p.                                       
     9410   Horowitz, Joel L. & Manski, Charles F.  Joint censoring of  
            regressors and outcomes: survey nonresponse and attrition.  
            17p.                                                        


                                                           PAGE  51

     9507   Ingram, Beth F. & Savin, N.E.  Using macroeconomic data to  
            measure nonmarket activity.  24p.                           
     9423   Kim, Yong-Gwan.  Evolutionary analyses of tacit             
            communication in Van Huyck, Battalio, and Bell's game       
            experiments.  39p.                                          
     9425   Kim, Yong-Gwan.  Status signalling game in the animal       
            contest.  30p.                                              
     9426   Kim, Yong-Gwan & Oh, Jeong Hun.  Symmetry and subgame       
            consistency in Harsanyi and Selten's solution for games.    
            41p.                                                        
     9502   Kocherlakota, Narayana R.  Consumption, commitment, and     
            cycles.  33p.                                               
     9503   Kocherlakota, Narayana R. & Savin, N.E.  Confidence         
            intervals for the sample mean of overdifferenced data.  10p.
     9424   McCutcheon, Barbara.  Do meetings in smoke-filled rooms     
            facilitate collusion?.  26p.                                
     9415   Markatou, Marianthi & Horowitz, Joel L.  Robust scale       
            estimation in the error components models using the         
            empirical characteristic function.  28p.                    
     9411   Sadka, Joyce C. & Yi, Kei-Mu.  Consumer durables, the terms 
            of trade and the U.S. trade deficit.  16p.                  
     9508   Silvapulle, Param.  A score test for seasonal fractional    
            integration and cointegration.  21p.                        
     9501   Williamson, Stephen D.  Discount window lending and deposit 
            insurance.  35p.                                            
     9509   Williamson, Stephen & Wang, Cheng.  Unemployment insurance  
            with moral hazard in a dynamic economy.  51p.               
     9510   Horowitz, Joel L.  Bootstrap methods in econometrics: theory
            and numerical performance.  54p.                            
     9505   Kocherlakota, Narayana.  The equity premium: it's still a   
            puzzle.  66p.                                               
     9412   Kocherlakota, Narayana & Yi, Kei-Mu.  A simple time series  
            test of endogenous vs. exogenous growth models: an          
            application to the U.S.  23p.                               
     9512   Horowitz, Joel L. & Manski, Charles F.  Censoring of        
            outcomes & regressors due to survey nonresponse:            
            identification & estimation using weights & imputatio.  40p.
     9511   Neumann, George R.  Search models and duration data.  102p. 
     9513   Eden, Benjamin & Horowitz, Joel L.  Inventories, time on the
            market and prices in an economy with uncertain and          
            sequential trade: theory & an empirical.  28p.              
     9514   Wu, S.Y.  A general equilibrium model of the three-sector   
            competitive economy.  45p.                                  

     IOWA STATE UNIVERSITY.  Department of Economics.                   

     28r    Kalaba, Robert & Tesfatsion, Leigh.  A multi-criteria       
            approach to model specification and estimation.  30p.       
     36     Tesfatsion, Leigh.  A trade network game with endogenous    
            partner selection.  53p.                                    
     37     Tesfatsion, Leigh.  How economists can get alife.  40p.     

     BANCA DE ITALIA.  Research Department.                             

     236    Bianchi, C., Cesari, R. & Panattoni, L.  Alternative        
            estimators of the Cox, Ingersoll and Ross model of the term 
            structure.  76p.                                            

                                                           PAGE  52

     245    Cornelli, Francesca & Felli, Leonardo.  Efficiency of       
            bankruptcy procedures.  29p.                                
     237    Hart, Oliver.  Capital structure decisions of a public      
            company.  49p.                                              
     246    Zingales, Luigi.  Change of ownership: incentives and rules.
             40p.                                                       
     249    Buehrer, Timothy & Di Mauro, Filippo.  Computable general   
            equilibrium models as tools for policy analysis in          
            developing countries: some basic principles a.  88p.        
     251    Fornari, Fabio & Mele, Antonio.  Sign and                   
            volatility-switching ARCH models: theory and applications to
            international stock markets.  41p.                          
     252    Nicoletti-Altimari, Sergio & Thomson, Mary D.  The effect of
            liquidity contraints on consumption and labor supply:       
            evidence from Italian households.  52p.                     
     250    Smaghi, Lorenzo B. & Tristani, Oreste.  The 1992-93 EMS     
            crisis: assessing the macroeconomic costs.  30p.            

     JOHNS HOPKINS UNIVERSITY.  Department of Political Economy.        

     334    Chiu, W. Henry & Karni, Edi.  Unemployment insurance:       
            endogenous adverse selection, delayed start policies and the
            role of the public sector.  28p.                            
     335    Detragiache, Enrica.  Externalities in technology diffusion,
            growth and trade.  35p.                                     
     338    Foster, Dean & Young, H. Peyton.  On the nonconvergence of  
            fictitious play in coordination games.  8p.                 
     336    de Lima, Pedro J.  On the robustness of non-linearity to    
            moment condition failure.  32p.                             
     337    Kaniovski, Yuri M. & Young, H. Peyton.  Learning dynamics in
            games with stochastic perturbations.  27p.                  
     341    Ball, Laurence, Elmendorf, Douglas W. & Mankiw, N. Gregory. 
            The deficit gamble.  42p.                                   
     340    Karni, Edi.  Social welfare function and fairness.  13p.    
     339    Young, H. Peyton.  Dividing the indivisible.  22p.          
     347    Carrington, William J., McCue, Kristin & Pierce, Brooks.    
            Using establishment size to measure the impact of Title VII 
            and affirmative action.  41p.                               
     348    Karni, Edi.  Probabilities and beliefs.  18p.               
     346    Karni, Edi & Schmeidler, David.  Knowledge and justice.  9p.

     UNIVERSITY OF KANSAS.  Department of Economics.                    

     9410   Hess, Gregory D. & Wilson, B. Kemp.  Reinterpreting excess  
            sensivitity with precautionary savings.  37p.               
     95-1   Shin, Kwanho.  Inter- and intra-sectoral shocks: effects of 
            the unemployment rate.  33p.                                
     95-2   Hess, Gregory D. & Shin, Kwanho.  Intranational business    
            cycles in the United States.  40p.                          
     95-3   Hess, Gregory D. & Morris, Charles.  Money is what money    
            predicts: the M* model of the price level.  33p.            
     95-4   Shin, Kwanho.  Sectoral shocks and movement costs: effects  
            on employment and welfare.  35p.                            
     95-6   Hess, Gregory D. & Iwata, Shigeru.  Measuring business cycle
            features.  46p.                                             



                                                           PAGE  53

     95-5   Hess, Gregory D. & Shin, Kwanho.  Some intranational        
            evidence on output-inflation tradeoffs.  30p.               
     95-8   Zhang, Jianbo.  Privatization of capital and investment     
            efficiency.  23p.                                           
     95-7   Zhang, Jianbo & Zhang, Zhentang.  The asymptotic efficiency 
            in an oligopolistic market.  17p.                           

     LA TROBE UNIVERSITY.  Department of Economics.                     

     9401   Hewitson, Gillian.  Rational economic man: a feminist       
            evaluation.  33p.                                           
     9402   Howard, M.C. & King, J.E.  Marxian theory and the economics 
            of socialism: an overview of the legacy.  20p.              
     9408   Athukorala, Premanchandra & Menon, Jayant.  Exchange rates  
            and strategic pricing: the case of Swedish machinery        
            exports.  18p.                                              
     9407   Athukorala, Premanchandra & Wickramasekara, Piyasiri.       
            International labor migration statistics in Asia: an        
            appraisal.  27p.                                            
     9404   Frost, Lionel & Dingle, Tony.  Infrastructure, technology   
            and change: an historical perspective.  30p.                
     9409   McCormack, Darcy & Withers, Glenn.  Youth and unemployment  
            in Australia: a causality analysis and implications for     
            policy.  10p.                                               
     9403   Maddock, Rodney.  Institutions, constitutions and reform.   
            21p.                                                        
     9415   Frost, Warwick.  Government, farmers and the environment:   
            Australia's wet frontier, 1870-1920.  20p.                  
     9406   Haszler, Henry.  Australia's wool policy debacle: continuing
            government failure.  23p.                                   
     9414   Konya, Laszlo.  A clay-clay and a putty-clay vintage model. 
            28p.                                                        
     9413   Konya, Laszlo.  Equilibrium in a clay-clay or putty-clay    
            economy.  17p.                                              
     9412   Konya, Laszlo.  Introduction into the theory of vintage     
            models.  17p.                                               
     9405   Schneider, Michael.  The role of Hobson in the emergence of 
            the marginal productivity theory of distibution.  34p.      
     9423   Bardsley, Peter.  Complexity, honest mistakes, and tax      
            evasion.  5p.                                               
     9422   Bardsley, Peter.  Tax compliance games with imperfect       
            auditing.  17p.                                             
     9420   Bardsley, Peter.  Tax compliance research: an economic      
            perspective on the research agenda.  14p.                   
     9419   Divisekara, Sarath.  A model of economic determinants of    
            international visitor flow to Australia: a cointegration    
            analysis.  32p.                                             
     9411   Fabella, Raul & Jayasuriya, Sisira.  Impact of temporary    
            trade shocks on an economy in disequilibrium: Philippines,  
            1986-89.  36p.                                              
     9416   Frost, Warwick.  Agricultural diversification and the       
            decline of wheat: a comparative study of East Anglia,       
            California and Central V.  20p.                             
     9417   Herath, Gamini.  The algal bloom problem in Australian      
            waterways: a resource economics perspective.  30p.          



                                                           PAGE  54

     9410   Jayasuriya, Sisira.  Temporary shocks, consumption smoothing
            and economic adjustment: Sri Lanka, 1973-76.  38p.          
     9418   Michael, Ewen.  Community service obligations policy in     
            public sector management.  22p.                             
     9421   Olekalns, Nils & Barsdley, Peter.  Rational addiction to    
            caffeine: an analysis of coffee consumption.  7p.           
     9501   Clarke, Harry.  Forward planning and stability of the       
            Australian migration program.  39p.                         
     9504   Clarke, Harry.  International labour-cum-capital migrations:
            theory, welfare implications and evidence.  27p.            
     9502   Clarke, Harry.  Stubbornly persistent factor migrations with
            rapid international economic convergence.  17p.             
     9503   Clarke, Harry & Ng, Yew-Kwang.  Non-traded goods and the    
            welfare gains from tourism: comment.  6p.                   
     9516   Choe, Chongwoo.  Incentive to work vs. disincentives to     
            invest: the case of China's rural reform, 1979-1984.  21p.  
     9515   Choe, Chongwoo.  Information acquisition and optimal        
            partnership arrangements.  29p.                             
     9507   Clarke, Harry.  Australian and Canadian labour-cum-capital  
            migrations: push factors, causality and the role of U.S.    
            labor intakes.  37p.                                        
     9505   Clarke, Harry.  International populations: some welfare     
            implications of birth, death and migration.  32p.           
     9509   Clarke, Harry.  Optimal air service agreements: a           
            theoretical model.  26p.                                    
     9512   Clarke, Harry.  Soil conservation with differential soil    
            quality: demand growth and the evolution of intensive and   
            extensive margin.  14p.                                     
     9508   Clarke, Harry.  U.K. labour emigrations and capital exports,
            1816-1991.  25p.                                            
     9511   Clarke, Harry & Martin, Vance L.  Does capital chase labour 
            internationally?.  31p.                                     
     9510   Clarke, Harry & Smith, Lee.  Labour immigration and capital 
            flows: long-term Australian, Canadian and United States     
            experience.  48p.                                           
     9506   Clarke, Harry & Ng, Yew-Kwang.  When do increased property  
            values compensate pre-existing people for cost increases    
            induced by new-comers?.  12p.                               
     9514   Maddock, Rodney.  Telecommunications and economic           
            development.  23p.                                          
     9517   Choe, Chongwoo.  Complex security as an optimal contract    
            under private information.  30p.                            
     9521   Choe, Chongwoo.  Core of a production economy revisited.    
            23p.                                                        
     9513   Clarke, Harry R.  Forest rotation and streamflow benefits.  
            27p.                                                        
     9519   King, J.E.  The first post Keynesian: Joan Robinson's       
            "Essays in the Theory of Employment" (1937).  28p.          
     9520   King, J.E.  Hyman Minsky: the making of a post Keynesian.   
            19p.                                                        

     UNIVERSITE DE LAUSANNE.  Dept. d'Econometrie d' Econ. Politique.   

     9501   Bacchetta, Philippe & Ballabriga, Fernando.  The impact of  
            monetary policy and bank lending: some international        
            evidence.  40p.                                             


                                                           PAGE  55

     9503   Neven, Damien & Seabright, Paul.  Trade liberalization and  
            the coordination of competition policy.  30p.               
     9504   Danthine, Jean-Pierre & Donaldson, John B.  Asset pricing   
            implications of real market frictions.  52p.                
     9506   Hechler, Nannette.  Estimating the benefits of a common     
            European fiscal policy.  30p.                               
     9507   Irmen, Andreas.  Note on duopolistic vertical restraints.   
            14p.                                                        
     9509   Neven, Damien & Seabright, Paul.  European industrial       
            policy: the Airbus case.  60p.                              
     9508   Neven, Damien & Siotis, George.  Technology sourcing and    
            foreign direct investment in the EC: an empirical           
            evaluation.  21p.                                           

     LONDON SCHOOL OF ECONOMICS.  Financial Markets Group.              

     199    Chemla, Gilles.  Implicit contracts, optimal union power and
            takeovers.  45p.                                            
     198    Perotti, Enrico C.  Collusive arrears in transition         
            economies.  47p.                                            
     197    Snell, Andy & Tonks, Ian.  Determinants of price quote      
            revisions on the London Stock Exchange.  36p.               
     196    Suarez, Javier.  Closure rules, market power and risk-taking
            in a dynamic model of bank behavior.  47p.                  
     200    Webb, David C.  Liquidity shortages and inefficient bank    
            lending.  28p.                                              
     202    Chen, Zhaohui.  Speculative market structure and the        
            collapse of an exchange rate mechanism.  37p.               
     201    Vogler, Karl-Hubert.  Risk allocation and inter-dealer      
            trading.  21p.                                              
     205    Kiyotaki, Nobuhiro & Moore, John.  Credit cycles.  56p.     
     203    Repullo, Rafael & Suarez, Javier.  Credit markets and real  
            economic activity: a model of financial intermediation.     
            46p.                                                        
     204    Schoenmaker, Dirk.  A comparison of alternative interback   
            settlement systems.  34p.                                   
     207    de Jong, Frank, Nijman, Theo & Roell, Ailsa.  Price effects 
            of trading and components of the bid-ask spread on the Paris
            Bourse.  42p.                                               
     208    Gietzmann, Miles B., Ncube, Mthuli & Selby, Michael J.P.    
            Auditor performance, implicit guarantees, and the valuation 
            of legal liability.  25p.                                   
     206    Povel, Paul.  Multiple banking as a commitment not to       
            rescue.  27p.                                               
     209    Roy, Amlan.  Multicountry comparisons of the consumption    
            based capital asset pricing model: Germany, Japan and USA.  
            37p.                                                        
     210    Evans, Martin D.D.  Peso problems: their theoretical and    
            empirical implications.  73p.                               
     211    Rossi, Marco.  Pricing intra-day credit in real time gross  
            settlement systems.  20p.                                   
     215    Beckers, Stan, Connor, Gregory & Curds, Ross.  National     
            versus global factors in equity returns.  21p.              
     216    Fratianni, Michele & Huang, Haizhou.  Central bank          
            reputation and conservativeness.  33p.                      



                                                           PAGE  56

     214    Gale, Douglas.  Delay and cycles.  64p.                     
     213    Roy, Amlan.  Bayesian inference and asset pricing.  59p.    
     212    Sentana, Enrique.  Risk and return in the Spanish stock     
            market.  36p.                                               
     219    Cumby, Robert E. & Evans, Martin D.D.  The term structure of
            credit risk: estimates and specifications.  45p.            
     218    Fremault Vila, Anne & Sandmann, Gleb.  Floor trading versus 
            electronic screen trading: an empirical analysis of market  
            liquidity & info transmission...  49p.                      
     217    Suarez, Javier & Sussman, Oren.  Endogenous cycles in a     
            Stiglitz-Weiss economy.  29p.                               

     LONDON SCHOOL OF ECONOMICS.  Int'l. Centre for Econ & Related Disc.

     279    Hole, Alison & Keller, Godfrey.  Exploring a branching      
            structure: a bandit problem with correlated payoffs.  31p.  
     280    Moen, Espen R.  A matching model with wage announcement.    
            30p.                                                        
     285    Kiyotaki, Nobuhiro & Moore, John.  Credit cycles.  56p.     
     283    Roberts, Kevin.  Objective interpersonal comparisons of     
            utility.  31p.                                              
     286    Ferreira, Francisco H.G.  Roads to equality: wealth         
            distribution dynamics with public-private capital           
            complementarity.  40p.                                      
     289    Halonen, Maija.  Reputation and allocation of ownership.    
            43p.                                                        

     UNIVERSITY OF LONDON-BIRKBECK COLLEGE.  Department of Economics.   

     11/94  Ball, Michael & Wood, Andrew.  Housing investment: long-run 
            international trends and volatility.  31p.                  
     13/94  Wall, Howard J.  Is military expenditure really a luxury    
            good?: an international panel study of LDCs.  10p.          
     12/94  Zoega, Gylfi.  Sunk costs as a source of unemployment       
            hysteresis.  24p.                                           
     15/94  Snower, Dennis J.  Evaluating unemployment policies: what do
            the underlying theories tell us?.  50p.                     
     14/94  Snower, Dennis J.  The low-skill, bad-job trap.  20p.       
     16/94  Snower, Dennis J.  The simple economics of benefit          
            transfers.  40p.                                            
     17/94  Dutta, Jayasri & Kapur, Sandeep.  Liquidity preference and  
            financial intermediation.  34p.                             
     18/94  Tronzano, Marco.  Assessing the credibility of a target     
            zone: an alternative approach applied to France (1988-93).  
            43p.                                                        
     19/94  Booth, Alison & Zoega, Gylfi.  Quitting externalities,      
            employment cyclicality and firing costs.  34p.              
     21/94  Hall, Stephen, Psaradakis, Zacharias & Sola, Martin.        
            Changes in regime, cointegration, seasonality, and the      
            Japanese consumption function.  24p.                        
     1/95   Orszag, J. Michael.  On a field theoretic approach to       
            statistical macroeconomics.  29p.                           
     20/94  Zoega, Gylfi.  Public consumption and unemployment.  16p.   
     4/95   Bandyopadhyay, Subhayu & Wall, Howard J.  Customs unions or 
            free trade area?: the role of political asymmetries.  14p.  



                                                           PAGE  57

     2/95   Bertoletti, Paolo & Poletti, Clara.  Yardstick contracts and
            internal firm inefficiency.  22p.                           
     3/95   Douglas, Stratford & Wall, Howard J.  The revealed costs of 
            unemployment.  18p.                                         
     6/95   Coakley, Jerry, Kulasi, Farida & Smith, Ron.  The           
            Fedlstein-Horioka puzzle and capital mobility.  53p.        
     5/95   Orszag, J. Michael.  Cumulative wavelength test for         
            randomness.  29p.                                           
     7/95   Orszag, J. Michael & Zoega, Gylfi.  Hiring-risk and labor   
            market equilibrium.  16p.                                   
     9/95   Blake, David & Nied, Angelika.  The demand for alcohol in   
            the United Kingdom.  52p.                                   
     10/95  Boyd, Derick & SMith, Ron.  Testing for stationarity of the 
            real exchange rate in developing countries.  12p.           
     8/95   Coakley, Jerry, Kulasi, Farida & Smith, Ron.  Current       
            account solvency and the Feldstein-Horioka puzzle.  25p.    

     UNIV. OF LONDON-BIRKBECK COLLEGE.  Papers in Financial Economics.  

     4/94   Dacco, Roberto.  A bivariate threshold autoregressive model 
            for the Italian stock market.  31p.                         
     1/95   Blake, David.  Pension schemes as options of pension fund   
            assets: implications for pension fund managament.  57p.     
     2/95   Psaradakis, Zacharias & Sola, Martin.  Modelling long memory
            in stock market volatility: a fractionally integrated       
            generalized ARCH approach.  22p.                            
     3/95   Blake, David.  Efficiency, risk aversion & portfolio        
            insurance: an analysis of financial asset portfolios held by
            investors in the.  36p.                                     
     4/95   Blake, David & Freris, Andrew F.  The short-run performance 
            of initial public offers: new results using a dynamic beta  
            model.  32p.                                                
     5/95   Knight, John L., Satchell, Stephen E. & Tran, Kien C.       
            Statistical modelling of asymmetric risk in asset returns.  
            25p.                                                        
     6/95   Acar, Emmanuel & Satchell, Stephen E.  A theoretical        
            analysis of trading rules: an application to the moving     
            average case with Markovian returns.  17p.                  
     7/95   Dacco, Roberto & Satchell, Stephen E.  Why do regime        
            switching models forecast so badly?.  26p.                  

     UNIVERSITY COLLEGE LONDON.  Department of Economics.               

     9416   Chick, Victoria & Dow, Sheila C.  Competition and the future
            of the European banking and financial system.  32p.         
     9417   Menezes-Filho, Naercio A.  Unions and profitability over the
            80s: some evidence on union-firm bargaining in the U.K.     
            29p.                                                        
     9415   Van Reenan, John.  The creation and capture of rents: wages 
            and innovation in a panel of U.K. companies.  40p.          
     9503   Blundell, Richard, Griffith, Rachel & Windmeijer, Frank.    
            Individual effects and dynamics in count data models.  30p. 
     9502   Pezzey, John.  Concern for sustainable development in a     
            sexual world.  43p.                                         




                                                           PAGE  58

     9505   Binmore, Ken & Samuelson, Larry.  Muddling through: noisy   
            equilibrium selection.  37p.                                
     9506   Dustmann, Christian & van Soest, Arthur.  Generalized       
            switching regression analysis of private and public sector  
            wage structures in Germany.  30p.                           
     9504   Rota, Paola.  Labour demand with fixed adjustment costs.    
            38p.                                                        
     9508   Coady, David.  Structural adjustment and the environmental  
            and natural resource base: a synthesis.  50p.               
     9507   Scaramozzino, Pasquale & Vulkan, Nir.  Uncertainty and      
            endogenous selection of macroeconomic equilibria.  22p.     
     9509   Pezzey, John & Withagen, Cees.  Single-peakedness and       
            initial sustainability in capital-resource economies.  28p. 
     9501   Pezzey, John.  Sustainable development, intergenerational   
            equity and environmental policy.  65p.                      
     9510   Binmore, Ken.  Backward induction and rationality.  20p.    
     9519   Blundell, Richard, Griffith, Rachel & van Reenen, John.     
            Market share, market value and innovation in a panel of     
            British manufacturing firms.  45p.                          
     9514   Carlin, Wendy, Van Reenen, John & Wolfe, Toby.  Enterprise  
            restructuring in early transition: the case study evidence  
            from Central and Eastern Europe.  36p.                      
     9517   Chennells, Lucy & Van Reenen, John.  Wages and technology in
            British plants: do workers get a fair share of the plunder?.
             45p.                                                       
     9513   Chick, Victoria.  Finance and investment in the context of  
            development: a post Keynesian perspective.  16p.            
     9512   Chick, Victoria.  The multiplier and finance.  28p.         
     9515   Del Boca, Alessandra & Rota, Paula.  How much does hiring   
            and firing cost?: survey evidence from Italy.  35p.         
     9518   Geroski, Paul, Van Reenen, John & Walters, Chris.           
            Innovations, patents, and cash flow.  40p.                  
     9511   Menezes-Filho, Naercio, Ulph, David & Van Reenen, John.  R &
            D and union bargaining: evidence from British companies and 
            establishments.  60p.                                       
     9516   Thomas, Jonathan M.  The role of selective job search in    
            U.K. umemployment.  27p.                                    

     UNIVERSITE CATH. DE LOUVAIN.  Ctr. for Op. Research & Econometrics.

     9455   Bergin, James & Lipman, Bart.  Evolution with               
            state-dependent mutations.  19p.                            
     9456   Block, Francis & Ghosal, Sayantan.  Stable trading          
            structures in bilateral oligopolies.  24p.                  
     9448   Chander, Parkash & Tulkens, Henry.  A core-theoretic        
            solution for the design of cooperative agreements on        
            transfrontier pollution.  19p.                              
     9442   Cordella, Tito & Gabszewicz, Jean J.  "Nice" trivial        
            equilibria in strategic market games: a comment on          
            Dubey-Shubik (1978).  4p.                                   
     9452   Docquier, Frederic & Michel, Philippe.  Education subsidies 
            and endogenous growth: implications of demographic shocks.  
            26p.                                                        
     9444   Forges, Francois & Minelli, Enrico.  Self-fulfilling        
            mechanisms and rational expectations.  27p.                 



                                                           PAGE  59

     9458   Forges, Francois & Minelli, Enrico.  Self-fulfulling        
            mechanisms in repeated games with incomplete information.   
            19p.                                                        
     9457   Gabszewicz, Jean J & Van Ypersele, Tanguy.  Social          
            protection and political competition.  22p.                 
     9453   Ferreira, Carlos E., et al.  The node capacitated graph     
            partitioning problem: a computational study.  34p.          
     9445   Grant, Simon & Kajii, Atsushi.  AUSI expected utility: an   
            anticipated utility theory of relative disappointment       
            aversion.  20p.                                             
     9449   Michel, Philippe & Pestieau, Pierre.  Fiscal policy in a    
            growth model with both altruistic and non altruistic agents.
             21p.                                                       
     9441   Ritter, Christian & Simar, Leopold.  Pitfalls of normal     
            gamma stochastic frontier models.  19p.                     
     9443   Rustichini, Aldo & Dreze, Jacques H.  State dependent       
            utility.  52p.                                              
     9450   Sneesens, Henri R. & Shadman-Mehta, Fatemeh.  Real wages,   
            skill mismatch and unemployment persistence.  40p.          
     9447   Tulkens, Henry & Malnero, Amador.  Nonparametric approaches 
            to the assessment of the relative efficiency of bank        
            branches.  24p.                                             
     9451   Vanden Eeckaut, Philippe & Wunsch, Pierre.  Noise vs.       
            inefficiency: evidence from mass transit.  22p.             
     9446   Ventura, Luigi.  A few remarks on imperfect competition with
            incompleteness of markets.  16p.                            
     9454   Wunsch, Pierre.  Cost and efficiency of major urban transit 
            systems in Europe.  29p.                                    
     9471   Allen, Beth, Dutta, Jayasri & Polemarchakis, Heracles.      
            Equilibrium selections.  25p.                               
     9509   Amir, Rabah.  Continuous stochastic games of capital        
            accumulation with convex transitions.  24p.                 
     9464   Berechman, Joseph, Poddar, Sougata & Shy, Oz.  Network      
            structure and entry in the deregulated airline industry.    
            26p.                                                        
     9508   Berliant, Marcus & Zenou, Yves.  Labor specialization and   
            city formation.  27p.                                       
     9460   Boldrin, Michele & Rustichini, Aldo.  Equilibria with social
            security.  35p.                                             
     9481   Broze, Laurence, Melard, Guy & Scaillet, Olivier.  Forecast 
            intervals in ARCH exponential smoothing.  25p.              
     9505   Broze, Laurence, Scaillet, Olivier & Zakoian, Jean-Michel.  
            Quasi indirect inference for diffusion processes.  55p.     
     9459   Codognato, Giulio & Ghosal, Sayantan.  Cournot equilibrium  
            in markets with a continuum of traders.  9p.                
     9504   Cordella, Tito & Grilo, Isabel.  "Social dumping" and       
            delocalization: is there a case for imposing a social       
            clause?.  21p.                                              
     9469   Cremer, Helmuth, Marchand, Maurice & Pestieau, Pierre.      
            Interregional redistribution through tax surcharge.  16p.   
     9473   d'Aspremont, Claude & Gerard-Varet, Louis-Andre.  Moral     
            hazard in teams with uncertainty, and transfers or          
            repetition as enforcement mechanisms.  29p.                 
     9477   d'Aspremont, Claude, Dos Santos Ferreira, Rodolphe &       
            Gerard-Varet, Louis-Andre.  Imperfect competition in an     
            overlapping generations model: a case for fiscal policy.    
            31p.                                                        

                                                           PAGE  60

     9468   d'Aspremont, Claude, Dos Santos Ferreira, Rodolphe &       
            Gerard-Varet, Louis-Andre.  Market power, coordination      
            failures and endogenous fluctuations.  58p.                 
     9467   d'Aspremont, Claude, Dos Santos Ferreira, Rodolphe &       
            Gerard-Varet, Louis-Andre.  On the Dixit-Stiglitz model of  
            monopolistic competition as enforcement mechanisms.  12p.   
     9515   De Meyer, Bernard.  A bound for continuous martingales in a 
            cone.  19p.                                                 
     9475   Dreze, Jacques H.  Forty years of public economics: a       
            personal perspective.  25p.                                 
     9480   Dreze, Jacques H. & Polemarchakis, Heracles M.  Money and   
            monetary policy in general equilibrium.  31p.               
     9510   Dreze, Jacques H. & Rustichini, Aldo.  Moral hazard and     
            conditional preferences.  33p.                              
     9516   Florens, Jean-Pierre, Fougers, Denis & Mouchart, Michel.    
            Duration models.  47p.                                      
     9514   Gabszewicz, Jean J. & Garella, Paolo G.  "Buy it or make it 
            yourself?": a paradox.  6p.                                 
     9463   Ghosal, Sayantan.  Eductive stability in a two period       
            economy.  20p.                                              
     9472   Ghosal, Sayantan & Polemarchakis, Heracles.  Exchange and   
            optimality.  16p.                                           
     9465   Gonzalo, Jesus & Pitarakis, Jean-Yves.  Comovements in large
            systems.  44p.                                              
     9511   Heifetz, Aviad.  Common belief in monotonic epistemic logic.
             19p.                                                       
     9501   Heifetz, Aviad.  A note on consensus without common         
            knowledge.  6p.                                             
     9507   Jafarey, Saqib, Kaskarelis, Yannis & Maiouli, Natasha.  Wage
            determination and capital decisions in a dynamic monopoly   
            union model (with an application to Greek manufactur.  19p. 
     9513   Kerstens, Kris & Vanden Eeckhaut, Philippe.  Technical      
            efficiency measures on DEA and FDH: a reconsideration of the
            axiomatic literature.  35p.                                 
     9503   Koop, Gary, Osiewalski, Jacek & Steel, Mark F.J.  The       
            components of output growth: a cross-country analysis.  47p.
     9461   Koop, Gary, Steel, Mark F.J. & Osiewalski, Jacek.  Posterior
            analysis of stochastic frontier models using Gibbs sampling.
             20p.                                                       
     9470   Leite Monteiro, Manuel.  Redistributive policy with labour  
            mobility across countries.  23p.                            
     9506   Mertens, Jean-Francois.  The speed of convergence in        
            repeated games with incomplete information on one side.     
            15p.                                                        
     9478   Mintz, Jack & Tulkens, Henry.  Optimality properties of     
            alternative systems of taxation of foreign capital income.  
            32p.                                                        
     9462   Nesterov, Yurii E. & Todd, Michael J.  Self-scaled cones and 
            interior point methods in nonlinear programming.  42p.      
     9474   Polemarchakis, Heracles & Seccia, Giulio.  A role for       
            monetary policy when prices reveal information: an example. 
            9p.                                                         
     9512   Simos, Theodore.  Gaussian estimation of a continuus time   
            dynamic model with common stochastic trends.  16p.          




                                                           PAGE  61

     9479   Sutter, Alain, Vanderbeck, Francois & Wolsey, Laurence.     
            Optimal placement of add/drop multiplexers: heuristic and   
            exact algorithms.  20p.                                     
     9502   Van Zandt, Timothy.  Continuous approximations in the study 
            of hierarchies.  28p.                                       
     9466   Ventura, Luigi.  On a shareholder constrained efficient     
            criterion for strategic firms.  14p.                        
     9476   Zenou, Yves & Smith, Tony E.  Efficiency wages, involuntary 
            unemployment, and urban spatial structure.  31p.            
     9524   Chatterji, Shurojit & Chattopadhyay, Subir.  Decentralized  
            adaptive learning: global stability inspite of "local       
            instability" in a general equilibrium example.  9p.         
     9527   Chichilnisky, Graciela.  A unified perspective on resource  
            allocation: limited arbitrage is necessary & sufficient for 
            the existence of comp.  41p.                                
     9530   Fernandez, Carmen, Osiewalski, Jacek & Steel, Mark F.J.     
            Inference robustness in multivariate models with a scale    
            parameter.  42p.                                            
     9517   Gabszewicz, Jean J. & Van Ypersele, Tanguy.  The voting     
            mechanism and market allocation: a note.  5p.               
     9531   Gervaz, Carolina.  Common trends and common cycles in       
            Belgian sectoral GDP.  23p.                                 
     9528   Heifetz, Aviad.  How canonical is the canonical model?: a   
            comment on Aumann's interactive epistemology.  12p.         
     9525   Koutsougeras, Leonidas C.  A two stage core with            
            applications to asset markets and differential information  
            economies.  22p.                                            
     9519   Lambson, Val E.  Optimal penal codes in stochastic Bertrand 
            games and collusion over the business cycles.  20p.         
     9526   Maret, Isabelle.  Joint distribution of demand functions and
            price expectation functions, and structural properties of   
            market demand.  37p.                                        
     9522   Marini, Marco & Zevi, Alberto.  The reform of the Western   
            European cooperative legislation: a first assessment from a 
            bargaining point of view.  35p.                             
     9520   Mertens, Jean-Francois & Zamir, Shmuel.  Incomplete         
            information games and the normal distribution.  42p.        
     9523   Poddar, Sougata.  Product differentiation, entry and        
            undercut-proof equilibrium.  16p.                           
     9518   Ray, Indrajit.  Efficiency in correlated equilibrium.  43p. 
     9532   Sneesens, Henri R.  Lessons for employment and growth in    
            Western Europe.  26p.                                       
     9521   Shitovitz, Benyamin.  A comparison between the core and the 
            monopoly solutions in a mixed exchange economy.  9p.        
     9538   Bauwens, Luc & Vandeuren, Jean-Pierre.  On the weak         
            consistency of the quasi-maximum likelihood estimator in VAR
            models with BEKK-GARCH(1,q) errors.  22p.                   
     9540   Bienstock, Daniel, et al.  Minimum cost capacity            
            installation for multicommodity network flows.  35p.        
     9541   de Kerchove, Anne M., Gabszewicz, Jean J. & Gerard-Varet,   
            Louis-Andre.  Unemployment benefits versus employment       
            subsidies: a welfare appraisal.  13p.                       
     9539   De Meyer, Bernard.  From repeated games to Brownian games.  
            53p.                                                        




                                                           PAGE  62

     9534   Gonzalo, Jesus & Pitarakis, Jean-Yves.  On the exact moments
            of non-standard asymptotic distributions in non stationary  
            autoregressions w/ dependent errors.  21p.                  
     9533   Kneip, Alois.  Behavioral heterogeneity and structural      
            properties of aggregate demand.  41p.                       
     9535   Koop, Gary, et al.  Bayesian analysis of long memory and    
            persistence using ARFIMA models.  24p.                      
     9536   Koop, Gary, Osiewalski, Jacek & Steel, Mark F.J.  Bayesian  
            efficiency analysis through individual effects: hospital    
            cost frontiers.  34p.                                       
     9542   Koop, Gary, Osiewalski, Jacek & Steel, Mark F.J.  Measuring 
            the sources of output growth in a panel of countries.  35p. 
     9545   Koutsougeras, Leonidas & Yannelis, Nicholas C.  Learning in 
            differential information economies with cooperative solution
            concepts: core and value.  34p.                             
     9537   Mouchart, Michael & Rolin, Jean-Marie.  Competing risks     
            models: problems of modelling and of identification.  25p.  
     9544   Nesterov, Yurii E. & Todd, Michael J.  Primal-dual interior 
            point methods for self scaled cones.  39p.                  
     9543   Simar, Leopold & Wilson, Paul W.  Sensitivity analysis of   
            efficiency scores: how to bootstrap in nonparametric        
            frontier models.  24p.                                      

     MACQUARIE UNIVERSITY.  Department of Economics.                    

     7/95   Horne, Jocelyn.  The economics of transition and the        
            transition of economics.  32p.                              
     1/95   Joyeux, Roselyne & Lombard, Marc.  Growth and external      
            constraint: a simulation study for France using error       
            correction models.  34p.                                    
     4/95   Oslington, Paul.  Development economics: a classical        
            proposal.  18p.                                             
     6/95   Oslington, Paul.  Limited factor substitutability and       
            unemployment in a general equilibrium trade model.  11p.    
     5/95   Oslington, Paul.  Technological change and development      
            theory.  13p.                                               
     3/95   Sinha, Dipendra.  An aggregate import demand function for   
            India.  15p.                                                
     2/95   Sinha, Dipendra.  Evolution of economic regulation and      
            deregulation of airlines in the USA.  35p.                  
     9/95   Heaton, Chris.  The financial returns to investment in      
            overseas and local post-school education.  23p.             
     11/95  O'Donnell, Rod.  Keynes and formalism.  29p.                
     10/95  Sinha, Tapen & Sinha, Dipendra.  Is there a long-run        
            relationship between the Indian stock market and the stock  
            markets of the developed world?.  8p.                       
     12/95  Walters, David & Halliday, Michael.  The role of marketing  
            in creating shareholder value: implications for strategy    
            decisions.  20p.                                            

     UNIVERSITY OF MARYLAND.  Center for International Economics.       

     9      Bartolini, Leonardo & Drazen, Allan.  Capital account       
            liberalization as a signal.  34p.                           




                                                           PAGE  63

     10     Dhar, Sumana & Panagariya, Arvind.  Is East Asia less open  
            than North America and the EEC?.  37p.                      
     11     Lopez, Ramon & Panagariya, Arvind.  The Lerner symmetry     
            theorem and other results in the presence of quantitative   
            restrictions.  19p.                                         
     13     Mendoza, Enrique R. & Tesar, Linda L.  Supply-side economics
            in a global economy.  58p.                                  
     12     Panagariya, Arvind.  The free trade area of the Americas:   
            good for Latin America?.  42p.                              
     14     Calvo, Guillermo A. & Mendoza, Enrique G.  Explaining the   
            dollar: does monetary policy in developing countries        
            matter?.  27p.                                              
     15     Calvo, Guillermo.  Varieties of capital-market crises.  32p.
     16     Reinhart, Carmen M. & Reinhart, Vincent R.  On the use of   
            reserve requirements in dealing with capital flow problems. 
            46p.                                                        

     UNIVERSITY OF MARYLAND.  Department of Economics.                  

     9409   Kiley, Michael.  Predicting tax rate changes: insights from 
            the permanent income hypothesis.  22p.                      
     9410   Oates, Wallace E.  Green taxes: can we protect the          
            environment and improve the tax system at the same time?.   
            19p.                                                        
     9503   Kelejian, Harry H. & Prucha, Ingmar R.  A generalized       
            moments estimator for the autoregressive parameter in a     
            spatial model.  34p.                                        
     9501   Lyon, Andrew B.  Individual marginal tax rates under the    
            U.S. tax and transfer system: effects of the 1986 and 1993  
            tax acts.  40p.                                             
     9502   Oates, Wallace E. & Schwab, Robert M.  The impact of urban  
            land taxation: the Pittsburgh experience.  47p.             
     9504   Oates, Wallace E.  Estimating the demand for public goods:  
            the collective choice and contingent valuation approaches.  
            40p.                                                        
     95-5   Sullivan, Timothy S.  Ex ante divorce probability and       
            investment in marital-specific assets: an application to    
            home ownership.  38p.                                       
     9507   Gamkar, Shama & Oates, Wallace.  Asymmetries in the response
            to increases and decreases in intergovernmental grants: a   
            comment and some further evid.  17p.                        
     9506   Kelejian, Harry H.  The Moran I test for spatial correlation
            of regression disturbances: an extension accounting for     
            endogenous regress.  17p.                                   
     9510   Betancourt, Roger R.  Markets, the state and corruption in a
            PCPE reform process: why China and Vietnam grow while Cuba  
            stagnates.  16p.                                            
     9508   Betancourt, Roger R. & Malanoski, Margaret.  Prices,        
            distribution services and supermarket competition.  53p.    
     9509   Caballero, Ricardo J., Engel, Eduardo M.R.A. & Haltiwanger, 
            John C.  Plant level adjustment and aggregate investment    
            dynamics.  51p.                                             
     9511   Barnett, Steven A. & Sakellaris, Plutarchos.  Non-linear    
            response of firm investment to q: testing a model of convex 
            and non convex adjustment costs.  37p.                      



                                                           PAGE  64

     9513   Binder, Michael & Pesaran, M. Hashem.  Decision making in   
            the presence of heterogeneous information and social        
            interactions.  46p.                                         
     9512   Dellas, Harris & Sakellaris, Plutarchos.  On the cyclicality
            of the demand for education: theory and evidence.  49p.     

     MASSACHUSETTS INSTITUTE OF TECHNOLOGY.  Department of Economics.   

     95-8   Agion, Philippe & Tirole, Jean.  Formal and real authority  
            in organizations.  30p.                                     
     95-5   Angrist, Joshua D.  The economic returns to schooling in the
            West Bank and Gaza Strip.  35p.                             
     95-7   Bernard, Andrew B. & Jensen, J. Bradford.  Exporters, job   
            and wages in U.S. manufacturing: 1976-1987.  46p.           
     95-4   Bernard, Andrew B. & Jones, Charles I.  Productivity and    
            convergence across U.S. states and industries.  32p.        
     95-6   Diamond, Peter.  Managerial incentives: on the near         
            optimality of linearity.  19p.                              
     95-2   Hausman, Jerry A. & Leonard, Gregory K.  Superstars in the  
            NBA: economic value and policy.  44p.                       
     95-1   Holmstrom, Bengt & Tirole, Jean.  Financial intermediation, 
            loanable funds and the real sector.  34p.                   
     9511   Laffont, Jean-Jacques & Tirole, Jean.  Access pricing and   
            competition.  42p.                                          
     9510   Laffont, Jean-Jacques & Tirole, Jean.  A note on            
            environmental innovation.  8p.                              
     95-9   Laffont, Jean-Jacques & Tirole, Jean.  Pollution permits and
            compliance strategies.  35p.                                
     95-3   Smith, Lones.  Optimal job search in a changing world.  10p.
     9512   Acemoglu, Daron & Zilibotti, Fabrizio.  Was Prometheus      
            unbound by chance?: risk, diversification and growth.  43p. 
     9516   Angrist, Joshua D.  Short-run demand for Palestian labor.   
            29p.                                                        
     9515   Krueger, Alan B. & Pischke, Jorn-Steffan.  A statistical    
            analysis of crime against foreigners in unified Germany.    
            41p.                                                        
     9513   Newey, Whitney K.  Convergence rates and asymptotic         
            normality for series estimators.  30p.                      
     9514   Smith, Lones.  Cross-sectional dynamics in a two-sided      
            matching model.  37p.                                       
     9524   Acemoglu, Daron & Scott, Andrew.  Asymmetric business       
            cycles: theory and time series evidence.  35p.              
     9525   Acemoglu, Daron.  Matching, heterogeneity and the evolution 
            of income distribution.  51p.                               
     9518   Bai, Jushan.  Estimating multiple breaks one at a time.     
            44p.                                                        
     9517   Bai, Jushan & Perron, Pierre.  Estimating and testing linear
            models with multiple structural changes.  60p.              
     9521   Caballero, Ricardo J. & Hammour, Mohamad L.  On the ills of 
            adjustment.  34p.                                           
     9523   Eckaus, Richard S.  Economic reform and the opening of the  
            Chinese economy to international trade and finance.  67p.   
     9522   Eckaus, Richard S.  The metamorphosis of giants: China and  
            India in transition.  36p.                                  




                                                           PAGE  65

     9520   Genesove, David & Mullin, Wallace P.  Validating the        
            conjectural variation method: the sugar industry, 1890-1914.
             48p.                                                       
     9519   Jappelli, Tullio, Pischke, Jorn-Steffen & Souleles, Nicholas
            S.  Testing for liquidity constraints in Euler equations    
            with complementary data sources.  74p.                      
     9526   Temin, Peter.  Two views of the British Industrial          
            Revolution.  49p.                                           

     UNIVERSITY OF MELBOURNE.  Department of Economics.                 

     443    Atkinson, M.E., Creedy, J. & Knox, D.M.  Planning retirement
            income in Australia: routes through the maze.  30p.         
     444    Creedy, J. & Martin, V.L.  Non-linear modelling using the   
            generalised exponential family.  26p.                       
     441    Hyde, C.E. & Perloff, J.M.  Can market power be estimated?. 
            39p.                                                        
     438    Ironmonger, D.S., Aitken, C.K. & Erbas, B.  Economies of    
            scale of energy use in adult only households.  14p.         
     442    Olekalns, Nilss.  The effect of nominal demand shocks on    
            manufacturing output: evidence from disaggregated Australian
            data.  27p.                                                 
     439    Olekalns, Nilss & Bardsley, Peter.  Rational addiction to   
            caffeine: an analysis of coffee consumption.  7p.           
     445    Borland, Jeff.  Union effects on the structure and          
            dispersion of earnings in Australia, 1986 - 1992.  26p.     
     447    Clarke, Harry R. & Martin, Vance L.  Does capital chase     
            labour internationally?.  31p.                              
     449    Cornwell, Antonia.  Reducing carbon dioxide emissions in    
            Australia: a minimum disruption approach.  31p.             
     450    Creedy, John.  Measuring income inequality and tax          
            progressivity: an introduction.  30p.                       
     446    Dowling, Bartholomew.  Is the long wave getting shorter?.   
            30p.                                                        
     448    Emberton, Paul C.L.  Models of the electoral business cycle:
            a critical survey.  20p.                                    
     452    Creedy, John.  Lifetime inequality and tax progressivity    
            with alternative income concepts.  19p.                     
     440    Hyde, C.E., Rausser, G.C. & Simon, L.K.  Regulating multiple
            polluters: deterrence and liability allocation.  39p.       
     451    Xiaoguang, Zhang.  Modelling economic transition: a two-tier
            price computable general equilibrium model of the Chinese   
            economy.  35p.                                              
     455    Creedy, John.  Means-tested versus universal transfers.     
            25p.                                                        
     456    Creedy, John.  Taxes, transfers and income distribution:    
            some computer programs.  31p.                               
     453    Hirschberg, Joseph G.  The simulation of concentration and  
            diversity measures from firm-level financial data.  33p.    
     457    Hirschberg, J.G. & Slottje, D.J.  An extreme bounds approach
            to modelling wage discrimination.  18p.                     
     454    Hyde, Charles E.  Heterogeneity and inefficiency in         
            bargaining models of decentralised trade.  9p.              
     458    McDonald, Ted.  A micro-level view of industrial action in  
            the Australian mining and manufacturing industries          
            1983-1992.  42p.                                            


                                                           PAGE  66

     460    Bakker, Alexander.  The generalised exponential             
            distribution: some numerical issues of estimation.  31p.    
     461    Borland, Jeff.  Male labour market participation in         
            Australia.  43p.                                            
     462    Cornwell, Antonia & Creedy, John.  The distributional impact
            of fuel taxation.  20p.                                     
     459    Creedy, John.  "Walrasian" demand and supply functions.     
            78p.                                                        
     463    Hyde, Charles E.  Crop insurance: the relationship between  
            indemnity price and expected output price.  14p.            
     464    Atkinson, Margaret E. & Creedy, John.  Modelling optimal    
            retirement decisions in Australia.  28p.                    
     465    Olekalns, Nilss.  Some further evidence on the long run     
            neutrality of money.  13p.                                  
     466    Ritzmann, Derek P.H.  Productivity in Australian banking:   
            two alternative approaches.  31p.                           
     468    Bakker, Alexander.  Alternative strategies to maximum       
            likelihood estimation of the generalized exponential family.
             29p.                                                       
     474    Cornwell, A. & Creedy, J.  Commodity taxes, progressivity   
            and redistribution with demand responses.  27p.             
     476    Eichberger, Jurgen & Kelsey, David.  Uncertainty aversion   
            and preferences for randomisation.  16p.                    
     467    Henderson, David.  The revival of economic liberalism:      
            Australia in an international perspective.  27p.            
     470    Henry, O.T.J.  GARCH models of term structure term premia: a
            cautionary note.  13p.                                      
     472    Hurn, A. Stan & Lindsay, K.A.  Estimating the parameters of 
            stochastic differential equations by Monte Carlo methods.   
            7p.                                                         
     471    Hurn, A. Stan & McDonald, A. David.  The empirical size and 
            power of some tests for detecting ARCH in the presence of   
            serial correlation.  15p.                                   
     473    Hurn, A. Stan & McDonald, A. David.  Isolating cyclical     
            patterns in irregular time series data.  10p.               
     475    Olekalns, Nilss & Bardsley, Peter.  Wool price variability  
            in the long run.  11p.                                      
     469    Sherstyuk, Katerina.  How to gerrymander: a formal analysis.
             28p.                                                       
     481    Cornwell, Antonia & Creedy, John.  Carbon taxation, prices  
            and inequality in Australia.  29p.                          
     478    Creedy, John.  Lifetime versus annual income distribution.  
            24p.                                                        
     480    Creedy, John.  Poverty, social welfare and labour supply.   
            18p.                                                        
     479    Creedy, John & Wilhelm, Mark.  Income mobility, inequality  
            and social welfare.  16p.                                   
     477    Creedy, John & Dixon, Robert.  The relative burden of       
            monopoly on households with different incomes.  22p.        
     483    Lim, G.C. & Martin, Vance L.  A nonlinear characterization  
            of asset price dynamics with an application to the 1987     
            stock market crash.  40p.                                   
     482    Lim, G.C. & Martin, Vance L.  Testing speculative           
            efficiency: pitfalls, puzzles and parametrics.  30p.        




                                                           PAGE  67

     484    Ryan, Angela.  Early retirement and the optimal retirement  
            age.  31p.                                                  
     485    Creedy, John.  The optimal linear income tax: utility and   
            equivalent income.  17p.                                    
     486    Guest, Ross S. & McDonald, Ian M.  The volatility of the    
            socially optimal level of investment.  53p.                 
     487    Henry, Olan T.J.  Modeling the asymmetry of stock market    
            volatility.  22p.                                           

     MICHIGAN STATE UNIVERSITY.  Department of Economics.               

     9405   Baillie, Richard R. & Baltagi, Badi H.  Prediction from the 
            regression model with one-way error components.  15p.       
     9404   Creane, Anthony.  Adverse selection, moral hazard and entry.
             23p.                                                       
     9406   Baier, Scott L.  Monetary innovations, real effects, and the
            European Monetary System.  33p.                             
     9500   Baillie, Richard T.  Long memory processes and fractional   
            integration in econometrics.  79p.                          
     9408   Chung, Ching-Fan & Schmidt, Peter.  The minimum distance    
            estimator for fractionally integrated ARMA models.  36p.    
     9501   Creane, Anthony.  An inefficiency from investment under     
            uncertainty.  32p.                                          
     9502   Diebold, Francis X., Neumark, David & Polsky, Daniel.  Job  
            stability in the United States.  35p.                       
     9409   Hellerstein, Judith K. & Neumark, David.  Sex, wages, and   
            productivity: an empirical analysis of Israeli firm level   
            data.  32p.                                                 
     9407   Linz, Susan J.  Job rights in the Soviet and post-Soviet    
            economy: an analysis of gender differences.  21p.           
     9503   Tsay, Wen-Jen & Chung, Ching-Fan.  The spurious regression  
            of fractionally integrated processes.  38p.                 

     UNIVERSITY OF MICHIGAN.  Ctr. for Research on Econ & Social Theory.

     9414   Basu, Susanto & Li, David D.  Corruption and reform.  27p.  
     9412   Bergstrom, Theodore C.  Marriage markets and bargaining     
            between spouses.  14p.                                      
     9410   Bergstrom, Theodore C.  Primogeniture, monogamy and         
            reproductive success in a stratified society.  33p.         
     9411   Bergstrom, Theodore C.  On the economics of polygyny.  21p. 
     9413   Bergstrom, Theodore C.  A survey of theories of the family. 
            82p.                                                        
     9408   Chen, Yan.  Electoral systems, legislative process and      
            income taxation.  44p.                                      
     9409   McKie-Mason, Jeffrey W. & Varian, Hal R.  Pricing           
            congestible network resources.  22p.                        
     9415   O'Brien, Daniel P. & Shaffer, Greg.  Nonlinear supply       
            contracts, foreclosure, and exclusive dealing.  26p.        
     9416   Shaffer, Greg.  Rendering alternative offerings less        
            profitable with resale price maintenance.  30p.             
     9507   Bergstrom, Ted.  Economics in a family way.  39p.           
     9508   Bergstrom, Ted.  Evolution of behavior in family games.     
            20p.                                                        




                                                           PAGE  68

     9510   Brooks, Robin, et al.  When is the standard analysis of     
            common property extraction under free access correct?: a    
            game theoretic justificat.  18p.                            
     9506   Bui, Linda T.M.  Gains from trade in the optimal control of 
            environmental externalities: evidence from acid rain        
            abatement...  45p.                                          
     9504   De Arcangelis, Guiseppe.  Collapse of fixed exchange rate   
            regimes as breakdown in cooperation: the EMS in 1992-93 and 
            the transition to EMU.  39p.                                
     9505   Deardorff, Alan V.  Determinants of bilateral trade: does   
            gravity work in a neoclassical world?.  27p.                
     9509   Salant, Stephen, Kalat, Karen L. & Wheatcroft, Ana-Maria.   
            Deducing implications of fitness maximization when a        
            tradeoff exists among alternative currencies.  40p.         
     9503   Sonmez, Tayfun.  Implementation in generalized matching     
            problems.  15p.                                             
     9502   Sonmez, Tayfun.  Strategy-proofness and singleton cores in  
            generalized matching problems.  16p.                        
     9501   Sonmez, Tayfun.  Strategy-proofness in many-to-one matching 
            problems.  21p.                                             

     UNIVERSITA DEGLI STUDI DI MILANO. Dipt. Econ. Politica e Aziendale.

     9410   Checchi, Daniele, Ichimo, Andrea & Rustichini, Aldo.  Social
            mobility and efficiency: a re-examination of the problem of 
            intergenerational mobility in Italy.  29p.                  
     9409   Florio, Massimo.  Cost benefit analysis of infrastructure in
            the context of EU regional policy.  21p.                    
     9505   Cerasi, Vittoria & Daltung, Sonja.  The optimal size of a   
            bank: costs and benefits of diversification.  28p.          
     9504   Florio, Massimo.  Large firms, entrepreneurship and regional
            development policy: "growth poles" in the Mezzogiorno after 
            40 years.  40p.                                             
     9501   Navaretti, Giorio B.  Promoting the strong or supporting the
            weak?: technological gaps and segmented labor markets in    
            sub-Sahara African .  33p.                                  
     9503   Valsecchi, Irene.  Job design and maximum joint surplus.    
            19p.                                                        

     UNIVERSITY OF MINNESOTA.  Center for Economic Research.            

     277    Jordan, J.S.  Management accounting in activity networks.   
            66p.                                                        
     278    Jordan, J.S., Anctil, Regina & Mukherji, Arijit.            
            Activity-based costing for economic value added.  61p.      
     279    Hurwicz, Leonid & Richter, Marcel K.  Implicit functions and
            diffeomorphisms without C1.  31p.                           
     281    Kwok, Siu Kit Claudian.  An aggregate model of firm specific
            capital with and without commitment.  30p.                  
     282    TeSelle, Garratt H.  Stock price volatility tests of narrow 
            & broad dividends: a closer examination of the results of   
            Ackert & Smith.  22p.                                       
     283    Wong, Kam-Chau.  Excess demand functions, equilibrium prices
            and existence of equilibrium.  36p.                         




                                                           PAGE  69

     284    Gjerstad, Steven & Dickhaut, John.  Price formation in      
            double auctions.  27p.                                      

     UNIVERSITY OF MINNESOTA.  Economic Development Center.             

     95-1   Elbasha, Elamin H. & Roe, Terry.  On endogenous growth: the 
            implications of environmental externalities.  42p.          
     95-2   Roe, Terry & Diao, Xinshen.  The strategic interdependence  
            of a shared water aquifer: a general equilibrium analysis.  
            30p.                                                        
     95-3   Yeldan, Erinc.  Political economy perspectives on the 1994  
            Turkish economic crisis: a CGE modeling analysis.  54p.     
     95-4   Diao, Xinshen & Roe, Terry.  Environment, welfare and gains 
            from trade: a North-South model in general equilibrium.     
            46p.                                                        
     95-5   Aziz, Fahima.  Nutrition, health and labor productivity     
            analysis of male and female workers: a test of the          
            efficiency wage hypothe.  66p.                              
     95-6   Elbasha, Elamin H. & Roe, Terry L.  Environment in three    
            classes of endogenous growth models.  35p.                  
     95-8   Munisamy, Gopinath & Roe, Terry L.  General equilibrium     
            analysis of supply and factor returns in U.S. agriculture,  
            1949-91.  29p.                                              
     95-7   Munisamy, Gopinath & Roe, Terry L.  Sources of sectoral     
            growth in an economy wide context: the case of U.S.         
            agriculture.  29p.                                          

     MONASH UNIVERSITY.  Department of Econometrics.                    

     16/94  Franses, Philip H., et al.  Volatility patterns and         
            spillovers in bond futures.  25p.                           
     20/94  Fry, Tim R.L..  Advertising wearout in the Transport        
            Accident Commission road safety campaigns.  24p.            
     19/94  Hao, Kang & Inder, Brett.  A diagnostic test for structural 
            change in cointegrated regression models.  10p.             
     17/94  Harris, Mark N. & Macquarie, Lachlan R.  A comparative study
            of introductory and undergraduate econometric textbooks.    
            27p.                                                        
     15/94  Lieberman, Offer & Matyas, Lazslo.  Improved estimation     
            procedures for nonlinear panel data models.  16p.           
     18/94  Maharaj, Elizabeth A.  A significance test for classifying  
            ARMA models.  23p.                                          
     1/95   Brooks, Robert D., Fry, Tim R.L. & Harris, Mark N.          
            Combining choice set partition tests for the independence of
            irrelevant alternatives property: size properties in t.  8p.
     2/95   Brooks, Robert D., Fry, Tim R.L. & Harris, Mark N.  The size
            and power properties of combining choice set partition tests
            for the IIA property in the logit model.  28p.              
     3/95   McLaren, Keith R.  A parsimonious autocorrelation correction
            for singular demand systems.  10p.                          
     4/95   Ord, J.K., Koehler, A. & Snyder, R.D.  Estimation and       
            prediction for a class of dynamic nonlinear statistical     
            models.  34p.                                               
     5/95   Snyder, R.D.  Inventory control: back to the molehills.     
            16p.                                                        



                                                           PAGE  70

     10/95  Blanchard, Pierre & Matyas, Laszlo.  Misspecified           
            heterogeneity in panel data models.  32p.                   
     6/95   King, Maxwell L. & Harris, David C.  The application of the 
            Durbin-Watson test to the dynamic regression model under    
            normal and non-normal errors.  25p.                         
     9/95   Korosi, Gabor & Matyas, Laszlo.  The INITB macros user's    
            guide: a macro collection to write books using TeX.  16p.   
     8/95   Mather, Dineli.  A computer simulation of the spread of     
            hepatitis C.  14p.                                          
     7/95   Wu, Ping & King, Maxwell L.  Small-sample power of tests for
            inequality restrictions: the case of quarter dependent      
            regressor errors.  15p.                                     
     12/95  Ara, Ismat & King, Maxwell L.  Marginal likelihood based    
            tests of a subvector of the parameter vector of linear      
            regression disturbances.  39p.                              
     15/95  Forbes, Catherine S., King, Maxwell L. & Morgan, Alan.  A   
            small sample variable selection procedure.  24p.            
     11/95  Kalb, Guyonne R.J., Kofman, Paul & Vorst, Ton C.F.  Mixtures
            of tails in clustered automobile collision claims.  30p.    
     14/95  Martens, Martin, Kofman, Paul & Vorst, Ton C.F.  A          
            threshhold error correction model for intraday futures and  
            index returns.  32p.                                        
     13/95  Powell, Alan A.  From Dornbusch to Murphy: stylized monetary
            dynamics of a contemporary macroeconometric model.  29p.    

     MONASH UNIVERSITY.  Department of Economics.                       

     21/94  Riches, Brendon.  Price wars and petroleum: a               
            "structure-conduct" analysis.  40p.                         
     20/94  Yang, Xiaokai.  An equilibrium model of hierarchy.  40p.    
     22/94  Yin, Xiangkang.  A micro-macroeconomic analysis of the      
            Chinese economy with imperfect competition.  30p.           
     25/94  Fisher, Eric O'N.  Crowding out in a model of endogenous    
            growth.  32p.                                               
     23/94  Krueger, Anne O. & Duncan, Roderick.  The political economy 
            of controls: complexity.  38p.                              
     24/94  Ng, Yew-Kwang.  Ranking utility streams of infinite length: 
            the immunity of utilitarianism from some recent attacks.    
            19p.                                                        
     29/94  Fausten, Dietrich K. & Brooks, Robert D.  The balancing in  
            Australia's balance of payments accounts: an impressionistic
            view.  21p.                                                 
     27/94  Marjit, Sugata.  Transferring personalised knowledge or     
            Guru's dilemma.  12p.                                       
     28/94  Marjit, Sugata & Beladi, Hamid.  A game theoretic analysis  
            of South-South cooperation.  15p.                           
     26/94  Snape, Richard H.  Globalisation and internationalisation of
            the Australian economy: trade and trade policy.  19p.       
     3/95   Berliant, Marcus & Gouveia, Miguel.  On the political       
            economy of income taxation.  45p.                           
     30/94  Goss, Barry A. & Aysar, S. Gulay.  Price determination and  
            forecasting in the Australian (non-storable) live cattle    
            market.  36p.                                               
     4/95   Lavoie, Marc.  Interest rates in post-Keynesian models of   
            growth and distribution.  36p.                              



                                                           PAGE  71

     1/95   Maddock, Rodney.  Access to essential facilities:           
            implementing Hilmer.  32p.                                  
     2/95   Smyth, Russell.  Estimating the deterrent effect of         
            punishment using New South Wales local court data.  34p.    
     5/95   Wen, Mei.  An analytical framework of producer-consumers,   
            economies of specialization and transportation costs.  13p. 
     12/95  Fried, Harold O. & Yaisawarng, Suthathip.  Hospital mergers 
            and efficiency.  28p.                                       
     10/95  Garvey, Gerald T., McCorry, Michael S. & Swan, Peter L.     
            Stock market liquidity and optimal management compensation: 
            theory and evidence.  22p.                                  
     7/95   Hall, Viv.  Economic growth performance and New Zealand's   
            economic reforms.  48p.                                     
     6/95   Naqvi, Farzana.  Social welfare effects of taxes on energy  
            products in Pakistan: a computable general equilibrium      
            approach.  31p.                                             
     9/95   Ng, Siang.  Specialization, trade, and growth.  46p.        
     11/95  Ng, Yew-Kwang.  From separability to unweighted sum: a case 
            for utilitarianism.  30p.                                   
     8/95   Yang, Xiaokai.  Economies of specialization and downward    
            sloping supply curves: an inframarginal analysis.  29p.     
     23/95  Cheng, Wenli & Ng, Yew-Kwang.  Intra-firm branch competition
            for a monopolist.  30p.                                     
     14/95  Cobb-Clark, Deborah A., Shiells, Clinton R. & Lowell, B.    
            Lindsay.  Immigration reform: the effects of employer       
            sanctions and legalization on wages.  47p.                  
     22/95  Guttman, Joel M.  Rational actors, tit-for-tat types, and   
            the evolution of cooperation.  37p.                         
     13/95  Kemp, Murray C. & Sinn, Hans-Werner.  A simple model of     
            privately profitable but socially harmful speculation.  14p.
     21/95  King, Stephen & Pitchford, Rohan.  Economic theories of     
            privatisation and corporatisation.  22p.                    
     15/95  Mei, Wen.  Per capita resource, division of labour, and     
            productivity.  22p.                                         
     16/95  Ng, Yew-Kwang.  Relative income and Diamond effects: a case 
            for burden-free taxes and higher public expenditures.  9p.  
     24/95  Yang, Xiaokai & Ng, Siang.  Specialization and division of  
            labor: a survey.  41p.                                      

     UNIVERSITE DE MONTREAL.  Departement de Sciences Economiques.      

     9510   Garcia, Rene.  Asymptotic null distribution of the          
            likelihood ratio test in Markov switching models.  48p.     
     9505   Garcia, Rene & Schaller, Huntley.  Are the effects of       
            monetary policy asymmetric?.  40p.                          
     9511   Garcia, Rene, Lusardi, Annamaria & Ng, Serena.  Excess      
            sensitivity and asymmetries in consumption: an empirical    
            investigation.  24p.                                        
     9517   Ghysels, Eric, Granger, Clive W.J. & Siklos, Pierre L.  Is  
            seasonal adjustment a linear or nonlinear data filtering    
            process?.  32p.                                             
     9518   Ghysels, Eric, Hall, Alastair & Lee, Hahn S.  On periodic   
            structures and testing for seasonal unit roots.  43p.       
     9513   Ghysels, Eric, Khalaf, Lynda & Vodounou, Cosme.  Simulation 
            based inference in moving average models.  8p.              



                                                           PAGE  72

     9514   Ng, Serena.  Looking for evidence of speculative            
            stockholding in commodity markets.  23p.                    
     9516   Ng, Serena.  Testing for homogeneity in demand systems: when
            the regressors are non-stationary.  24p.                    
     9515   Ng, Serena & Schaller, Huntley.  The risky spread,          
            investment, and monetary policy transmission: evidence on   
            the role of asymmetric information.  24p.                   
     9508   Parent, Daniel.  Industry-specific capital and the wage     
            profile: evidence from the NLSY and the PSID.  19p.         
     9509   Parent, Daniel.  Matching, human capital, and the covariance
            structure of earnings.  52p.                                
     9507   Parent, Daniel.  Wages and mobility: the impact of          
            employer-provided training.  32p.                           
     9512   Sprumont, Yves.  An axiomatization of the Pazner-Schmeidler 
            rules in large fair division problems.  24p.                
     9503   Abowd, John M., Kramarz, Francis & Margolis, David N.       
            High-wage workers and high-wage firms.  72p.                
     9501   Boyer, Marcel & Laffont, Jean-Jacques.  Environmental risks 
            and bank liability.  44p.                                   
     9504   Cardia, Emanuela & Ambler, Steve.  Indexation lags and      
            heterodox stabilization programs.  27p.                     
     9412   Gaudry, Marc, Mandel, Benedikt & Rothengatter, Werner.      
            Introducing spatial competition through an autoregressive   
            continuous distributed (AR-C-D) process....  55p.           
     9502   Margolis, David N.  Firm heterogeneity and worker           
            self-selection bias estimated returns to seniority.  27p.   
     9421   Perron, Pierre.  Further evidence on breaking trend         
            functions in macroeconomic variables.  48p.                 
     9545   Arcand, Jean-Louis.  Land ownership, working capital, and   
            agricultural output: Egypt, 1913-1958.  91p.                
     9546   Arcand, Jean-Louis & Dagenais, Marcel G.  The empirics of   
            economic growth in a cross section of countries: do errors  
            in variables really not matter?.  63p.                      
     9522   Bronsard, Camille, Salvas-Bronsard, Lise & Trognon, Alain.  
            On the residual dynamics implied by the rational            
            expectations hypothesis.  16p.                              
     9532   Bronsard, Camille, Michel, Philippe & Salvas-Bronsard, Lise.
             Singular demand systems as an instrument of scientific     
            discovery.  15p.                                            
     9523   Campbell, Bryan & Ghysels, Eric.  An empirical analysis of  
            the Canadian budget process.  28p.                          
     9520   Charles, Sandra, Vaillancourt, Francois & Marceau, Nicholas.
             The impact of decentralization on growth and democracy: a  
            note.  11p.                                                 
     9533   Dionne, Georges & Fluet, Claude.  Incentives in multiperiod 
            regulation and procurement: a graphical analysis.  44p.     
     9531   Dionne, G. & Fombaron, Nathalie.  Non-convexities and       
            efficiency of equilibria in insurance markets with          
            asymmetric information.  20p.                               
     9537   Dionne, Georges, Gagne, Robert & Vanasse, Charles.          
            Inferring technological parameters from incomplete panel    
            data.  38p.                                                 
     9528   Dionne, G., Artis, M. & Guillen, M.  On the repayment of    
            personal loans under asymmetrical information: a count data 
            model approach.  31p.                                       



                                                           PAGE  73

     9539   Dufour, Jean-Marie.  Some impossibility theorems in         
            econometrics with applications to instrumental variables,   
            dynamic models & cointegra.  40p.                           
     9548   Dufour, Jean-Marie & Kiviet, Jan F.  Exact tests for        
            structural change in first-order dynamic models.  37p.      
     9538   Dufour, Jean-Marie & Renault, Eric.  Short-run and long-run 
            causality in time series: theory.  38p.                     
     9525   Ghysels, Eric.  On stable factor structures in the pricing  
            of risk.  36p.                                              
     9536   Ghysels, Eric, Gouieroux, Christian & Jasiak, Joana.  Market
            time and asset price movements: theory and estimation.  59p.
     9524   Ghysels, Eric, Guay, Alain & Hall, Alastair.  Predictive    
            tests for structural change with unknown breakpoint.  27p.  
     9544   Kichian, Maral, Garcia, Rene & Ghysels, Eric.  On the       
            dynamic specification of international asset pricing models.
             27p.                                                       
     9549   Kiviet, Jan F. & Dufour, Jean-Marie.  Exact tests in single 
            equation autoregressive distributed lag models.  36p.       
     9526   Kollmann, Robert.  Mark up fluctuations in U.S.             
            manufacturing and trade: new empirical evidence based on a  
            model of optimal storage.  20p.                             
     9527   Laberge-Nadeau, Claire, et al.  Medical conditions and the  
            severity of commercial motor vehicle (CMV) drivers' road    
            accidents.  24p.                                            
     9541   Loranger, Jean-Guy.  Neoliberalism and the overwhelming     
            influence of financial markets: a comprehensive analysis... 
            31p.                                                        
     9540   Mercenier, Jean & Michel, Philippe.  Temporal aggregation in
            a multi-sector economy with endogenous growth.  15p.        
     9534   Ng, Serena & Perron, Pierre.  Estimation and inference in   
            nearly unbalanced, nearly cointegrated systems.  36p.       
     9535   Ng, Serena & Perron, Pierre.  The exact error in estimating 
            the spectral density at the origin.  31p.                   
     9530   Pesaran, M. Hashem & Ruge-Murcia, Francisco J.  A           
            discrete-time version of target zone models with jumps.     
            48p.                                                        
     9529   Ruge-Murcia, Francisco J.  Government expenditure and the   
            dynamics of high inflation.  43p.                           
     9521   Sprumont, Yves.  Balanced egalitarian redistribution of     
            income.  15p.                                               
     9519   Sprumont, Yves.  On the game-theoretic structure of         
            public-good economies.  19p.                                

     UNIVERSITY OF MUNICH.  Center for Economic Studies.                

     71     Darby, Julia & Malley, Jim.  Fiscal policy and consumption: 
            new evidence from the United States.  25p.                  
     70     Gabrielsen, Tommy S. & Sorgard, Lars.  Vertical restraint   
            and interbrand competition.  29p.                           
     69     Gandolfo, Giancarlo, et al.  The Italian continuous time    
            model: results of the nonlinear estimation.  28p.           
     72     Maher, Maria E.  Transaction cost economics and contractual 
            relations.  39p.                                            
     73     Slade, Margaret E. & Thille, Henry.  Hotelling confronts    
            CAPM: a test of the theory of exhaustible resources.  40p.  



                                                           PAGE  74

     68     Stein, Jerome L & Sauernheimer, Karlhans.  The real exchange
            rates of Germany.  51p.                                     
     79     Arnott, Richard J. & Braid, Ralph M.  A filtering model with
            steady-state housing.  51p.                                 
     75     Asheim, Geir B.  The Weitzman foundation of NNP with        
            non-constant interest rates: a comment to Sefton and Weale. 
            17p.                                                        
     81     Bittlingmayer, George.  Industry investment and regulation. 
            32p.                                                        
     78     Gottinger, Hans W.  Dynamic portfolio choice and stochastic 
            survival.  15p.                                             
     74     Goulder, Lawrence H.  Environmental taxation and the "double
            dividend": a reader's guide.  35p.                          
     76     Guesnerie, Roger.  The genealogy of modern theoretical      
            public economics: from first best to second best.  31p.     
     80     Kanniainen, Vesa.  Price uncertainty and investment behavior
            of corporate management under risk aversion and preference  
            for prudence.  17p.                                         
     77     Olsen, Trond E. & Torsvik, Gaute.  Limited intertemporal    
            commitment and job design.  27p.                            

     UNIVERSITAT MUNCHEN.  Volkswirtschaftliche Fakultat.               

     9425   Albrecht, Barthold & Thum, Marcel.  Privatization, labour   
            participation, and the threat of bankruptcy: the case of    
            Poland.  17p.                                               
     9419   Bauernfeind, Walter & Woitek, Ulrich.  Business cycles in   
            Germany 1339-1670: a spectral analysis of grain prices and  
            production in Nuremberg.  33p.                              
     9421   Gang, Ira N.  Small firms in India: a discussion of some    
            issues.  35p.                                               
     9422   Gangopadhyay, Shubhasis & Gang, Ira N.  Foreign investment  
            and control of transnational enterprises.  25p.             
     9423   Gehrels, Franz.  R & D as investment: theory and evidence   
            from U.S. and German pharmaceutical firms.  14p.            
     9420   Schmidt, Christoph.  Cohort sizez and unemployment: lessons 
            for Poland.  29p.                                           
     9429   Alecke, Bjoern & Komlos, John.  Were the heights of slaves  
            shipped in interregional trade representative of the slave  
            population at large (At the p.  38p.                        
     9430   Spoerer, Mark.  German net investment and the cumulative    
            real wage position 1925-1929: on a premature burial of the  
            Borchardt debat.  13p.                                      
     9428   Stilz, Anette.  Profit-sharing and wage bargaining in an    
            international oligopoly.  17p.                              
     9501   Bauer, Thomas & Zimmermann, Klaus F.  Modelling             
            international migration: economic and econometric issues.   
            27p.                                                        
     9506   Berger, Helge & Woitek, Ulrich.  Are there political        
            business cycles in Germany?.  54p.                          
     9504   Haisken-DeNew, John P. & Schmidt, Christoph M.              
            Inter-industry and inter-region differentials: mechanics and
            interpretation.  14p.                                       
     9508   Heintel, Markus.  A simple method for identifying the       
            truncation point of height samples with shortfall.  11p.    



                                                           PAGE  75

     9503   Spree, Reinhard.  On infant mortality change in Germany     
            since the ealy 19th century.  45p.                          

     NATIONAL BUREAU OF ECONOMIC RESEARCH.  Working Papers.             

     4917   Abowd, John M. & Margolis, David N.  High wage workers and  
            high wage firms.  71p.                                      
     4920   Baker, Laurence C.  Does competition from HMOs affect fee   
            for service physicians?.  55p.                              
     4934   Calomiris, Charles W. & Mason, Joseph R.  Contagion and bank
            failures during the Great Depression: the June 1932 Chicago 
            banking panic.  25p.                                        
     4935   Calomiris, Charles W. & Hanes, Christopher.  Historical     
            macroeconomics and American macroeconomic history.  82p.    
     4929   Costa, Dora L.  Health and labor force participation of     
            older men, 1900-1991.  31p.                                 
     4930   Currie, Janet, Gruber, Jonathan & Fischer, Michael.         
            Physician payments and infant mortality: evidence from      
            Medicaid fee policy.  33p.                                  
     4936   Dominitz, Jeff & Manski, Charles F.  Eliciting student      
            expectations of the returns to schooling.  36p.             
     4937   Dominitz, Jeff & Manski, Charles F.  Using expectations data
            to study subjective income expectations.  27p.              
     4931   Eaton, Jonathan & Kortum, Samuel.  International patenting  
            and technology diffusion.  42p.                             
     4922   Erikson, Christopher L. & Ichino, Andrea.  Wage             
            differentials in Italy: market forces, institutions, and    
            inflation.  44p.                                            
     4928   Flood, Robert P. & Rose, Andrew K.  Fixes: of the forward   
            discount puzzle.  11p.                                      
     4918   Freeman, Richard B. & Lazear, Edward P.  An economic        
            analysis of works councils.  40p.                           
     4924   Froot, Kenneth A. & Hines, James R.  Interest allocation    
            rules, financing patterns, and the operations of U.S.       
            multinationals.  48p.                                       
     4926   Grossman, Gene M. & Helpman, Elhanan.  Technology and trade.
             77p.                                                       
     4933   Gruber, Jonathan & Owings, Maria.  Physician financial      
            incentives and Cesarean section delivery.  48p.             
     4919   Hayashi, Fumio & Matsui, Akihiko.  A model of fiat money and
            barter.  26p.                                               
     4932   Hines, James R.  Taxes, technology transfer, and the R & D  
            activities of multinational firms.  36p.                    
     4927   Lipsey, Robert E.  Foreign-owned firms and U.S. wages.  51p.
     4923   Marston, Richard C.  Tests of three parity conditions:      
            distinguishing risk premia and systematic forecast errors.  
            34p.                                                        
     4921   Petersen, Mitchell A. & Rajan, Raghuram G.  The effect of   
            credit market competition on lending relationships.  46p.   
     4916   Poterba, James M.  Government intervention in the markets   
            for education and health care: how and why?.  50p.          
     4939   Tauchen, Helen V. & Witte, Ann D.  The dynamics of domestic 
            violence: does arrest matter?.  13p.                        
     4967   Aitken, Brian, Hanson, Gordon H. & Harrison, Ann E.         
            Spillovers, foreign investment, and export behavior.  40p.  



                                                           PAGE  76

     4950   Altonji, Joseph G. & Dunn, Thomas A.  An intergenerational  
            model of wages, hours and earnings.  39p.                   
     4960   Anderson, Patricia M. & Meyer, Bruce D.  The effects of     
            unemployment insurance taxes and benefits on layoffs using  
            firm and individual data.  48p.                             
     4975   Baxter, Marianne & Crucini, Mario J.  Business cycles and   
            the asset stucture of foreign trade.  40p.                  
     4956   Besley, Timothy & Case, Anne.  Unnatural experiments?:      
            estimating the incidence of endogenous policies.  44p.      
     4945   Bjorklund, Anders & Freeman, Richard B.  Generating equality
            and eliminating poverty, the Swedish way.  72p.             
     4955   Borjas, George J.  The economic benefits from immigration.  
            28p.                                                        
     4988   Brock, William A. & LeBaron, Blake D.  A dynamic structural 
            model for stock return volatility and trading volume.  46p. 
     4953   Chipty, Tasneem & Witte, Ann D.  Economic effects of quality
            deregulations in the daycare industry.  11p.                
     4963   Dooley, Michael P.  A retrospective on the debt crisis.     
            50p.                                                        
     4966   Engle, Robert F. & Russell, Jeffrey R.  Forecasting         
            transaction rates: the autoregressive conditional duration  
            model.  45p.                                                
     4958   Engle, Robert F. & Rosenberg, Joshua.  Hedging options in a 
            GARCH environment: testing the term structure of stochastic 
            volatility models.  35p.                                    
     4949   Evans, William N. & Montgomery, Edward.  Education and      
            health: when there's smoke there's an instrument.  52p.     
     4947   Fishback, Price V. & Kantor, Shawn E.  Did workers pay for  
            the passage of workers' compensation laws?.  38p.           
     4943   Fishback, Price V. & Kantor, Shawn E.  Insurance rationing  
            and the origins of workers' compensation.  51p.             
     4957   Flood, Robert & Marion, Nancy.  The size and timing of      
            devaluations in capital-controlled developing economies.    
            25p.                                                        
     4969   Friedman, Benjamin M. & Kuttner, Kenneth N.  Indicator      
            properties of the paper-bill spread: lessons from recent    
            experience.  34p.                                           
     4952   Froot, Kenneth A. & Rogoff, Kenneth.  Perspectives on PPP   
            and long-run real exchange rates.  54p.                     
     4971   Garber, Peter M. & Svensson, Lars E.O.  The operation and   
            collapse of fixed exchange rate regimes.  60p.              
     4954   Glaeser, Edward L. & Scheinkman, Jose A.  Neither a borrower
            nor a lender be: an economic analysis of interest           
            restrictions and usury laws.  55p.                          
     4941   Gruber, Jonathan & Kubik, Jeffrey D.  Disability insurance  
            rejection rates and the labor supply of older workers.  34p.
     4970   Hausman, Jerry A.  Valuation of new goods under perfect and 
            imperfect competition.  39p.                                
     4981   Hellerstein, Judith K.  The demand for post-patent          
            prescription pharmaceuticals.  56p.                         
     4978   Hoxby, Caroline M.  Do private schools provide competition  
            for public schools?.  53p.                                  
     4679   Hoxby, Caroline M.  Does competition among public schools   
            benefit students and taxpayers?.  59p.                      




                                                           PAGE  77

     4977   Hubbard, R. Glenn.  Is there a `credit channel' for monetary
            policy?.  45p.                                              
     4965   Ikenberry, David, Lakonishok, Josef & Vermaelen, Theo.      
            Market underreaction to open market share repurchases.  31p.
     4944   Irwin, Douglas A.  The GATT's contribution to economic      
            recovery in post-war Western Europe.  38p.                  
     4974   Irwin, Douglas A. & Klenow, Peter J.  High tech R & D       
            subsidies: estimating the effects of Sematech.  34p.        
     4976   Joskow, Paul L. & Rose, Nancy L.  CEO pay and firm          
            performance: dynamics, asymmetries, and alternative         
            performance measures.  39p.                                 
     4980   Joskow, Paul L., Rose, Nancy L. & Wolfram, Catherine D.     
            Political constraints on executive compensation: evidence   
            from the electric utility industry.  31p.                   
     4961   Kaplow, Louis.  A fundamental objection to tax equity norms:
            a call for utilitarianism.  31p.                            
     4942   Kremer, Michael.  Can having fewer partners increase        
            prevalence of AIDS?.  51p.                                  
     4983   Krishna, Kala & Krueger, Anne.  Implementing free trade     
            areas: rules of origin and hidden protection.  44p.         
     4986   Leahy, John V. & Whited, Toni M.  The effect of uncertainty 
            on investment: some stylized facts.  29p.                   
     4940   Leamer, Edward E. & Levinsohn, James.  International trade  
            theory: the evidence.  66p.                                 
     4972   Levinsohn, James.  Competition policy and international     
            trade.  31p.                                                
     4951   Lewis, Karen K.  Puzzles in international financial markets.
             73p.                                                       
     4982   Lyons, Richard K. & Rose, Andrew K.  Explaining forward     
            exchange bias...intraday.  13p.                             
     4984   Lyons, Richard K.  Foreign exchange volume: sound and fury  
            signifying nothing?.  31p.                                  
     4938   McCallum, Bennett T.  Monetary policy and the term structure
            of interest rates.  26p.                                    
     4968   Paxson, Christina H. & Sicherman, Nachum.  The dynamics of  
            dual-job holding and job mobility.  45p.                    
     4959   Ramey, Garey & Rameny, Valerie A.  Cross-country evidence on
            the link between volatility and growth.  26p.               
     4973   Rauch, James E.  Bureaucracy, infrastructure, and economic  
            growth: evidence from U.S. cities during the progressive    
            era.  22p.                                                  
     4964   Rodrik, Dani.  Getting interventions right: how South Korea 
            and Taiwan grew rich.  53p.                                 
     4948   Rotemberg, Julio J.  Prices, output and hours: an empirical 
            analysis based on a sticky price model.  54p.               
     4962   Staiger, Robert W.  International rules and institutions for
            trade policy.  69p.                                         
     4985   Svensson, Lars E.O.  The Swedish experience of an inflation 
            target.  27p.                                               
     4946   Zucker, Lynne G., Darby, Michael R & Armstrong, Jeff.       
            Intellectual capital and the firm: the technology of        
            geographically localized knowledge spillovers.  59p.        
     4992   Alesina, Alberto & Perotti, Roberto.  Economic risk and     
            political risk in fiscal unions.  26p.                      




                                                           PAGE  78

     5001   Anderson, Patricia M. & Burgess, Simon M.  Empirical        
            matching functions: estimation and interpretation using     
            disaggregate data.  29p.                                    
     4990   Bekaert, Geert & Urias, Michael S.  Diversification,        
            integration and emerging market closed-end funds.  59p.     
     4995   Campbell, John Y. & Cochrane, John H.  By force of habit: a 
            consumption-based explanation of aggregate stock market     
            behavior.  55p.                                             
     4989   Campbell, Thomas J., Kessler, Daniel P. & Shepherd, George  
            B.  The causes and effects of liability reform: some        
            empirical evidence.  44p.                                   
     4998   Carlton, Dennis W., Bamberger, Gustavo E. & Epstein, Roy J. 
            Antitrust and higher education: was there a conspiracy to   
            restrict financial aid?.  37p.                              
     4993   Edwards, Franklin R. & Mishkin, Frederic S.  The decline of 
            traditional banking: implications for financial stability   
            and regulatory policy.  45p.                                
     5000   Feldstein, Martin.  Behavioral responses to tax rates:      
            evidence from the Tax Reform Act of 1986.  12p.             
     4987   Glaeser, Edward L.  The incentive effects of property taxes 
            on local governments.  24p.                                 
     4994   Gray, Wayne B. & Shadbegian, Ronald J.  Pollution abatement 
            costs, regulation, and plant level productivity.  30p.      
     4996   Gustman, Alan L. & Juster, F. Thomas.  Income and wealth of 
            older American households: modelling issues for public      
            policy analysis.  64p.                                      
     4997   Kandel, Shmuel & Stambaugh, Robert F.  On the predictability
            of stock returns: an asset-allocation perspective.  39p.    
     4999   Krishna, Kala.  The adding up problem: a targeting approach.
             37p.                                                       
     4991   Levitt, Steven D.  Using electoral cycles in police hiring  
            to estimate the effect of police on crime.  44p.            
     5002   Levitt, Steven D. & Snyder, James M.  The impact of federal 
            spending on house election outcomes.  28p.                  
     5003   Rosen, Sherwin.  Public employment, taxes and the welfare   
            state in Sweden.  59p.                                      
     4925   Ruhm, Christopher J.  Do pensions increase the labor supply 
            of older men?.  25p.                                        
     5041   Aizenman, Joshua.  Investment in new activities and the     
            welfare cost of uncertainty.  18p.                          
     5009   Auerbach, Alan J.  Tax projections and the budget: lessons  
            from the 1980s.  12p.                                       
     5037   Baldwin, Robert E.  The effect of trade and foreign direct  
            investment on employment and relative wages.  69p.          
     5015   Ball, Laurence, Elmendorf, Douglas W. & Mankiw, N. Gregory. 
            The deficit gamble.  47p.                                   
     5025   Baxter, Marianne.  International trade and business cycles. 
            69p.                                                        
     5019   Baxter, Marianne & Jermann, Urban J.  The international     
            diversification puzzle is worse than you think.  23p.       
     5022   Baxter, Marianne & King, Robert G.  Measuring business      
            cycles: approximate band-pass filters for economic time     
            series.  52p.                                               
     5047   Borenstein, Severin & Rose, Nancy L.  Do airlines in Chapter
            11 harm their rivals?: bankruptcy and pricing behavior in   
            U.S. airline markets.  23p.                                 


                                                           PAGE  79

     5045   Boyd, John H. & Gertler, Mark.  Are banks dead?: or are the 
            reports greatly exaggerated?.  41p.                         
     5020   Brander, James A.  Strategic trade policy.  76p.            
     5021   Brander, James A. & Taylor, M. Scott.  International trade  
            and open access renewable resources: the small open economy 
            case.  37p.                                                 
     5042   Caballero, Ricardo J., Engel, Eduardo M.R.A. & Haltiwanger, 
            John.  Aggregate employment dynamics: building from         
            microeconomic evidence.  50p.                               
     5031   Campbell, John Y.  Some lessons from the yield curve.  33p. 
     5011   Cecchetti, Stephen G., Kashyap, Anil K. & Wilcox, David W.  
            Do firms smooth the seasonal in production in a boom?:      
            theory and evidence.  28p.                                  
     5012   Chaloupka, Frank J. & Wechsler, Henry.  Price, tobacco      
            control policies and smoking among young adults.  46p.      
     5048   Coe, David T., Helpman, Elhanan & Hoffmaister, Alexander W. 
            North-South R & D spillovers.  41p.                         
     5007   Edlin, Arron S. & Reichelstein, Stefan.  Holdups, standard  
            breach remedies, and optimal investment.  41p.              
     5023   Eissa, Nada.  Taxation and labor supply of married women:   
            the Tax Reform Act of 1986 as a natural experiment.  51p.   
     5014   Farber, Henry S.  Are lifetime jobs disappearing?: job      
            duration in the United States 1973-1993.  57p.              
     5005   Farber, Henry S. & Gowa, Joanne.  Common interests or common
            polities?: reinterpreting the democratic peace.  39p.       
     5006   Frankel, Jeffrey A. & Rose, Andrew K.  A panel project on   
            purchasing power parity: mean reversion within and between  
            countries.  18p.                                            
     5034   Garber, Alan M.  To comfort always: the prospects of        
            expanded social responsibility for long term care.  42p.    
     5026   Glaeser, Edward L., Sacerdote, Bruce & Scheinkman, Jose A.  
            Crime and social interactions.  72p.                        
     5013   Glaeser, Edward I., Scheinkman, Jose A. & Shleifer, Andrei. 
            Economic growth in a cross-section of cities.  34p.         
     5033   Hayashi, Fumio.  Is the Japanese extended family            
            altruistically linked?: a test based on Engel curves.  19p. 
     5004   Holtz-Eakin, Douglas & Schwartz, Amy E.  Spatial            
            productivity spillovers from public infrastructure: evidence
            from state highways.  18p.                                  
     5010   He, Hua & Wang, Jiang.  Differential information and dynamic
            behavior of stock trading volume.  57p.                     
     5029   Horstmann, Ignatius J. & Markusen, James R.  Exploring new  
            markets: direct investment, contractual relations and the   
            multinational enterprise.  29p.                             
     5038   Kaestner, Robert.  The effects of cocaine and marijuana use 
            on marriage and marital stability.  37p.                    
     5008   Kaplow, Louis.  Regional cost-of-living adjustments in      
            tax-transfer schemes.  33p.                                 
     5046   Kimball, Miles S.  The quantitative analytics of the basic  
            neomonetarist model.  44p.                                  
     5027   Lo, Andrew W. & MacKinlay, A. Craig.  Maximizing            
            predictability in the stock and bond markets.  58p.         
     5036   Narkusen, James R. & Venables, Anthony J.  Multinational    
            firms and the new trade theory.  37p.                       




                                                           PAGE  80

     5043   Mishkin, Frederic S.  The rational expectations revolution: 
            a review article of Preston J. Miller, ed "The Rational     
            Expectations Revoluti.  25p.                                
     5040   Mocan, H. Naci.  Quality adjusted cost functions for child  
            care centers.  13p.                                         
     5018   Mulligan, Casey B. & Sala-i-Martin, Xavier.  A labor income 
            based measure of the value of human capital: an application 
            to the states of the United States.  63p.                   
     5016   Mulligan, Casey B. & Sala-i-Martin, Xavier.  Measuring      
            aggregate human capital.  53p.                              
     5044   Neumark, David & Postlewaite, Andrew.  Relative income      
            concerns and the rise in married women's employment.  48p.  
     5024   Neumark, David, Bank, Roy J. & Van Nort, Kyle D.  Sex       
            discrimination in restraint hiring: an audit study.  33p.   
     5035   Raff, Daniel M.G. & Trajtenberg, Manuel.  Quality-adjusted  
            prices for the American automobile industry: 1906-1940.     
            54p.                                                        
     5028   Razin, Assaf & Yuen, Chi-Wa.  Capital income taxation and   
            long run growth: new perspectives.  32p.                    
     5030   Ruhm, Christopher J.  Is high school employment consumption 
            or investment?.  45p.                                       
     5039   Sachs, Jeffrey D. & Warner, Andrew M.  Economic convergence 
            and economic policies.  47p.                                
     5017   Waldmann, Timothy, Bound, John & Schoenbaum, Michael.  The  
            illusion of failure: trends in the self-reported health of  
            the U.S. elderly.  46p.                                     
     5032   Wei, Shang-Jin & Parsley, David C.  Purchasing power        
            disparity during the floating rate period: exchange rate    
            volatility, trade barriers and other culp.  41p.            
     5050   Alesina, Alberto & Spolaore, Enrico.  On the number and size
            of nations.  48p.                                           
     5072   Altonji, Joseph G. & Dunn, Thomas A.  The effects of school 
            and family characteristics on the return to education.  48p.
     5063   Aoki, Reiko & Prusa, Thomas J.  Product development and the 
            timing of information disclosure under U.S. and Japanese    
            patent systems.  30p.                                       
     5056   Bagwell, Kyle & Staiger, Robert W.  Collusion over the      
            business cycle.  52p.                                       
     5073   Basu, Susanto & Fernald, John G.  Are apparent productive   
            spillovers a figment of specification error?.  33p.         
     5057   Borenszstein, Eduardo, De Gregorio, Jose & Lee, Jong-Wha.   
            How does foreign direct investment affect economic growth?. 
            27p.                                                        
     5058   Card, David & McCall, Brian P.  Is workers' compensation    
            covering uninsured medical costs?: evidence from the `Monday
            effect'.  45p.                                              
     5078   Case, Karl E., Shiller, Robert J. & Weiss, Allan N.         
            Mortgage default risk and real estate prices: the use of    
            index-based futures and options in real estate.  34p.       
     5052   Currie, Janet & Gruber, Jonathan.  Health insurance         
            eligibility, utilization of medical care, and child health. 
            51p.                                                        
     5049   Eaton, Jonathan & Kortum, Samuel.  Trade in ideas: patenting
            and productivity in the OECD.  37p.                         




                                                           PAGE  81

     5061   Feenstra, Robert C.  Exact hedonic price indexes.  44p.     
     5051   Feenstra, Robert C.  Estimating the effects of trade policy.
             62p.                                                       
     5054   Feldstein, Martin.  Social security and saving: new time    
            series evidence.  19p.                                      
     5055   Feldstein, Martin.  Tax avoidance and the deadweight loss of
            the income tax.  41p.                                       
     5064   Fischer, Stanley.  Modern approaches to central banking.    
            72p.                                                        
     5071   Glower, Michel, Haurin, Donald R. & Hendershott, Patric H.  
            Selling price and selling time: the impact of seller        
            motivation.  31p.                                           
     5067   Griliches, Zvi & Mairesse, Jacques.  Production functions:  
            the search for identification.  39p.                        
     5053   Gruber, Jonathan.  The incidence of payroll taxation:       
            evidence from Chile.  33p.                                  
     5062   Hansen, Wendy L. & Prusa, Thonmas J.  Cumulation and        
            International Trade Commission decision making: the sum of  
            the parts is greater than the whole.  41p.                  
     5070   Haurin, Donald R., Wachter, Susan M. & Hendershott, Patric  
            H.  Wealth accumulation and housing choices of young        
            households: an exploratory investigation.  49p.             
     5069   Hendershott, Patric H. & LaFayette, William C.  Debt usage  
            and mortgage choice: sensitivity to default insurance costs.
             45p.                                                       
     5068   Henderson, Rebecca, Jaffe, Adam B. & Trajtenberg, Manuel.   
            Universities as a source of commercial technology: a        
            detailed analysis of university patenting 1965-1988.  39p.  
     5074   LaFayette, William C., Haurin, Donald R. & Hendershott,     
            Patric H.  Endogenous mortgage choice, borrowing constraints
            and the tenure decision.  33p.                              
     5060   Lee, Jong-Wha.  Government interventions and productivity   
            growth in Korean manufacturing industries.  38p.            
     5066   Levine, Philip B., Trainor, Amy B. & Zimmerman, David J.    
            The effect of Medicaid abortion funding restrictions on     
            abortions, pregnancies, and births.  40p.                   
     5075   McCallum, Bennett T.  Two fallacies concerning central bank 
            independence.  13p.                                         
     5059   Mamuneas, Theofanis P. & Nadiri, M. Ishaq.  Public R & D    
            policies and cost behavior of the U.S. manufacturing        
            industries.  49p.                                           
     5076   Murnane, Richard J., Willett, John B. & Levy, Frank.  The   
            growing importance of cognitive skills in wage              
            determination.  46p.                                        
     5065   Ruhm, Christopher J. & Teague, Jackqueline L.  Parental     
            leave policies in Europe and North America.  33p.           
     5091   Abel, Andrew B. & Eberly, Janice C.  Optimal investment with
            costly reversibility.  52p.                                 
     5077   Abowd, John M., Kramarz, Francis & Moreau, Antoine.  Product
            quality and worker quality.  27p.                           
     5102   Aitken, Brian, Harrison, Ann & Lipsey, Robert E.  Wages and 
            foreign ownership: a comparative study of Mexico, Venezuela 
            and the United States.  32p.                                
     5089   Auerbach, Alan J., et al.  The annuitization of Americans'  
            resources: a cohort analysis.  44p.                         



                                                           PAGE  82

     5085   Borenstein, Severin.  Settling for coupons: discount        
            contracts as compensation and punishment in antitrust       
            laswuits.  42p.                                             
     5087   Buiter, Willem H.  Generational accounts, aggregate saving  
            and intergenerational distribution.  39p.                   
     5106   Cramton, Peter C. & Tracy, Joseph S.  The use of replacement
            workers in union contract negotiations: the U.S. experience,
            1980-1989.  20p.                                            
     5105   Cramton, Peter C., Gunderson, Morley & Tracy, Joseph S.  The
            effect of collective bargaining legislation on strikes and  
            wages.  20p.                                                
     5082   Cutler, David M. & Gruber, Jonathan.  Does public insurance 
            crowd out private insurance?.  46p.                         
     5104   Diewert, W. Erwin.  Axiomatic and economic approaches to    
            elementary price indexes.  60p.                             
     5103   Diewert, W. Erwin.  Price and volume measures in the system 
            of national accounts.  63p.                                 
     5093   DiNardo, John, Fortin, Nicole M. & Lemieux, Thomas.  Labor  
            market institutions and the distribution of wages,          
            1973-1992: a semiparametric approach.  62p.                 
     5097   Edwards, Sebastian.  Why are saving rates so different      
            across countries?: an international comparative analysis.   
            46p.                                                        
     5090   Fehr, Hams & Kotlikoff, Laurence J.  Generational accounting
            in general equilibrium.  41p.                               
     5088   Gentry, William M. & Hagy, Alison P.  The distributional    
            effects of the tax treatment of child care expenses.  45p.  
     5081   Gordon, Robert J.  Is there a tradeofff between unemployment
            and productivity growth?.  68p.                             
     5100   Gorton, Gary & Rosen, Richard.  Banks and derivatives.  47p.
     5079   Hubbard, R. Glenn & Palia, Darius.  Benefits of control,    
            managerial ownership, and the stock returns of acquiring    
            firms.  24p.                                                
     5083   Kiyotaki, Nobuhiro & Moore, John.  Credit cycles.  56p.     
     5084   Krueger, Anne O.  Free trade agreements versus customs      
            unions.  29p.                                               
     5098   Krugman, Paul & Venables, Anthony J.  Globalization and the 
            inequality of nations.  43p.                                
     5099   McGarry, Kathleen & Schoeni, Robert F.  Transfer behavior   
            within the family: results from the Asset and Health        
            Dynamics Survey.  22p.                                      
     5086   Mendoza, Enrique G. & Tesar, Linda L.  Supply-side economics
            in a global economy.  58p.                                  
     5096   Merton, Robert C.  Financial innovation and the management  
            and regulation of financial institutions.  46p.             
     5080   Mishkin, Frederic S. & Simon, John.  An empirical           
            examination of the Fisher effect in Australia.  23p.        
     5092   Neumark, David & Wascher, William.  The effects of minimum  
            wages on teenage employment and enrollment: evidence from   
            matched CPS survey.  49p.                                   
     5094   Richardson, J. David & Smith, Pamela J.  Sectoral growth    
            across U.S. states: factor content, linkages, and trade.    
            49p.                                                        
     5095   Shiller, Robert J. & Athanasoulis, Stefano.  World income   
            components: measuring and exploiting international risk     
            sharing opportunities.  62p.                                


                                                           PAGE  83

     5101   Stein, Jeremy C.  Internal capital markets and the          
            competition for corporate resources.  41p.                  
     5134   Alm, James, Erard, Brian & Feinstein, Jonathan S.  The      
            relationship between state and federal tax audits.  42p.    
     5126   Attanasio, Orazio P. & Hoynes, Hilary W.  Differential      
            mortality and wealth accumulation.  45p.                    
     5136   Barberis, Nicholas, et al.  How does privatization work?:   
            evidence from the Russian shops.  37p.                      
     5107   Bartel, ANn P. & Sicherman, Nachum.  Technological change   
            and the skill acquisition of young workers.  61p.           
     5115   Bayoumi, Tamim & Klein, Michael W.  A provincial view of    
            capital mobility.  33p.                                     
     5116   Beede, David N. & Bloom, David E.  Economics of the         
            generation and management of municipal solid waste.  96p.   
     5146   Bernanke, Ben S. & Gertler, Mark.  Inside the black box: the
            credit channel of monetary policy transmission.  45p.       
     5148   Bloom, David E. & Mahal, Ajay S.  Does the AIDS epidemic    
            really threaten economic growth?.  35p.                     
     5144   Boozer, Michael & Rouse, Ceclia.  Intraschool variation in  
            class size: patterns and implications.  34p.                
     5117   Bovenberg, A. Lans & Goulder, Lawrence H.  Costs of         
            environmentally motivated taxes in the presence of other    
            taxes: general equilibrium analyses.  43p.                  
     5138   Brown, Kenneth H. & Greenstein, Shane M.  How much better is
            bigger, faster and cheaper?: buyer benefits from innovation 
            in mainframe computers in the 1980s.  77p.                  
     5120   Buiter, Willem H. & Kletzer, Kenneth M.  Capital mobility,  
            fiscal policy and growth under self-financing of human      
            capital formation.  43p.                                    
     5140   Buiter, Willem H., Corsetti, Giancarlo & Pesenti, Paolo A.  
            A center periphery model of monetary coordination and       
            exchange rate crises.  42p.                                 
     5125   Burnside, Craig, Eichenbaum, Martin & Rebelo, Sergio.       
            Capital utilization and returns to scale.  51p.             
     5139   Campa, Jose & Goldberg, Linda S.  Investment, pass-through  
            and exchange rates: a cross-country comparison.  40p.       
     5130   Cooper, Russell & Ejarque, Joao.  Financial intermediation  
            and the Great Depression: a multiple equilibrium            
            interpretation.  50p.                                       
     5133   Davis, Steven J. & Haltiwanger, John.  Measuring gross      
            worker and job flows.  50p.                                 
     5137   Dickens, William T.  Do labor rents justify strategic trade 
            and industrial policy?.  44p.                               
     5122   Feenstra, Robert C. & Hanson, Gordon H.  Foreign direct     
            investment and relative wages: evidence from Mexico's       
            maquiladoras.  39p.                                         
     5121   Feenstra, Robert C. & Hanson, Gordon H.  Foreign investment,
            outsourcing and relative wages.  51p.                       
     5141   Friedman, Benjamin M.  Economic implications of changing    
            share ownership.  27p.                                      
     5132   Froot, Kenneth A., Kim, Michaelk & Rogoff, Kenneth.  The law
            of one price over 700 years.  62p.                          
     5109   Grossman, Herschel I.  American fiscal policy in the 1990s. 
            10p.                                                        




                                                           PAGE  84

     5147   Gruber, Jonathan & Poterba, James.  Tax subsidies to        
            employer-provided health insurance.  56p.                   
     5110   Hanson, Gordon H. & Harrison, Ann.  Trade, technology, and  
            wage inequality.  46p.                                      
     5118   Henderson, Vernon.  Effects of air quality regulation.  49p.
     5111   Kane, Edward J.  What is the value-added for large U.S.     
            banks in offering mutual funds?.  17p.                      
     5114   Leamer, Edward E. & Lundberg, Per.  A Heckscher-Ohlin view  
            of Sweden competing in the global marketplace.  84p.        
     5119   Levitt, Steven D.  The effect of prison population size on  
            crime rates: evidence from prison overcrowding litigation.  
            39p.                                                        
     5113   Lopez-de-Silanes, Florencio, Shleifer, Andrei & Vishny,     
            Robert W.  Privatization in the United States.  37p.        
     5123   Mullahy, John & Sindelar, Jody L.  Employment, unemployment,
            and problem drinking.  57p.                                 
     5143   Myers, Stewart C. & Rajan, Raghuram G.  The paradox of      
            liquidity.  43p.                                            
     5124   Neal, Derek A. & Johnson, William R.  The role of pre-market
            factors in black-white wage differences.  49p.              
     5112   O'Rourke, Kevin & Williamson, Jeffrey G.  Open economy      
            forces and late 19th century Scandinavian catch-up.  50p.   
     5135   Razin, Assaf & Yuen, Chi-Wa.  Factor mobility and income    
            growth: two convergence hypotheses.  32p.                   
     5142   Sachs, Jeffrey, Tornell, Aaron & Velasco, Andres.  The      
            collapse of the Mexican peso: what have we learned?.  55p.  
     5108   Tornell, Aaron & Velasco, Andres.  Fixed versus flexible    
            exchange rates: which provides more fiscal discipline?.     
            35p.                                                        
     5127   Tyler, John, Murnane, Richard J. & Levy, Frank.  Are lots of
            college graduates taking high school jobs?: a               
            reconsideration of the evidence.  29p.                      
     5180   Archer, Wayne, Ling, David C. & McGill, Gary A.  The effect 
            of income and collateral constraints on residential mortgage
            terminations.  39p.                                         
     5168   Bagwell, Kyle & Staiger, Robert W.  Protection and the      
            business cycle.  43p.                                       
     5151   Barro, Robert J. & Sala-i-Martin, Xavier.  Technological    
            diffusion, convergence, and growth.  43p.                   
     5175   Baxter, Marianne, Jermann, Urban J. & King, Robert G.       
            Nontraded goods, nontraded factors, and international       
            non-diversification.  26p.                                  
     5145   Bernanke, Ben S. & Mihov, Ilian.  Measuring monetary policy.
             64p.                                                       
     5177   Blackley, Dixie M. & Follain, James R.  In search of        
            empirical evidence that links rent and user cost.  35p.     
     5174   Bloom, David E. & Noor, Wassem.  Is an integrated regional  
            labor market emerging in East and Southeast Asia?.  34p.    
     5159   Bound, John, Schoenbaum, Michael & Waidmann, Timothy.  Race 
            and education differences in disability status and labor    
            force attachment.  64p.                                     
     5173   Bryan, Michael F. & Cecchetti, Stephen G.  The seasonality  
            of consumer prices.  22p.                                   
     5179   Capozza, Dennis R. & Seguin, Paul J.  Expectations,         
            efficiency, and euphoria in the housing market.  29p.       



                                                           PAGE  85

     5161   Cecchetti, Stephen G.  Inflation indicators and inflation   
            policy.  33p.                                               
     5181   Chan, Swein.  Residential mobility and mortgages.  39p.     
     5154   Cochrane, John H.  Identifying the output effects of        
            monetary policy.  22p.                                      
     5163   Cutler, David M. & Glaeser, Edward L.  Are ghettos good or  
            bad?.  68p.                                                 
     5169   Daly, Mary C. & Bound, John.  Worker adaptation and employer
            accomodation following the onset of a health impairment.    
            37p.                                                        
     5162   Eberts, Randall W. & Montgomery, Edward.  Cyclical versus   
            secular movements in employment creation and destruction.   
            43p.                                                        
     5150   Ehrenberg, Ronald G., Pieper, Paul J. & Willis, Rachel A.   
            Would reducing tenure probabilities increase faculty        
            salaries?.  30p.                                            
     5158   Eissa, Nada & Liebman, Jeffrey B.  Labor supply response to 
            the earned income tax credit.  57p.                         
     5155   Feldstein, Martin & Feenberg, Daniel.  The taxation of two  
            earner families.  55p.                                      
     5156   Frankel, Jeffrey A. & Okungwu, Chudozie.  Liberalized       
            portfolio capital inflows in emerging markets:              
            sterilization, expectations, and the incompleteness of i.   
            45p.                                                        
     5176   Green, Richard K.  Should the stagnant homeownership rate be
            a source of concern?.  55p.                                 
     5178   Grenandier, Steven R. & Hall, Brian J.  Risk-based capital  
            standards and the riskiness of bank portfolios: credit and  
            factor risks.  40p.                                         
     5149   Hoynes, Hilary W.  Does welfare play any role in female     
            headship decisions?.  49p.                                  
     5170   Irwin, Douglas A.  Industry or class cleavages over trade   
            policy?: evidence from the British general election of 1923.
             33p.                                                       
     5164   Kane, Thomas J.  Rising public college tuition and college  
            entry: how well do public subsidies promote access to       
            college?.  43p.                                             
     5166   Kang, Jun-Koo & Stulz, Rene M.  Why is there a home bias?:  
            an analysis of foreign portfolio equity ownership in Japan. 
            43p.                                                        
     5165   Lang, Larry, Ofek, Eli & Stulz, Rene M.  Leverage,          
            investment, and firm growth.  35p.                          
     5157   Magat, Wesley A. & Moore, Michael J.  Consumer product      
            safety regulation in the United States and the United       
            Kingdom: the case of bicycles.  35p.                        
     5153   Moore, Michael J.  Death and tobacco taxes.  22p.           
     5152   Moore, Michael J. & Cook, Philip J.  Habit and heterogeneity
            in the youthful demand for alcohol.  40p.                   
     5160   Rodrik, Dani.  Why is there multilateral lending?.  49p.    
     5171   Samwick, Andrew A.  Tax shelters and passive losses after   
            the Tax Reform Act of 1986.  48p.                           
     5172   Wang, Jiang.  The term structure of interest rates in a pure
            exchange economy with heterogeneous investors.  40p.        
     5214   Alesina, Alberto & Perotti, Roberto.  Fiscal expansion and  
            fiscal adjustments in OECD countries.  38p.                 



                                                           PAGE  86

     5201   Anderson, Patricia M. & Meyer, Bruce D.  The incidence of a 
            firm-varying payroll tax: the case of unemployment          
            insurance.  33p.                                            
     5192   Angrist, Joshua D.  Using social security data on military  
            applicants to estimate the effect of voluntary military     
            service on earnings.  50p.                                  
     5189   Auerbach, Alan J., Hassett, Kevin & Soderstern, Jan.        
            Taxation and corporate investment: the impact of the 1991   
            Swedish tax reform.  36p.                                   
     5213   Barsky, Robert B., et al.  Preference parameters and        
            behavioral heterogeneity: an experimental approach in the   
            health and retirement survey.  67p.                         
     5206   Bohn, James & Hall, Brian J.  Property and casualty solvency
            funds as a tax and social insurance system.  48p.           
     5209   Bruno, Michael & Easterly, William.  Inflation crises and   
            long-run growth.  47p.                                      
     5198   Caballero, Ricardo J. & Hammour, Mohamad L.  On the ills of 
            adjustment.  34p.                                           
     5222   Carliner, Geoffrey.  The language ability of U.S.           
            immigrants: assimilation and cohort effects.  33p.          
     5194   Carroll, Christopher D. & Samwick, Andrew A.  How important 
            is precautionary saving?.  55p.                             
     5193   Carroll, Christopher D. & Samwick, Andrew A.  The nature of 
            precautionary wealth.  57p.                                 
     5182   Case, Karl E. & Mayer, Christopher J.  Housing price        
            dynamics within a metropolitan area.  30p.                  
     5184   Deng, Yongheng, Quigley, John M. & Van Order, Robert.       
            Mortgage default and low downpayment loans: the costs of    
            public subsidy.  32p.                                       
     5216   Dow, William H., et al.  Disease complementarities and the  
            evaluation of public health interventions.  38p.            
     5207   Eaton, Jonathan & Kortum, Samuel.  Engines of growth:       
            domestic and foreign sources of innovation.  39p.           
     5210   Economides, Nicholas, Hubbard, R. Glenn & Palia, Darius.    
            The political economy of branching restrictions and deposit 
            insurance: a model of monopolistic competition among sm.    
            39p.                                                        
     5183   Engelhardt, Gary V.  House prices and home owner saving     
            behavior.  36p.                                             
     5186   Feenberg, Daniel & Miron, Jeffrey A.  Improving the         
            accessibility of the NBER's historical data.  16p.          
     5212   Friedman, Benjamin.  Does monetary policy affect real       
            economic activity?: why do we still ask this question?.     
            38p.                                                        
     5187   Goldberg, Linda & Tenorio, Rafael.  Strategic trading in a  
            two-sided foreign exchange auction.  35p.                   
     5226   Goldberg, Pinelopi K. & Knetter, Michael M.  Measuring the  
            intensity of competition in export markets.  37p.           
     5188   Goldin, Claudia.  Career and family: college women look to  
            the past.  51p.                                             
     5202   Goldin, Claudia & Katz, Lawrence F.  The decline of         
            non-competing groups: changes in the premium to education,  
            1890 to 1940.  55p.                                         
     5229   Gron, Anne & Lucas, Deborah.  External financing and        
            insurance cycles.  45p.                                     



                                                           PAGE  87

     5200   Grossman, Michael, Chaloupka, Frank J. & Sirtalan, Ismail.  
            An empirical analysis of alcohol addiction: results from    
            monitoring the future panels.  48p.                         
     5228   Gruber, Jonathan & Madrian, Brigitte C.  Non-employment and 
            health insurance coverage.  48p.                            
     5208   Hamermesh, Daniel S.  Who works when?: evidence from the    
            U.S. and Germany.  36p.                                     
     5221   Harrison, Ann.  Openness and growth: a time-series,         
            cross-country analysis for developing economies.  43p.      
     5185   Hatton, Timothy J. & Williamson, Jeffrey G.  The impact of  
            immigration on American labor markets prior to the quotas.  
            59p.                                                        
     5205   Jones, Larry E. & Manuelli, Rodolfo E.  A positive model of 
            growth and pollution controls.  60p.                        
     5220   Krugman, Paul & Venables, Anthony J.  The seamless world: a 
            spatial model of international specialization.  37p.        
     5203   Lewis, Karen K.  What can explain the apparent lack of      
            international consumption risk sharing?.  36p.              
     5190   Lumsdaine, Robin L., Stock, James H. & Wise, David A.  Why  
            are retirement rates so high at age 65?.  42p.              
     5191   Obstfeld, Maurice & Rogoff, Kenneth.  The mirage of fixed   
            exchange rates.  35p.                                       
     5196   Rauch, James E.  Choosing a dictator: bureaucracy and       
            welfare in less developed polities.  32p.                   
     5197   Rebelo, Sergio & Vegh, Carlos A.  Real effects of exchange  
            rate-based stabilization: an analysis of competing theories.
             59p.                                                       
     5219   Rose, Andrew K.  After the deluge: do fixed exchange rates  
            allow intertemporal volatility tradeoffs?.  16p.            
     5195   Ruhm, Christopher J.  Alcohol policies and highway vehicle  
            fatalities.  33p.                                           
     5167   Shleifer, Andrei & Vishny, Robert W.  The limits of         
            arbitrage.  25p.                                            
     5218   Slemrod, Joel.  High-income families and the tax changes of 
            the 1980s: the anatomy of behavioral response.  32p.        
     5217   Stein, Jeremy C.  An adverse selection model of bank asset &
            liability mgmt. with implications for the transmission of   
            monetary polic.  39p.                                       
     5204   Woodford, Michael.  Price level determinacy without control 
            of a monetary aggregate.  40p.                              
     5211   Young, Alwyn.  Growth without scale effects.  41p.          
     5199   Zucker, Lynne G., et al.  Collaboration structure &         
            information dilemmas in biotechnology: organizational       
            boundaries at trust production.  40p.                       
     5227   Abel, Andrew B., et al.  Options, the value of capital, and 
            investment.  41p.                                           
     5241   Aizenman, Joshua.  Capital markets integration, volatility  
            and persistence.  20p.                                      
     5261   Ando, Albert & Moro, Andrea.  Demographic dynamics, labor   
            force participation and household asset accumulation: the   
            case of Japan.  79p.                                        
     5263   Ball, Laurence & Mankiw, N. Gregory.  What do budget        
            deficits do?.  36p.                                         
     5262   Boldrin, Michele, Christiano, Lawrence J. & Fisher, Jonas   
            D.M.  Asset pricing lessons for modeling business cycles.   
            53p.                                                        


                                                           PAGE  88

     5246   Born, Patricia, et al.  Organizational form and insurance   
            company performance: stocks versus mutuals.  53p.           
     5269   Chari, V.V., Christiano, Lawrence J. & Eichenbaum, Martin.  
            Inside money, outside money and short term interest rates.  
            53p.                                                        
     5234   Chevalier, Judith A. & Ellison, Glenn D.  Risk taking by    
            mutual funds as a response to incentives.  53p.             
     5260   Cooper, Russell, Haltiwanger, John & Power, Laura.  Machine 
            replacement and the business cycle: lumps and bumps.  53p.  
     5242   Copeland, Brian R. & Taylor, M. Scott.  Trade, spatial      
            separation, and the environment.  40p.                      
     5273   Corman, Hope.  The effects of low birthweight and other     
            medical risk factors on resource utilization in the         
            pre-school years.  32p.                                     
     5232   Cummins, Jason C., Hassett, Kevin A. & Hubbard, R. Glenn.   
            Tax reforms and investment: a cross-country comparison.     
            45p.                                                        
     5240   Currie, Janet & Thomas, Duncan.  Race, children's cognitive 
            achievement and "The Bell Curve".  35p.                     
     5237   Davis, Steven J. & Henrekson, Magnus.  Industrial policy,   
            employer size, and economic performance in Sweden.  65p.    
     5233   Dow, James & Gorton, Gary.  Stock market efficiency and     
            economic efficiency: is there a connection?.  47p.          
     5252   Engen, Eric M. & Gruber, Jonathan.  Unemployment insurance  
            and precautionary saving.  50p.                             
     5279   Estrella, Arturo & Mishkin, Frederic S.  The term structure 
            of interest rates and its role in monetary policy for the   
            European central bank.  53p.                                
     5244   Gorton, Gary & Winton, Andrew.  Bank capital regulation in  
            general equilibrium.  45p.                                  
     5274   Heckman, James, Layne-Farrar, Anne & Todd, Petra.  Does     
            measured school quality really matter?: an examination of   
            the earnings quality relationship.  64p.                    
     5278   Helper, Susan.  Supplier relations and adoption of new      
            technology: results of survey research in the U.S. auto     
            industry.  29p.                                             
     5266   Hines, James R.  Forbidden payment: foreign bribery and     
            American business after 1977.  38p.                         
     5265   Hoxby, Caroline M.  Is there an equity-efficiency trade-off 
            in school finance?: Tiebout and a theory of the local public
            goods producer.  42p.                                       
     5245   Jaffee, Dwight M. & Russell, Thomas.  The causes and        
            consequences of rate regulation in the auto insurance       
            industry.  54p.                                             
     5236   Juhn, Chinhui & Kim, Dae Il.  The effects of rising female  
            labor supply on male wages.  33p.                           
     5257   Kaestner, Robert & Corman, Hope.  The impact of child health
            and family inputs on child cognitive development.  35p.     
     5267   Kaplan, Steven N. & Zingales, Luigi.  Do financing          
            constraints explain why investment is correlated with cash  
            flow?.  46p.                                                
     5230   Korenman, Sanders & Winship, Christopher.  A reanalysis of  
            "The Bell Curve".  47p.                                     
     5256   Kroszner, Randall S. & Rajan, Raghuram G.  Organization     
            structure and credibility: evidence from commercial bank    
            securities activities before the Glass-Steaga.  53p.        


                                                           PAGE  89

     5277   Kruse, Douglas & Blasi, Joseph.  Employee ownership,        
            employee attitudes, and firm performance.  52p.             
     5247   Lafontaine, Francine.  Pricing decisions in franchised      
            chains: a look at the restaurant and fast-food industry.    
            34p.                                                        
     5249   Lazear, Edward P.  Culture and language.  47p.              
     5264   Levine, Phillip B. & Zimmerman, David J.  An empirical      
            analysis of the welfare magnet debate using the NLSY.  32p. 
     5270   Levine, Phillip B., Gustafson, Tara A. & Velenchik, Ann D.  
            More bad news for smokers?: the effects of cigarette smoking
            on labor market outcomes.  25p.                             
     5268   Levitt, Steven D.  Why do increased arrest rates appear to  
            reduce crime?: deterrence, incapacitation, or measurement   
            error?.  41p.                                               
     5255   Lipsey, Robert E.  Trade and production networks of U.S.    
            multinational corporations and exports by their Asian       
            affiliates.  15p.                                           
     5223   Lumsdaine, Robin L.  Factors affecting labor supply         
            decisions and retirement income.  87p.                      
     5231   Lynch, Lisa M. & Black, Sandra E.  Beyond the incidence of  
            training: evidence from a national employers survey.  51p.  
     5250   McGarry, Kathleen.  Factors determining participation of the
            elderly in SSI.  33p.                                       
     5258   Miron, Jeffrey A. & Beaulieu, J. Joseph.  What have         
            macroeconomists learned about business cycles from the study
            of seasonal cycles?.  45p.                                  
     5271   Mitchell, Olivia S. & Carr, Roderick.  State and local      
            pension plans.  26p.                                        
     5224   Neumark, David & Wascher, William.  The effect of New       
            Jersey's minimum wage increase on fast-food employment: a   
            re- evaluation using payroll records.  36p.                 
     5239   Razin, Assaf & Yuen, Chi-Wa.  Can capital controls alter the
            inflation-unemployment trade off?.  18p.                    
     5238   Saffer, Henry & Chaloupka, Frank.  The demand for illicit   
            drugs.  20p.                                                
     5248   Salkever, David S. & Frank, Richard G.  Economic issues in  
            vaccine purchase arrangements.  42p.                        
     5254   Shiller, Robert J. & Schneider, Ryan.  Labor income indices 
            designed for use in contracts promoting income risk         
            management.  44p.                                           
     5253   Slaughter, Matthew J.  Multinational corporations,          
            outsourcing, and American wage divergence.  44p.            
     5275   Suponic, Susan J. & Tennyson, Sharon.  Rate regulation and  
            the industrial organization of automobile insurance.  43p.  
     5251   Svensson, Lars E.O.  Optimal inflation targets,             
            `conservative' central banks and linear inflation contracts.
             39p.                                                       
     5276   Taylor, Alan M.  Growth and convergence in the Asia-Pacific 
            region: on the role of openness, trade and migration.  43p. 
     5272   Wei, Shang-Jin & Frankel, Jeffrey A.  Open regionalism in a 
            world of continental trade blocs.  38p.                     
     5259   Williamson, Jeffrey G.  Globalization, convergence, and     
            history.  43p.                                              
     5243   Zucker, Lynne G. & Darby, Michael R.  Present at the        
            revolution: transformation of technical identity for a large
            incumbent pharmaceutical firm after the.  42p.              


                                                           PAGE  90

     5329   Atkeson, Andrew & Rios-Rull, Jose-Victor.  How Mexico lost  
            its foreign exchange reserves.  45p.                        
     5282   Attanasio, Orazio P.  Consumer durables and inertial        
            behavior: estimation and aggregation of (S,s) rules.  42p.  
     5326   Barro, Robert J.  Inflation and economic growth.  34p.      
     5327   Barro, Robert J.  Optimal debt management.  36p.            
     5323   Bartov, Eli, Bodnar, Gordon M. & Kaul, Aditya.  Exchange    
            rate variability and the riskiness of U.S. multinational    
            firms.  30p.                                                
     5283   Bayoumi, Tamim & Eichengreen, Barry.  Is regionalism simply 
            a diversion?: evidence from the evolution of the EC and     
            EFTA.  40p.                                                 
     5307   Bekaert, Geert & Harvey, Campbell R.  Emerging equity market
            volatility.  77p.                                           
     5308   Boone, Peter.  Politics and the effectiveness of foreign    
            aid.  56p.                                                  
     5290   Bradford, David F.  Consumption taxes: some fundamental     
            transition issues.  45p.                                    
     5291   Brock, William A. & Durlauf, Steven N.  Discrete choice with
            social interactions I: theory.  39p.                        
     5286   Burnside, Craig, Eichenbaum, Martin & Rebelo, Sergio.       
            Sectoral Solow residuals.  11p.                             
     5310   Cecchetti, Stephen G. & Kashyap, Anil K.  International     
            cycles.  40p.                                               
     5319   Chaloupka, Frank J. & Wechsler, Henry.  The impact of price,
            availibility, and alcohol control policies on binge drinking
            in college.  34p.                                           
     5324   Chen, Tai-Jy & Liu, Meng-chun.  Bilateral negotiations and  
            multilateral trade: the case of Taiwan-U.S. trade talks.    
            44p.                                                        
     5280   Chinn, Menzie & Dooley, Michael.  Asia-Pacific capital      
            markets: integration and implications for economic activity.
             40p.                                                       
     5292   Christiano, Lawrence J. & Fisher, Jonas.  Tobin's q and     
            asset returns: implications for business cycle analysis.    
            62p.                                                        
     5328   Costa, Dora L.  The political economy of state provided     
            health insurance in the progressive era: evidence from      
            California.  35p.                                           
     5296   Deaton, Angus & Paxson, Christina.  Measuring poverty among 
            the elderly.  50p.                                          
     5316   Dick, Andrew W. & Edlin, Aaron S.  The implicit taxes from  
            college financial aid.  36p.                                
     5297   Dwyer, Debra S., et al.  Evaluating mental health capitation
            treatment: lessons from panel data.  27p.                   
     5299   Dynan, Karen E. & Rouse, Cecilia E.  The underepresentation 
            of women in economics: a study of undergraduate economic    
            students.  27p.                                             
     5312   Engel, Charles.  The forward discount anomaly and the risk  
            premium: a survey of recent evidence.  11p.                 
     5281   Feldstein, Martin.  Would privatizing social security raise 
            economic welfare?.  27p.                                    
     5318   Flood, Robert P., Garber, Peter M. & Kramer, Charles.       
            Collapsing exchange rate regimes: another linear example.   
            23p.                                                        



                                                           PAGE  91

     5306   Frank, Richard G. & Salkever, David S.  Generic entry and   
            the pricing of pharmaceuticals.  23p.                       
     5314   Genesove, David & Mullin, Wallace P.  Validating the        
            conjectural variation method: the sugar industry, 1890-1914.
             48p.                                                       
     5332   Giavazzi, Francesco & Pagano, Marco.  Non-Keynesian effects 
            of fiscal policy changes: international evidence and the    
            Swedish experience.  46p.                                   
     5325   Goto, Junichi & Hamada, Koichi.  EU, NAFTA, and Asian       
            responses: a perspective from the calculus of participation.
             38p.                                                       
     5315   Hamermesh, Daniel S. & Slesnick, Daniel T.  Unemployment    
            insurance and household welfare: microeconomic evidence,    
            1980-93.  27p.                                              
     5225   Harrison, Ann & Revenga, Ana.  The effects of trade policy  
            reform: what do we really know?.  48p.                      
     5288   Heckman, James, Layne-Farrar, Anne & Todd, Petra.  The      
            schooling quality earnings relationship: using economic     
            theory to interpret functional forms consistent w/ evid.    
            63p.                                                        
     5309   Helpman, Elhanan.  Politics and trade policy.  34p.         
     5295   Holtz-Eakin, Douglas & Lovely, Mary E.  Scale economies,    
            returns to variety, and the productivity of public          
            infrastructure.  27p.                                       
     5333   Ichniowski, Casey, Shaw, Kathryn & Prennushi, Giovanna.  The
            effects of human resource management practices on           
            productivity.  52p.                                         
     5321   Jovanovic, Boyan & Nyarko, Yaw.  Research and productivity. 
            25p.                                                        
     5330   Kotlikoff, Laurence J.  Privatization of social security:   
            how it works and why it matters.  45p.                      
     5302   Krueger, Alan & Kruse, Douglas.  Labor market effects of    
            spinal cord injuries in the dawn of the computer age.  36p. 
     5284   Lamont, Owen.  Macroeconomic forecasts and microeconomic    
            forecasters.  35p.                                          
     5311   La Porta, Rafael, et al.  Good news for value stocks:       
            further evidence on market efficiency.  23p.                
     5334   Lazear, Edward P.  Hiring risky workers.  24p.              
     5289   Lewis, Karen K.  Stochastic regime switching and stabilizing
            policies within regimes.  32p.                              
     5320   Liebeskind, Julia P., et al.  Social networks, learning, and
            flexibility: sourcing scientific knowledge in new           
            biotechnology firms.  42p.                                  
     5331   Loeb, Susana & Bound, John.  The effect of measured school  
            inputs on academic achievement: evidence from the 1920s,    
            1930s, and 1940s birth cohor.  42p.                         
     5294   McClellan, Mark B. & Wise, David A.  Where the money goes:  
            medical expenditures in a large corporation.  47p.          
     5317   Milesi-Ferretti, Gian Maria & Roubini, Nouriel.  Growth     
            effects of income and consumption taxes: positive and       
            normative analysis.  40p.                                   
     5293   Mocan, H. Naci.  The child care industry: cost functions,   
            efficiency, and quality.  47p.                              
     5285   Obstfeld, Maurice.  Models of currency crises with          
            self-fulfilling features.  19p.                             



                                                           PAGE  92

     5301   Paxson, Christina.  Saving and growth: evidence from micro  
            data.  51p.                                                 
     5287   Poterba, James M., Venti, Steven F. & Wise, David A.  The   
            effects of special saving programs on saving and wealth.    
            49p.                                                        
     5298   Poterba, James M., Venti, Steven F. & Wise, David A.        
            Lump-sum distributions from retirement saving plans: receipt
            and utilization.  42p.                                      
     5313   Roubini, Nouriel & Grilli, Vittorio.  Liquidity models in   
            open economies: theory and empirical evidence.  15p.        
     5304   Shea, John.  Comovement in cities.  46p.                    
     5305   Shea, John.  Complementarities and comovements.  40p.       
     5303   Slaughter, Matthew J.  The antebellum transportation        
            revolution and factor price convergence.  51p.              
     5300   Tornell, Aaron & Velasco, Andres.  Money-based versus       
            exchange rate-based stabilization with endogenous fiscal    
            policy.  37p.                                               
     5322   Tornell, Aaron & Esquivel, Gerardo.  The political economy  
            of Mexico's entry into NAFTA.  49p.                         

     NATIONAL BUREAU OF ECONOMIC RESEARCH.  Technical Papers.           

     169    Diebold, Francis X. & Mariano, Roberto S.  Comparing        
            predictive accuracy.  33p.                                  
     119    Pakes, Ariel & McGuire, Paul.  Computing Markov perfect Nash
            equilibria: numerical implications of a dynamic             
            differentiated product model.  51p.                         
     171    Horvath, Michael T.K. & Watson, Mark W.  Testing for        
            cointegration when some of the cointegrating vectors are    
            known.  38p.                                                
     173    Diebold, Francis X. & Lopez, Jose A.  Modeling volatility   
            dynamics.  49p.                                             
     174    Diebold, Francis X., Ohanian, Lee E. & Berkowitz, Jeremy.   
            Dynamic equilibrium economies: a framework for comparing    
            models and data.  38p.                                      
     177    Christiano, Lawrence J. & den Haan, Wouter J.  Small sample 
            properties of GMM for business cycle analysis.  49p.        
     176    West, Kenneth D. & Wilcox, David W.  A comparison of        
            alternative instrumental variables estimators of a dynamic  
            linear model.  55p.                                         

     UNIVERSITY OF NEW ENGLAND (Australia).  Department of Econometrics.

     78     Zapata, Hector O. & Rambaldi, Alicia N.  Small sample       
            performance of non-causality tests in cointegrated systems. 
            16p.                                                        

     UNIVERSITY OF NEW SOUTH WALES.  School of Economics.               

     9429   Athey, Susan, et al.  The allocation of decisions in        
            organisations.  37p.                                        
     9426   Chapman, Bruce & Piggott, John.  Costing the job compact.   
            34p.                                                        
     9434   Conlon, Robert M. & Perkins, John A.  First the parts, then 
            the units, and ultimately the completed car: the tariff &   
            automobile production in Australia.  26p.                   


                                                           PAGE  93

     9427   Freedman, Craig & Kriesler, Peter.  Has the long run        
            Phillips curve turned horizontal?.  24p.                    
     9428   Gans, Joshua S.  Engendering change.  34p.                  
     9433   Gans, Joshua S.  Limited information, the possibility of    
            rational choice and the contingent valuation method.  17p.  
     9430   Kemp, Murray, Van Long, Ngo & Shimomura, Koji.  High youth  
            wages can generate cyclical and general unemployment.  17p. 
     9425   Monadjemi, Mehdi S.  Private and public spending: some      
            Australian evidence.  12p.                                  
     9432   Oxley, Deborah.  Selected for exile?: profiles of convict   
            women transported to New South Wales, 1826-40.  21p.        
     9431   Wan, Alan T.K & Yang, Minxian.  On the use of the F ratio in
            a misspecified model with an interval restriction.  14p.    
     95-8   Crosby, Mark.  Monetary factors in the great depression in  
            Australia.  19p.                                            
     9511   Fox, Kevin.  Data set construction, specification of        
            functional form and the estimation of technical progress.   
            47p.                                                        
     95-9   Gans, Joshua S.  Industrialization policy and the big push. 
            34p.                                                        
     95-1   Gans, Joshua S. & Smart, Michael.  Majority voting with     
            single-crossing perferences.  22p.                          
     9513   Kakwani, Nanak C.  Minimum consumption basket and poverty in
            Belarus.  49p.                                              
     9512   Kakwani, Nanak.  Structural adjustment and performance in   
            living standards in developing countries.  39p.             
     95-3   Kakwani, Nanak C. & Lambert, Peter J.  Vertical equity and  
            horizontal inequality: a new approach to measurement.  14p. 
     95-4   Kakwani, Nanak C., Wagstaff, Adam & van Doorslaer, Eddy.    
            Socioeconomic inequalities in health: measurement,          
            computation, and statistical inference.  17p.               
     9510   Kingston, Geoffrey.  The foreign currency loans affair: an  
            economist's perspective.  32p.                              
     95-2   Leeves, Gareth D.  Recent evidence on the cyclical          
            properties of Australian gross flows of labour.  21p.       
     95-7   Milbourne, Ross.  Economic growth and convergence in open   
            economies.  20p.                                            
     9514   Monadjemi, Mehdi.  Empirical evidence on public expenditure 
            and private investment: a study of Australia and the United 
            States.  20p.                                               
     95-6   Podder, Nripesh.  On the relationship between the Gini      
            coefficient and income elasticity.  6p.                     
     95-5   Yang, Minxian.  On identifying permanent and transitory     
            shocks in VAR models.  9p.                                  
     9516   Ablett, John.  Intergenerational accounting and saving in   
            Australia.  30p.                                            
     9518   Alaouze, Chris.  A short run economic analysis of the       
            eutrophication problem of the Barwon and Darling Rivers in  
            New South Wales.  40p.                                      
     9517   Bateman, Hazel.  Risk management issues for mandatory       
            private retirement provision: roles for options.  43p.      
     9527   Conlon, Robert & Perkins, John.  The state and the motor    
            vehicle industry in interwar Australia.  24p.               
     9519   Fox, Kevin & Grafton, R. Quentin.  Non-parametric estimation
            of returns to scale.  34p.                                  



                                                           PAGE  94

     9520   Gans, Joshua S.  Comparative statics made simple: an        
            introduction to recent advances.  18p.                      
     9525   Gans, Joshua.  Inside the black box: a look at the          
            container.  22p.                                            
     9522   Kakwani, Nanak.  Economic growth, poverty, and government   
            income support programmes with application to Australia.    
            48p.                                                        
     9515   Monadjemi, Mehdi.  Stock market integration: some           
            international evidence.  23p.                               
     9523   Otto, Glen.  Terms of trade shocks and the Australian       
            economy.  33p.                                              
     9529   Stonecash, Robin.  Imperfectly competitive general          
            equilibria and the choice of price normalization.  8p.      
     9526   Wan, Alan.  The exact density and distribution functions of 
            the inequality constrained and pre-test estimators.  18p.   
     9521   Wan, Alan T.K. & Griffiths, William E.  Bayesian estimation 
            of the linear regression model with an uncertainty interval 
            constraint on coefficients.  11p.                           
     9524   Yang, Minxian.  Economic growth and risk in R & D.  25p.    
     9535   Bostic, Raphael W., Gans, Joshua S. & Stern, Scott.  Urban  
            productivity and factor growth in the late 19th century.    
            28p.                                                        
     9530   Fisher, Lance.  Sources of exchange rate & price level      
            fluctuations in two commodity exporting countries:          
            Australian & New Zealand.  28p.                             
     9536   Gans, Joshua S.  Industrialisation with a menu of           
            technologies: appropriate technologies and the "big push".  
            19p.                                                        
     9533   Hill, Robert J.  A taxonomy of multilateral methods for     
            making international comparisons.  28p.                     
     9531   Insel, Aysu.  The relationship between the inflation rate   
            and money financed deficit in Turkey, 1977-1993.  28p.      
     9534   Meredith, David.  The role of education and health services 
            in the economic development of Australia and Argentina,     
            1880-1940.  42p.                                            
     9532   Yang, Minxian & Bewley, Ronald.  On cointegration tests for 
            VAR models with drift.  8p.                                 
     9509   Economides, Nicholas.  The incentive of a multiproduct      
            monopolist to provide all goods.  5p.                       
     9528   Fox, Kevin.  Model selection criteria: a reference source.  
            32p.                                                        
     9537   Halevi, Joseph & Kriesler, Peter.  Marx or Hicks?:          
            structural proportions and crisis: the transition from the  
            1st to the 3rd volumes of "Capital".  14p.                  
     9540   Hill, Robert.  Chained PPPs and minimum spanning trees.     
            22p.                                                        
     9541   Hill, Robert.  International comparisons, additive PPPs and 
            the Gerschenkron effect.  20p.                              
     9538   Hill, Robert & Fox, Kevin.  Splicing index numbers.  6p.    
     9539   Kriesler, Peter.  Keynes, Kalecki and the "General Theory". 
            30p.                                                        

     NEW YORK UNIVERSITY.  Center for Applied Economics.                

     9427   Benoit, Jean-Pierre.  Color blind is not color-neutral:     
            disadvantage and affirmative action.  21p.                  


                                                           PAGE  95

     9424   Bernanke, Ben, Gertler, Mark & Gilchrist, Simon.  The       
            financial accelerator and the flight to quality.  52p.      
     9430   Brams, Steven J., Taylor, Alan D. & Zwicker, William S.  Old
            and new moving kinfe schemes.  18p.                         
     9431   Dargay, Joyce & Gately, Dermot.  The response of world      
            energy and oil demand to income growth and changes in oil   
            prices.  36p.                                               
     9428   Fishburn, Peter C. & Brams, Steven J.  Minimal winning      
            coalitions in weighted majority voting games.  31p.         
     9423   Goldberg, Linda S. & Kolstad, Charles D.  Foreign direct    
            investment, exchange rate variability and demand            
            uncertainty.  26p.                                          
     9429   Gomory, Ralph E. & Baumol, William J.  Shares of world      
            output, economies of scale, and regions filled with         
            equilibria.  49p.                                           
     9425   Jovanovic, Boyan & Nyarko, Yaw.  The transfer of human      
            capital.  41p.                                              
     9426   Nadiri, M. Ishaq & Mamuneas, Theofanis P.  Infrastructure   
            and public R & D investments, and the growth of factor      
            productivity in U.S. manufacturing industries.  23p.        
     9502   Benhabib, Jess & Farmer, Roger E.A.  Indeterminacy and      
            sector-specific externalities.  25p.                        
     9508   Benhabib, Jess & Gali, Jordi.  On growth and indeterminacy: 
            some theory and evidence.  71p.                             
     9501   Brams, Steve J., Taylor, Alan D. & Zwicker, William S.  A   
            moving-knife solution to the four-person envy-free          
            cake-division problem.  16p.                                
     9509   Gali, Jordi.  Product diversity, endogenous markups, and    
            development traps.  33p.                                    
     9505   Goldberg, Linda & Tenorio, Rafael.  Strategic behavior in   
            two-sided foreign exchange auctions.  35p.                  
     9504   Ramsey, James B.  If nonlinear models cannot forecast, what 
            use are they?.  30p.                                        
     9503   Ramsey, James B. & Zhang, Zhifeng.  The analysis of foreign 
            exchange data using waveform dictionaries.  22p.            
     9507   Rogoff, Kenneth.  What remains of purchasing power parity?. 
            34p.                                                        
     9506   Tornell, Aaron & Velasco, Andres.  Fixed versus flexible    
            exchange rates: which provides more fiscal discipline?.     
            35p.                                                        
     9515   Bernanke, Ben & Gertler, Mark.  Inside the black box: the   
            credit channel of monetary policy transmission.  45p.       
     9510   Brams, Steven J., Kilgour, D. Marc & Zwicker, William S.    
            How should voting on related propositions be conducted?.    
            34p.                                                        
     9511   Brams, Steven J.  Modelling free choice in games.  30p.     
     9514   Campa, Jose & Goldberg, Linda.  Investment, pass-through and
            exchange rates: a cross-country comparison.  40p.           
     9513   Froot, Kenneth A., Kim, Michael & Rogoff, Kenneth.  The law 
            of one price over 700 years.  72p.                          
     9512   Gali, Jordi.  Real business cycles with involuntary         
            unemployment.  35p.                                         
     9518   Baumol, William J. & Gomory, Ralph E.  N-product natural    
            monopoly as "natural cartel" -- on scale economies under    
            capital rationing.  23p.                                    



                                                           PAGE  96

     9523   Brams, Steven J.  Game theory and emotions.  47p.           
     9526   Brams, Steven J. & Taylor, Alan D.  Fair division and       
            politics.  21p.                                             
     9529   Cowan, R.A. & Rizzo, Mario J.  The genetic-causal tradition 
            and modern economic theory.  39p.                           
     9528   Cummins, Jason C., Hassett, Kevin A. & Hubbard, R. Glenn.   
            Tax reforms and investment: a cross-country comparison.     
            33p.                                                        
     9519   Gomory, Ralph E. & Baumol, William J.  Productivity         
            differences, world market shares and conflicting national   
            interests in linear trade models.  54p.                     
     9517   Gomory, Ralph E. & Baumol, William.  Regions of linear trade
            model equilibria and the conflicting interests of trading   
            partners.  37p.                                             
     9525   Mitra, Tapan & Ok, Efe A.  On the equitability of           
            progressive taxation.  17p.                                 
     9516   Prager, Jonas & Desai, Swati.  OMB's circular A-76 and its  
            implications for municipal contracting.  32p.               
     9524   Rizzo, Mario J.  Time and ignorance: after ten years.  30p. 
     9522   Sachs, Jeffrey, Tornell, Aaron & Velasco, Andres.  The      
            collapse of the Mexian peso: what have we learned?.  45p.   
     9521   Tornell, Aaron & Velasco, Andres.  Money-based versus       
            exchange rate-based stabilization with endogenous fiscal    
            policy.  38p.                                               
     9520   Tommasi, Mariano & Velasco, Andres.  Where are we in the    
            political economy of reform?.  20p.                         

     NEW YORK UNIVERSITY.  Salomon Brothers Center (Financial Inst).    

     9422   Ansari, Asim, Economides, Nicholas & Steckel, Joel.  The    
            max-min principle of product differentiation.  32p.         
     9425   Christensen, Bent J. & Prabhala, N.R.  On the dynamics and  
            information content of implied volatility: a bivariate time 
            series perspective.  43p.                                   
     9424   Economides, Nicholas.  The economics of networks.  36p.     
     9419   Economides, Nicholas.  Electronic call market trading.  22p.
     9418   Economides, Nicholas & White, Lawrence J.  One-way networks,
            two-way networks, compatibility, and antitrust.  26p.       
     9423   Economides, Nicholas.  Quality choice and vertical          
            integration.  15p.                                          
     9420   Economides, Nicholas & Heisler, Jeffrey.  Equilibrium fee   
            schedules in a monopolist call market.  30p.                
     9421   Economides, Nicholas & Lehr, William.  The quality of       
            complex systems and industry structure.  38p.               
     9417   White, Lawrence J.  Tying, banking, and antitrust: it's time
            for a change.  24p.                                         
     9431   Backus, David K., Foresi, Silverio & Zin, Stanley E.        
            Arbitrage opportunities in arbitrage-free models of bond    
            pricing.  37p.                                              
     9427   Bodie, Zvi.  What the Pension Benefit Guarantee Corporation 
            can learn from the Federal Savings and Loan Insurance       
            Corporation.  23p.                                          
     9428   Brown, Stephen J. & Goetzmann, William N.  Performance      
            persistence.  32p.                                          




                                                           PAGE  97

     9434   Chen, Yehning, Weston, J.F. & Altman, Edward I.  Financial  
            distress and restructuring models.  40p.                    
     9432   Franke, Gunter, Stapleton, Richard C. & Subrahmanyam, Marti 
            G.  The size of background risk and the theory of risk      
            bearing.  24p.                                              
     9433   Ho, T.S., Stapleton, Richard C. & Subrahmanyam, Marti G.    
            Correlation risk, cross market derivative products and      
            portfolio performance.  29p.                                
     95-1   John, Kose, Saunders, Anthony & Senbet, Lemma W.  A theory  
            of bank regulation and management compensation.  34p.       
     9430   Kim, Harold Y. & Mei, Jianping.  Political risk and stock   
            returns: the case of Hong Kong.  51p.                       
     9429   Mei, Jianping.  A BMWtv approach to the conditional         
            arbitrage pricing model.  36p.                              
     9426   Sametz, Arnold W.  Reconfiguring corporate governance       
            activity of private pension funds.  36p.                    
     95-6   Altman, Edward I. & Haldeman, Robert.  Corporate credit     
            scoring models: approaches and standards for successful     
            implementation.  28p.                                       
     95-3   Altman, Edward I. & Kishore, Vellore.  Report on defaults   
            and returns on high yield bonds: analysis through 1994.     
            27p.                                                        
     95-2   Altman, Edward I. & Simon, Bobe E.  Report on the investment
            performance of defaulted bonds for 1994 and 1987-1994.  18p.
     95-7   Altman, Edward I. & Bencivenga, Joseph C.  A yield premium  
            model for the high yield debt market.  28p.                 
     95-5   Berger, Allen N. & Udell, Gregory F.  Relationship lending  
            and lines of credit in small firm finance.  47p.            
     95-4   Fluck, Zsuzsanna.  The optimality of debt versus outside    
            equity.  32p.                                               
     95-9   Fluck, Zsuzsanna.  The predictability of stock returns: a   
            cross-sectional simulation.  23p.                           
     95-8   Jagtiani, Julapa.  Characteristics of banks that are more   
            active in the swap market.  15p.                            
     9510   Berger, Allen N. & Udell, Gregory F.  Universal banking and 
            the future of small business lending.  62p.                 
     9517   Chidambaran, N.K., Pugel, Thomas A. & Saunders, Anthony.    
            Performance of the U.S. property-casualty insurance         
            industry.  26p.                                             
     9515   Elton, Edwin J., Gruber, Martin J. & Blake, Christopher R.  
            Fundamental variables, APT, and bond fund performance.  36p.
     9513   Elton, Edwin J., Gruber, Martin J. & Blake, Christopher R.  
            The persistence of risk-adjusted mutual fund performance.   
            37p.                                                        
     9514   Elton, Edwin J., Gruber, Martin J. & Blake, Christopher R.  
            Survivorship bias and mutual fund performance.  37p.        
     9511   Evans, Martin D.D.  Peso problems: their theoretical and    
            empirical implications.  77p.                               
     9519   Giddy, Ian, Saunders, Anthony & Walter, Ingo.  European     
            financial market integration: clearance and settlement      
            issues.  55p.                                               
     9520   Saita, Francesco.  Payment process costs, innovation, and   
            the role of banks as payment intermediaries.  23p.          
     9516   Skinner, Frank S.  Alternate hedge for bonds subject to     
            credit risk.  27p.                                          



                                                           PAGE  98

     9512   Walter, Ingo.  Global competition and market access in the  
            securities industry.  105p.                                 
     9518   White, Lawrence J.  The NAIC model investment law: a missed 
            opportunity.  15p.                                          

     NEW YORK UNIVERSITY.  Stern School of Business.                    

     9424   Economides, Nicholas.  The economics of networks.  36p.     
     9423   Rousseau, Peter L.  Financial innovation, intermediation,   
            and long run growth.  39p.                                  
     9426   Stefanadis, Chris.  The economic role of the Japanese       
            intermarket Keiretsu.  28p.                                 
     9425   Yashiv, Eran.  Explaining the time path of unemployment: the
            differential role of growth, business cycles, search        
            intensity, and l.  64p.                                     
     9428   Backus, David K., Foresi, Silverio & Zin, Stanley E.        
            Arbitrage opportunities in arbitrage-free models of bond    
            pricing.  37p.                                              
     9501   Gilchrist, Simon & Himmelberg, Charles P.  Evidence on the  
            role of cash flow for investment.  36p.                     
     9502   Gilchrist, Simon & Himmelberg, Charles P.  Hypothesis       
            testing with two-step GMM estimators.  11p.                 
     9427   Udell, Gregory F. & Wachtel, Paul.  Financial system design 
            for formerly planned economies: defining the issues.  89p.  
     95-4   Economides, Nicholas & White, Lawrence J.  Access and       
            interconnection pricing: how efficient is the "efficient    
            component pricing rule?".  23p.                             
     9505   Evans, Martin D.D.  Peso problems: their theoretical and    
            empirical implications.  76p.                               
     9506   Greene, William H.  Sample selection in the Poisson         
            regression model.  12p.                                     
     9508   Economides, Nicholas & Schwartz, Robert A.  Equity trading  
            practices and market structure: assessing asset managers'   
            demand for immediacy.  59p.                                 
     9510   Economides, Nicholas & Wildman, Steven S.  Monopolistic     
            competition with two-part tariffs.  27p.                    
     9507   Stefanadis, Chris.  Can import protection become export     
            promotion?.  36p.                                           
     9514   Cumby, Robert E. & Evans, Martin D.D.  The term structure of
            credit risk: estimates and specification tests.  28p.       
     9512   Economides, Nicholas & Flyer, Frederick.  Technological     
            standards coalitions for network goods.  32p.               
     9513   Evans, Martin D.D.  Dividend variability and stock market   
            swings.  44p.                                               
     9517   Grilli, Vittorio & Roubini, Nouriel.  Liquidity and exchange
            rates: puzzling evidence from the G-7 countries.  44p.      
     9516   Grilli, Vittorio & Roubini, Nouriel.  Liquidity models in   
            open economies: theory and empirical evidence.  15p.        
     9503   Lopomo, Guiseppe.  Optimality and robustness of the English 
            auction.  43p.                                              
     9518   Milesi-Feretti, Gian Maria & Roubini, Nouriel.  Growth      
            effects of income and consumption taxes: positive and       
            normative analysis.  40p.                                   
     9515   Schein, Andrew.  The variance of wholesale and retail       
            prices: tests of a Marshallian hypothesis.  22p.            



                                                           PAGE  99


     UNIVERSITY OF NORTH CAROLINA.  Department of Economics.            

     9303   Froyen, Richard R. & Waud, Roger N.  Optimal seigniorage    
            versus interest rate smoothing.  29p.                       
     9302   Grifell-Tatje, E. & Lovell, C.A.K.  Deregulation and        
            productivity decline: the case of Spanish savings banks.    
            35p.                                                        
     9304   Grifell-Tatje, E. & Lovell, C.A.K.  A new decomposition of  
            the Malmquist productivity index.  21p.                     
     9401   Stearns, Sally C., Mroz, Thomas & Glick, Noah.  Evaluation  
            of state risk pools: the current and potential experience.  
            61p.                                                        
     9402   Hagiwara, May & Herce, Miguel A.  Exchange rate volatility, 
            trading volume and interest rate differential in a model of 
            portfolio selection.  29p.                                  
     9403   Hagiwara, May & Herce, Miguel A.  Risk aversion and stock   
            price sensitivity to dividends.  39p.                       
     9501   Wickham, Elizabeth D.  JRC equilibrium and intra industry   
            trade: another look at product differentiation.  35p.       

     NORTHWESTERN UNIVERSITY. Center for Math Studies in Econ & Mgmt Sci

     1118   Bagwell, Kyle & Staiger, Robert W.  Collusion over the      
            business cycle.  52p.                                       
     1115   Bagwell, Kyle, Ramey, Garey & Spulber, Daniel F.  Dynamic   
            retail price and investment competition.  32p.              
     1105   Cassiman, Bruno.  Research joint ventures and optimal R & D 
            policy with asymmetric information.  48p.                   
     1117   Feddersen, Timothy & Pesendorfer, Wolfgang.  Voting behavior
            and information aggregation in elections with private       
            information.  34p.                                          
     1114   Fudenberg, Drew, Levine, David & Pesendorfer, Wolfgang.     
            When are non-anonymous players negligible?.  26p.           
     1107   Gehrig, Thomas & Jackson, Matthew.  Bid-ask spreads with    
            indirect competition among specialists.  25p.               
     1110   Gilboa, Itzhak & Schmeidler, David.  Reaction to price      
            changes and aspiration level adjustments.  10p.             
     1108   Lehrer, Ehud & Sorin, Sylvain.  One-shot public mediated    
            talk.  16p.                                                 
     1109   Lehrer, Ehud & Sorin, Sylvain.  E-consistent equilibrium.   
            10p.                                                        
     1104   McAfee, R. Preston & Vincent, Daniel.  Sequentially optimal 
            auctions.  33p.                                             
     1106   Matsuyama, Kiminori.  Complementarities and cumulative      
            processes in models of monopolistic competition.  59p.      
     1112   Merlin, Vincent R. & Saari, Donald G.  Copeland method II:  
            manipulation, monotonicity, and paradoxes.  18p.            
     1111   Saari, Donald G. & Merlin, Vincent R.  The Copeland method  
            I: relationships and the dictionary.  23p.                  
     1113   Saari, Donald G.  The generic existence of a core for       
            q-rules.  31p.                                              
     1116   Wolinsky, Asher.  Regulation of duopoly: managed competition
            vs. regulated monopolies.  30p.                             




                                                           PAGE 100

     1119   Gamble, A.B. & Pazgal, A.I.  A linear programming framework 
            for network games.  27p.                                    
     1120   Lizzeri, Alessandro & Persico, Nicola.  Existence and       
            uniqueness of equilibrium in first price auction and war of 
            attrition with affiliated values.  24p.                     
     1122   Maruta, Toshimasa.  On the relationship betwen              
            risk-dominance and stochastic stability.  20p.              
     1123   Matsuyama, Kiminori.  Economic development as coordination  
            problems.  32p.                                             
     1124   Matsuyama, Kiminori.  New goods, market formations, and     
            pitfalls of system design.  29p.                            
     1096   Matthews, Steven A.  A technical primer on auction theory I:
            independence private values.  49p.                          
     1121   Reiter, Stanley.  Coordination of the structure of firms.   
            140p.                                                       
     1125   Aragones, Enriqueta.  Negativity effect and the emergence of
            ideologies.  21p.                                           
     1128   Asheim, Geir B.  Individual and collective time-consistency.
             24p.                                                       
     1129   Asheim, Geir B. & Dufwenberg, Martin.  Rational reasoning   
            and rationalizable sets.  30p.                              
     1131   Bagwell, Kyle & Ramey, Garey.  Capacity, entry and forward  
            induction.  47p.                                            
     1130   Bagwell, Kyle & Staiger, Robert W.  Protection and the      
            business cycle.  43p.                                       
     1134   Diermeier, Daniel & Myerson, Roger B.  Lobbying and         
            incentives for legislative organization.  39p.              
     1127   Gilboa, Itzhak & Schmeidler, David.  Case-based knowledge   
            and planning.  39p.                                         
     1133   Myerson, Roger B.  Dual reduction and elementary games.     
            29p.                                                        
     1126   Pazgal, Amit.  Satisficing leads to cooperation in mutual   
            interests games.  20p.                                      
     1132   Saari, Donald G.  Connecting and resolving Sen's and Arrow's
            theorems.  14p.                                             

     NORWEGIAN SCHOOL OF ECONOMICS & BUSINESS ADMINISTRATION.           

     14/94  Tungodden, Bertil.  The concept of poverty and normative    
            reasoning.  41p.                                            
     16/94  Tungodden, Bertil.  The distribution problem and Rawlsian   
            reasoning.  24p.                                            
     17/94  Tungodden, Bertil.  On subgroup consistency in poverty      
            measurement.  14p.                                          
     15/94  Tungodden, Bertil.  Rationality, value, and well-being.     
            25p.                                                        
     20/94  Bardsen, Gunnar, Fisher, Paul G. & Nymoen, Ragnar.  Business
            cycles: real facts or fallacies?.  22p.                     
     19/94  Gabrielsen, Tommy S. & Sorgard, Lars.  Vertical restraints  
            and interbrand competition.  29p.                           
     18/94  Osmundsen, Petter.  Dynamic taxation of nonrenewable natural
            resources: asymmetric information about reserves.  29p.     
     1/95   Osmundsen, Petter.  Repeated auctions of extraction rights. 
            31p.                                                        




                                                           PAGE 101

     21/94  Thogersen, Oystein.  Economic policy, macroeconomic         
            performance and the Norwegian petroleum wealth: a survey.   
            44p.                                                        
     22/94  Thogersen, Oystein.  Fiscal policy, structural adjustment   
            and intergenerational welfare.  28p.                        
     3/95   Hakonsen, Lars & Mathiesen, Lars.  Towards a more           
            comprehensive cost measure for CO2 reductions.  34p.        
     2/95   Kristiansen, Eirik G.  R & D in markets with network        
            externalities.  29p.                                        
     4/95   Nilssen, Tore & Sorgard, Lars.  Sequential horizontal       
            mergers.  32p.                                              
     5/95   Hakonsen, Lars.  Optimal commodity taxation with a binding  
            CO2 restriction.  14p.                                      
     6/95   Knarvik, Karen M.  Technological spillovers, industrial     
            clusters and economic integration.  47p.                    
     8/95   Hagen, Kare P., Osmundsen, Petter & Schjelderup, Guttorm.   
            Internationally mobile firms and tax policy.  34p.          
     7/95   Tungodden, Bertil.  A new approach to normative poverty     
            measurement.  37p.                                          
     9/95   Salvanes, Kjell G. & Tjotta, Sigve.  A test for natural     
            monopoly with application to electricity distribution.  22p.
     14/95  Steigum, Erling & Thogerson, Oystein.  Fiscal policy        
            responses to an external shock: the intergenerational       
            distribution of structural adjustment costs.  29p.          
     15/95  Hagen, Kare P., Osmundsen, Petter & Schjelderup, Guttorm.   
            Personal income taxation and welfare appropriation in an    
            open economy.  31p.                                         
     12/95  Salvanes, Kjell G.  The flexibility of the Norwegian labour 
            market: job creation and job destruction in manufacturing   
            1977-86.  43p.                                              
     11/95  Salvanes, Kjell G. & Tjotta, Sigve.  Local properties of    
            estimated flexible functional forms.  7p.                   
     16/95  Schjelderup, Guttorm & Sorgard, Lars.  The multinational    
            firm, transfer pricing and the nature of competition.  28p. 
     10/95  Squires, Dale & Salvanes, Kjell G.  Quasi-concavity of fixed
            factors.  9p.                                               
     13/95  Steen, Frode & Salvanes, Kjell G.  Testing for market power 
            using a dynamic oligopoly model.  40p.                      

     OHIO STATE UNIVERSITY.  Department of Economics.                   

     9405   Ahn, Byung Chul.  Testing the null of stationarity in the   
            presence of structural breaks for multiple time series.     
            42p.                                                        
     9402   Crucini, Mario J.  On international and national dimensions 
            of risk sharing.  22p.                                      
     9403   Crucini, Mario J. & Kahn, James.  Tariffs and aggregate     
            economic activity: lessons from the Great Depression.  47p. 
     9401   McCulloch, J. Huston.  Time series analysis of state-space  
            models with symmetric stable errors by posterior mode       
            estimation.  48p.                                           
     9406   Ogaki, Masao & Kakkar, Vikas.  Real exchange rates and      
            nontradables: a relative price approach.  52p.              
     9404   Viard, Alan D. & Jack, William.  Production efficiency and  
            the design of temporary investment incentives.  35p.        



                                                           PAGE 102

     9505   Cecchetti, Stephen G. & Kashyap, Anil K.  International     
            cycles.  32p.                                               
     9502   McCulloch, J. Huston.  Financial applications of stable     
            distributions.  46p.                                        
     9501   McCulloch, J. Huston.  Measured tail thickness in order to  
            estimate the stable index alpha: a critique.  24p.          
     9503   McCulloch, J. Huston.  On the parameterization of the afocal
            stable distributions.  7p.                                  
     9504   McCulloch, J. Huston.  Precise fractiles and fractile       
            densities of the maximially-skewed stable distributions.    
            24p.                                                        

     OSAKA UNIVERSITY.  Institute of Social and Economic Research.      

     350    Horioka, Charles Y., Yokota, Naoto & Miyaki, Toshiyuki.  Why
            do people save?: an analysis of motives for household saving
            in Japan.  37p.                                             
     353    Lahiri, Sajal & Onu, Yoshiyasu.  Asymmetric oligopoly,      
            international trade, and welfare: a synthesis.  21p.        
     349    Matsumura, Toshihiro.  Endogenous timing in Cournot duopoly.
             26p.                                                       
     348    Matsumura, Toshihiro & Ueda, Masako.  Endogenous timing in  
            switch of technology with Marshallian externalities.  24p.  
     354    Ono, Yoshiyasu.  Market segmentation and effective demand   
            shortage in a world economy with dynamic optimization.  84p.
     352    Saijo, Tatsuyoshi & Tatamitani, Yoshikatsu.                 
            Characterization neutrality in the voluntary contribution   
            mechanism.  33p.                                            
     351    Saijo, Tatsuyoshi, Une, Masashi & Yamaguchi, Toru.  "Dango" 
            experiments.  30p.                                          
     358    Ching, Stephen & Serizawa, Shigehiro.  Maximal domains for  
            the existence of strategy-proof rules.  19p.                
     364    Lim, Chin.  Voluntary contributions to public goods and the 
            Hegemon theory of international public goods.  42p.         
     357    Matsumura, Toshihiro.  A two-stage price-setting duopoly    
            with endogenous timing: Bertrand or Stackleberg equilibria. 
            23p.                                                        
     363    Oum, Tae Hoon.  A comparative study of productivity and cost
            competitiveness of the world's major airlines.  28p.        
     360    Oum, Tae Hoon.  The effects of airline codesharing          
            agreements on international air fares.  33p.                
     361    Oum, Tae Hoon & Zhang, Yimin.  Competition and allocative   
            efficiency: the case of the U.S. telephone services         
            industry.  33p.                                             
     355    Serizawa, Shigehiro.  Strategy-proof, individually rational 
            and symmetric social choice function for discrete public    
            good economies.  17p.                                       
     356    Tsuneki, Atsushi.  On the resolution of the boundary problem
            through the wealth maximization criterion: a critique of    
            Posner.  8p.                                                
     366    Bohlin, Erik.  A survey of managerial incentives and        
            investment bias: common structure but differing assumptions.
             57p.                                                       
     372    Horioka, Charles Y.  Is Japan's household saving rate really
            high?: a revision and update.  40p.                         



                                                           PAGE 103

     367    Matsumura, Toshihiro.  How many firms become leaders?.  18p.
     368    Matsumura, Toshihiro.  A two-stage Cournot duopoly with     
            inventory costs.  14p.                                      
     373    Ogawa, Kazuo & Suzuki, Kazuyuki.  Land value and corporate  
            investment: evidence from Japanese panel data.  40p.        
     370    Saijo, Tatsuyoshi & Nakamura, Hideki.  The `spite' dilemma  
            in voluntary contribution mechanism experiments.  48p.      
     371    Saijo, Tatsuyoshi, Tatamitani, Yoshikatsu & Yamato,         
            Takehiro.  Characterizing natural implementability: the fair
            and Walrasian correspondences.  35p.                        
     365    Shilony, Yuval.  How to account for the diversity observed  
            in voluntary collective action.  14p.                       
     374    Ikeda, Shinsuke.  An intertemporal capital asset pricing    
            model with stochastic differential utility.  19p.           
     380    Ikeda, Shinsuke.  A simple approach to arbitrage asset      
            pricing in incomplete markets.  18p.                        
     376    Iritani, Jun & Kuga, Kiyoshi.  Uniform commmodity taxation  
            and untaxable commodities: equilibrium and efficiency.  25p.
     378    Matsumura, Toshihiro.  An n-firm quantity-setting oligopoly 
            with endogenous sequencing.  18p.                           
     379    Ono, Yoshiyasu.  The marginal efficiency of capital and     
            dynamic optimization.  11p.                                 
     375    Saijo, Tatsuyoshi, Tatamitani, Yoshikatsu & Yamato,         
            Takehiro.  Natural implementation with a simple punishment. 
            27p.                                                        
     385    Curtis, Terry.  Broadband telecommunication policy in the   
            U.S. and Japan: innovation, standarization, and industry    
            structure.  28p.                                            
     384    Horioka, Charles Y.  A cointegration analysis of the impact 
            of the age structure of the population on the household     
            saving rate in Japan.  23p.                                 
     386    Ikeda, Shinsuke.  Time preference, intertemporal            
            substitution, and dynamics under consumer interdependence.  
            44p.                                                        
     382    Ogawa, Kazuo, et al.  An empirical reevaluation of wealth   
            effects in Japanese household behavior.  29p.               
     383    Ogawa, Kazuo & Kitasaka, Shinichi.  Market valuation and the
            q-theory of investment.  38p.                               

     UNIVERSITY OF OTTAWA.  Department of Economics.                    

     9419   Bougrine, Hassam & Seccareccia, Mario.  Unemployment        
            compensation and unemployment: an analysis of the aggregate 
            demand side effects for post war Canada.  30p.              
     9423   Devlin, Rose Anne.  No-fault insurance as a rational        
            response to rate regulation.  27p.                          
     9422   Devlin, Rose Anne & Perrakis, Stylianos.  Legislating       
            competition in the Russian federation: a new challenge for  
            antitrust policy.  31p.                                     
     9418   Georges, Patrick.  A model of state-dependent target zone   
            entry.  31p.                                                
     9420   Grafton, R. Quentin & Devlin, Rose Anne.  Paying for        
            pollution: permits and charges.  36p.                       
     9421   LaCasse, Chantale & Plourde, Andre.  On the renewal of      
            concern for the security of oil supply.  29p.               



                                                           PAGE 104

     9417   Ryan, David L., Plourde, Andre & Wang, Yu.  Oil price       
            asymmetries: fact or artifact?: residential oil price demand
            in Ontario, 1963-1992.  28p.                                
     9426   Grafton, R. Quentin & Rowlands, Dane.  Give and take in     
            Haiti: the institutions of aid and theft.  24p.             
     9424   Parguez, Alain.  Full employment and inflation.  59p.       
     9501   Georges, Patrick.  A target zone model with expected trend  
            revisions.  34p.                                            
     9502   Ryan, David L., Plourde, Andre & Wang, Yu.  Inter-fuel      
            substitution, capital equipment, and asymmetric price       
            responses of residential energy demand.  30p.               
     9506   Foulo, Tabo & Grafton, R. Quentin.  Structural adjustment in
            Lesotho: an evaluation.  21p.                               
     9504   Grafton, R. Quentin & Flanagan, Gregory L.  A primer on     
            externalities and the environment.  30p.                    
     9505   Grafton, R. Quentin, Squires, Dale & Kirkley, James.        
            Turning the tide?: private property rights and the crisis in
            fisheries management.  35p.                                 
     9507   Horstmann, Ignatius J. & LaCasse, Chantale.  Secret reserve 
            prices in a bidding model with a re-sale option.  39p.      

     PEKING UNIVERSITY.  China Centre for Economic Research.            

     9502   Lin, Justin Y.  Why China's economic reforms have been      
            successful: implications for other reforming economies.     
            27p.                                                        
     9503   Yu, Mingde.  The effects of parental sex preference and the 
            birth quota policy on birth interval in China.  30p.        
     9501   Zhang, Weiying & Yi, Gang.  China's gradual reform: a       
            historical perspective.  19p.                               

     UNIVERSITY OF PENNSYLVANIA.  Center for Analytic Research in Econ. 

     9418   Manning, Julian R.A.  Public goods and the Oates            
            decentralisation theorem.  16p.                             
     9419   Morris, Stephen & Shin, Hyun Song.  The rationality and     
            efficiency of decisions under uncertainty and the value of  
            an experiment.  19p.                                        
     9420   Sandroni, Alvaro.  Does rational learning lead to Nash      
            equilibrium in finitely repeated games?.  37p.              
     9421   Coate, Stephen & Morris, Stephen.  On the form of transfers 
            to special interests.  30p.                                 
     9422   Matsui, Akihiko & Postlewaite, Andrew.  Specialization of   
            labor and the distribution of income.  18p.                 
     9502   Besley, Timothy & Coate, Stephen.  An economic model of     
            representative democracy.  62p.                             
     9501   Citanna, Alessandro & Villanacci, Antonio.  Financial       
            innovation and expectations: endogenous incompleteness and  
            real indeterminacy.  19p.                                   
     9411   Krusell, Per, Quadrini, Vincenzo & Rios-Rull, Jose-Victor.  
            Politico-economic equilibrium and economic growth.  32p.    
     9503   Dutta, Jayasri & Morris, Stephen.  The revelation of        
            information and self-fulfulling beliefs.  36p.              
     9505   Morris, Stephen.  Cooperation and timing.  7p.              




                                                           PAGE 105

     9504   Morris, Stephen.  Justifying rational expectations.  16p.   
     9507   Lagunoff, Roger D.  Sufficiently specialized economies have 
            nonempty cores.  14p.                                       
     9506   Ryoo, Jaewoo.  Statistical discrimination, affirmative      
            action, and mismatch.  31p.                                 
     9510   Besley, Timothy & Coate, Stephen.  Efficient policy choice  
            in a representative democracy: a dynamic analysis.  36p.    
     9512   Gottardi, Piero & Kajii, Atsushi.  Generic existence of     
            sunspot equilibria: the real asset case.  25p.              
     9511   Kajii, Atsushi.  The sequential regularity of competitive   
            equilibria and sunspots.  14p.                              
     9509   Manning, Richard & Manning, Julian.  Budget-constrained     
            search.  19p.                                               
     9513   Morris, Stephen.  Speculative investor behavior and         
            learning.  28p.                                             
     9508   Sandroni, Alvaro.  Necessary and sufficient conditions for  
            convergence to Nash equilibrium: the almost absolute        
            continuity hypothesis.  27p.                                
     9514   Cole, Harold L., Mailath, George J. & Postlewaite, Andrew.  
            Incorporating concern for relative wealth into economic     
            models.  18p.                                               
     9515   Lagunoff, Roger & Matsui, Akihiko.  An "anti-folk theorem"  
            for a class of asynchronously repeated games.  25p.         

     UNIVERSITAT POMPEU FABRA.  Economics Working Papers.               

     90     Blake, John, Amat, Oriol & Clarke, Julia.  Management's     
            response to finance lease capitalization in Spain.  18p.    
     91     Bosch, Antoni & Sunder, Shyam.  Tracking the invisible hand:
            convergence of double auctions to competitive equilibrium.  
            34p.                                                        
     98     Acemoglu, Daron & Zilibotti, Fabrizio.  Was Prometheus      
            unbound by chance?: risk, diversification and growth.  63p. 
     94     Fauli-Oller, Ramon & Motta, Massimo.  Why do owners let     
            their managers pay too much for their acquisitions?.  26p.  
     99     Foucault, Thierry.  Price formation and order placement     
            strategies in a dynamic order driven market.  43p.          
     97     Gambardella, Alfonso & Garcia-Fontes, Walter.  Regional     
            linkages through European research funding.  35p.           
     92     Jimenez-Martin, Sergi.  The wage effect of an indexation    
            clause: evidence from Spanish manufacturing firms.  59p.    
     100    Marimon, Ramon & Zilibotti, Fabrizio.  `Actual' versus      
            `virtual' employment in Europe: why is there less employment
            in Spain?.  48p.                                            
     96     Serra, Daniel & ReVelle, Charles.  Competitive location in  
            discrete space.  31p.                                       
     107    Bailen, Jose M. & Rivera-Batiz, Luis A.  Human capital,     
            heterogeneous agents and technological change.  36p.        
     105    Bosch-Domenech, Antoni & Silvestre, Joaquim.  Credit        
            constraints in general equilibrium: experimental results.   
            30p.                                                        
     93     Carreras, Albert & Tafunell, Xavier.  National enterprise:  
            Spanish big manufacturing firms (1917-1990); between state  
            and market.  70p.                                           




                                                           PAGE 106

     103    Garcia-Fontes, Walter, Tansini, Ruben & Vaillant, Marcel.   
            Cross-industry entry: the case of a small developing        
            country.  19p.                                              
     109    Marron, J.S. & Udina, Frederic.  Interactive local bandwidth
            choice.  18p.                                               
     101    Marti, Maria S.  Are large windows efficient?: evolution of 
            learning rules in a bargaining model.  38p.                 
     102    Marti, Maria S.  An evolutionary model of development of a  
            credit market.  31p.                                        
     106    Mulligan, Casey B. & Sala-i-Martin, Xavier.  A labor        
            income-based measure of the value of human capital: an      
            application to the states of the United States.  67p.       
     110    Saez, Marc & Kunst, Robert M.  ARCH patterns in cointegrated
            systems.  27p.                                              
     108    Sala-i-Martin, Xavier.  A positive theory of social         
            security.  51p.                                             
     104    Sala-i-Martin, Xavier.  Regional cohension: evidence and    
            theories of regional growth and convergence.  46p.          
     116    Barro, Robert J. & Sala-i-Martin, Xavier.  Technological    
            diffusion, convergence, and growth.  43p.                   
     113    Canova, Fabio.  Does detrending matter for the determination
            of the reference cycle and the selection of turning points?.
             35p.                                                       
     115    Garcia-Mila, Teresa, Marcet, Albert & Ventura, Eva.  Supply 
            side interventions and redistribution.  43p.                
     114    Hart, Sergiu & Mas-Colell, Andreu.  Bargaining and value.   
            46p.                                                        
     118    Maliar, Serguei & Perepelitsa, Vitali.  Linear convolution  
            algorithms solvability of the chain covering problem.  11p. 
     119    Maliar, Serguei, Kozin, Igor & Perepelitsa, Vitali.  Solving
            capability of linear convolution algorithms.  11p.          
     112    Mulligan, Casey B. & Sala-i-Martin, Xavier.  Measuring      
            aggregate human capital.  53p.                              
     117    Sala-i-Martin, Xavier.  The classical approach to           
            convergence analysis.  37p.                                 
     123    Amat, Oriol & Blake, John.  The impact of post industrial   
            society on the accounting compromise: experience in the U.K.
            and Spain.  20p.                                            
     120    Ciccone, Antonio & Hall, Robert E.  Productivity and the    
            density of economic activity.  37p.                         
     125    Cordella, Tito & Datta, Majira.  Intertemporal Cournot and  
            Walras equilibrium: an illustration.  9p.                   
     111    Cuadras-Morato, Xavier & Roses, Joan R.  Bills of exchange  
            as money: sources of monetary supply during the             
            industrialization in Catalonia (1844-74).  30p.             
     124    Dow, William H., et al.  Death, tetanus, and aerobics: the  
            evaluation of disease-specific health interventions.  37p.  
     128    Gomez Puig, Marta & Montalvo, Jose G.  Bands width,         
            credibility and exchange risk: lessons from the EMS         
            experience.  30p.                                           
     126    Satorra, Albert.  Asymptotic robustness in multi-sample     
            analysis of multivariate linear relations.  32p.            
     127    Satorra, Albert & Neudecker, Heinz.  Compact matrix         
            expressions for generalized Wald tests of equality of moment
            vectors.  21p.                                              



                                                           PAGE 107

     122    Scott, Andrew.  Why is consumption so seasonal?.  36p.      
     121    Werner, Jan.  Arbitrage, bubbles, and valuation.  17p.      

     UNIVERSIDADE CATOLICA PORTUGUESA.  Departamento de Economia.       

     48     Barros, Fatima.  Asymmetry of information as a commitment in
            oligopoly.  27p.                                            
     52     Correia, Isabel & Teles, Pedro.  Money as an intermediate   
            good and the welfare cost of the inflation tax.  20p.       
     47     Teles, Pedro.  Budget implications of monetary coordination 
            in the European Community.  40p.                            
     51     Teles, Pedro.  The virtues of a parallel currency regime.   
            40p.                                                        
     57     Felli, Leonardo & Villas-Boas, J. Miguel.  "Friendships" in 
            vertical relations.  20p.                                   
     56     Lal, Rajiv & Villas-Boas, J. Miguel.  Competitive price     
            promotions with multi-product retailers.  61p.              
     55     Lal, Rajiv, Little, John D.C. & Villas-Boas, J. Miguel.  A  
            theory of forward buying, merchandising and trade deals.    
            39p.                                                        
     53     Neves, Joao Cesar das.  World convergence: a note on        
            multivariability.  11p.                                     
     54     Villas-Boas, J. Miguel.  Comparative statics of fixed       
            points.  28p.                                               
     59     Barros, Fatima.  Portugese banking sector: a mixed          
            oligopoly?.  17p.                                           
     65     Braga, Teresa L.  Increasing returns to scale and endogenous
            fluctuations.  34p.                                         
     61     Guedes, Jose & Opler, Tim.  The determinants of the maturity
            of new corporate debt issues.  42p.                         
     62     Guedes, Jose & Parayre, Roch.  Managerial reputation and    
            divisional sell-offs: a model and emprical test.  24p.      
     63     Machado, Fernando S.  Cointegration and the induced         
            innovation hypothesis.  21p.                                
     60     Martins, Ana P.  Simple and cumulative dummies, and ordinal 
            variables in regression analysis.  24p.                     

     PRINCETON UNIVERSITY.  Industrial Relations Section.               

     337    Card, David & Krueger, Alan B.  The effect of the minimum   
            wage on shareholder wealth.  54p.                           
     339    Hyslop, Dean.  The covariance structure of intrafamily      
            earnings, rising inequality and family labor supply.  56p.  
     338    Park, Jin Heum.  Estimation of sheepskin effects and returns
            to schooling using the old and the new CPS measures of      
            educational atta.  21p.                                     
     341    Farber, Henry S.  Are lifetime jobs disappearing?: job      
            duration in the United States, 1973-1993.  56p.             
     342    Farber, Henry S. & Gowa, Joanne.  Common interests or common
            polities?: reinterpreting the democratic peace.  39p.       
     340    Hallock, Kevin.  Executive pay and reciprocally interlocking
            boards of directors.  55p.                                  
     343    Card, David.  The Wage Curve: A review.  35p.               
     344    Boozer, Michael & Rouse, Cecilia.  Intraschool variation in 
            class size: patterns and implications.  34p.                



                                                           PAGE 108

     345    Cameron, Lisa.  Raising the stakes in the ultimatum game:   
            experimental evidence from Indonesia.  30p.                 
     346    Chay, Kenneth Y.  The impact of federal civil rights policy 
            on black economic progress: evidence from the Equal         
            Employment Opportunit.  47p.                                
     348    Dynan, Karen E. & Rouse, Cecilia E.  The underrepresentation
            of women in economics: a study of undergraduate economics   
            students.  19p.                                             
     347    Hyslop, Dean.  State dependence, serial correlation and     
            heterogeneity in intertemporal partic- ipation behavior:    
            Monte Carlo evide.  76p.                                    
     349    Krueger, Alan & Kruse, Douglas.  Labor market effects of    
            spinal cord injuries in the dawn of the computer age.  48p. 
     350    Parent, Daniel.  Industry-specific capital and the wage     
            profile: evidence from the NLSY and the PSID.  26p.         
     351    Parent, Daniel.  Matching, human capital, and the covariance
            structure of earnings.  52p.                                

     PRINCETON UNIVERSITY.  International Finance Section-Essays.       

     194    Bini-Smaghi, Lorenzo, Padoa-Schioppa, Tommaso & Papadia,    
            Francesco.  The transition to EMU in the Maastrict Treaty.  
            70p.                                                        
     195    Buira, Ariel.  Reflections on the International Monetary    
            System.  41p.                                               
     196    Takagi, Shinji.  From recipient to donor: Japan's official  
            aid flows 1945 to 1990 and beyond.  36p.                    
     197    Conway, Patrick.  Currency proliferation: the monetary      
            legacy of the Soviet Union.  60p.                           

     PRINCETON UNIVERSITY.  International Finance Section-Studies.      

     77     Leamer, Edward E.  The Heckscher-Ohlin model in theory and  
            practice.  46p.                                             
     78     Gylfason, Thorvaldur.  The macroeconomics of European       
            agriculture.  51p.                                          

     PRINCETON UNIVERSITY.  Woodrow Wilson School-Papers in Economics.  

     177    Besley, Timothy & Coate, Stephen.  An economic model of     
            representative democracy.  61p.                             
     175    Grossman, Gene M. & Helpman, Elhanan.  Technology and trade.
             77p.                                                       
     176    Maggi, Giovanni.  Strategic trade policies with endogenous  
            mode of competition.  42p.                                  

     PURDUE UNIVERSITY.  Inst. for Research in Behav, Econ & Mgmt Sci.  

     1068   Allen, Jeffrey W., McConnell, John J. & Reed, Debra K.  Can 
            takeover losses explain spin-off gains?.  24p.              
     1072   Hunsaker, Julie & Kovenock, Dan.  The pattern of exit from  
            declining industries.  24p.                                 
     1071   Matheny, Kenneth J.  Real effects of monetary policy in a   
            'neoclassical' model: the case of interest rate targeting.  
            30p.                                                        



                                                           PAGE 109

     1073   Joseph, Kissan & Kalwani, Manohar U.  The impact of         
            environmental uncertainty on the design of salesforce       
            compensation plans.  23p.                                   
     1074   Tomak, K. & Zaman, A.  A note on the Goldfeld Quandt test.  
            12p.                                                        
     1078   Alsemgeest, Paul, Noussair, Charles & Olson, Mark.          
            Experimental comparisons of auctions under single and       
            multi-unit demand.  45p.                                    
     1075   Chaturvedi, Alok R.  SimDS: a simulation environment for the
            design of distributed database systems.  26p.               
     1076   Kovenock, Dan & Roy, Suddhasatwa.  Free riding in           
            non-cooperative entry deterrence with differentiated        
            products.  39p.                                             
     1077   Matheny, Kenneth J. & Farmer, Roger E.A.  The macroeconomics
            of self-fulfilling prophecies.  21p.                        
     1079   Kovenock, Dan & de Vries, Casper.  Fiat exchange in finite  
            economies.  28p.                                            
     1080   Kovenock, Dan & Roy, Suddhasatwa.  Dynamic capcity choice in
            a Bertrand-Edgeworth framework.  33p.                       
     1081   Kazaz, Burak & Sepil, Canan.  Projected scheduling with     
            discounted cash flows and progress payments.  19p.          

     UNIV. DU QUEBEC.  Centre de Rech. sur l'Emploi et les Fluc. Econ.  

     35     Cardia, Emanuela & Ambler, Steve.  Indexation lags and      
            heterodox stabilization programs.  26p.                     
     31     Normandin, Michel.  Budget deficit persistence and the twin 
            deficits hypothesis.  41p.                                  
     33     Zimmermann, Christian.  International business cycles and   
            exchange rates.  22p.                                       
     34     Zimmermann, Christian.  Technology innovations and the      
            volatility of output: an international perspective.  25p.   
     36     Fortin, Pierre, Keil, Manfred & Symons, James.  The sources 
            of unemployment in Canada, 1967-1991: evidence from a panel 
            of regions and demographic groups.  27p.                    
     38     Zimmermann, Christian.  International real business cycles  
            among heterogeneous countries.  38p.                        
     37     Zimmermann, Christian.  International trade over the        
            business cycle: stylized facts and remaining puzzles.  32p. 

     UNIVERSITE DU QUEBEC A MONTREAL.  Dept. des Sciences Economiques.  

     9408   Mohnen, Pierre.  The econometric approach to R & D          
            externalities.  48p.                                        
     9501   Merrigan, Philip & St. Pierre, Yvan.  A neoclassical and    
            econometric analysis of the timing and spacing of births in 
            Canada from 1950 to 1990.  31p.                             
     9503   LeBourdais, Celine, Lefebvre, Pierre & Merrigan, Philip.    
            Welfare, conjugal unions and single motherhood in Canada:   
            estimates from a hazard model.  26p.                        
     9504   Lefebvre, Pierre & Merrigan, Philip.  Welfare benefits and  
            incomes of Canadian families: a dynamic analysis.  25p.     
     9505   Leonard, Robert J.  Sign, society, and structure: game      
            theory and the linguistic turn in social science.  22p.     




                                                           PAGE 110

     9506   Al-Najjar, Nabil I.  Decomposition and characterization of  
            risk with a continuum of random variables.  56p.            
     9507   Fluet, Claude.  Health insurance and the welfare economics  
            of organ transplants.  27p.                                 
     9509   Lasserre, Pierre & Quellette, Pierre.  Dynamic factor       
            demands and technology measurement under arbitrary          
            expectations.  31p.                                         
     9508   Demougin, Dominique & Fluet, Claude.  Monitoring moral      
            hazard and limited liability.  24p.                         
     9511   Dionne, Georges & Fluet, Claude.  Incentives in multi-period
            regulation and procurement: a graphical analysis.  44p.     
     9510   Fluet, Claude & Pannequin, Francois.  Insurance contracts   
            under adverse selection with random loss severity.  25p.    

     QUEEN'S UNIVERSITY.  Institute for Economic Research.              

     912    Beach, Charles M., Davidson, Russell & Slotave, George A.   
            Distribution-free statistical inference for inequality      
            dominance with crossing Lorenz curves.  16p.                
     911    Head, Allen & Lapham, Beverly.  Trigger strategies and the  
            cyclicality of markups.  27p.                               
     914    Banerjee, Anindya.  Dynamic specification and testing for   
            unit roots and co-integration.  43p.                        
     913    Beach, Charles M. & Rongve, Ian.  Estimation and inference  
            for normative inequality indices.  23p.                     
     915    Boadway, Robin W. & Keen, Michael.  Efficiency and the      
            fiscal gap in federal systems.  27p.                        
     916    Shi, Shouyong.  Money and prices: a model of search and     
            bargaining.  52p.                                           
     918    MacKinnon, James G.  Numerical distribution functions for   
            unit root and cointegration tests.  23p.                    
     919    MacKinnon, James G. & Smith, Anthony A.  Approximate bias   
            correction in econometrics.  25p.                           
     917    Shi, Shouyong.  Credit and money in a search model with     
            divisible commodities.  37p.                                
     920    Takahashi, Harutaka.  The von Neumann facet and optimal     
            cycles with small discounting.  20p.                        
     921    Takahashi, Harutaka.  The von Neumann facet and the turnpike
            properties for a neoclassical optimal growth model with many
            capital goods I.  18p.                                      
     922    Banerjee, Anindya, Dolado, Juan J. & Mestre, Ricardo.  On   
            the power of cointegration tests: dimension invariance vs.  
            common factors.  43p.                                       
     923    Gregory, Allan W. & Watt, David G.  Sources of variation in 
            international real interest rates.  32p.                    
     924    Ferrall, Christopher, Gregory, Allan W. & Tholl, William G. 
            Endogenous work hours and practice patterns of Canadian     
            physicians.  34p.                                           
     927    Alexander-Cook, Kim, Bernhardt, Dan & Roberts, Joanne.      
            Riding free on the signals of others.  20p.                 
     928    Nakanishi, Noritsugu.  Reexamnation of the international    
            export quota game through the theory of social situations.  
            34p.                                                        
     926    Spicer, John & Bernhardt, Dan.  Roller coastering up and    
            down the demand curve of a durable goods monopolist.  16p.  



                                                           PAGE 111

     925    Spicer, John & Bernhardt, Dan.  Scab labor.  15p.           

     UNIVERSITY OF ROCHESTER.  Center for Economic Research.            

     395    McKenzie, Lionel W.  Equilibrium, trade, and capital        
            accumulation.  43p.                                         
     396    Thomson, William.  Concepts of implementation.  17p.        
     401    Boyd, John H. & Conley, John P.  Fundamental nonconvexities 
            in Arrovian markets and a Coasian solution to the problem of
            externalities.  25p.                                        
     402    Burnside, Craig, Eichenbaum, Martin & Rebelo, Sergio.       
            Capital utilization and returns to scale.  50p.             
     397    Hanushek, Eric A., Rivkin, Steven G. & Taylor, Lori L.      
            Aggregation and the estimated effects of school resources.  
            43p.                                                        
     399    Krusell, Per & Smith, Anthony A.  Income and wealth         
            heterogeneity in the macroeconomy.  39p.                    
     398    McKenzie, Lionel W.  The competitive equilibrium turnpike   
            II.  11p.                                                   
     400    Moulin, Herve & Thomson, William.  Axiomatic analysis of    
            resource allocation.  22p.                                  
     404    Ogaki, Masao & Reinhart, Carmen M..  Measuring intertemporal
            substitution: the role of durable goods.  27p.              
     403    Thomson, William.  The replacement principle in economies   
            with indivisible goods.  11p.                               
     407    Campbell, Jeffrey R.  Entry, exit, technology, and business 
            cycles.  39p.                                               
     406    Greenwood, Jeremy & Smith, Bruce D.  Financial markets in   
            development, and the development of financial markets.  53p.
     409    Hodgson, Douglas J.  Adaptive estimation of cointegrated    
            models: simulation evidence and an application to the       
            forward exchange market.  8p.                               
     408    Hodgson, Douglas J.  Adaptive estimation of cointegrating   
            regressions with ARMA errors.  72p.                         
     410    Hodgson, Douglas J.  Adaptive estimation of error correction
            models.  72p.                                               
     405    Rebelo, Sergio & Vegh, Carlos A.  Real effects of exchange  
            rate-based stabilization: an analysis of competing theories.
             59p.                                                       

     UNIVERSITY OF ROCHESTER.  Wallis Inst. of Political Economy.       

     1      Krusell, Per & Rios-Rull, Jose Victor.  What constitutions  
            promote capital accumulation?: a political economy approach.
             48p.                                                       
     4      Calvert, Randall.  Explaining social order: internalization,
            external enforcement, or equilibrium?.  24p.                
     3      Hanushek, Eric A.  Interpreting recent research on schooling
            in developing countries.  29p.                              
     2      Hanushek, Eric A.  Rationalizing school spending:           
            efficiency, externalities and equity, and their connection  
            to rising costs.  52p.                                      

     UNIVERSITA DI ROMA.  Centro Interdipartimentale di Economia Int'l. 

     32     Graham, Edward M.  The (not wholly satisfactory) state of   
            the theory of foreign direct investment and the             
            multinational enterprise.  63p.                             
                                                           PAGE 112

     31     Leamer, Edward E. & Levinsohn, James.  International trade  
            theory: the evidence.  77p.                                 
     28     Padoan, Pier Carlo.  Widening and deepening in Europe: the  
            logic of multiple clubs in an evolutionary perspective.     
            22p.                                                        
     30     Stein, Jerome L. & Sauerheimer, Karlhans.  The real exchange
            rates of Germany.  66p.                                     
     33     Steinherr, Alfred.  Lessons from German unification.  52p.  
     29     Tobin, James.  A currency transaction tax, why and how?.    
            17p.                                                        

     UNIVERSITY OF SAARLAND.  Department of Economics.                  

     9405   Krebs, Susanne & Pommerehne, Werner W.  Politico-economic   
            interactions of German public performing arts institutions. 
            26p.                                                        
     9403   Pommerehne, Werner W. & Granica, J. Martin.  Aesthesic,     
            historical and financial aspects in the evaluation of visual
            arts.  24p.                                                 
     9407   Pommerehne, Werner W., Kirchgassner, Gebhard & Feld, Lars P.
             Tax harmonization and tax competition at state-local       
            levels: lessons from Switzerland for the European Union.    
            46p.                                                        
     9503   Eichberger, Jurgen.  Bayesian learning in repeated normal   
            form games.  27p.                                           
     9501   Eichberger, Jurgen & Milne, Frank.  Bank runs and capital   
            adequacy.  32p.                                             
     9502   Eichberger, Jurgen & Kelsey, David.  Uncertainty aversion   
            and dynamic consistency.  27p.                              
     9506   Haucap, Justus & Barmbold, Jens.  Location choice and       
            implicit franchise contracts.  22p.                         
     9507   Heiner, Ronald A. & Schmidtchen, Dieter.  Rational          
            cooperation in one-shot simultaneous prisoner's dilemma     
            situations.  38p.                                           
     9504   Schmidt-Mohr, Udo.  Consumer credit in a model of vertically
            differentiated consumer durables.  33p.                     
     9505   Schmidt-Mohr, Udo.  Rationing versus collateralization in   
            competition and monopolistic credit markets with asymmetric 
            information.  21p.                                          
     9409   Schmidt-Trenz, Hans-Jorg & Scmidtchen, Dieter.  A theory of 
            optimum legal areas: regulation of social interaction       
            through the control of territory.  32p.                     

     SANTA FE INSTITUTE.  Economics Research Program.                   

     9529   Brock, William A. & Hommes, Cars H.  Rational routes to     
            randomness.  93p.                                           
     9504   Lane, David, et al.  Choice and action.  31p.               
     9541   Eisenberg, Laurence K.  Connectivity and financial network  
            shutdown.  67p.                                             
     9537   Karatzas, Ioannis, Shubik, Martin & Sudderth, William D.  A 
            strategic market game with secured lending.  58p.           
     9534   Paskov, Spassimin H. & Traub, Joseph F.  Faster valuation of
            financial derivatives.  14p.                                




                                                           PAGE 113

     9545   Kollman, Ken, Miller, John H. & Page, Scott E.  A comparison
            of political institutions in a Tiebout model.  27p.         
     9544   Lane, David & Vescovini, Roberta.  When optimization isn't  
            optimal: aggregation and information contagion.  15p.       
     9552   Midgeley, David F., Marks, Rovert E. & Cooper, Lee G.       
            Breeding competitive strategies.  37p.                      
     9551   Youssefmir, Michael & Huberman, Bernardo A.  Clustered      
            volatility in multiagent dynamics.  24p.                    
     9561   Durlauf, Steven N.  Neighborhood feedbacks, endogenous      
            stratification, and income inequality.  45p.                
     9584   Brock, William A. & Durlauf, Steven N.  Discrete choice with
            social interactions I: theory.  39p.                        
     9577   Brock, William A. & de Lima, Pedro J.F.  Nonlinear time     
            series, complexity theory, and finance.  65p.               

     UNIVERSITY OF SASKATCHEWAN.  Department of Economics.              

     94-2   Datta, Manjira & Mirman, Leonard J.  Externalities, market  
            power and resource extraction.  20p.                        
     95-7   Cushman, David O., Lee, Sang Sub & Thorgeirsson, Thorstein. 
            Maximum likelihood estimation of cointegration in exchange  
            rate models for seven inflationary OECD countries.  47p.    
     95-5   Altman, Morris.  Business cycle volatility and economic     
            growth: the historical record, 1870-1986.  29p.             
     95-4   Echevarria, Cristina.  Canadian agricultural production     
            function.  19p.                                             
     95-6   Echevarria, Cristina.  Effects of trade on growth in a model
            with land.  28p.                                            
     95-3   Knight, John L., Satchell, Stephen E. & Tran, Kien C.       
            Statistical modelling of asymmetric risk in asset returns.  
            24p.                                                        
     95-1   Tran, Kien C.  Estimating mixtures of normal distributions  
            via empirical characteristic functions.  36p.               
     95-2   Tran, Kien C.  Information matrix test for ARMA models.     
            30p.                                                        
     95-8   DeSalvo, Joseph S. & Huq, Mobinul.  Price variability and   
            the curvature of the consumer's budget line.  12p.          
     95-9   Huq, Mobinul & Wilson, Mark.  Reconciling estimates of the  
            income elasticity of demand for medical care.  22p.         
     9510   Echevarria, Cristina & Merlo, Antonio.  Gender differences  
            in education in a dynamic household bargaining model.  34p. 

     SEOUL NATIONAL UNIVERSITY.  Institute of Economic Research.        

     9502   Lee, Keun.  Economic reform, structural changes, and        
            regional economic growth in China: cross-province           
            regressions.  25p.                                          
     9501   Lee, Keun.  Can "legal person socialism" save China's state 
            sector?.  27p.                                              
     9410   Kim, Jeong-Yoo & Koh, Dong-Hee.  Cheap-talk in a model of   
            safety regulation.  25p.                                    
     9504   Hong, Keehyun.  The culture of professionalism and the      
            spread of marginalist economics in the United States.  40p. 
     9505   Hong, Keehyun.  The growth and change of economic research  
            in South Korea.  28p.                                       



                                                           PAGE 114

     9407   Rhee, Changyong & Rhee, Wooheon.  Fundamental stock price   
            and investment.  25p.                                       
     9503   Yang, Donghyu.  Recovery from the Great Depression in the   
            United States, Britain and Germany.  31p.                   

     UNIVERSITY OF SOUTHERN CALIFORNIA.  Dept. of Econ-Mod. Res. Group. 

     9416   Cason, Timothy N. & Mui, Vai-Lam.  Fairness and group       
            polarization in the team dictator game.  41p.               
     9411   Hsiao, Cheng, Mountain, Dean C. & Ho, Kathleen F.  A        
            Bayesian integration of end-use metering and conditional    
            demand analysis.  23p.                                      
     9413   Kuran, Timur.  The inevitability of future revolutionary    
            surprises.  36p.                                            
     9415   Mui, Vai-Lam.  The economics of envy.  33p.                 
     9412   Mui, Vai-Lam.  Incomplete contracts and the excuse doctrine 
            in contract law.  35p.                                      
     9414   Rosendorff, B. Peter.  Endogenous trade restrictions and    
            domestic political pressure.  23p.                          
     9417   Rosendorff, B. Peter.  International cooperation and the    
            power of domestic interests.  30p.                          

     UNIVERSITY OF SOUTHERN CALIFORNIA. Dept. of Econ-Anderson Series.  

     9502   Elyakime, Bernard, et al.  Auctioning and bargaining: an    
            econometric study of timber auctions with secret reservation
            prices.  27p.                                               
     9504   Guerre, Emmanuel, Perrigne, Isabel & Vuong, Quang.          
            Nonparametric estimation of first-price auctions.  38p.     
     9503   Guerre, Emmanuel, Perrigne, Isabel & Vuong, Quang.          
            Nonparametric estimation of first-price auctions: technical 
            appendices.  30p.                                           
     9505   Kuran, Timur.  Islamic economics and the Islamic subeconomy.
             34p.                                                       
     9501   Lavergne, Pascal & Vuong, Quang.  Selecting regressors using
            nonparametric estimators.  24p.                             

     UNIVERSITY OF STOCKHOLM.  Department of Economics.                 

     94-7   Bjornerstedt, Jonas & Weibull, Jorgen W.  Evolutionary      
            selection dynamics and irrational survivors.  24p.          
     94-5   Bomze, Immanuel M. & Weibull, Jorgen W.  Does neutral       
            stability imply Lyapunov stability?.  20p.                  
     94-6   Molander, Per.  Optimal greenhouse gas abatement under      
            uncertainty.  26p.                                          
     95-2   Bohm, Peter.  Environmental taxes, carbon taxes, tax        
            recycling and tax distortions.  27p.                        
     95-1   Bohm, Peter, Linden, Johan & Sonnegard, Joakim.  Eliciting  
            reservation prices: Becker-DeGroot-Marschak mechanisms vs.  
            markets.  37p.                                              
     95-3   Segendorff, Bjorn.  International agreements, political     
            equilibrium and strategic delegation.  37p.                 

     UNIVERSITY OF STOCKHOLM.  Institute for Int'l. Economic Studies.   

     583    Dahlquist, Magnum & Sellin, Peter.  Seasonalities in Swedish
            stock returns: why are they not arbitraged away?.  20p.     

                                                           PAGE 115

     588    Garber, Peter M. & Svensson, Lars E.O.  The operation and   
            collapse of fixed exchange rate regimes.  60p.              
     586    Gottfries, Nils.  Market shares, financial constraints, and 
            pricing behavior in the export industry.  35p.              
     585    Jacobson, Tor, Vredin, Anders & Warne, Anders.  Common      
            trends and hysteresis in unemployment.  44p.                
     589    Lindbeck, Assar.  Welfare state disincentives with          
            endogenous habits and norms.  23p.                          
     581    Sellin, Peter.  Do foreign investors have a market impact on
            Swedish stock prices?.  20p.                                
     582    Sellin, Peter.  Investment, marginal q, and discrete        
            stochastic price changes.  15p.                             
     584    Soderlind, Paul & Vredin, Anders.  Applied cointegration    
            analysis in the mirror of macroeconomic theory.  25p.       
     587    Svensson, Lars E.O.  The Swedish experience of an inflation 
            target.  27p.                                               
     590    Calmfors, Lars & Skedinger, Per.  Does active labour market 
            policy increase employment?: theoretical consideratio s and 
            some empirical evidence from .  40p.                        
     591    Flam, Harry & Nordstrom, Hakan.  Why do pre-tax car prices  
            differ so much across European countries?.  29p.            
     593    Jonsson, Gunnar.  Monetary politics and unemployment        
            persistence.  40p.                                          
     592    Jonsson, Gunnar & Klein, Paul.  Stochastic fiscal policy and
            the Swedish business cycle.  36p.                           
     594    Soderlind, Paul.  Forward interest rates as indicators of   
            inflation expectations.  28p.                               
     595    Svensson, Lars E.O.  Optimal inflation targets,             
            `conservative' central banks, and linear inflation          
            contracts.  39p.                                            

     STATE UNIVERSITY OF NEW YORK AT STONY BROOK.  Dept. of Economics.  

     9501   Aoiki, Reiko.  Sequential vs. simultaneous quality choices  
            with Bertrand and Cournot competition.  45p.                

     STATE UNIVERSITY OF NEW YORK AT STONY BROOK.  Inst. for Decision Sc

     37     Tauman, Yair & Chen, Yan.  Acceptable and Walrasian         
            allocation.  38p.                                           
     36     Tauman, Yair, Urbano, Amparo & Watanabe, Junichi.  A model  
            of multiproduct price competition.  25p.                    
     35     Xu, Xiaoqing.  Power and private goods.  23p.               

     TEL-AVIV UNIVERSITY.  Foerder Institute of Economic Research.      

     31/94  Gandal, Neil.  Sequential auctions of cable television      
            licenses: the Israeli experience.  17p.                     
     27/94  Glazer, Jacob & Rubinstein, Ariel.  The design of           
            organizations for collecting information from conformist    
            agents.  25p.                                               
     30/94  Hochman, Oded, Pines, David & Thisse, Jacques-F.  On the    
            optimal structure of local governments.  43p.               
     28/94  Razin, Assaf & Sadka, Efraim.  Resisting migration: wage    
            rigidity and income distribution.  18p.                     



                                                           PAGE 116

     29/94  Rubinstein, Ariel.  John Nash: the master of economic       
            modeling.  10p.                                             
     1/95   Becker, Robert & Zilcha, Itzhak.  Stationary Ramsey         
            equilibria under uncertainty.  20p.                         
     32/94  Coe, David T., Helpman, Elhanan & Hoffmaister, Alexander W. 
            North-South R & D spillovers.  41p.                         
     33/94  Fershtman, Chaim.  Survival of small firms: guerrilla       
            warfare.  23p.                                              
     2/95   Gandal, Neil, Greenstein, Shane & Salant, David.  Adoptions 
            and orphans in the early microcomputer market.  41p.        
     7/95   Asdrubali, Pierfederico, Sorensen, Bent & Yosha, Oved.      
            Channels of interstate risksharing: U.S., 1963-1990.  29p.  
     5/95   Frankel, David M.  Commitment and capital taxation with an  
            infinite horizon.  27p.                                     
     6/95   Frankel, David M.  Search with telephones and differentiated
            products.  34p.                                             
     4/95   Yafeh, Yishay & Yosha, Oved.  Large shareholders and banks: 
            who monitors and how?.  30p.                                
     3/95   Yosha, Oved.  Diversification and competition: financial    
            intermediation in a large Cournot - Walras economy.  33p.   
     9/95   Henderson, Rebecca, Jaffe, Adam B. & Trajtenberg, Manuel.   
            Universities as a source of commercial technology: a        
            detailed analysis of university patenting, 1965-1988.  39p. 
     10/95  Raff, Daniel M.G. & Trajtenberg, Manuel.  Quality-adjusted  
            prices for the American automobile industry, 1906-1940.     
            54p.                                                        
     8/95   Weiss, Yoram.  Growth and labor mobility.  34p.             
     12/95  Flanders, M. June.  Plus ca change..plus c'est (presque) la 
            meme chose - A review of Barry Eichengreen's "Golden        
            Fetters".  19p.                                             
     14/95  Helpman, Elhanan.  The size of regions.  33p.               
     15/95  Razin, Assaf & Sadka, Efraim.  Public debt in Israel: policy
            lessons.  35p.                                              
     13/95  Schwartz, Aba.  The interrelation of the time series of wage
            and employment at the firm level, common features and       
            contrasts.  16p.                                            
     11/95  Viaene, Jean-Marie & Zilcha, Itzhak.  Multiple uncertainty, 
            forward futures markets and international trade.  29p.      
     17/95  Fishman, Arthur.  Imperfectly informative equilibria for    
            signalling games.  19p.                                     
     19/95  Fishman, Arthur.  A theory of price inertia.  25p.          
     18/95  Fishman, Arthur.  Search with learning and price adjustment 
            dynamics.  30p.                                             
     20/95  Frankel, David M.  A pecuniary reason for income mixing.    
            26p.                                                        
     16/95  Navon, Ami, Shy, Oz & Thisse, Jacques-Francois.  Product    
            differentiation in the presence of snob and bandwagon       
            effects.  23p.                                              
     27/95  Aiyagari, S. Rao, Braun, Toni & Eckstein, Zvi.  Transaction 
            services, inflation and welfare.  44p.                      
     28/95  Bental, Benjamin & Eckstein, Zvi.  A neoclassical           
            interpretation of inflation and stabilization in Israel.    
            28p.                                                        
     24/95  Eckstein, Zvi & Wolpin, Kenneth I.  Estimating the effect of
            labor market discrimination of black-white differences in   
            wage offers using a search-match.  38p.                     


                                                           PAGE 117

     22/95  Frankel, David M.  A simple model of creative bargaining.   
            38p.                                                        
     25/95  Kahneman, Michael.  A model of bargaining between delegates.
             28p.                                                       
     23/95  Rubinstein, Ariel, Tversky, Amos & Heller, Dana.  Naive     
            strategies in competitive games.  19p.                      
     26/95  Serrano, Roberto & Yosha, Oved.  Decentralized information  
            and the Walrasian outcome: a pairwise meetings market with  
            private values.  27p.                                       
     21/95  Spiegler, Ran.  Coordination and matchmakers.  21p.         

     UNIVERSITY OF TOKYO.  Faculty of Economics.                        

     95-3   Itoh, Motoshige & Nagoka, Sadao.  Voluntary export          
            restraints, voluntary import expansions, and global         
            competition.  38p.                                          
     95-4   Iwami, Toru, Okazaki, Tetsuji & Yoshikawa, Hiroshi.  The    
            great depression in Japan: why so short and "mild"?.  43p.  
     9436   Nakao, Arinobu & Takemura, Akimichi.  Asymptotic comparison 
            of variances of OLS and feasible GLS estimators in          
            heteroscedastic regression models under co.  24p.           
     95-1   Nishimura, Kiyohiko G.  Product innovation with mass        
            production: insufficient or excessive?.  33p.               
     95-2   Nishimura, Kiyohiko G.  Uninformed buyers, market           
            information and volatility of prices: a theory of asset     
            markets with high transaction cos.  27p.                    
     9510   Horiuchi, Akiyoshi.  An evaluation of Japanese financial    
            liberalization: a case study of corporate bond markets.     
            49p.                                                        
     95-7   Horiuchi, Akiyoshi.  Liberalization and stability in the    
            Japanese financial system: an overview.  55p.               
     95-6   Ihori, Toshihiro.  International public goods and           
            contribution productivity differentials.  21p.              
     95-8   Itoh, Motoshige & Urata, Shujiro.  Small and medium         
            enterprise support policies in Japan.  122p.                
     95-5   Nishimura, Kiyohiko G.  Non-price competition and social    
            welfare in oligopoly.  21p.                                 
     9512   Takahashi, Nobuo.  Lukewarm feeling in Japanese firms:      
            effective temperature hypothesis and thermometer.  30p.     
     9511   Takahashi, Nobuo.  A single garbarge can model and the      
            degree of anarchy in Japanese firms.  32p.                  
     95-9   Yajima, Yoshihiro.  Estimation of the frequency of unbounded
            spectral densities.  32p.                                   
     9517   Gupta, Vipin & Fujimoto, Takahiro.  A dynamic model of      
            exchange rate and Japanese exchange system: management      
            dynamics of the free-fall in the dollar e.  34p.            
     9514   Kitagawa, Akiomi.  Does money always make people happy?.    
            17p.                                                        
     9515   Kitagawa, Akiomi.  Fiat money as a riskless asset.  24p.    
     9513   Kunitomo, Naoto & Sato, Seisho.  Stationarity and           
            non-stationarity simultaneous switching autoregressive      
            models with an application to financial tim.  26p.          
     9516   Takemura, Akimichi & Kuriki, Satoshi.  A proof of           
            independent Bartlett correctability of nested likelihood    
            ratio tests.  22p.                                          



                                                           PAGE 118

     9526   Hamoka, Yutaka, Furukawa, Ichiro & Katahira, Hotaka.  A     
            maximum likelihood non-compensatory model: you trade-off or 
            satisfice?.  30p.                                           
     9518   Itoh, Motoshige & Tanimoto, Masayuki.  Rural entrepreneurs  
            in the cotton weaving industry in Japan.  34p.              
     9520   Jinno, Naohiko.  Reinforcing the fiscal resources of the    
            local authorities: the Japanese experience.  21p.           
     9527   Kamiya, Kazuya & Ichimura, Hidehiko.  Nonparametric         
            restrictions of dynamic optimization behavior under risk:   
            the case of time-additive expected utility.  26p.           
     9523   Kamiya, Hidehiko & Takemura, Akimichi.  On rankings         
            generated by pairwise linear discriminant analysis of m     
            populations.  34p.                                          
     9519   Kunitomo, Naoto & Takahashi, Akihiko.  The asymptotic       
            expansion approach to the valuation of interest rates       
            contingent claims.  34p.                                    
     9524   Kuriki, Satoshi & Takemura, Akimichi.  Asymptotic expansion 
            of null distribution of likelihood ratio statistics in      
            multiparameter exponential family.....  19p.                
     9522   Matsushima, Hitoshi.  Multimarket contract, imperfect       
            monitoring, and implicit collusion.  35p.                   
     9521   Miwa, Yoshiro.  Development of an inter-firm computerized   
            information system in distribution.  35p.                   
     9528   Takemura, Akimichi & Kuriki, Satoshi.  Weights of           
            chi-bar-squared distribution for smooth or piecewise smooth 
            cone alternatives.  29p.                                    

     U.S. DEPARTMENT OF JUSTICE.  Economic Analysis Group.              

     94-2   Gilbert, Richard J. & Sunshine, Steven C.  Incorporating    
            dynamic efficiency concerns in merger analysis: the use of  
            innovation markets.  28p.                                   
     94-3   McCabe, Mark J.  Principals, agents, and the learning curve:
            the case of steam-electric power plant design and           
            construction.  20p.                                         
     94-1   Werden, Gregory J., Froeb, Luke M. & Tardiff, Timothy J.    
            The use of the logit model in applied industrial            
            organization.  25p.                                         
     95-3   Gillespie, William.  Cheap talk, price announcements, and   
            collusive coordination.  17p.                               
     95-1   Schwartz, Marius & Werden, Gregory J.  A quality-signaling  
            rationale for aftermarket tying.  19p.                      
     95-2   Werden, Gregory J. & Froeb, Luke M.  Simulation as an       
            alternative to structural merger policy in differentiated   
            products industries.  22p.                                  

     UNIVERSITA DEGLI STUDI DI VENEZIA.  Dipartimento di Scienze Econ.  

     9420   Billio, Monica.  General equilibrium models of the term     
            stucture of interest rates: the n production processes case.
             22p.                                                       
     9421   Lisi, Francesco, Medio, Alfredo & Sandri, Marco.            
            Noise-filtering by multichannel singular system analysis.   
            31p.                                                        




                                                           PAGE 119

     9502   Detemple, Jerome B. & Gottardi, Piero.  Aggregation,        
            efficiency, and mutual fund separation in incomplete        
            markets.  29p.                                              
     9511   Gottardi, Piero & Kajii, Atsushi.  Generic existence of     
            sunspot equilibria: the real asset case.  21p.              
     9509   Graziano, Clara & Parigi, Bruno.  Do managers work harder in
            competitive industries?.  15p.                              

     UNIVERSITY OF VICTORIA (BC).  Department of Economics.             

     95-2   Stewart, Kenneth G.  Exact testing in multivariate          
            regression.  34p.                                           
     95-3   Oum, Tae Hoon, Zhang, Anming & Zhang, Yimin.  Optimal       
            airport pricing in a hub-and-spoke system.  10p.            
     9504   Kennedy, Peter W. & Welling, Linda.  Parental externalities 
            and the private provision of child care.  25p.              
     9505   Welling, Linda & Bruce, Christopher.  Do sting operations   
            reduce the incidence of crime?.  24p.                       
     9508   DeBenedictis, Linda F.  A vector autoregressive model of the
            British Columbia regional economy.  34p.                    
     9507   Jacobsen, Peter W.F. & Giles, David E.A.  Income            
            distribution in the United States: Kuznets' inverted-U      
            hypothesis and data non-stationarity.  21p.                 
     9509   Zhang, Anming & Zhang, Yimin.  Stability of Cournot-Nash    
            equilibrium: the multiproduct case.  25p.                   

     UNIVERSITY OF VIENNA.  Department of Economics.                    

     9405   Dierker, Egbert & Grodal, Birgit.  Profit maximization      
            mitigates competition.  24p.                                
     9401   Fehr, Ernst, Gachter, Simon & Kirchsteiger, Georg.          
            Reciprocal fairness and noncompensating wage differentials. 
            57p.                                                        
     9306   Fehr, Ernst, Gachter, Simon & Kirchsteiger, Georg.          
            Reciprocity forces versus competitive forces: the impact of 
            entrance fees in an experimental efficiency wage market.    
            65p.                                                        
     9307   Hochreiter, Eduard & Winckler, Georg.  The advantage of     
            tying Austria's hands: the success of the hard currency     
            strategy.  23p.                                             
     9403   Kerschbamer, Rudolf & Maderner, Nina.  Optimal contracts    
            with semiordered types.  33p.                               
     9404   Kirschsteiger, Georg & Puppe, Clemens.  Intransitive choice 
            based on transitive preferences: the case of menu-dependent 
            information.  23p.                                          
     9402   Nehring, Klaus & Puppe, Clemens.  Continuous extensions of  
            an order on a set to the power set.  26p.                   
     9503   Dierker, Egbert & Grodal, Birgit.  Profit maximization,     
            relative prices, and the maximization of shareholders' real 
            wealth.  24p.                                               
     9502   Kerschbamer, Rudolf.  Hostile takeovers in correlated       
            environments.  44p.                                         
     9501   Orosel, Gerhard O.  The stock market when market            
            participation is costly.  34p.                              




                                                           PAGE 120


     UNIVERSITY OF VIRGINIA.  Center for Studies in Political Economy.  

     263    Glomm, Gerhard & Ravikumar, B.  Equilibrium theories of the 
            Kuznets curve: a review.  25p.                              
     262    Michener, Ronald & Ravikumar, B.  Chaotic dynamics in a cash
            in advance economy.  25p.                                   

     UNIVERSITY OF WARWICK.  Department of Economics.                   

     430    Masson, Paul R.  The credibility of the United Kingdom's    
            commitment to the ERM: intentions vs. actions.  36p.        
     429    Toivanen, Otto.  Oligopolistic services and cost function   
            estimation.  34p.                                           
     431    Vazquez, Jesus.  How high can inflation get during          
            hyperinflation?: a liquidity costs demand for money         
            approach.  34p.                                             
     433    Fraser, Clive.  Risk, insurance and the demand for          
            irreplaceable commodities, the case of children.  25p.      
     434    Scharf, Kimberley A.  International capital tax evasion and 
            the foreign tax credit puzzle.  23p.                        
     432    Zolkiewski, Zbigniew.  Modelling monopolistic behaviour of  
            products and households within a CGE framework: a simple    
            model for Poland.  47p.                                     
     437    Fraser, Clive D.  Market insurance, self-protection and the 
            family: a Beckerian analysis.  37p.                         
     436    Perroni, Carlo.  Income taxation, environmental emissions,  
            and technical progress.  27p.                               
     435    Smith, Jeremy & Otero, Jesus.  Structural breaks and        
            seasonal integration.  24p.                                 
     440    Arulampalam, S. Wiji, Booth, Alison & Elias, Peter.         
            Work-related training and earnings growth for young men in  
            Britain.  36p.                                              
     439    Cripps, Martin W. & Thomas, Jonathan P.  The folk theorem in
            repeated games of incomplete information.  43p.             
     441    Perroni, Carlo & Rutherford, Thomas F.  A comparison of the 
            performance of flexible functional forms for use in applied 
            general equilibrium.  16p.                                  
     438    Vagliasindi, Maria & Waterson, Michael.  New insights of the
            interactions between regulation and competition in          
            vertically related markets.  28p.                           

     UNIVERSITY OF WASHINGTON.  Institute of Economic Research.         

     9506   Chan, Hsiu-Yi & Wong, Kar-yiu.  Intra-industry trade and    
            investment.  48p.                                           
     9508   Engel, Charels.  Why is the forward exchange rate forecast  
            biased?: A survey of recent evidence.  113p.                
     9502   Leffler, Keith B., Rucker, Randal R. & Munn, Ian.           
            Transaction costs and the collection of information: presale
            measurement on private timber sales.  33p.                  
     9501   Pollak, Robert A.  Regulating risks.  36p.                  
     9503   Rose, Eliana.  Consumption smoothing and excess female      
            mortality in rural India.  28p.                             




                                                           PAGE 121

     9505   Wong, Kar-yiu.  Curvature of the production possibility     
            frontier under variable returns: was J. Tinbergen wrong?.   
            15p.                                                        
     9507   Wong, Kar-yiu.  Fundamental trade theorems under external   
            economies of scale.  32p.                                   
     9504   Wong, Kar-yiu & Yang, Xiaokai.  An extended Dixit-Stiglitz  
            model with the trade-off between economies of scale and     
            transaction costs.  28p.                                    
     9509   Barzel, Yoram.  Transaction costs and contract choice.  27p.
     9511   Barzell, Yoram & Kiser, Edgar.  The development and decline 
            of medieval voting institutions: a comparison of England and
            France.  37p.                                               
     9514   Eicher, Theo.  Interaction between endogenous human capital 
            and technological change.  28p.                             
     9513   Eicher, Theo S.  Trade, development and converging growth   
            rates: dynamic gains from trade reconsidered.  36p.         
     9510   Jaeger, William K.  Optimal environmental taxation.  29p.   
     9517   Kim, Chang-Jin & Nelson, Charles R.  Business cycle turning 
            points, a new coincident index, and tests of duration       
            dependence based on a dynamic factor m.  35p.               
     9512   Klepinger, Daniel, Lundberg, Shelly & Plotnick, Robert.     
            Instrument selection: the case of teenage childbearing and  
            women's educational attainment.  22p.                       
     9516   Lundberg, Shelly & Pollak, Robert A.  Bargaining and        
            distribution in marriage.  30p.                             
     9515   Turnovsky, Stephen J.  Endogenous growth in a dependent     
            economy with traded and nontraded capital.  37p.            

     WASHINGTON UNIVERSITY.  Center for the Study of American Business. 

     155    Warren, Melinda & Jones, Barry.  Reinventing the regulatory 
            system: no downsizing in administration plan.  36p.         

     WASHINGTON UNIVERSITY-ST. LOUIS.  Center in Political Economy.     

     182    Miller, Gary & Cook, Kathleen.  Leveling and leadership in  
            states and firms.  57p.                                     
     179    Schofield, Norman.  Coalition politics: a formal and        
            empirical analysis.  66p.                                   
     178    Schofield, Norman.  Multiparty electoral politics.  34p.    
     180    Schofield, Norman.  Research programs in preference and     
            belief aggregation.  25p.                                   
     177    Sened, Itai.  A model of coalition formation: theory and    
            evidence.  38p.                                             
     181    Smith, Alastair.  Diversionary foreign policy in democratic 
            systems.  38p.                                              

     WASHINGTON UNIVERSITY-ST. LOUIS.  Department of Economics.         

     193    Barnett, William A., et al.  Estimating policy-invariant    
            technology and taste parameters in the financial sector,    
            when risk & growth matter.  65p.                            
     194    Barnett, William A. & Liu, Yi.  The CAPM-extended divisia   
            monetary aggregate with exact tracking under risk.  22p.    




                                                           PAGE 122

     196    Barnett, William A. & Xu, Haiyang.  Money velocity with     
            interest rate stochastic volatility and exact aggregation.  
            30p.                                                        
     195    Sau, Ranjit.  Some notes on international monetary reform.  
            22p.                                                        
     197    Kinghorn, Janice R. & Nye, John V.  The scale of production 
            in Western economic development: a comparison of official   
            industry statistics in the U.S., .  41p.                    
     198    Chib, Siddhartha & Greenberg, Edward.  Bayesian analysis of 
            the multivariate probit model.  23p.                        

     UNIVERSITY OF WATERLOO.  Department of Economics.                  

     9504   Andolfatto, David & MacDonald, Glenn M.  Endogenous         
            technological change, growth, and aggregate fluctuations.   
            39p.                                                        
     9503   Andolfatto, David & MacDonald, Glenn M.  Technological      
            innovation, diffusion, and business cycle dynamics.  18p.   
     9501   Bossert, Walter.  Choices, consequences, and rationality.   
            27p.                                                        
     9505   Melvin, James R.  History and measurement in the service    
            sector: a review.  23p.                                     
     9506   Melvin, James R.  Services in an information economy.  45p. 
     9508   Amano, Robert A. & Wirjanto, Tony S.  Intertemporal         
            substitution, imports and the permanent income.  25p.       
     9502   Andolfatto, David & Gomme, Paul.  Unemployment insurance,   
            labor market dynamics, and social welfare.  39p.            
     9507   Ho, Wai-Ming.  Imperfect information, money and economic    
            growth.  28p.                                               
     9509   Kardasz, Stanley W. & Stollery, Kenneth R.  International   
            competitiveness and price formation in Canadian             
            manufacturing industries.  20p.                             

     UNIVERSITY OF WESTERN ONTARIO.  Department of Economics.           

     9420   Chung, Tai-Yeong.  Commitment through specific investment in
            contractual relationships.  45p.                            
     9422   Chung, Tai-Yeong.  Settlement of litigation under Rule 68:  
            an economic analysis.  40p.                                 
     9421   Cowan, Robin & Cowan, William.  Local externalities and     
            spatial equilibria: technological standardization and the   
            preservation of variety.  25p.                              
     9419   Cowan, Robin & Gunby, Philip.  Sprayed to death: pest       
            control strategies and technological lock-in.  26p.         
     9417   Laidler, David.  The emergence of the Phillips curve as a   
            policy menu.  34p.                                          
     9418   Laidler, David & Robson, William.  Endogenous buffer stock  
            money.  35p.                                                
     9502   Carr, Jack, Mathewson, Frank & Quigley, Neil.  The economics
            of Canadian deposit insurance.  39p.                        
     9501   Gravelle, Toni.  What is old is new again.  22p.            
     9504   Bowlus, Audra J.  A search interpretation of male-female    
            differentials.  37p.                                        
     9503   Green. Gordon R.  Market institutions and core allocations. 
            21p.                                                        



                                                           PAGE 123

     9505   Heckman, James J. & Smith, Jeffrey A.  Ashenfelter's dip and
            the determinants of participation in a social program:      
            implications for program evaluation...  75p.                
     9507   Cowan, Robin & Cowan, William.  Spatially dependent         
            interactions: a statistical approach to spatial equilibria, 
            technological standardization and v.  17p.                  
     9506   Zeng, Jinli.  Innovative vs. imitative R & D and economic   
            growth.  68p.                                               
     9508   Cooley, Thomas F., Greenwood, Jeremy & Yorukoglu, Mehmet.   
            The replacement problem.  37p.                              
     9509   Cowan, Robin & Foray, Dominique.  Quandaries in the         
            economics of dual technologies and spillovers from military 
            to civilian research and development.  25p.                 
     9510   Greenwood, Jeremy, Hercowitz, Zvi & Krusell, Per.  Long-run 
            implications of investment specific technological change.   
            32p.                                                        

     UNIVERSITY OF WISCONSIN.  Social Systems Research Institute.       

     9440   Allen, Beth, et al.  Capacity precommitment as a barrier to 
            entry: a Bertrand-Edgeworth approach.  50p.                 
     9452   Che, Yeon-Koo & Gale, Ian.  Auctions with financially       
            constrained bidders.  39p.                                  
     9432   Che, Yeon-Koo & Gale, Ian.  Caps on political lobbying: the 
            impact on total expenditures and total surplus.  13p.       
     9433   Che, Yeon-Koo & Gale, Ian.  Rent dissipation with           
            differential lobbying costs.  23p.                          
     9439   Deneckere, Raymond J. & Kovenock, Dan.  Capacity-constrained
            price competition when unit costs differ.  51p.             
     9450   Dominitz, Jeff & Manski, Charles F.  Eliciting student      
            expectations of the return to schooling.  36p.              
     9444   Dominitz, Jeff & Manski, Charles F.  Using expectations data
            to study subjective income expectations.  27p.              
     9443   Durlauf, Steven N.  A theory of persistent income           
            inequality.  40p.                                           
     9437   Fung, K.C. & Staiger, Robert W.  Trade liberalization and   
            trade adjustment assistance.  31p.                          
     9435   Jones, Larry E. & Manuelli, Rodolfo E.  Growth and the      
            effects of inflation.  31p.                                 
     9446   LeBaron, Blake.  Chaos and nonlinear forecastability in     
            economics and finance.  15p.                                
     9445   LeBaron, Blake.  Technical trading rule profitability and   
            foreign exchange intervention.  12p.                        
     9447   LeBaron, Blake & Weigend, Andreas S.  Evaluating neural     
            network predictors by bootstrapping.  8p.                   
     9442   Lin, Wen-Ling.  Interdependence between international stock 
            returns: news or contagion effect?.  33p.                   
     9438   Mailath, George J., Samuelson, Larry & Swinkels, Jeroen M.  
            How proper is sequential equilibrium?.  24p.                
     9448   Muniagurria, Maria E. & Singh, Nirvikar.  Foreign           
            technology, spillovers and R & D policy.  31p.              
     9449   Rust, John.  Numerical dynamic programming in economics.    
            144p.                                                       
     9429   Rust, John.  Using randomization to break the curse of      
            dimensionality.  50p.                                       



                                                           PAGE 124

     9430   Rust, John & Phelan, Christopher.  How Social Security and  
            Medicare affect retirement behavior in a world of incomplete
            markets.  75p.                                              
     9451   Staiger, Robert W.  International rules and institutions for
            trade policy.  69p.                                         
     9436   Staiger, Robert W. & Wolak, Frank A.  Differences in the    
            uses and effects of antidumping law across import sources.  
            52p.                                                        
     9434   West, Kenneth D.  Another heteroskedasticity and            
            autocorrelation consistent covariance matrix estimator.     
            24p.                                                        
     9504   Bagwell, Kyle & Staiger, Robert W.  Collusion over the      
            business cycle.  52p.                                       
     9511   Bagwell, Kyle & Staiger, Robert W.  Protection and the      
            business cycle.  43p.                                       
     9503   Baker, Carol L. & Lin, Wen-Ling.  Credibility of Mexico's   
            crawling peg policy: evidence from expectations panel data. 
            34p.                                                        
     9506   Brock, William A. & Hommes, Cars H.  Rational routes to     
            randomness.  93p.                                           
     9509   Che, Yeon-Koo.  Customer return policies for experience     
            goods.  13p.                                                
     9510   Che, Yeon-Koo & Gale, Ian.  Entry fees vs. reserve prices in
            first price sealed bid auctions.  18p.                      
     9501   Che, Yeon-Koo & Earnhart, Dietrich.  Optimal use of         
            information in litigation: should regulatory information be 
            withheld to deter frivolous suits?.  28p.                   
     9508   Deneckere, Raymond & McAfee, R. Preston.  Damaged goods.    
            27p.                                                        
     9507   Deneckere, Raymond, Marvel, Howard P. & Peck, James.  Demand
            uncertainty and price maintenance: markdowns as destructive 
            competition.  31p.                                          
     9502   Goldberger, Arthur S. & Manski, Charles F.  Review article: 
            "The Bell Curve" by Herrnstein and Murray.  36p.            
     9505   Manski, Charles F.  Learning about social programs from     
            experiments with random assignment of treatments.  52p.     

     WORLD INSTITUTE FOR DEVELOPMENT ECONOMICS RESEARCH(United Nations) 

     116    Moghadam, Valentine M.  Market reforms and women workers in 
            Vietnam: a case study of Hanoi and Ho Chi Minh City.  37p.  
     117    Salih, Siddig A.  Sustainable ecosystems in Africa: managing
            natural forest in Sudan.  40p.                              
     118    Endale, Derseh.  Employment-based safety nets: exploring an 
            alternative approach to limit the adverse consequences of   
            recurrent drou.  49p.                                       

     YALE UNIVERSITY.  Economic Growth Center.                          

     713    Evenson, Robert E. & Gollin, Douglas.  Genetic resources,   
            international organizations, and rice varietal improvement. 
            38p.                                                        
     717    Levy, Philip I.  Lobbying and international cooperation in  
            tariff setting.  28p.                                       




                                                           PAGE 125

     718    Levy, Philip I.  A political economic analysis for free     
            trade agreements.  36p.                                     
     712    Ranis, Gustav.  The World Bank near the turn of the century.
             30p.                                                       
     716    Sala-i-Martins, Xavier.  Regional cohesion: evidence and    
            theories of regional growth and convergence.  46p.          
     715    Sala-i-Martin, Xavier & Barro, Robert J.  Quality           
            improvements in models of growth.  43p.                     
     714    Singh, Lakwinder.  Productivity, competitiveness, and export
            growth in a less developed economy: a study of Indian       
            Punjab.  27p.                                               
     724    Ranis, Gustav & Stewart, Frances.  V-goods and the role of  
            the urban informal sector in development.  46p.             
     722    Sala-i-Martin, Xavier & Mulligan, Casey B.  A labor         
            income-based measure of the value of human capital: an      
            application to the states of the United States.  61p.       
     723    Sala-i-Martin, Xavier & Mulligan, Casey B.  Measuring       
            aggregate human capital.  48p.                              
     720    Schultz, T. Paul.  Evaluation of integrated human resource  
            programs.  27p.                                             
     719    Schultz, T. Paul.  Integrated approaches to human resource  
            development.  33p.                                          
     725    Shiller, Robert J. & Athanasoulis, Stefano.  World income   
            components: measuring and exploiting international risk     
            sharing opportunities.  69p.                                
     721    Srinivasan, T.N. & Bhagwati, Jagdish.  Trade and the        
            environment: does environmental diversity detract from the  
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     728    Boozer, Michael & Rouse, Cecilia.  Intraschool variation in 
            class size: patterns and implications.  43p.                
     731    Evenson, Robert E. & Mwabu, Germano.  Household composition 
            and expenditures on human capital formation in Kenya.  58p. 
     726    Guinnane, Timothy W. & Miller, Ronald I.  The limits to land
            reform: the Land Acts in Ireland, 1870-1909.  31p.          
     727    Lanjouw, Jean O.  Information and the operation of markets: 
            tests based on a general equilibrium model of land leasing  
            in India.  37p.                                             
     729    Schultz, T. Paul.  Immigrant quality and assimilation: a    
            review of the literature.  20p.                             
     730    Shiller, Robert J. & Schneider, Ryan.  Labor income indices 
            designed for use in contracts promoting income risk         
            management.  38p.                                           
     732    Subramaniam, Ramesh.  Gender-bias in India: the importance  
            of household fixed effects.  31p.                           

     YORK UNIVERSITY.  Department of Economics.                         

     95-3   Handy, Femida.  Reputation as collateral: the role of       
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     95-4   Haug, Alfred.  The power of cointegration tests: does the   
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     95-2   Mansoorian, Arman & Myers, Gordon M.  On the consequences of
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            22p.                                                        




                                                           PAGE 126

     95-1   Mansoorian, Arman & Myers, Gordon M.  Private sector versus 
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     95-8   Bucovetsky, S.  The optimal majority with an endogenous     
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     95-7   Fienberg, Stephen E. & Jazairi, Nuri.  Stanley Warner's     
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            technology.  16p.                                           
     95-5   Lu, Jing.  Aggregate disturbances or sectoral shifts:       
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     95-6   Lu, Jing.  Employment dispersion as a measure for aggregate 
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     876    Mendelsohn, Robert, Nordhaus, William D. & Shaw, Daigee.    
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     878    Phillips, Peter C.B. & Ploberger, Werner.  Posterior odds   
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     880    Scarf, Herbert E.  The allocation of resources in the       
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     877    Tobin, James.  Poverty in relation to macroeconomic trends. 
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     887    Andrews, Donald W.K.  Empirical process methods in          
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     888    Barany, Imre, Howe, Roger & Scarf, Herbert E.  The complex  
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     882    Geanakoplos, John.  Common knowledge.  0p.                  
     886    Hajivassiliou, Vassilis A. & Rudd, Paul A.  Classical       
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     884    Karatzas, Ioannis, Shubik, Martin & Sudderth, William.      
            Construction of stationary Markov equilibria in a strategic 
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     883    Nordhaus, William D.  Policy games: coordination and        
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     885    Phillips, Peter C.B. & Van Dijk, Herman K.  Bayes methods   
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     890    Phillips, Peter C.B. & Toda, Hiro Y.  Vector autoregression 
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     889    Nordhaus, William D.  Climate and economic development.  0p.
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     891    Zivot, Eric & Phillips, Peter C.B.  A Bayesian analysis of  
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     898    Bewley, Truman F.  A depressed labor market as explained by 
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     894    Corbae, Dean, Ouliaris, Sam & Phillips, Peter C.B.  A       
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                                                           PAGE 127

     896    Klevorick, Alvin K., et al.  On the sources and significance
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             0p.                                                        
     897    Phillips, Peter C.B.  Bayes models and forecasts of         
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     893    Phillips, Peter C.B.  Nonstationary time series and         
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     895    Tobin, James.  International currency regimes, capital      
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     156    Kariya, Takeaki & Tsuda, Hiroshi.  New bond pricing models  
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     155    Okura, Masanori & Teranishi, Juro.  Exchange rate and       
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     157    Fukuda, Shin-ichi & Teruyama, Hiroshi.  The sustainability  
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     158    Kuboniwa, Masaaki.  The structure of Russian foreign trade  
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     159    Takayama, Noriyuki.  The 1994 reform bill for public        
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                                                           PAGE 128

     495    Hamada, Koichi & Honda, Tetsushi.  Engine of the rising sun:
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     497    Hamada, Koichi.  Japan's prospective role in the            
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     494    Ranis, Gustav & Stewart, Frances.  Decentralization in      
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     500    Srinivasan, T.N.  Data base for development analysis: an    
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