New Acquisitions - January - December 1996

 
                                                       PAGE   1


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

     9405   Lahiri, Kajal & Paul, Manimoy.  Risk comparisons among      
            restricted least squares, pre-test and OLS estimators under 
            model mis-specification: omissio.  41p.                     

     UNIVERSITY OF ALBERTA.  Department of Economics.                   

     9512   Boothe, Paul.  The new approach to budgeting in Alberta.    
            22p.                                                        
     9513   Tamaschke, R., Docwra, G. & Stillman, R.  Estimating end    
            user supply costs in a widespread electricity system.  21p. 
     96-1   Landon, Stuart.  High school enrollment, minimum wages and  
            education spending.  30p.                                   
     96-2   Sharir, Shmuel.  Effects of antidiscrimination laws on      
            equally productive employees of nonprejudicial              
            discriminatory monopsonists.  21p.                          
     96-6   Buse, A.  On the equivalence of pooled and mixed estimation.
             13p.                                                       
     96-3   Buse, A.  Testing homogeneity in the linearized almost ideal
            demand system.  33p.                                        
     96-4   Landon, Stuart.  Education costs and institutional          
            structure.  34p.                                            
     96-5   Lindsey, Robin.  Effects of driver information in the       
            bottleneck model.  44p.                                     

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

     9519   Iturbe-Ormaetxe, Inigo.  Redistribution and individual      
            characteristics.  19p.                                      
     9520   Marco, M. Carmen, Peris, Josep E. & Subiza, Begona.  A      
            mechanism for meta-bargaining problems.  24p.               
     9521   Olcina, Gonzalo & Urbano, Amparo.  Signalling games and     
            incentive dominance.  44p.                                  
     9602   Chatterji, Shurojit.  Temporary equilibrium with learning:  
            the stability of random walk beliefs.  24p.                 
     9525   Corchon, Luis C. & Herrero, Carmen.  A decent proposal.     
            36p.                                                        
     9522   Cunat-Lopez, Javier M.  Multiple adverse selection.  56p.   
     9523   Herrero, Carmen, Iturbe-Ormaetxe, Inigo & Nieto, Jorge.     
            Ranking social decisions without individual preferences on  
            the basis of opportunities.  24p.                           
     9524   Marco-Gil, M. Carmen.  The extended claim-egalitarian       
            solution across cardinalities.  32p.                        
     9601   Ortuno-Ortin, Ignacio.  A spatial model of political        
            competition and proportional representation.  16p.          
     9603   Peitz, Martin.  Marketing cooperation for differentiated    
            products.  28p.                                             
     9604   Herrero, Carmen, Maschler, Michael & Villar, Antonio.       
            Individual rights and collective responsibility: the        
            rights-egalitarian solution.  21p.                          
     9606   Karandikar, Rajeeva, et al.  Evolving aspirations and       
            cooperation.  34p.                                          




                                                           PAGE   2

     9605   Vega-Redondo, Fernando.  The evolution of Walrasian         
            behavior.  20p.                                             
     9611   Leon, Angel & Mora, Juan.  Modelling conditional            
            heteroskedasticity: application to stock return index       
            "IBEX-35".  40p.                                            
     9610   Moreno, Bernardo.  The uniform rule in economies with single
            peaked preferences, endowments and population monotonicity. 
            28p.                                                        
     9608   Peris, Josep E. & Subiza, Begona.  Numerical representation 
            for lower quasi-continuous preferences.  13p.               
     9609   Sanchez, M. Carmen.  Rationality of bargaining solutions.   
            48p.                                                        
     9607   Tauman, Yair, Urbano, Amparo & Watanabe, Junichi.  A model  
            of multiproduct price competition.  48p.                    
     9613   Alcalde, Jose & Romero-Medina, Antonio.  Simple mechanism to
            implement the core of college admissions problems.  28p.    
     9614   Herrero, Carmen & Villar, Antonio.  Agenda independence in  
            allocation problems with single-peaked preferences.  24p.   
     9615   Fauli, Ramon.  Mergers for market power in a Cournot setting
            and merger guidelines.  30p.                                

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

     145    Arin, J. & Inarra, E.  On the nucleolus of convex games.    
            27p.                                                        
     141    Barcena-Ruiz, Juan Carlos & Espinosa, Maria Paz.  Long-term 
            or short-term managerial incentive contracts.  22p.         
     142    Caballe, Jordi & Krishnan, Murugappa.  The sources of risk  
            in a dynamic financial market with insider trading.  28p.   
     137    Campos e Cunha, Luis & Santos, Vasco.  Quantity versus      
            quality: are they substitutes in restricted trade? (A       
            general equilibrium approach).  26p.                        
     144    Escapa, Marta & Gutierrez, Maria Jose.  Distribution of     
            potential gains from international environmental agreements:
            the case of the greenhouse effect.  25p.                    
     143    Espinosa, Maria Paz & Inarra, Elena.  Von Neumann and       
            Morgenstern stable sets in a merger game.  32p.             
     140    Pavardin, Pierre & Soubeyran, Antoine.  Firm attraction by a
            local jurisdiction: a principal-agent approach.  31p.       
     147    Gardeazabal, Javier & Vazquez, Jesus.  Cointegration versus 
            saddle-path dynamics.  22p.                                 
     146    Perez-Castrillo, J. David & Sandonis, Joel.  Disclosure of  
            know-how in research joint ventures.  30p.                  
     138    Pascoa, Mario Rui.  Nash equilbrium and the law of large    
            numbers.  17p.                                              
     139    Van Long, Ngo & Soubeyran, Antoine.  Oligopolistic trade and
            competition in wages legislation.  13p.                     
     151    Aguirre-Perez, Inaki.  Most favored customer pricing policy 
            as an entry deterrence device.  27p.                        
     149    Aguirre-Perez, Inaki.  Uniform pricing: good or bad news    
            about market profitability?.  31p.                          
     152    Crettez, Bertrand, Michel, Phillipe & Vidal, Jean-Pierre.   
            Time preference and factor mobility in an overlapping       
            generations model with land.  15p.                          




                                                           PAGE   3

     148    d'Aspremont, C., Dos Santos-Ferreira, R. & Gerard-Varet,    
            L.A.  Imperfect competition and general equilibrium elements
            for a new approach.  36p.                                   
     153    Davidson, Russell & MacKinnon, James G.  The size and power 
            of bootstrap tests.  33p.                                   
     154    Garella, Paolo G. & Richelle, Yves.  Exit, sunk costs and   
            the selection of firms.  23p.                               
     150    Iza, Amaia.  Human capital and R & D activities in a        
            Schumpeterian endogenous growth model.  24p.                
     155    Iza, Amaia & Echevarria, Cruz A.  Income taxation and finite
            horizons in a human capital growth model.  35p.             

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

     71     Lianos, Theodore P.  The rate of profit and crises in a     
            socialist economy.  7p.                                     
     72     Lianos, Theodore P. & Daouli, Joan.  Employment functions   
            and austerity programs: the case of Greek manufacturing.    
            18p.                                                        
     64     Apospori, Eleni, Vega, William & Gill, Andres.  Assessing   
            the usefulness of collateral data: a multi-trait,           
            multi-method model.  27p.                                   
     66     Demopoulos, George D. & Yannacopoulos, Nicholas A.  A note  
            on the theory of monetary unions.  8p.                      
     69     Hassapis, Christis, Pittis, Nikitas & Prodromidis,          
            Kyprianos.  Unit roots and Granger causality in the EMS     
            interest and inflation rates: the German dominance          
            hypothesis revisted.  33p.                                  
     67     Jafarey, Saqib, Kaskarelis, Yannis & Miaouli, Natasha.  Wage
            determination and capital decisions in a dynamic monopoly   
            union model.  19p.                                          
     65     Louri, Helen.  Mergers and acquisitions in the Greek        
            economy, 1987-93: sectoral restructuring and modernization  
            prospects.  19p.                                            
     68     Minoglou, Ioanna P. & Louri, Helen.  Diaspora               
            entrepreneurial networks of the Black Sea and Greece,       
            1870-1917.  28p.                                            
     73     Petrakis, Emmanuel & Vlassis, Minas.  Endogenous            
            wage-bargaining institutions in oligopolistic industries.   
            26p.                                                        
     74     Gatsios, Konstantine, Kollintzas, Tryphon & Lagopoulos,     
            Costas.  A time consistent solution to the stochastic       
            dynamic strategies export subsidy problem with two          
            governments.  52p.                                          
     75     Bitros, George C.  Competition, ownership and economic      
            efficiency.  29p.                                           
     70     Demopoulos, George D. & Kapopoulos, Panayotis T.            
            Macroeconomics of populism and expectational core inflation:
            evidence from Greece.  31p.                                 
     77     Petrakis, Emmanuel & Vlassis, Minas.  Endogenous scope of   
            bargaining in oligopoly.  23p.                              
     76     Vassos, Spyros & Vlachou, Andriana.  Evaluating the impact  
            of carbon taxes on the electricity supply industry.  29p.   
     60     Baltas, Nicholas.  Interactions between agricultural credit 
            and private investment: empirical evidence and policy       
            implications.  15p.                                         


                                                           PAGE   4

     59     Baltas, Nicholas & Korka, Ourania.  Modelling farmers' land 
            use decisions.  22p.                                        
     79     Demopoulos, George D. & Yannacopoulos, Nicholas A.          
            Stability of a monetary union: theoretical considerations.  
            21p.                                                        
     80     Gatsios, Konstantine, Hatzipanayotou, Panos & Michael,      
            Michael S.  International migration, welfare, and the       
            provision of public goods.  16p.                            
     81     Kollintzas, Tryphon & Vassilatos, Vanghelis.  A stochastic  
            dynamic general equilibrium model for Greece.  42p.         
     82     Baltas, Nicholas C.  Private investment and the demand for  
            loanable funds in the Greek agricultural sector.  30p.      

     AUSTRALIAN NATIONAL UNIVERSITY.  Faculty of Economics.             

     292    Chambers, Robert G. & Quiggin, John.  Exploitation and      
            efficiency in agarian contracts.  21p.                      
     293    Chambers, Robert G. & Quiggin, John.  Separation and hedging
            results with state-contingent production.  35p.             
     295    Jones, Glenn & Savage, Elizabeth.  Should income splitting  
            replace Australia's personal income tax?.  20p.             
     296    Jones, Glenn & Savage, Elizabeth.  Unions and clerical rates
            of pay.  20p.                                               
     294    Quiggin, John & Chambers, Robert G.  A state-contingent     
            production approach to moral-hazard problems with an        
            application to point-source pollution contr.  28p.          
     297    Garvey, Gerald T., Grant, Simon & King, Stephen P.  Talking 
            down the firm: short-term market manipulation and optimal   
            management compensation.  14p.                              
     298    Grant, Simon, Kajii, Atsushi & Polak, Ben.  Preference for  
            information.  43p.                                          
     303    Jones, Chris, Menezes, Flavio & Vella, Frank.  Auction price
            anomalies: evidence from wool auctions in Australia.  29p.  
     302    Menezes, Flavio M. & Monteiro, Paulo K.  Simultaneous pooled
            auctions.  17p.                                             
     299    Pitchford, J.D.  Relative prices and uneven growth.  15p.   
     301    Apps, P.F. & Rees, R.  Collective labor supply and household
            production.  18p.                                           
     307    Garvey, Gerald T., Grant, Simon & King, Stephen P.  A model 
            of myopic corporate behaviour with efficient stock markets  
            and optimal management incentive contracts.  17p.           
     306    Hooper, Vince & Pointon, John.  Call features and term to   
            maturity of callable foreign bonds.  10p.                   
     305    Hooper, Vince & Pointon, John.  The valuation of the option 
            to expropriate a multinational enterprise's assets.  8p.    
     304    Lau, Sau-Him Paul.  Testing the long run effect of          
            investment on output in the presence of cointegration.  30p.
     309    Meagher, Kieron J.  Efficient hierarchies: equivalence under
            differing employment regimes.  30p.                         
     308    Pitchford, Rohan & Snyder, Christopher M.  Property rights  
            and incomplete contracts: dealing with nuisance.  43p.      

     BANCO DE ESPANA.  Servicio de Estudios.                            

     9601   Ayuso, Juan, Nunez, Soledad & Perez-Jurado, Maria.          
            Volatility in Spanish financial markets: the recent         
            experience.  51p.                                           

                                                           PAGE   5

     9603   Dluhosch, Barbara.  On the fate of newcomers in the European
            Union: lessons from the Spanish experience.  44p.           
     9531   Ayuso, Juan & Jurado, Maria P.  Devaluation and depreciation
            expectations in the European Monetary System.  43p.         
     9604   Fernandez de Lis, Santiago.  Classification of central banks
            by autonomy: a comparative analysis.  39p.                  
     9529   Huertas, Juan A.  Is there a trade-off between exchange rate
            risk and interest rate risk?.  48p.                         
     9606   Krueger, Malte.  Speculation, hedging and intermediation in  
            the foreign exchange market.  89p.                          
     9607   Maravall, Agustin.  Short-term analysis of macroeconomic    
            time series.  36p.                                          
     9609   Maravall, Agustin.  Unobserved components in economic time  
            series.  65p.                                               
     9608   Maravall, Agustin & Planas, Christophe.  Estimation error   
            and the specification of unobserved component models.  44p. 
     9610   Canzoneri, Matthew B., Diba, Behzad & Eudey, Gwen.  Trends  
            in European productivity and real exchange rates.  46p.     
     9613   Ayuso, Juan & Vega, Juan L.  An empirical analysis of the   
            peseta's exchange rate dynamics.  30p.                      
     9612   Maravall, Agustin & Pena, Daniel.  Missing observations and 
            additive outliers in time series models.  51p.              
     9615   Alberola-Ila, Enrique.  Optimal exchange rate targets and   
            macroeconomic stabilization.  53p.                          
     9611   Alonso, Francisco, Martinez-Pages, Jorge & Perez-Jurado,    
            Maria.  Weighted monetary aggregates: an empirical approach.
             34p.                                                       
     9620   Bell, Una-Louise.  Adjustment costs, uncertainty and        
            employment inertia.  46p.                                   
     9617   Dolado, Juan J. & Marmol, Francesc.  Efficient estimation of
            cointegrating relationships among higher order and          
            fractionally integrated processes.  37p.                    
     9605   Manzano-Frias, Maric C. & Galmes-Belmonte, Sofia.  Credit   
            institutions' price policies and type of customer: impact on
            the monetary transmission mechanism.  61p.                  
     9616   Padilla, A. Jorge, Bentolilia, Samuel & Dolado, Juan J.     
            Wage bargaining in industries with market power.  54p.      
     9626   Canzoneri, Matthew B., Valles, Javier & Vinals, Jose.  Do   
            exchange rates move to address international macroeconomic  
            imbalances?.  51p.                                          
     9622   Conklin, James.  Computing value correspondences for        
            repeated games with state variables.  27p.                  
     9623   Conklin, James.  The theory of sovereign debt and Spain     
            under Philip II.  35p.                                      
     9625   Nieto Carol, Maria J.  Central and Eastern European         
            financial systems: towards integration in the European      
            Union.  58p.                                                
     9624   Vinals, Jose & Jimeno, Juan F.  Monetary union and European 
            unemployment.  62p.                                         

     BANK OF JAPAN.  Institute for Monetary & Economic Studies.         

     96-6   Fujiki, Hiroshi & Mulligan, Casey B.  Production, financial 
            sophistication, and the demand for money by household and   
            firms.  49p.                                                



                                                           PAGE   6

     96-7   Fujiki, Hiroshi & Mulligan, Casey B.  A structural analysis 
            of money demand: cross-sectional evidence from Japan.  89p. 
     96-2   Mori, Atutoshi, Ohsawa, Makoto & Shimizu, Tokiko.  A        
            framework for more effective stress testing.  31p.          
     96-1   Nishida, Shinji.  The "domino effect of defaults" and its   
            implications for regulatory actions.  24p.                  
     96-3   Okada, Shumpei, Harada, Eiji & Tsunoda, Fumihiko.           
            Integration of credit risk with market risk in asset        
            liability management.  31p.                                 
     96-4   Shimizu, Tokiko & Yamashita, Tsukasa.  Dynamic micro and    
            macro stress simulation.  30p.                              
     96-5   Watanabe, Toshiaki.  Intraday price volatility and trading  
            volume: a case of the Japanese government bond futures.     
            34p.                                                        
     9610   Baba, Naohiko.  Empirical studies on the recent decline in  
            bank lending growth: an approach based on asymmetric        
            information.  34p.                                          
     96-8   Mori, Atsutoshi, Ohsawa, Makoto & Shimizu, Tokiko.          
            Calculation of value at risk and risk/return simulation.    
            56p.                                                        
     96-9   Soejima, Yutaka.  The long-run relationship between real    
            GNP, money supply, and price level: reexamination of        
            cointegration test.  37p.                                   
     9617   Briault, Clive, Haldane, Andrew & King, Mervyn.             
            Independence and accountability.  37p.                      
     9618   Bruni, Franco.  Central bank independence in the European   
            Union.  40p.                                                
     9614   Friedman, Benjamin M.  The rise and fall of money growth    
            targets as guidelines for U.S. monetary policy.  39p.       
     9613   Laidler, David.  Inflation control and monetary policy      
            rules.  32p.                                                
     9611   Meltzer, Allan H.  On making monetary policy more effective 
            domestically and internationally.  33p.                     
     9615   Neumann, Manfred J.M.  Monetary targeting in Germany.  28p. 
     9619   Okina, Kunio.  The policy objectives and the optimal        
            institutional framework of a central bank.  27p.            
     9620   Padoa-Schioppa, Tommaso.  Styles of monetary management.    
            24p.                                                        
     9612   Taylor, John B.  Policy rules as a means to a more effective
            monetary policy.  14p.                                      
     9616   Ueda, Kazuo.  Japanese monetary policy: rules or            
            discretion?, part II.  24p.                                 
     9622   Dellas, Harris, Diba, Behzad & Garber, Peter.  Resolving    
            failed banks: the U.S. S & L experience.  38p.              
     9624   Kunitomo, Naoto & Sato, Seisho.  Estimation of asymmetrical 
            volatility for asset prices: the simultaneous switching     
            ARIMA approach.  29p.                                       
     9621   McCallum, Bennett T.  Inflation targeting in Canada, New    
            Zealand, Sweden, the United Kingdom, and in general.  36p.  
     9623   Yamazaki, Akira.  Foreign exchange netting and systemic     
            risk.  43p.                                                 
     9627   Oda, Nobuyuki.  A note on the estimation of Japanese        
            government bond yield curves.  18p.                         
     9625   Seno'o, Morio.  Yamada Hagaki and the history of paper      
            currency in Japan.  29p.                                    



                                                           PAGE   7

     9626   Ueda, Michio, Taguchi, Isamu & Saito, Tsutomu.              
            Non-destructive analysis of the fineness of Kobans in the   
            Yedo period.  33p.                                          

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

     303    Antolin, P.  Gross worker flows: how does the Spanish       
            evidence fit the stylised facts?.  41p.                     
     307    de la Fuente, Angel & Marin, Jose Maria.  Innovation, "bank"
            monitoring and endogenous financial development.  40p.      
     304    Fairburn, James A. & Malcomson, James M.  Performance,      
            promotion, and the Peter Principle.  30p.                   
     305    Vives, Xavier.  Social learning and rational expectations.  
            14p.                                                        
     301    Antolin, P.  What happened to job search behavior in Spain  
            during the recovery period (1987- 1991)?.  39p.             
     312    Brusco, Sandro.  A note on cost minimization in general     
            equilibrium models.  15p.                                   
     309    Caballe, Jordi.  Growth effects of fiscal policy under      
            altruism and low elasticity of intertemporal substitution.  
            26p.                                                        
     316    de la Fuente, Angel.  Assessing the effects of economic     
            integration on growth and welfare.  74p.                    
     314    de la Fuente, Angel.  Catch-up, growth and convergence in   
            the OECD.  44p.                                             
     311    Kovenock, Dan & de Vries, Casper G.  The all-pay auction    
            with complete information.  23p.                            
     310    Kovenock, Dan & de Vries, Casper G.  Fiat exchange in finite
            economies.  34p.                                            
     313    Kovenock, Dan & Phillips, Gordon M.  Capital structure and  
            product market behavior: an examination of plant exit and   
            investment decisions.  38p.                                 
     302    Marmol, Francesc.  Spurious multicointegration.  21p.       
     317    Palomino, Frederic.  Market manipulation and the weekend    
            effect.  24p.                                               
     308    Palomino, Frederic.  On the survival of strictly dominated  
            strategies in large populations.  16p.                      
     298    Pastor-Gosalbez, Maite.  Cost reducing strategies.  22p.    
     315    Phelan, Christopher & Trejos, Alberto.  Optimal sectoral    
            shifts.  22p.                                               
     318    Sakovics, Jozsef & Ponsati, Clara.  Rubinstein bargaining   
            with two-sided options.  4p.                                
     319    Bhattacharya, Sugato & Singh, Rajdeep.  The allocation of   
            residual rights.  33p.                                      
     322    Brusco, Sandro.  Perfect Bayesian implementation in economic
            environments.  32p.                                         
     323    Burguet, Roberto & Vives, Xavier.  Social learning and      
            costly information acquisition.  41p.                       
     321    Martinez-Alier, Joan & O'Connor, Martin.  Ecological and    
            economic distribution conflicts.  38p.                      
     320    Barros, Fatima & Macho-Stadler, Ines.  Competition for      
            managers and market efficiency.  22p.                       
     326    Barros, Pedro & Martinez-Giralt, Xavier.  The impact of the 
            "Chunnel" on the location of production activities.  27p.   




                                                           PAGE   8

     328    Brusco, Sandro.  Organizational dynamics.  22p.             
     329    Chatterji, Shurojit & Chattopadhyay, Subir.  Global         
            stability in spite of "local instability" with learning in  
            general equilibrium models: a generalization.  23p.         
     332    Chamorro, Jose-Maria.  Spatial dispersion in Cournot        
            competition.  16p.                                          
     324    Corchon, Luis C. & Fradera, Isabel.  Comparative statics in 
            free entry Cournot equilibrium.  21p.                       
     316    de la Fuente, Angel.  Assessing the effects of economic     
            integration on growth and welfare, II.  75p.                
     325    Dutta, Bhaskar.  Stability of matchings when individuals    
            have preferences over colleagues.  17p.                     
     327    Kuhn, Kai-Uwe & Padilla, A. Jorge.  A theory of union power 
            and labor turnover.  42p.                                   
     333    Berga Colom, Dolors.  Strategy-proofness and                
            single-plateaued preferences.  28p.                         
     334    Burguet, R. & Sempere, J.  Environmental protection under   
            bilateral trade and imperfect competition: free trade versus
            strategic tariffs.  21p.                                    
     335    Mainquet, F.  An equal right solution to the compensation   
            responsibility dilemma.  22p.                               
     347    Munda, G.  Operationalising equity issues in environmental  
            management: a fuzzy coalition formation approach.  21p.     
     339    Petith, Howard.  The elasticity of substitution and the     
            limiting behavior of marginal products.  12p.               
     331    van der Stel, Hans.  Strategy proofness, Pareto optimality  
            and strictly convex norms.  46p.                            
     350    Burguet, R. & Sakovics, J.  Imperfect competition in auction
            designs.  18p.                                              
     346    Matarazzo, B. & Munda, G.  New approaches for the comparison
            of L-R fuzzy numbers: a theoretical and operational         
            analysis.  30p.                                             
     345    Palomino, F. & Vega, F.  Convergence of aspirations and     
            (partial) cooperation in the prisoner's dilemma.  27p.      
     351    Ponsati, C. & Sakovics, J.  Bargaining in a changing        
            environment.  31p.                                          
     344    Vettas, N.  Investment dynamics in markets with endogenous  
            demand.  44p.                                               

     UNIV. DE BARCELONA.  Div. de Ciencies Juridiques, Econ i Socials.  

     9605   Herranz, Alfonso & Tirado, Daniel A.  Foreign trade traps in
            the European periphery: Spain, 1870-1913.  25p.             
     9603   Marin-Solano, Jesus & Rafels, Carles.  Convexity versus     
            average convexity: potential, PMAS, the Shapley value and   
            simple games.  19p.                                         
     9604   Martinez-de-Albeniz, F. Javier & Rafels, Carles.  On the    
            intersection between the imputation set and the Weber set.  
            13p.                                                        
     9606   Nunez, Marina & Rafels, Carles.  On extreme points of the   
            core and reduced games.  10p.                               

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

     65     Gale, Douglas & Rosenthal, Robert W.  Experimentation,      
            imitation, and stochastic stability.  36p.                  


                                                           PAGE   9

     63     Ma, Ching-to Albert & Torres, Clemencia.  Capacity          
            constraint and monopoly regulation under asymmetric         
            information.  10p.                                          
     64     Riordan, Michael H.  Anticompetitive vertical integration by
            a dominant firm.  20p.                                      
     67     Biglaiser, Gary & Ma, Ching-to Albert.  Investment          
            incentives of a regulated dominant firm.  23p.              
     66     Ellis, Randall P.  Health premium payment systems for state 
            employees.  31p.                                            
     68     Ray, Debraj & Vohra, Rajiv.  A theory of endogenous         
            coalition structure.  72p.                                  
     70     Melamad, Nahum, Mookherjee, Dilip & Reichelstein, Stefan.   
            Contract complexity, incentives and the value of delegation.
             38p.                                                       
     69     Miron, Jeffrey A.  Some estimates of annual alcohol         
            consumption per capita, 1870-1991.  28p.                    
     71     Mookherjee, Dilip & Reichelstein, Stefan.  Budgeting and    
            hierarchical control.  37p.                                 

     BOSTON UNIVERSITY.  Institute for Economic Development.            

     61     Adda, Jerome & Gonzalo, Jesus.  P-values for non-standard   
            distribution with an application to the DF test.  8p.       
     65     Altonji, Joseph G., Hayashi, Fumio & Kotlikoff, Laurence.   
            Parental altruism and inter vivos transers: theory and      
            evidence.  57p.                                             
     69     Das Gupta, Arindam & Mokherjee, Dilip.  Tax amnesties as    
            asset laundering devices.  35p.                             
     70     Eaton, Jonathan & Tamura, Akiko.  Japanese and U.S. exports 
            and investment as conduits of growth.  27p.                 
     64     Ghosh, Parikshit & Ray, Debraj.  Cooperation in community   
            interaction without information flows.  38p.                
     68     Khandria, Binod.  Economic strategies for banishing child   
            labour: compulsory primary education, specific vs. general  
            egalitarianism, .  25p.                                     
     67     Kotlikoff, Laurence J.  Applying generational accounting to 
            developing countries.  58p.                                 
     66     Kotlikoff, Laurence.  Privatization of social security: how 
            it works and why it matters.  45p.                          
     62     Mukhopdhyay, Hiranya.  Private investment and external debt:
            the debt overhang hypothesis revisited.  32p.               
     56     Mukhopdhyay, Hiranya.  Structural adjustment programs: some 
            new findings.  41p.                                         
     71     Yuasa, Yoshikazu.  Synchronization of Japanese money markets
            and the Eurocurrency market: evidence from the pre- and     
            post-April 1984 p.  44p.                                    

     BROWN UNIVERSITY.  Department of Economics.                        

     9518   Albaek, Karsten & Sorensen, Bent E.  Worker flows and job   
            flows in Danish manufacturing, 1980-91.  46p.               
     9537   Beckmann, Martin J.  Spatial equilibrium under uniform      
            pricing.  9p.                                               
     9525   Carroll, Christopher D., Overland, Jody & Weil, David N.    
            Saving and growth with habit formation.  34p.               



                                                           PAGE  10

     9529   Cho, In-Koo.  Perceptions play repeated games with imperfect
            monitoring.  33p.                                           
     9527   Cho, In-Koo & Li, Hao.  Complexity and network in repeated  
            games: linear strategies.  27p.                             
     9528   Cho, In-Koo & Sargent, Thomas J.  Neural networks for       
            encoding and adapting in dynamic economies.  28p.           
     9526   Dagan, Nir & Volij, Oscar.  Formation of nations in a       
            welfare-state minded world.  32p.                           
     9514   Dagan, Nir, Serrano, Roberto & Volij, Oscar.  Feasible      
            implementation of taxation methods.  23p.                   
     9534   Driscoll, John & Kraay, Aart.  Spatial correlations in panel
            data.  29p.                                                 
     96-9   Elul, Ronel.  Effectively complete equilibria: a note.  11p.
     9519   Elul, Ronel.  Financial innovation, precautionary saving and
            the riskless interest rate.  30p.                           
     9614   Elul, Ronel, Silva-Reus, Jose & Volij, Oscar.  "Will you    
            marry me?": a perspective on the gender gap.  30p.          
     9531   Feldman, Allan M.  Buying time: a model of the dollar value 
            of extra years of life.  33p.                               
     96-2   Feldman, Allan M.  The value of life revisited.  31p.       
     9612   Feldman, Allan M. & Frost, John M.  A simple model of       
            efficient tort liability rules.  28p.                       
     96-3   Galor, Oded.  Convergence?: inferences from theoretical     
            models.  20p.                                               
     9532   Galor, Oded & Tsiddon, Daniel.  Technological progress,     
            mobility, and economic growth.  38p.                        
     9521r  Gozalo, Pedro L.  Nonparametric specification testing with  
            the square root of n-local power and bootstrap critical     
            values.  37p.                                               
     9540   Gonzalo, Pedro & Linton, Oliver.  Using parametric          
            information in nonparametric regression.  53p.              
     9515   Grossman, Herschel I.  American fiscal policy in the 1990s. 
            10p.                                                        
     96-1   Grossman, Herschel I. & Kim, Minseong.  Morality, predation,
            and welfare.  20p.                                          
     9535   Grossman, Herschel I. & Kim, Minseong.  Predation and       
            accumulation.  26p.                                         
     96-6   Krishna, Pravin.  On the choice of instrument: voluntary    
            import expansions (VIEs) vs. voluntary export restraints    
            (VERs).  19p.                                               
     96-5   Krishna, Pravin.  Regionalism and multilateralism: a        
            political economy approach.  25p.                           
     96-8   Krishna, Pravin & Mitra, Devashish.  Trade liberalization,  
            market discipline and productivity growth: new evidence from
            India.  25p.                                                
     96-7   Krishna, Pravin & Bhagwati, Jagdish.  Necessarily           
            welfare-enhancing customs unions w/ industrialization       
            constraints: the Cooper-Massell-Johnson-Bhagwati .  12p.    
     9611   Lancaster, Tony & Lindenhovius, Bernard.  Biases in dynamic 
            panel data models: a reconsideration (first revision).  21p.
     9536   Lancaster, Tony & Intrator, Orna.  Panel data with survival:
            hospitalization of HIV patients.  19p.                      
     9530   Linton, Oliver & Gozalo, Pedro.  A nonparametric test of    
            conditional independence.  32p.                             




                                                           PAGE  11

     9610   Linton, O.B. & Gozalo, P.L.  Testing additivity to          
            generalized nonparametric regression models.  22p.          
     9520   Malliaris, A.G. & Stein, Jerome L.  Microanalytics of price 
            volatility.  29p.                                           
     9517   Owen, Ann & Weil, David N.  Intergenerational earnings      
            mobility, inequality, and growth.  48p.                     
     9538   Pitt, Mark M.  Estimating the determinants of child health  
            when fertility and mortality are selective.  28p.           
     9539   Pitt, Mark M. & Khandker, Shahidur R.  The impact of        
            group-based credit programs on poor households in           
            Bangladesh: does the gender of participants matter?.  34p.  
     9522   Serrano, Roberto.  Reinterpreting the kernel.  26p.         
     9523   Serrano, Roberto & Volij, Oscar.  Axiomatizations of        
            neoclassical concepts for economies.  28p.                  
     9524   Serrano, Roberto & Yosha, Oved.  Decentralized information  
            and the Walrasian outcome: a pairwise meetings market with  
            private values.  28p.                                       
     96-4   Stein, Jerome L.  The natural real exchange rate: theory &  
            application to the real exchange rate of the U.S. dollar    
            relative to the G.  104p.                                   
     9533   Stein, Jerome L.  Real exchange rates and current accounts: 
            the implications of economic science for policy decisions.  
            40p.                                                        
     9516   Stein, Jerome L. & Sauerheimer, Karlhans.  The equilibrium  
            real exchange rate of Germany.  37p.                        
     9613   Stein, Jerome L. & Paladino, Giovanna.  Recent developments 
            in international finance: a guide to research.  37p.        

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

     9504   Anas, Alex.  Default on the mortgage, savings and moral     
            hazard.  27p.                                               
     9503   Holmes, James M. & Hutton, Patricia A.  Keynesian           
            involuntary unemployment and sticky nominal wages.  36p.    

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

     937    Cachon, Gerard P. & Camerer, Colin F.  Loss avoidance and   
            forward induction in experimental coordination games.  29p. 
     939    Cox, Gary W. & Katz, Jonathan N.  Why did the incumbency    
            advantage in U.S. house elections grow?.  22p.              
     940    Ghiradato, Paolo.  On independence for non-additive         
            measures, with a Fubini theorem.  36p.                      
     921    Hillion, Pierre & Young, S. David.  The Czechoslovak        
            privatization auction: an empirical investigation.  62p.    
     930    Kousser, J. Morgan.  Reapportionment wars: party, race, and 
            redistricting in California, 1971-1992.  63p.               
     950    Alvarez, R. Michael.  Survey measures of uncertainty: a     
            report to the National Election Studies Board on the use of 
            "certainty" questions.  22p.                                
     946    Camerer, Colin.  Rules for experimenting in psychology and  
            economics and why they differ.  16p.                        
     931    Fohlin, Caroline M.  Relationship banking and corporate     
            governance in the Kaiserreich.  33p.                        




                                                           PAGE  12

     945    Ghirardato, Paolo.  Coping with ignorance: unforseen        
            contingencies and non-additive uncertainty.  45p.           
     951    Lee, In Ho.  Merging of forecasts in Markov models.  6p.    
     947    McKelvey, Richard D. & Palfrey, Thomas R.  Quantal response 
            equilibria for extensive form games.  32p.                  
     936    Papai, Szilvia.  Strategy proof allocation of a single      
            object.  14p.                                               
     941    Plott, Charles R. & Wilkie, Simon.  Local telephone         
            exchanges, regulation and entry.  35p.                      
     944    Aliprantis, C.D., Border, Kim C. & Burkinshaw, Owen.        
            Economies with many commodities.  60p.                      
     954    Alvarez, R. Michael.  Studying congressional and            
            gubernatorial campaigns.  41p.                              
     949    Alvarez, R. Michael, Bowler, Shaun & Nagler, Jonathan.      
            Issues, economics and the dynamics of multi-party elections:
            the British 1987 general election.  36p.                    
     952    Bossaerts, Peter.  Rational price discovery in experimental 
            and field data.  17p.                                       
     942    Dubin, Jeffrey A. & Kalsow, Gretchen A.  Comparing absentee 
            and precinct voters: a view over time.  27p.                
     943    Dubin, Jeffrey A. & Kalsow, Gretchen A.  Comparing absentee 
            and precinct voters: voting on direct legislation.  22p.    
     955    McKelvey, Richard D. & Palfrey, Thomas R.  A statistical    
            theory of equilibrium in games.  27p.                       
     912    Palfrey, Thomas R.  Implementation theory.  57p.            
     938    Papai, Szilvia.  Strategyproof and nonbossy assignments.    
            26p.                                                        
     965    Aliprantis, C.D., et al.  Portfolio dominance and optimality
            in infinite securities markets.  23p.                       
     964    Aliprantis, C.D., et al.  Yudin cones and inductive limit   
            topologies.  21p.                                           
     969    Alvarez, R. Michael & Franklin, Charles H.  Attitudes,      
            uncertainty and survey responses.  36p.                     
     961    Alvarez, R. Michael & Brehm, John.  Information and American
            attitudes toward bureaucracy.  23p.                         
     959    Alvarez, R. Michael & Nagler, Jonathan.  When politics and  
            models collide: estimating models of multi-party elections. 
            33p.                                                        
     966    Blecherman, Barry & Camerer, Colin F.  Is there a winner's  
            curse in the market for baseball players?: evidence from the
            field.  24p.                                                
     960    Camerer, Colin, et al.  Labor supply of New York City cab   
            drivers: one day at a time.  33p.                           
     963    Filippov, Mikhail & Ordeshook, Peter C.  Fraud or fiction:  
            who stole what in Russia's December 1993 elections?.  48p.  
     968    Hanson, Robin.  Voters can have strong incentives to become 
            informed, or to be strategically ignorant.  25p.            
     962    Ordeshook, Peter C.  Russia's party system: is Russian      
            federalism viable?.  20p.                                   
     967    Polishchuk, Leonid.  Input markets development, property    
            rights, and extra-market redistribution.  28p.              
     958    Bossaerts, Peter.  Martingale restrictions on equilibrium   
            prices of Arrow-Debreu securities under rational            
            expectations and consistent.  46p.                          




                                                           PAGE  13

     977    Bossaerts, Peter, Ghysels, Eric & Gourieroux, Christian.    
            Arbitrage-based pricing when volatility is stochastic.  39p.
     970    Camerer, Colin, Knez, Marc & Weber, Roberto A.  Timing and  
            virtual observability in ultimatum bargaining and `weak     
            link' coordination games.  34p.                             
     971    Dutta, Bhaskar & Mutuswami, Suresh.  Stable networks.  20p. 
     948    Fohlin, Caroline.  Fiduciari and firm liquidity constraints:
            the Italian experience with German style universal banking. 
            25p.                                                        
     974    Ho, Teck Hua, Weigelt, Keith & Camerer, Colin.  Iterated    
            dominance and iterated best response in experimental        
            `p-beauty contests'.  54p.                                  
     956    Ledyard, John O. & Palfrey, Thomas R.  Interim efficiency in
            a public goods problem.  20p.                               
     978    Ledyard, John O., Porter, David & Rangel, Antonio.  The     
            results of some tests of mechanism design for the allocation
            and pricing of collections of heterogeneous items.  35p.    
     975    Lovallo, Dan & Camerer, Colin F.  Overconfidence and excess 
            entry: an experimental approach.  31p.                      
     957    Plott, Charles R.  Laboratory experimental testbeds:        
            application to the PCS auction.  32p.                       

     UNIVERSITY OF CALIFORNIA-BERKELEY.  Department of Economics.       

     244    Ennis, Sean.  The Northridge earthquake: a natural          
            experiment in market structure.  40p.                       
     243    Gilles, Robert P. & Scotchmer, Suzanne.  Decentralization in
            replicated club economies with multiple private goods.  33p.
     242    O'Donoghue, Ted, Scotchmer, Suzanne & Thisse, Jacques-F.    
            Patent breadth, patent life, and the pace of technological  
            improvement.  33p.                                          
     245    Goldman, Steven M. & Lightwood, James.  Cost optimization in
            the SIS model of infectious disease with treatment.  33p.   
     247    O'Regan, Katherine M. & Quigley, John M.  Spatial effects   
            upon employment outcomes: the case of New Jersey teenagers. 
            31p.                                                        
     246    Scotchmer, Suzanne.  Externality pricing in club economies. 
            23p.                                                        
     248    Boskin, Michael J.  Learn, earn, and serve: commencement    
            address to the Economics Department, U Cal Berkeley, May    
            1996.  19p.                                                 
     249    Shannon, Chris.  Determinacy of competitive equilibria in   
            economies with many commodities.  53p.                      

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

     56     Eichengreen, Barry & von Hagen, Jurgen.  Fiscal policy and  
            monetary union: federalism, fiscal restrictions and the no  
            bailout rule.  35p.                                         
     57     Eichengreen, Barry & Wyplosz, Charles.  What do currency    
            crises tell us about the future of the international        
            monetary system?.  18p.                                     
     58     Frankel, Jeffrey.  How well do foreign exchange markets     
            function?: might a Tobin tax help?.  57p.                   




                                                           PAGE  14

     54     Frankel, Jeffrey A. & Okongwu, Chudozie.  Liberalized       
            portfolio capital inflows in emerging markets:              
            sterilization, expectations, and the incompleteness of i.   
            45p.                                                        
     55     Frankel, Jeffrey & Wyplosz, Charles.  A proposal to         
            introduce the ECU first in the East.  9p.                   
     60     Frankel, Jeffrey A.  Recent exchange rate experience and    
            proposals for reform.  15p.                                 
     61     Frankel, Jeffrey.  The world over the next twenty-five      
            years: global trade liberalization and the relative growth  
            of different regions.  20p.                                 
     59     Frankel, Jeffrey A., Stein, Ernesto & Wei, Shang-Jin.       
            Regional trading arragements: natural or supernatural?.     
            14p.                                                        
     62     Frankel, Jeffrey A. & Rose, Andrew K.  Currency crashes in  
            merging markets: empirical indicators.  29p.                
     63     Obstfeld, Maurice.  Intertemporal price speculation and the 
            optimal current-account deficit: reply and clarification.   
            12p.                                                        
     64     Bardhan, Pranab.  The economics of corruption in less       
            developed countries: a review of issues.  45p.              
     65     Bardhan, Pranab.  Efficiency, equity and poverty            
            alleviation: policy issues in less developed countries.     
            23p.                                                        
     66     Bardhan, Pranab.  The nature of institutional impediments to
            economic development.  32p.                                 
     68     Eichengreen, Barry & Frankel, Jeffrey A.  On the SDR:       
            reserve currencies and the future of the international      
            monetary system.  73p.                                      
     67     Frankel, Jeffrey A. & Shmukler, Sergio L.  Country fund     
            discounts, asymmetric information and the Mexican crisis of 
            1994: did local residents turn pessimistic.  37p.           
     72     Baek, Seung-Gwan.  Favorable external shocks, sectoral      
            adjustment and de-industrialization in non oil producing    
            economies.  42p.                                            
     70     Bardhan, Pranab.  Method in the madness?: a political       
            economy analysis of ethnic conflicts in less developed      
            countries.  39p.                                            
     69     Bardhan, Pranab & Priale, Rodrigo.  Endogenous growth theory
            in a vintage capital model.  35p.                           
     71     Dayton-Johnson, Jeff & Bardhan, Pranab.  Inequality and     
            conservation on the local commons: a theoretical exercise.  
            40p.                                                        
     73     Frankel, Jeffrey A. & Rose, Andrew K.  Economic structure   
            and the decision to adopt a common currency.  57p.          

     UNIVERSITY OF CALIFORNIA-LOS ANGELES.  Department of Economics.    

     741    Durham, Yvonne, Hirshleifer, Jack & Smith, Vernon L.        
            Experimental tests of the paradox of power.  45p.           
     742    Ellickson, Bryan & Penalva-Zuasti, Jose.  Intertemporal     
            insurance.  29p.                                            
     734    Hu, Wei-Yin.  Child support, welfare dependency, and women's
            labor supply.  60p.                                         




                                                           PAGE  15

     747    Lal, Deepak.  Arms and the man: the costs and benefits of   
            defense expenditure.  23p.                                  
     732    Lal, Deepak.  Eco-fundamentalism.  24p.                     
     744    Lal, Deepak.  Policies for economic development: why the    
            wheel has come full circle.  39p.                           
     737    Makowski, Louis & Ostroy, Joseph M.  Arbitrage and the      
            flattening effect of large numbers.  31p.                   
     745    Makowski, Louis, Ostroy, Joseph M. & Segal, Uzi.  Perfect   
            competition as the blueprint for efficiency and incentive   
            compatibility.  37p.                                        
     736    Martinelli, Cesar & Tommasi, Mariano.  Economic reforms and 
            political constraints: on the time inconsistency of gradual 
            sequencing.  23p.                                           
     735    Nachbar, John & Zame, William R.  Non-computable strategies 
            and discounted repeated games.  30p.                        
     743    Somers, Harold M.  Taxing multinationals while minimizing   
            economic distortion.  32p.                                  
     739    Thompson, Earl A. & Hickson, Charles R.  Exchange controls  
            and hyperinflation as efficient governmental responses to   
            externally imposed trade liberalization.  44p.              
     746    Thompson, Earl A.  Why world oil monopolization lowers oil  
            prices: a theory of involuntary cartelization.  25p.        
     733    Tommasi, Mariano & Velasco, Andres.  Where are we in the    
            political economy of reform?.  69p.                         
     738    Yelowitz, Aaron S.  The Medicaid notch, labor supply and    
            welfare participation: evidence from eligibility expansions.
             39p.                                                       
     752    Cameron, Trudy A. & Englin, Jeffrey.  Respondent experience 
            and contingent valuation of environmental goods.  26p.      
     751    Cameron, Trudy A., et al.  Using distance and zip code      
            census information for nonresponse correction in the        
            analysis of mail survey data.  27p.                         
     749    Hirshleifer, Jack & Osborne, Evan.  The legal battle.  27p. 
     750    Hu, Wei-Yin.  Elderly immigrants on welfare.  42p.          
     754    Lahiri, Amartya & Puhakka, Mikko.  Habit persistence in     
            overlapping generations economies under pure exchange.  23p.
     755    Ruhl, Christof & Vinogradov, Viatcheslav.  Economic         
            discontent versus social commitment in economic development.
             26p.                                                       
     756    Yelowitz, Aaron S.  Did recent Medicaid reforms cause the   
            caseload explosion in the food stamp program?.  39p.        
     753    Yelowitz, Aaron S.  Using the Medicare buy-in program to    
            estimate the effect on Medicaid on SSI participation.  53p. 
     748    Yelowitz, Aaron S.  Why did the SSI-disabled program grow so
            much?: disentangling the effect on Medicaid.  38p.          

     UNIVERSITY OF CALIFORNIA-SAN DIEGO.  Department of Economics.      

     9540   Andersen, Lykke E.  An econometric analysis of deforestation
            in the Brazilian Amazon.  16p.                              
     9535   Andersen, Lykke E. & Granger, Clive W.J.  A random          
            coefficient VAR transition model of the changes in land use 
            in the Brazilian Amazon.  10p.                              
     9544   Boswijk, Peter, Franses, Philip H. & Haldrup, Niels.        
            Multiple unit roots in periodic autoregression.  30p.       



                                                           PAGE  16

     9529   Cavanagh, Christopher L., Elliott, Graham & Stock, James H. 
            Inference in models with nearly integrated regressors.  25p.
     9537   Crawford, Vincent P.  Theory and experiment in the analysis 
            of strategic interaction.  50p.                             
     9541   Crawford, Vincent P. & Broseta, Bruno.  What price          
            coordination?: auctioning the right to play as a form of    
            preplay communication.  48p.                                
     9538   Den Haan, Wouter J.  Aggregate shocks and cross-sectional   
            dispersion.  34p.                                           
     9532   Edlin, Aaron S., Epelbaum, Mario & Heller, Walter P.  Is    
            perfect price discrimination really efficient?: welfare and 
            existence in general equilibrium.  36p.                     
     9542   Elliott, Graham.  Tests for the correct specification of    
            cointegrating vectors and the error correction model.  35p. 
     9546   Engle, Robert F. & Lee, Gary G.J.  Estimating diffusion     
            models of stochastic volatility.  34p.                      
     9533   Engle, Robert F. & Russell, Jeffrey R.  Forecasting the     
            frequency of changes in quoted foreign exchange prices with 
            the autoregressive conditional duration.  36p.              
     9545   Engsted, Tom & Haldrup, Niels.  Estimating the linear       
            quadratic adjustment cost (LQAC) model with I(2) variables. 
            21p.                                                        
     9531   Flores, Nicholas E. & Carson, Richard T.  The relationship  
            between income elasticities of demand and willingness to    
            pay.  22p.                                                  
     9539   Germano, Fabrizio.  Bertrand-Edgeworth equilibria in finite 
            exchange economies.  52p.                                   
     9543   Granger, Clive W.J. & Haldrup, Niels.  Separation in        
            cointegrated systems, long memory components and common     
            stochastic trends.  16p.                                    
     9534   Hamilton, James D.  Specification testing in Markov         
            switching time series models.  48p.                         
     9536   Hamilton, James D.  This is what happened to the oil        
            price-macroeconomy relationship.  10p.                      
     9547   Squires, Dale.  Firm behavior under rations and vouchers:   
            the theory and application of inverse derived demand.  40p. 
     9530   Watson, Joel.  Building a relationship.  41p.               
     9604   Bagwell, Kyle & Ramey, Garey.  Coordination economies,      
            sequential search and advertising.  51p.                    
     9621   Betts, Julian R.  Do school resources matter only for older 
            workers?.  47p.                                             
     9609   Betts, Julian R.  Is there a link between school inputs and 
            earnings?: fresh scrutiny of an old literature.  75p.       
     9616   Betts, Julian R.  The role of homework in improving school  
            quality.  42p.                                              
     9610   Boswijk, H. Peter & Franses, Philip H.  Common persistence  
            in nonlinear autoregressive models.  15p.                   
     9617   Den Haan, Wouter j. & Levin, Andrew.  A practitioner's guide
            to robust covariance matrix estimation.  56p.               
     9607   Elliott, Graham & Fatas, Antonio.  International business   
            cycles and the dynamics of the current account.  29p.       
     9615   Engle, Robert F.  The econometrics of ultra-high frequency  
            data.  18p.                                                 
     9603   Grossbard-Schechtman, Shoshana & Granger, Clive W.J.        
            Women's jobs and marriage: baby-boom versus baby-bust.  22p.



                                                           PAGE  17

     9619   Hamilton, James D.  Measuring the liquidity effect.  54p.   
     9618   Hamilton, James D. & Lin, Gang.  Stock market volatility and
            the business cycle.  39p.                                   
     9613   Perez-Quiros, Gabriel & Timmermann, Allan.  On business     
            cycle variation in the mean, volatility and conditional     
            distribution of stock returns.  50p.                        
     9602   Ramey, Garey.  Equilibrium R & D with an infinite sequence  
            of innovations.  28p.                                       
     9608   Ramey, Garey & Watson, Joel.  Bilteral trade and            
            opportunities in a matching market.  35p.                   
     9601   Ramey, Garey & Seo, Junghwan.  Licensing rivalry, research  
            joint ventures, and patent pooling.  26p.                   
     9606   Raut, Lakshmi K.  A reformulation of Aumann-Shapley random  
            order values of non-atomic games using invariant measures.  
            33p.                                                        
     9605   Raut, Lakshmi K.  Signalling equilibrium, intergenerational 
            mobility and long-run growth.  19p.                         
     9611   Siklos, Pierre L. & Granger, Clive W.J.  Temporary          
            cointegration with an application to interest rate parity.  
            17p.                                                        
     9620   Sobel, Joel.  Bean counting: standard choice in a           
            two-dimensional incentive program.  25p.                    
     9612   Sobel, Joel.  Theories of declining standards.  18p.        
     9614   Timmermann, Allan.  Excess volatility and predictability of 
            stock prices in autoregressive dividend models with         
            learning.  45p.                                             

     UNIVERSITY OF CALIFORNIA-SANTA BARBARA.  Department of Economics.  

     18/95  Bohn, Henning & Inman, Robert P.  Constitutional limitations
            and public deficits: evidence from the U.S. states.  61p.   
     19/95  DeCanio, Stephen J.  The energy paradox: bureaucratic and   
            organizational barriers to profitable energy saving         
            investments.  37p.                                          
     20/95  DeCanio, Stephen J. & Watkins, William E.  Investments in   
            energy efficiency: do the characteristics of firms matter?. 
            36p.                                                        
     21/95  Trejo, Stephen J.  Does the statutory overtime premium      
            discourage long workweeks?.  32p.                           
     1/96   Funkhouser, Edward.  How much of immigrant wage assimilation
            is related to English language acquisition?.  55p.          
     2/96   Xing, Yuqing & Kolstad, Charles D..  Environment and trade: 
            a review of theory and issues.  25p.                        
     3/96   Kelly, David L. & Kolstad, Charles D.  The climate change   
            footprint: will we see it before it is upon us?.  37p.      
     4/96   Frech, H.E.  Health economics: from patient to consumer.    
            37p.                                                        
     6/96   French, H.E.  The nonequivalence of vertical merger and     
            exclusive dealing.  42p.                                    
     5/96   Frech, H.E. & Mobley, Lee R.  The Demsetz hypothesis and    
            hospital workers: an empirical analysis.  35p.              
     7/96   Rowland, Patrick F.  Transaction costs and convergence to an
            internationally diversified portfolio.  48p.                
     9/96   Kelly, David L. & Kolstad, Charles D.  Malthus and climate  
            change: betting on a stable population.  24p.               



                                                           PAGE  18

     8/96   Qin, Cheng-Zhong.  "Hostages" and cooperation in the        
            prisoner's dilemma.  13p.                                   
     11/96  Carrington, Samantha, Carrington-Crouch, Robert & Everett,  
            Lorne.  A cost benefit analysis of California's leaking     
            underground fuel tanks.  19p.                               
     10/96  Hahm, Joon-Ho & Steigerwald, Douglas G.  Consumption        
            adjustment under changing income uncertainty.  26p.         
     14/96  Sengupta, Jati K.  Recent models in dynamic economics:      
            problems of estimating terminal conditions.  21p.           
     12/96  Sengupta, Jati K. & Sfeir, Raymond.  Modelling exchange rate
            volatility.  24p.                                           
     13/96  Sengupta, Jati K. & Sfeir, Raymond.  Past trend versus      
            future expectation: test of exchange rate volatility.  10p. 

     UNIVERSITY OF CAMBRIDGE.  Department of Applied Economics.         

     9601   Baliga, Sandeep & Evans, Robert.  Renegotiation in repeated 
            games with transfers.  14p.                                 
     9610   Gilli, Mario.  Learning standards of social behaviour in a  
            stationary society.  40p.                                   

     BANK OF CANADA.  Technical Reports.                                

     74     Stuber, Gerald.  The electronic purse: an overview of recent
            developments and policy issues.  64p.                       
     75     Coletti, Donald, et al.  The Bank of Canada's new quarterly 
            projection model, part 3: the dynamic model.  135p.         
     76     Murray, John, van Norden, Simon & Vigfusson, Robert.  Excess
            volatility and speculative bubbles in the Canadian dollar:  
            real or imagined?.  43p.                                    

     UNIVERSITY OF CANTERBURY.  Department of Economics.                

     9508   Winkelmann, Rainer.  Apprenticeship and after: does it      
            really matter?.  29p.                                       
     9601   Winkelmann, Rainer.  Another look at work contracts and     
            absenteeism.  14p.                                          
     9602   Winkelmann, Rainer.  Markov chain Monte Carlo analysis of   
            underreported count data w/ an application to worker        
            absenteeism.  16p.                                          
     9604   Guender, Alfred V. & Lees, Kirdan.  Optimal revenue         
            smoothing: the case of New Zealand.  23p.                   
     9603   Winkelmann, Rainer.  Count data models with selectivity.    
            19p.                                                        
     9605   Chib, Siddhartha, Greenberg, Edward & Winkelmann, Rainer.   
            Posterior simulation and model choice in longitudinal       
            generalized linear models.  30p.                            

     UNIVERSIDAD CARLOS III de MADRID.  Dept. de Economia.              

     9554   Collado, M. Dolores.  Separability and aggregate shocks in  
            the life-cycle model of consumption: evidence from Spain.   
            24p.                                                        
     9546   Estrada, Javier & Pena, J. Ignacio.  Empirical evidence on  
            the impact of European insider trading regulations.  28p.   



                                                           PAGE  19

     9535   Kranich, Laurence.  Equitable opportunities in economic     
            environments.  13p.                                         
     9536   Kranich, Laurence.  Equity and economic theory: reflections 
            on methodology and scope.  37p.                             
     9543   Kujal, Praveen.  Implementation of quantity restrictions and
            the effect on market power.  19p.                           
     9534   Licandro, Omar & Puch, Luis A.  Capital utilization,        
            maintenance costs and the business cycle.  23p.             
     9544   Martinelli, Cesar.  Small firms, borrowing constraints, and 
            reputation.  21p.                                           
     9533   Martinelli, Cesar & Tommasi, Mariano.  Economic reforms and 
            political constraints: on the time inconsistency of gradual 
            sequencing.  23p.                                           
     9530   Moreno, Diego & Wooders, John.  An experimental study of    
            communication and cooperation in noncooperative games.  29p.
     9545   Moreno, Manuel & Pena, J. Ignacio.  On the term structure of
            interbank interest rates: jump-diffusion processes and      
            option pricing.  35p.                                       
     9537   Ok, Efe A. & Kranich, Laurence.  The measurement of         
            opportunity inequality: a cardinality based approach.  24p. 
     9559   Boucekkine, Raouf, Licandro, Omar & Paul, Christopher.      
            Differential-difference equations in economics: on the      
            numerical solution of vintage capital growth markets.  25p. 
     9610   Camino, David.  The role of information and trading volume  
            on intradaily and weekly returns patterns in the Spanish    
            stock market.  28p.                                         
     9611   Camino, David.  A transaction cost approach to strategic    
            alliances in telecommunications.  27p.                      
     9603   del Rio, Coral & Ruiz-Castillo, Javier.  Intermediate       
            inequality and welfare: the case of Spain, 1980-81 to       
            1990-91.  31p.                                              
     9608   Ganuza, Juan Jose.  Optimal procurement mechanism with      
            observable quality.  22p.                                   
     9601   Kujal, Praveen & Michelitsch, Roland.  Market power,        
            inelastic elasticity of demand, and terms of trade.  67p.   
     9602   Petrakis, Emmanuel & Vlassis, Minas.  Endogenous wage       
            bargaining institutions in oligopolistic industries.  24p.  
     9613   Cardone, Clara.  A single European Union deposit insurance  
            scheme?: an overview.  15p.                                 
     9609   Dhillon, Amrita & Petrakis, Emmanuel.  On centralized       
            bargaining in a symmetric oligopolistic industry.  20p.     
     9612   Einy, Ezra, et al.  Core equivalence theorems for infinite  
            convex games.  18p.                                         
     9556   Escribano, Alvaro & Granger, Clive W.J.  Investigating the  
            relationship between gold and silver prices.  33p.          
     9604   Ruiz-Castillo, Javier.  A simplified model for social       
            welfare analysis: an application to Spain, 1973-74 to       
            1980-81.  29p.                                              
     9617   Villar, Olga Alonso.  Configuration of cities: the effects  
            of congestion cost and government.  39p.                    
     9618   Villar, Olga Alonso.  Spatial distribution of production and
            international trade.  28p.                                  
     9628   Alonso-Borrego, Cesar.  Demand for labour inputs and        
            adjustment costs: evidence from Spanish manufacturing firms.
             33p.                                                       



                                                           PAGE  20

     9627   Boucekkine, Raouf & Fagnart, Jean-Francois.  Solving recent 
            real business cycle models using linearization: further     
            reserves.  9p.                                              
     9625   Boucekkine, Raouf, Le Van, Cuong & Schubert, Katheline.  How
            to get the Blanchard-Kahn form from a general linear        
            rational expectations model.  14p.                          
     9631   Cancelo, Jose Ramon & Espasa, Antoni.  Using high freqency  
            data and time series models to improve yield management.    
            23p.                                                        
     9557   Delgado, Miguel A. & Miles, Daniel.  Household              
            characteristics and consumption behaviour: a nonparametric  
            approach.  34p.                                             
     9626   Espasa, Antoni, Revuelta, J. Manuel & Cancelo, J. Ramon.    
            Automatic modelling of daily series of economic activity.   
            13p.                                                        
     9621   Estrada, Javier & Pastor, Santos.  The distribution of      
            sentences in tax-related cases: evidence from Spanish courts
            of appeals.  28p.                                           
     9624   Fagnart, Jean-Francois, Licandro, Omar & Sneessens, Henri.  
            Capacity utilization and market power.  21p.                
     9623   Fagnart, Jean-Francois, Licandro, Omar & Portier, Franck.   
            Idiosyncratic uncertainty, capacity utilization and the     
            business cycle.  20p.                                       
     9630   Goutis, Constantinos.  Nonparametric estimation of a mixing 
            density via the kernel method.  14p.                        
     9615   Kujal, Praveen.  The impact of regulatory controls in       
            industry structure: a study of the car and scooter industry 
            in India.  47p.                                             
     9629   Petrakis, Emmanuel & Vlassis, Minas.  Endogenous scope of   
            bargaining in oligopoly.  23p.                              
     9638   Boucekkine, Raouf, Germain, Marc & Licandro, Omar.          
            Replacement echoes in the vintage capital growth model.     
            17p.                                                        
     9636   Corcho-Sanchez, Paula I.  Generalized externality games:    
            economic applications.  20p.                                
     9640   Einy, Ezra, Monderer, Dov & Moreno, Diego.  The least core, 
            kernel, and bargaining sets of large games.  20p.           
     9622   Florenzano, Monique & Moreno Garcia, Emma.  Linear exchange 
            economies with a continuum of agents.  18p.                 
     9653   Ruiz-Castillo, Javier & Vargas, Carmen.  A social welfare   
            model for the evaluation of the Spanish income tax system.  
            37p.                                                        

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

     9509   Cohen, Daniel.  Tests of the `convergence hypothesis': some 
            further results.  23p.                                      
     9507   Cohen, Daniel.  The transition in Russia: successes         
            (privatization, low unemployment..) and failures (Mafias,   
            liq. constraints..).  24p.                                  

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

     9510   Bartel, Ann P. & Sicherman, Nachum.  Technological change   
            and the skill acquisition of young workers.  62p.           



                                                           PAGE  21

     9508   Browne, Sid.  Optimal investment policies for a firm with a 
            random risk process: exponential utility & minimizing the   
            probability.  26p.                                          
     9509   Browne, Sid.  The return on investment from proportional    
            portfolio strategies.  33p.                                 
     9513   Donaldson, John B. & Dutta, Jayasri.  Anticipation and the  
            aggregation of idiosyncratic risks.  49p.                   
     9514   Economides, Nicholas, Hubbard, R. Glenn & Palia, Darius.    
            The political economy of branching restrictions and deposit 
            insurance: a model of monopolistic competition among sm.    
            39p.                                                        
     9515   Hamao, Yasushi & Mei, Jianping.  Living with the "enemy": an
            analysis of foreign investment in the Japanese equity       
            market.  38p.                                               
     9511   Morgan, Donald P.  Bank loan commitments and the lending    
            channel of monetary policy.  25p.                           
     9512   Morgan, Donald P.  Bank monitoring mitigates agency         
            problems: new evidence using the financial covenants in bank
            loan commitments.  23p.                                     
     9525   Campa, Jose M. & Chang, P.H. Kevin.  Arbitrage-based tests  
            of target zone credibility: evidence from ERM cross-rate    
            options.  37p.                                              
     9526   Campa, Jose M. & Chang, P.H. Kevin.  The forecasting ability
            of correlations implied in foreign exchange options.  29p.  
     9519   Chichilnisky, Graciela & Heal, Geoffrey M.  Special choice  
            with infinite populations: construction of a rule and       
            impossibility results.  20p.                                
     9517   Heal, Geoffrey M.  Markets and biodiversity.  10p.          
     9516   Heal, Geoffrey M.  International dimensions of environmental
            policy.  24p.                                               
     9518   Heal, Geoffrey M.  Social choice and resource allocation: a 
            topological perspective.  12p.                              
     9527   Vassalou, Maria.  Tests of alternative international asset  
            pricing models.  42p.                                       
     9521   Aitken, Brian, Harrison, Ann & Lipsey, Robert E.  Wages and 
            foreign ownership: a comparative study of Mexico, Venezuela,
            and the United States.  32p.                                
     9522   Chichilnisky, Graciela & Heal, Geoffrey M.  The geometry of 
            implementation: a necessary and sufficient condition for    
            straightforward games.  33p.                                
     9531   Edwards, Franklin R.  Mutual funds and financial stability. 
            43p.                                                        
     9532   Edwards, Franklin R & Park, James M.  Do managed futures    
            make good investments?.  60p.                               
     9529   Gilchrist, Simon & Himmelberg, Charles P.  Evidence on the  
            role of cash flow for investment.  37p.                     
     9528   Hamao, Yasushi & Jegadeesh, Narasimhan.  Japanese government
            bond auctions: the U.S. experience.  31p.                   
     9520   Hanson, Gordon H. & Harrison, Ann.  Trade, technology and   
            wage inequality.  46p.                                      
     9530   Heal, Geoffrey.  Derivatives and the efficient allocation of
            price risks in a general equilibrium world.  18p.           
     9523   Heal, Geoffrey M.  Emission constraints, emission permits   
            and marginal abatement costs.  10p.                         




                                                           PAGE  22

     9524   Heal, Geoffrey M.  Interpreting sustainability.  12p.       
     9604   Collins, Julie, Kemsley, Deen & Lang, Mark.                 
            Cross-jurisdictional income shifting and earnings valuation.
             44p.                                                       
     9601   Glosten, Lawrence R.  Competition and the set of allowable  
            prices.  34p.                                               
     9603   Heal, Geoffrey, Chichilnisky, Graciela & Beltratti, Andrea. 
            Uncertain future preferences and conservation.  18p.        
     9608   Lichtenberg, Frank R.  The effect of pharmaceutical         
            utilization and innovation on hospitalization and mortality.
             44p.                                                       
     9606   Locke, Peter R. & Sarkar, Asani.  Volatility and liquidity  
            in futures markets.  28p.                                   
     9607   Locke, Peter R., Sarkar, Asani & Wu, Lifan.  Did the good   
            guys lose?: heterogeneous traders and regulatory            
            restrictions on dual trading.  29p.                         
     9605   Reyes, Benedicte M.  The impact of capital and ownership    
            structure on corporate investment: evidence from France.    
            37p.                                                        
     9602   Schramm, Ronald M.  Optimal financial contracts in a two    
            sector open economy (Ricardo meets the CAPM).  19p.         

     UNIVERSITY OF COPENHAGEN.  Institute of Economics.                 

     9519   Andersen, Torben G. & Sorensen, Bent E.  GMM estimation of a
            stochastic volatility model: a Monte Carlo study.  55p.     
     9601   Browning, Martin & Lusardi, Annamaria.  Household saving:   
            micro theories and micro facts.  96p.                       
     9520   Groth, Christian.  Growth with public research and private  
            education.  10p.                                            
     9602   Juselius, Katarina.  A structured VAR under changing        
            monetary policy.  77p.                                      
     9518   la Cour, Lisbeth F.  A component-based analysis of the      
            Danish long-run money demand relation.  26p.                
     9517   Persson, Karl G.  Despotic liberalism and the decline of    
            grain market regulation in Europe, 1760-1850.  21p.         
     9603   Benoit, Jean-Pierre & Krishna, Vijay.  The folk theorems for
            repeated games: a synthesis.  34p.                          
     9605   Dierker, Egbert & Grodal, Birgit.  The price normalization  
            problem in imperfect competition and the objective of the   
            firm.  32p.                                                 
     9606   Fagnart, Jean-Francois, Licandro, Omar & Portier, Franck.   
            Idiosyncratic uncertainty, capacity utilization and the     
            business cycle.  20p.                                       
     9607   Schultz, Christian.  Annoucements and credibility of        
            monetary policy.  11p.                                      
     9604   Schultz, Christian.  Political competition and polarization.
             28p.                                                       
     9609   Browning, Martin.  The saving behavior of a two person      
            household.  32p.                                            
     9610   Browning, Martin & Chiappori, P.A.  Efficient               
            intra-household allocations: a general characterization and 
            empirical tests.  47p.                                      
     9611   Browning, Martin & Crossley, Thomas.  Unemployment insurance
            benefit levels and consumption changes.  33p.               



                                                           PAGE  23

     9612   Jorgensen, Clara, Kongstad, Hans C. & Rahbek, Anders.       
            Trend-stationarity in the I(2) cointegration model.  35p.   
     9608   Rubin, Jonathan & Thygesen, Niels.  Monetary union and the  
            outsiders: a cointegration/codependence analysis of business
            cycles in Europe.  64p.                                     
     9613   Sorensen, Bent E & Yosha, Oved.  Income and consumption     
            smoothing among U.S. states: regions or clubs?.  34p.       

     CORNELL UNIVERSITY.  Center for Analytic Economics.                

     9602   Aliprantis, Charalambos D.  Separable utility functions.    
            31p.                                                        
     9512   Basu, Kaushik.  Do India's labor laws hurt Indian laborers?:
            a theoretical investigation.  40p.                          
     9503   Basu, Kaushik.  Stackleberg equilibrium in oligopoly: an    
            explanation based on managerial incentives.  9p.            
     9517   Bencivenga, Valerie R. & Smith, Bruce R.  Unemployment,     
            migration, and growth.  56p.                                
     9519   Bhattacharya, Joydeep.  Credit market imperfections, income 
            distribution and growth.  39p.                              
     9513   Bhattacharya, Joydeep, Guzman, Mark G. & Shell, Karl.  Price
            level volatility: a simple model of money taxes and         
            sunspots.  26p.                                             
     9504   Bhattacharya, Joydeep, Guzman, Mark G. & Smith, Bruce D.    
            Some even more unpleasant monetarist arithmetic.  31p.      
     9516   Choi, Sangmok, Smith, Bruce D. & Boyd, John H.  Inflation,  
            financial markets, and capital formation.  70p.             
     9420   Easley, David, et al.  Liquidity, information, and          
            infrequently traded stocks.  49p.                           
     9515   Franses, Philip Hans & Vogelsang, Timothy J.  Testing for   
            seasonal unit roots in the presence of changing seasonal    
            means.  47p.                                                
     9509   Goenka, Aditya & Shell, Karl.  On the robustness of sunspot 
            equilibria.  33p.                                           
     9510   Goenka, Aditya & Shell, Karl.  When sunspots don't matter.  
            20p.                                                        
     9422   Hong, Yongmiao.  Consistent testing for serial correlation  
            of unknown form.  48p.                                      
     9432   Hong, Yongmiao.  A goodness of fit test for composite       
            spectral hypotheses.  18p.                                  
     9431   Hong, Yongmiao.  Nonparametric coherency-based testing for  
            independence between two stationary time series.  38p.      
     9601   Hong, Yongmiao & Shehadeh, Ramsey D.  A new test for ARCH   
            effects and its finite sample performance.  37p.            
     9427r  Huybens, Elisabeth & Smith, Bruce D.  Financial market      
            frictions, monetary policy and capital accumulation in a    
            small open economy.  45p.                                   
     9428   Jiang, Guorong.  On the nature of fixed exchange rates.     
            42p.                                                        
     9425   Majumdar, Mukul & Peleg, Bezalel.  An axiomatization of the 
            Walras correspondence in infinite dimensional spaces.  17p. 
     9511   Mitra, Tapan.  On the relationship between discounting and  
            complicated behavior in dynamic optimization models.  43p.  
     9507   Mitra, Tapan & Ok, Efe A.  The measurement of income        
            mobility: a partial ordering approach.  29p.                



                                                           PAGE  24

     9429   Mitra, Tapan & Ok, Efe A.  Personal income taxation and the 
            principle of equal sacrifice revisited.  28p.               
     9508   Ok, Efe A.  The comparison of income distributions when     
            needs differ.  18p.                                         
     9506   Ok, Efe A. & Kranich, Laurence.  The measurement of         
            opportunity inequality: a cardinality-based approach.  24p. 
     9426   Peleg, Bezalel.  A continuous double implementation of the  
            constrained Walras equilibrium.  15p.                       
     9505   Peleg, Bezalel.  Double implementation of the Lindahl       
            equilibrium by a continuous mechanism.  22p.                
     9514   Peleg, Bezalel.  The nonexistence of a planned course of    
            interaction between a group of rational decision-makers.    
            13p.                                                        
     9419   Pestieau, Pierre, Possen, uri M. & Slutsky, Steven M.  The  
            value of explicit randomness in the tax code.  25p.         
     9518   Puhakka, Mikko & Wissink, Jennifer P.  Strategic            
            complementarity, multiple equilbria and externalities in    
            Cournot competition.  17p.                                  
     9421   Schreft, Stacey L. & Smith, Bruce D.  The effects of open   
            market operations in a model of intermediation and growth.  
            58p.                                                        
     9502   Van Long, Ngo, Mitra, Tapan & Sorger, Gerhard.  Equilibrium 
            growth and sustained consumption with exhaustible resources.
             18p.                                                       
     9430   Vogelsang, Timothy J.  On testing for a unit root in the    
            presence of additive outliers.  19p.                        
     9424   Vogelsang, Timothy J.  Testing for a shift in mean without  
            having to estimate serial correlation parameters.  49p.     
     9501   Wan, Henry & Jiang, Guorong.  Five policy-oriented exercises
            in a monetary economy.  20p.                                
     9423   Yang, Xuelin.  A model of non-convergent volatility of      
            equilibrium asset prices.  26p.                             

     CORNELL UNIVERSITY.  Department of Economics.                      

     438    Easley, David, Kiefer, Nicholas M. & O'Hara, Maureen.       
            Cream-skimming or profit-sharing?: the curious role of      
            purchased order flow.  37p.                                 
     441    Jeong, Kap-Young & Masson, Robert T.  Visible and invisible 
            hands: Korean industrial policy, market structure dynamics, 
            and domestic competition.  33p.                             
     440    Paternostro, Stefano.  The poverty trap: the dual           
            externality model and its policy implications.  27p.        
     444    Basu, Kaushik & Van, Pham Hoang.  The economics of child    
            labor.  46p.                                                
     437    Conlin, Mike.  Reputation in bargaining: National Football  
            League contract negotiations.  44p.                         
     439    Conlin, Mike.  Signalling in National Football League       
            contract negotiations.  44p.                                
     443    Mitchell, Janet.  The problem of bad debts: cleaning banks' 
            balance sheets in economies in transition.  39p.            
     442    Mitchell, Janet.  Strategic creditor passivity in economies 
            in transition.  36p.                                        

     COWLES FOUNDATION FOR RESEARCH IN ECONOMICS AT YALE UNIVERSITY.    

     1111r  Andrews, Donald W.K.  A conditional Kolmogorov test.  36p.  

                                                           PAGE  25

     1109   Brown, Donald J. & Matzkin, Rosa L.  Testable restrictions  
            on the equilibrium manifold.  23p.                          
     1108   Buchinsky, Moshe & Yosha, Oved.  Evaluating the probability 
            of failure of a banking firm.  52p.                         
     1110   Shiller, Robert J. & Schneider, Ryan.  Labor income indices 
            designed for use in contracts promoting income risk         
            management.  38p.                                           
     1115   Shiller, Robert J.  Why do people dislike inflation?.  65p. 
     1126   Aliprantis, C.D., Brown, D.J. & Werner, J.  Hedging with    
            derivatives in incomplete markets.  17p.                    
     1120   Andrews, Donald W.K.  A stopping rule for the computation of
            generalized method of moments estimators.  27p.             
     1119   Andrews, Donald W.K. & Schafgans, Marcia M.A.               
            Semiparametric estimation of a sample selection model.  34p.
     1124   Andrews, Donald W.K., Liu, Xuemei & Ploberger, Werner.      
            Tests of seasonal and non-seasonal serial correlation.  33p.
     1127   Barany, Imre & Scarf, Herbert E.  Matrices with identical   
            sets of neighbors.  16p.                                    
     1122   Bergemann, Dirk & Valimaki, Juuso.  Market experimentation  
            and pricing.  39p.                                          
     1125   Campbell, John Y. & Shiller, Robert J.  A scorecard for     
            indexed government debt.  63p.                              
     1121   Fair, Ray C.  Testing the standard view of the long-run     
            unemployment-inflation relationship.  32p.                  
     1123   Geanakoplos, John.  Two brief periods of Arrow's            
            impossibility theorem.  6p.                                 
     1118   Linton, Oliver.  An asymptotic expansion in the GARCH (1,1) 
            model.  29p.                                                
     1113   Bergemann, Dirk & Valimaki, Juuso.  Learning and stragegic  
            pricing.  33p.                                              
     1116   Fair, Ray C. & Macunovich, Diane J.  Explaining the labor   
            force participation of women 20-24.  22p.                   
     1114   Grant, Simon, Kajii, Atsushi & Polak, Ben.  Preference for  
            information.  43p.                                          
     1117   Nordhaus, William D. & Popp, David.  What is the value of   
            scientific knowledge?: an application to global warming     
            using the PRICE model.  49p.                                
     1112   Shubik, Martin.  Time and money.  23p.                      
     1129   Fair, Ray C.  Estimated inflation costs had European        
            unemployment been reduced in the 1980s by macro policies.   
            16p.                                                        
     1128   Geanakoplos, John.  The hangman's paradox and Newcomb's     
            paradox as psychological games.  19p.                       
     1131   Geanakoplos, John.  Nash and Walras equilibrium via Brouwer.
             18p.                                                       
     1123r  Geanakoplos, John.  Three brief proofs of Arrow's           
            impossibility theorem.  6p.                                 
     1130   Whang, Yoon-Jae & Linton, Oliver.  The limiting behavior of 
            kernel estimates of the Lyapunov exponent for stochastic    
            time series.  26p.                                          
     1132   Bak, P., Paczuski, M. & Shubik, Martin.  Price variations in
            a stock market with many agents.  46p.                      
     1133   Ghosal, S. & Polemarchakis, H.M.  Exchange and optimality.  
            17p.                                                        




                                                           PAGE  26

     1134   Phillips, Peter C.B. & Lee, Chin Chin.  Efficiency gains    
            from quasi-differencing under nonstationarity.  25p.        
     1135   Phillips, Peter C. B.  Spurious regression unmasked.  36p.  

     (ENGLAND) CENTRE FOR ECONOMIC POLICY RESEARCH.                     

     1308   Baldwin, Richard E., Forslid, Rikard & Haaland, Jan.        
            Investment creation and investment diversion: simulation    
            analysis of the single market programme.  36p.              
     1294   Bayoumi, Tamim & Eichengreen, Barry.  Is regionalism simply 
            a diversion?: evidence from the evolution of the EC and     
            EFTA.  40p.                                                 
     1303   Beetsma, Roel M.W.J & Bovenberg, A. Lans.  Designing fiscal 
            and monetary institutions for a European monetary union.    
            23p.                                                        
     1250   Berglof, Erik & Roland, Gerard.  Bank restructuring and soft
            budget constraints in financial transition.  28p.           
     1270   Berliant, Marcus & Zenou, Yves.  Labour specialization and  
            city formation.  27p.                                       
     1266   Blomstrom, Magnus & Kokko, Ari.  Foreign direct investment  
            and politics: the Swedish model.  30p.                      
     1302   Boeri, Tito & Burda, Michael C.  Active labour market       
            policies, job matching and the Czech miracle.  13p.         
     1265   Canova, Fabio & Marcet, Albert.  The poor stay poor:        
            non-convergence across countries and regions.  44p.         
     1260   Corado, Cristina, Benacek, Vladimir & Caban, Wieslaw.       
            Adjustment and performance of the textile and clothing      
            industry in the Czech Republic, Poland and Portugal.  41p.  
     1274   de la Fuente, Angel.  Catch-up, growth and convergence in   
            the OECD.  44p.                                             
     1275   de la Fuente, Angel.  The empirics of growth and            
            convergence: a selective review.  57p.                      
     1276   de la Fuente, Angel & Marin, Jose Maria.  Innovation, `bank'
            monitoring and endogenous financial development.  40p.      
     1301   Djankov, Simeon & Hoekman, Bernard.  Trade liberalization   
            and enterprise restructuring in Bulgaria, 1992-94.  23p.    
     1261   Dow, James & Gorton, Gary.  Stock market efficiency and     
            economic efficiency: is there a connection?.  37p.          
     1280   Elliott, Graham & Fatas, Antonio.  International business   
            cycles and the dynamics of the current account.  28p.       
     1264   Gerlach, Stefan.  The information content of the term       
            structure: evidence for Germany.  20p.                      
     1284   Giavazzi, Francesco & Pagano, Marco.  Non-Keynesian effects 
            of fiscal policy changes: international evidence and the    
            Swedish experience.  48p.                                   
     1272   Haaland, Jan I. & Wooton, Ian.  Reciprocal anti-dumping and 
            the location of firms.  20p.                                
     1263   Hardouvelis, Gikas A. & Kim, Dongcheol.  Price volatility   
            and futures margins.  35p.                                  
     1262   Hardouvelis, Gikas A., Kim, Dongcheol & Wizman, Thierry A.  
            Asset pricing models with and without consumption: an       
            empirical evaluation.  40p.                                 
     1269   Helpman, Elhanan.  Politics and trade policy.  34p.         
     1293   Kuhn, Kai-Uwe & Vives, Xavier.  Excess entry, vertical      
            integration and welfare.  36p.                              



                                                           PAGE  27

     1304   Lockwood, Ben.  Commodity tax harmonization with public     
            goods: an alternative perspective.  31p.                    
     1292   Martin, Philippe & Ottaviano, Gianmarco I.P.  The geography 
            of multi-speed Europe.  27p.                                
     1281   Martin, Philippe & Rogers, Carol A.  Long-term growth and   
            short-term economic instability.  26p.                      
     1306   Navon, Ami, Shy, Oz & Thisse, Jacques-Francois.  Product    
            differentiation in the presence of positive and negative    
            network effects.  24p.                                      
     1309   Puga, Diego & Venables, Anthony J.  Preferential trading    
            arrangements and industrial location.  33p.                 
     1268   Schulz, Norbert.  Are markets more competitive if           
            commodities are closer substitutes?.  25p.                  
     1277   Schulz, Norbert & Stahl, Konrad.  Do consumers search for   
            the highest price?: equilibrium & monopolistic optimum in   
            differentiated product markets.  35p.                       
     1279   Shadman-Mehta, Fatemeh & Sneesens, Henri.  Skill demand and 
            factor substitution.  32p.                                  
     1278   Sinn, Hans-Werner.  A theory of the welfare state.  35p.    
     1297   von Hagen, Jurgen.  Reciprocity and inflation in federal    
            monetary unions.  24p.                                      
     1267   Walz, Uwe.  Transport costs, intermediate goods and         
            localized growth.  28p.                                     
     1289   Bayoumi, Tamim.  Explaining consumption: a simple test of   
            alternative hypotheses.  30p.                               
     1299   Beetsma, Roel M.W.J & Bovenberg, A. Lans.  Does monetary    
            unification lead to excessive debt accumulation?.  25p.     
     1317   Bond, Eric W., Syropoulos, Constantinos & Winters, L. Alan. 
            Deepening of regional integration and multilateral trade    
            agreements.  43p.                                           
     1320   Casella, Alessandra.  Large countries, small countries and  
            the enlargement of trade blocs.  37p.                       
     1307   Darvas, Zsolt.  Exchange rate premia and the credibility of 
            the crawling target zone in Hungary.  28p.                  
     1283   Dow, William H., et al.  Death, tetanus and aerobics: the   
            evaluation of disease-specific health interventions.  37p.  
     1310   Evans, George W., Honkapohja, Seppo & Marimon, Ramon.       
            Convergence in monetary inflation models with heterogeneous 
            learning rules.  32p.                                       
     1285   Forni, Mario & Reichlin, Lucrezia.  Dynamic common factors  
            in large cross-sections.  17p.                              
     1318   Haisken-De New, John P & Zimmermann, Klaus F.  Wage and     
            mobility effects of trade and migration.  23p.              
     1300   Hoekman, Bernard & Djankov, Simeon.  Catching up with       
            Eastern Europe?: the European Union's Mediterranean free    
            trade initiative.  35p.                                     
     1291   Karp, Larry & Tahvonen, Olli.  International trade in       
            exhaustible resources: a cartel-competitive fringe model.   
            36p.                                                        
     1315   Obstfeld, Maurice.  Models of currency crises with          
            self-fulfilling features.  19p.                             
     1319   O'Rourke, Kevin H.  Trade, migration and convergence: an    
            historical perspective.  46p.                               
     1314   Orszag, J. Michael & Zoega, Gylfi.  Hiring risk and labour  
            market equilibrium.  18p.                                   



                                                           PAGE  28

     1295   Padilla, A. Jorge & Pagano, Marco.  Endogenous communication
            among lenders and entrepreneurial incentives.  35p.         
     1273   Pinto, Brian & van Wijnbergen, Sweder.  Ownership and       
            corporate control in Poland: why state firms defied the     
            odds.  39p.                                                 
     1286   Quah, Danny T.  Regional convergence clusters across Europe.
             16p.                                                       
     1305   Rodrik, Dani.  Trade strategy, investment and exports:      
            another look at East Asia.  40p.                            
     1321   Rosenkranz, Stephanie.  Simultaneous choice of process and  
            product innovation.  28p.                                   
     1298   Saint-Paul, Gilles.  Labour market institutions and the     
            cohesion of the middle class.  12p.                         
     1290   Sapir, Andre & Sekkat, Khalid.  Optimum electoral areas.    
            31p.                                                        
     1313   Soderlind, Paul.  Forward interest rates as indicators of   
            inflation expectations.  27p.                               
     1296   von Hagen, Jurgen.  East Germany: the economics of kinship. 
            39p.                                                        
     1322   von Weizsacker, Robert K.  Does an aging population increase
            inequality?.  24p.                                          
     1288   Widgren, Mika.  A voting power analysis of supranational and
            national influence in the EU.  15p.                         
     1316   Winters, L. Alan.  Regionalism and the rest of the world:   
            the irrelevance of the Kemp-Wan theorem.  12p.              
     1345   Acemoglu, Daron.  Matching, heterogeneity and the evolution 
            of income distribution.  41p.                               
     1328   Anderson, Simon P. & de Palma, Andre.  From local to global 
            competition.  49p.                                          
     1331   Baldwin, Richard E. & Seghezza, Elena.  Testing for         
            trade-induced investment-led growth.  30p.                  
     1335   Ben-David, Dan & Loewy, Michael B.  Knowledge dissemination,
            capital accumulation, trade, and endogenous growth.  21p.   
     1336   Ben-David, Dan, Lumsdaine, Robin L. & Papell, David H.  The 
            unit root hypothesis in long term output: evidence from two 
            structural breaks in 16 countries.  18p.                    
     1256   Boltho, Andrea, Carlin, Wendy & Scaramozzino, Pasquale.     
            Will East Germany become a new Mezzogiorno?.  33p.          
     1326   Cabrales, Antonio & Motta, Massimo.  Country asymmetries,   
            endogenous product choice and the speed of trade            
            liberalization.  47p.                                       
     1287   Correia, Isabel & Teles, Pedro.  Is the Friedman rule       
            optimal when money is an intermediate good?.  21p.          
     1333   Crafts, Nicholas F.R.  Endogenous growth: lessons for and   
            from economic history.  89p.                                
     1353   Danthine, Jean-Pierre & Donaldson, John B.  Labour          
            contracts, operating leverage and asset pricing.  41p.      
     1334   Dolado, Juan J. & Lopez-Salido, J. David.  Hysteresis and   
            economic fluctuations (Spain, 1970-94).  34p.               
     1329   Elston, Julie Ann.  Investment, liquidity constraints and   
            bank relationships: evidence from German manufacturing      
            firms.  22p.                                                
     1340   Fatas, Antonio.  Endogenous growth and stochastic trends.   
            21p.                                                        




                                                           PAGE  29

     1325   Fauli-Oller, Ramon & Motta, Massimo.  Managerial incentives 
            for mergers.  21p.                                          
     1330   Favero, Carlo A., Giavazzi, Francesco & Spaventa, Luigi.    
            High yields: the spread on German interest rates.  47p.     
     1349   Frankel, Jeffrey A. & Rose, Andrew K.  Currency crashes in  
            emerging markets: empirical indicators.  29p.               
     1344   Fujita, Masahisa & Thisse, Jacques-Francois.  Economics of  
            agglomeration.  53p.                                        
     1350   Galor, Oded.  Convergence? Inference from theoretical       
            models.  20p.                                               
     1352   Giovannetti, Giorgia & Samiel, Hossein.  Hysteresis in      
            exports.  17p.                                              
     1311   Harhoff, Dietmar & Kane, Thomas J.  Is the German           
            apprenticeship system a panacea for the U.S. labour market?.
             33p.                                                       
     1356   Haskel, Jonathan.  The decline in unskilled employment in   
            U.K. manufacturing.  37p.                                   
     1351   Hughes-Hallett, Andrew & McAdam, Peter.  Fiscal deficit     
            reductions in line with the Maastricht criteria for monetary
            union: an empirical analysis.  56p.                         
     1312   Konrad, Kai A. & Lommerud, Kjell E.  The bargaining family  
            revisited.  23p.                                            
     1323   Lindbeck, Assar & Snower, Dennis J.  Restructuring          
            production and work.  42p.                                  
     1341   Markusen, James R. & Venables, Anthony J.  The theory of    
            endowment, intra-industry and multinational trade.  40p.    
     1282   Musu, Ignazio.  Transitional dynamics to optimal sustainable
            growth.  15p.                                               
     1271   Myers, Gordon M. & Papageorgiou, Yorgos Y.  International   
            migration controls.  35p.                                   
     1343   O'Rourke, Kevin H. & Williamson, Jeffrey G.  Around the     
            European periphery 1870-1913: globalization, schooling, and 
            growth.  64p.                                               
     1327   Ottaviano, Gianmarco I.P.  Monopolistic competition, trade, 
            and endogenous spatial fluctuations.  29p.                  
     1332   Pagano, Marco, Panetta, Fabio & Zingales, Luigi.  Why do    
            companies go public?: an empirical analysis.  55p.          
     1354   Puga, Diego & Venables, Anthony J.  The spread of industry: 
            spatial agglomeration in economic development.  35p.        
     1355   Quah, Danny T.  Twin peaks: growth and convergence in models
            of distribution dynamics.  16p.                             
     1342   Razin, Assaf & Yuen, Chi-Wa.  Labour mobility and fiscal    
            coordination: setting growth agenda for an economic union.  
            30p.                                                        
     1357   Ritschl, Albrecht.  Sustainability of high public debt: what
            the historical record shows.  22p.                          
     1338   Saint-Paul, Gilles.  Employment protection, international   
            specialization, and innovation.  22p.                       
     1337   Sutherland, Alan.  Exchange rate dynamics and financial     
            market integration.  28p.                                   
     1324   Walz, Uwe & Wellisch, Dietmar.  Strategic public provision  
            of local inputs for oligopolistic firms in the presence of  
            endogenous location choice.  25p.                           
     1346   Zweimuller, Josef & Winter-Ebmer, Rudolf.  Immigration,     
            trade, and Austrian unemployment.  26p.                     



                                                           PAGE  30

     1359   Ben-David, Dan & Rahman, A.K.M. Atiqur.  Technological      
            convergence and international trade.  22p.                  
     1347   Booth, Alison L. & McCulloch, Andrew.  Firing costs, unions 
            and employment.  33p.                                       
     1360   Booth, Alison L. & Zoega, Gylfi.  Quitting externalities    
            with uncertainty about future productivity.  22p.           
     1364   Burda, Michael C. & Profit, Stefan.  Matching across space: 
            evidence on mobility in the Czech Republic.  29p.           
     1362   Burgess, Simon & Propper, Carol.  Poverty dynamics among    
            young Americans.  42p.                                      
     1339   Coricelli, Fabrizio.  Fiscal constraints, reform strategies,
            and the speed of transition: the case of Central-Eastern    
            Europe.  47p.                                               
     1366   Halpern, Laszlo.  Real exchange rates and exchange rate     
            policy in Hungary.  36p.                                    
     1348   Lockwood, Ben.  State-contingent inflation contracts and    
            output persistence.  7p.                                    
     1368   Masson, Paul R., Bayoumi, Tamim & Samiei, Hossein.          
            International evidence on the determinants of private       
            saving.  40p.                                               
     1358   Mulligan, Casey B. & Sala-i-Martin, Xavier.  Adoption of    
            financial technologies: implications for money demand and   
            monetary policy.  50p.                                      
     1363   Roland, Gerard & Sekkat, Khalid.  Managerial career         
            concerns, privatization and restructuring in transition     
            economies.  27p.                                            
     1387   al-Nowaihi, Ali & Levine, Paul.  Independent but accountable
            Walsh contracts and the credibility problem.  38p.          
     1390   Bayoumi, Tamim & Bordo, Michael D.  Getting pegged:         
            comparing the 1879 and 1925 gold resumptions.  46p.         
     1370   Bennett, John & Dixon, Huw David.  A macro-theoretic model  
            of the Chinese economy.  27p.                               
     1365   Blomstrom, Magnus & Kokko, Ari.  Multinational corporations 
            and spillovers.  49p.                                       
     1372   Castanheira, Micael & Roland, Gerard.  Restructuring and    
            capital accumulation in transition economies: a general     
            equilibrium perspective.  19p.                              
     1361   Coles, Melvyn G. & Hildreth, Andrew K.G.  Wage bargaining,  
            inventories, and union legislation.  44p.                   
     1392   Cornelli, Francesca, Portes, Richard & Schaffer, Mark E.    
            The capital structure of firms in Central and Eastern       
            Europe.  35p.                                               
     1391   Dixon, Huw David & Santoni, Michele.  International fiscal  
            policy coordination with demand spillovers and labour       
            unions.  32p.                                               
     1369   Dumas, Bernard, Fleming, Jeff & Whaley, Robert E.  Implied  
            volatility functions: empirical tests.  34p.                
     1376   Dustmann, Christian.  Temporary migration, human capital,   
            and language fluency of migrants.  27p.                     
     1373   Francois, Joseph F. & Nordstrom, Hakan.  A green light for  
            environment, or a green light for protection?: the EU-US    
            dispute over U.S. corporate average fuel.  32p.             
     1396   Grossman, Gene M. & Helpman, Elhanan.  Intergenerational    
            redistribution with short-lived governments.  45p.          




                                                           PAGE  31

     1371   Hamermesh, Daniel S. & Pfann, Gerard A.  Adjustment costs in
            factor demand.  55p.                                        
     1386   Herrendorf, Berthold & Lockwood, Ben.  Rogoff's             
            `conservative' central banker restored.  22p.               
     1377   Hoekman, Bernard & Djankov, Simeon.  Intra-industry trade,  
            foreign direct investment and the reorientation of East     
            European exports.  29p.                                     
     1383   Leung, Charles & Quah, Danny T.  Convergence, endogenous    
            growth, and productivity disturbances.  17p.                
     1375   Lindbeck, Assar & Snower, Dennis J.  Reorganization of firms
            and labour market inequality.  11p.                         
     1374   Melitz, Jacques & Weber, Axel A.  The costs/benefits of a   
            common monetary policy in France and Germany and possible   
            lessons for monetary union.  40p.                           
     1378   Mendoza, Enrique G., Milesi-Ferretti, Gian Maria & Asea,    
            Patrick.  On the ineffectiveness of tax policy in altering  
            long-run growth: Harberger's superneutrality conjecture.    
            43p.                                                        
     1367   Orszag, J. Michael & Snower, Dennis J.  A macro theory of   
            employment vouchers.  30p.                                  
     1380   Persson, Torsten & Tabellini, Guido.  Monetary cohabitation 
            in Europe.  35p.                                            
     1381   Razin, Assaf, Sadka, Efraim & Yuen, Chi-Wa.  A pecking order
            theory of capital inflows and international tax principles. 
            38p.                                                        
     1382   Schmidt, Klaus M.  Managerial incentives and product market 
            competition.  34p.                                          
     1379   Spaventa, Luigi.  Out in the cold?: outsiders and insiders  
            in 1999: feasible and unfeasible options.  24p.             
     1398   Antolin, Pablo.  Gross worker flows: how does the Spanish   
            evidence fit the stylized facts?.  40p.                     
     1393   Baldwin, Richard E. & Seghezza, Elena.  Growth and European 
            integration: towards an empirical assessment.  27p.         
     1397   Baldwin, Richard E. & Forslid, Rikard.  Trade liberalization
            and endogenous growth: a q-theory approach.  27p.           
     1403   Benhabib, Jess & Farmer, Roger E.A.  Indeterminacy and      
            sector-specific externalities.  32p.                        
     1404   Benhabib, Jess & Farmer, Roger E.A.  The monetary           
            transmission mechanism.  28p.                               
     1395   De Grauwe, Paul.  Forward interest rates as predictors of   
            EMU.  19p.                                                  
     1405   Gatsios, Konstantine, Kollintzas, Tryphon & Lagopoulos,     
            Costas.  Time-consistent solutions to the stochastic dynamic
            strategic export subsidy problem.  52p.                     
     1406   Hardouvelis, Gikas A. & Tsiritakis, Emmanuel D.  Greek      
            closed-end fund premia: differences and similarities with   
            U.S. premia and their implications.  28p.                   
     1401   Harhoff, Dietmar, Stahl, Konrad & Woywode, Michael.  Legal  
            form, growth and exit of West German firms: empirical       
            results from manufacturing, construction, trade & servi.    
            37p.                                                        
     1407   Katsoulacos, Yannis & Ulph, David.  Endogenous innovation   
            spillovers and technology policy.  29p.                     
     1399   Kuhn, Kai-Uwe & Padilla, A. Jorge.  A theory of union power 
            and labour turnover.  43p.                                  



                                                           PAGE  32

     1402   Laruelle, Annick & Widgren, Mika.  Is the allocation of     
            voting power among the EU states fair?.  23p.               
     1385   Lutz, Stefan.  Does mutual recognition of national minimum  
            quality standards support regional convergence?.  24p.      
     1384   Lutz, Stefan.  Trade effects of minimum quality standards   
            with and without deterred entry.  31p.                      
     1400   Manzocchi, Stefano & Martin, Philippe.  Are capital flows   
            consistent with the neoclassical growth model?: evidence    
            from a cross-section of developing count.  23p.             
     1388   Rodrik, Dani.  Why do more open economies have bigger       
            governments?.  38p.                                         
     1394   Schulze, Gunther G.  Capital export, unemployment, and      
            illegal immigration.  25p.                                  
     1389   Scott, Andrew.  Consumption, `credit crunches', and         
            financial deregulation.  36p.                               
     1421   Acemoglu, Daron & Zilibotti, Fabrizio.  Agency costs in the 
            process of development.  37p.                               
     1426   Acemoglu, Daron & Zilibotti, Fabrizio.  Was Prometheus      
            unbound by chance?: risk, diversification, and growth.  41p.
     1422   Bacchetta, Philippe & Caminal, Ramon.  Do capital market    
            imperfections exacerbate output fluctuations?.  31p.        
     1420   Baldwin, Richard E. & Seghezza, Elena.  Trade-induced       
            investment-led growth.  24p.                                
     1419   Benabou, Roland.  Unequal societies.  34p.                  
     1418   Canzoneri, Matthew B., Nolan, Charles & Yates, Anthony.     
            Mechanisms for achieving monetary stability: inflation      
            targeting versus the ERM.  21p.                             
     1417   Canzoneri, Matthew B., Diba, Behzad & Eudey, Gwen.  Trends  
            in European productivity and real exchange rates:           
            implications for Maastrict convergence...  42p.             
     1429   Casella, Alessandra.  The role of market size in the        
            formation of jurisdictions.  44p.                           
     1414   De Cecco, Marcello & Giavazzi, Francesco.  The use of       
            special drawing rights in the financing of official         
            safety-net mechanisms.  22p.                                
     1412   Francois, Joseph F., Nelson, Douglas & Palmeter, N. David.  
            Public procurement: a post-Uruguay Round perspective.  36p. 
     1411   Francois, Joseph F., McDonald, Bradley & Nordstrom, Hakan.  
            Trade liberalization and investment in a multilateral       
            framework.  23p.                                            
     1410   Francois, Joseph F., McDonald, Bradley & Nordstrom, Hakan.  
            A user's guide to Uruguay Round assessments.  28p.          
     1413   Galor, Oded & Tsiddon, Daniel.  Technological progress,     
            mobility, and economic growth.  36p.                        
     1423   Guiso, Luigi & Jappelli, Tullio.  Background uncertainty and
            the demand for insurance against insurable risks.  24p.     
     1415   Hoekman, Bernard & Djankov, Simeon.  Effective protection   
            and investment incentives in Egypt and Jordan during the    
            transition to free trade with Europe.  28p.                 
     1409   Holland, Allison & Scott, Andrew.  The determinants of UK   
            business cycles.  29p.                                      
     1416   Neven, Damien & von Ungern-Sternberg, Thomas.  Competition  
            policy in Switzerland.  49p.                                
     1428   Saint-Paul, Gilles.  Voting for jobs: policy persistence and
            unemployment.  28p.                                         



                                                           PAGE  33

     1440   Anderson, Kym.  Social policy dimensions of economic        
            integration: environmental and labour standards.  37p.      
     1441   Barros, Pedro P. & Mata, Jose.  Competition policy in       
            Portugal.  42p.                                             
     1450   Benabou, Roland.  Inequality and growth.  54p.              
     1437   Bordignon, Massimo, Manasse, Paolo & Tabellini, Guido.      
            Optimal regional redistribution under asymmetric            
            information.  40p.                                          
     1435   Brulhart, Marius & Torstensson, Johan.  Regional            
            integration, scale economies and industry location in the   
            European Union.  29p.                                       
     1439   Cabral, Luis M.B.  R & D alliances as non-cooperative       
            supergames.  23p.                                           
     1408   Dex, Shirley, et al.  Women's employment transitions around 
            childbearing.  48p.                                         
     1430   Diaz, M. Pilar & Snower, Dennis J.  Employment,             
            macroeconomic fluctuations and job security.  29p.          
     1436   Dixit, Avinash, Grossman, Gene M. & Helpman, Elhanan.       
            Common agency and coordination: general theory and          
            application to tax policy.  33p.                            
     1424   Djankov, Simeon & Hoekman, Bernard.  Fuzzy transition and   
            firm efficiency: evidence from Bulgaria, 1991-4.  26p.      
     1452   Francois, Joseph F., Nordstrom, Hakan & Shiells, Clinton R. 
            Transition dynamics and trade policy reform in developing   
            countries.  33p.                                            
     1431   Geroski, Paul A., Machin, J. & Walters, Chris F.  Corporate 
            growth and profitability.  26p.                             
     1433   Geroski, Paul A., Van Reenen, John & Walters, Chris F.  How 
            persistently do firms innovate?.  30p.                      
     1432   Geroski, Paul A., Van Reenen, John & Walters, Chris F.      
            Innovations, patents and cash flow.  35p.                   
     1449   Lane, Philip R. & Perotti, Roberto.  Profitability, fiscal  
            policy, and exchange rate regimes.  35p.                    
     1443   Lutz, Stefan.  Vertical product differentiation, quality    
            standards, and international trade policy.  32p.            
     1434   Machin, Stephen, Ryan, Annette & Van Reenen, John.          
            Technology and changes in skill structure: evidence from an 
            international panel of industries.  42p.                    
     1427   Marimon, Ramon & Zilibotti, Fabrizio.  `Actual' versus      
            `virtual' employment in Europe: is Spain different?.  41p.  
     1425   Shioji, Etsuro.  Regional growth in Japan.  47p.            
     1442   Castanheira, Micael & Roland, Gerard.  The optimal speed of 
            transition: a general equilibrium analysis.  22p.           
     1454   Dow, James.  Arbitrage, hedging and financial innovation.   
            32p.                                                        
     1461   Gang, Ira N. & Zimmermann, Klaus F.  Is child like parent?: 
            educational attainment and ethnic origin.  24p.             
     1455   Lutz, Stefan.  Vertical product differentiation and entry   
            deterrence.  18p.                                           
     1451   Neven, Damien & Wyplosz, Charles.  Relative prices, trade   
            and restructuring in European industry.  31p.               
     1462   O Grada, Cormac & O'Rourke, Kevin H.  Migration as disaster 
            relief: lessons from the Great Irish Famine.  36p.          
     1459   Acemoglu, Daron.  Changes in umemployment and wage          
            inequality: an alternative theory and some evidence.  47p.  



                                                           PAGE  34

     1460   Acemoglu, Daron & Pischke, Jorn-Steffen.  Why do firms      
            train?: theory and evidence.  49p.                          
     1479   Alogoskoufis, George S. & Kalyvitis, Sarantis C.  Public    
            investment and endogenous growth in a small open economy.   
            24p.                                                        
     1474   Anderson, Kym, et al.  Asia-Pacific food markets and trade  
            in 2005: a global, economy-wide perspective.  37p.          
     1470   Arulampalam, Wiji & Booth, Alison L.  Who gets over the     
            training hurdle?: a study of the training experiences of    
            young men and women in Britain.  29p.                       
     1491   Barrett, Alan.  The effect of immigrant admission criteria  
            on immmigrant labour market characteristics.  27p.          
     1467   Bayoumi, Tamim, Coe, David T. & Helpman, Elhanan.  R & D    
            spillovers and global growth.  36p.                         
     1445   Bertocchi, Graziella.  Trade, wages and the persistence of  
            underdevelopment.  20p.                                     
     1444   Bertocchi, Graziella & Canova, Fabio.  Did colonization     
            matter for growth?: an empirical exploration into the       
            historical cause of Africa's underdevelopmen.  32p.         
     1482   Bourguignon, Francois, Lambert, Sylvie & Suwa-Eisenmann,    
            Akiko.  Distribution of export price risk in a developing   
            country.  35p.                                              
     1466   Buiter, Willem H., Corsetti, Giancarlo & Pesenti, Paolo A.  
            Interpreting the ERM crisis: country-specific and systemic  
            issues.  77p.                                               
     1448   Cadot, Olivier, de Melo, Jaime & Olarreaga, Marcelo.        
            Regional integration and lobbying for tariffs against       
            non-members.  24p.                                          
     1498   Canzoneri, Matthew B., Valles, Javier & Vinals, Jose.  Do   
            exchange rates move to address international macroeconomic  
            imbalances?.  45p.                                          
     1463   Canzoneri, Matthew B. & Diba, Behzad.  Fiscal constraints on
            central bank independence and price stability.  34p.        
     1464   Canzoneri, Matthew B., Cumby, Robert E. & Diba, Behzad.     
            Relative labour productivity and the real exchange rate in  
            the long run: evidence for a panel of OECD countries.  44p. 
     1478   Coles, Melvyn G.  Decentralized trade, entrepreneurial      
            investment and the theory of unemployment.  36p.            
     1457   De Grauwe, Paul.  Inflation targeting to achieve inflation  
            convergence in the transition towards EMU.  28p.            
     1458   De Grauwe, Paul.  The prospects of a mini currency union in 
            1999.  26p.                                                 
     1447   de Melo, Jaime, Olarreaga, Marcelo & Takacs, Wendy.  Pricing
            policy under double market power: Madagascar and the        
            international vanilla market.  27p.                         
     1481   Demertzis, Maria, Hughes-Hallett, Andrew J. & Rummel, Ole J.
             Is a two-speed system in Europe the answer to the conflict 
            between the German and the Anglo-Saxon models of monetar.   
            86p.                                                        
     1476   Dolado, Juan J., Jimeno, Juan F. & Duce, Rosa.  The effects 
            of migration on the relative demand of skilled versus       
            unskilled labour: evidence from Spain.  22p.                
     1453   Eichengreen, Barry, Rose, Andrew K. & Wyplosz, Charles.     
            Contagious currency crises.  48p.                           




                                                           PAGE  35

     1456   Favero, Carlo A., Iacone, Fabrizio & Pifferi, Marco.        
            Monetary policy, forward rates and long rates: does Germany 
            differ from the United States?.  30p.                       
     1473   Frankel, Jeffrey A. & Rose, Andrew K.  The endogeneity of   
            the optimum currency area criteria.  33p.                   
     1493   Gordon, Robert J.  Macroeconomic policy in the presence of  
            structural maladjustment.  57p.                             
     1492   Gordon, Robert J.  The time-varying NAIRU and its           
            implications for economic policy.  52p.                     
     1490   Haskel, Jonathan.  Small firms, contracting-out, computers, 
            and wage inequality: evidence from UK manufacturing.  31p.  
     1465   Henrekson, Magnus, Torstensson, Johan & Torstensson, Rasha. 
            Growth effects of European integration.  24p.               
     1472   Kuhn, Kai-Uwe & Martinez, Catalina B.  Market transparency, 
            competitive pressure, and price volatility.  35p.           
     1480   Neely, Christopher J., Weller, Paul & Dittmar, Robert.  Is  
            technical analysis in the foreign exchange market           
            profitable?: a genetic programming approach.  43p.          
     1471   Orszag, J. Michael & Snower, Dennis J.  Incapacity benefits 
            versus benefit transfers.  19p.                             
     1475   Persson, Torsten, Roland, Gerard & Tabellini, Guido.        
            Separation of powers and accountability: towards a formal   
            approach to comparative politics.  39p.                     
     1496   Rustichini, Aldo, Ichino, Andrea & Checchi, Daniele.  More  
            equal but less mobile?: education financing and             
            intergenerational mobility in Italy and the United States.  
            47p.                                                        
     1469   Veugelers, Reinhilde & Vandenbussche, Hylke.  European      
            anti-dumping policy and the profitability of national and   
            international collusion.  34p.                              
     1485   Vinals, Jose & Jimeno, Juan F.  Monetary union and European 
            unemployment.  52p.                                         
     1468   Buiter, Willem H., Lago, Ricardo & Stern, Nicholas.         
            Promoting an effective market economy in a changing world.  
            55p.                                                        
     1486   Bulow, Jeremy, Huang, Ming & Klemperer, Paul.  Toeholds and 
            takeovers.  36p.                                            
     1483   Dolado, Juan J., Lopez-Salido, J. David & Vega, Juan Luis.  
            Short- and long-run Phillips trade-offs and the cost of     
            disinflationary policies.  45p.                             
     1487   Emons, Winand.  Expertise, contingent fees, and excessive   
            litigation.  16p.                                           
     1502   Hoekman, Bernard.  Multilateral disciplines on government   
            procurement: what's in it for developing countries?.  39p.  
     1501   Hoekman, Bernard.  Trade and competition policy in the WTO  
            system.  22p.                                               
     1446   Irmen, Andreas & Thisse, Jacques-Francois.  Competition in  
            multi-characteristics spaces: Hotelling was almost right.   
            36p.                                                        

     UNIVERSITY OF ESSEX.  Department of Economics.                     

     448    Bergstrom, A.R.  Gaussian estimation of mixed order         
            continuous time dynamic models with unobservable stochastic 
            trends from mixed st.  72p.                                 



                                                           PAGE  36

     445    Boadway, Robin & Keen, Michael.  Efficiency and the optimal 
            direction of federal-state transfers.  19p.                 
     444    Chambers, Marcus J.  The estimation of systems of joint     
            differential difference equations.  22p.                    
     446    Chambers, Marcus J.  Seasonality in continuous time models. 
            29p.                                                        
     449    Guariglia, Alessandra & Schiantarelli, Fabio.  Production   
            smoothing, firms' heterogeneity, and financial constraints: 
            evidence from a panel of U.K. firms.  35p.                  
     443    Shorrocks, Anthony F.  Approximating unanimity orderings: an
            application to Lorenz dominance.  30p.                      
     442    Shorrocks, Anthony F.  Deprivation profiles and deprivation 
            indices.  19p.                                              
     447    Shorrocks, Anthony F.  Inequality and welfare evaluation of 
            heterogeneous income distributions.  30p.                   
     450    Burdett, Kenneth & Coles, Melvyn G.  Steady state price     
            distributions in a noisy search equilibrium.  50p.          
     453    Coles, Melvyn & Philippopoulos, Apostolis.  Are exchange    
            rate bands better than fixed exchange rates?.  36p.         
     456    Guariglia, Alessandro.  Simulating the inventory behaviour  
            in a Q-theoretic framework.  44p.                           
     452    Katsimi, Margarita.  Elections and the size of the public   
            sector.  38p.                                               
     451    Katsimi, Margarita.  Firing costs, job tenure and           
            employment.  28p.                                           
     455    Lockwood, Ben & Phillippoulos, Apostolis.  Politics and     
            fiscal policy: theory and evidence from Greece.  27p.       
     454    Masters, Adrian.  Incentives for investment in human and    
            physical capital.  35p.                                     
     457    Masters, Adrian M.  Wage posting in two-sided search and the
            minimum wage.  27p.                                         
     460    Jafarey, Saqib, Kaskarelis, Vannis & Philippopoulos,        
            Apostolis.  Public debt and private investment with         
            endogenous government spending.  35p.                       
     461    Katsimi, Margarita.  Explaining the size of the public      
            sector.  23p.                                               
     459    Kemp, Gordon C.R.  Scale equivalence and the Box-Cox        
            transformation.  8p.                                        
     458    McCrorie, J. Roderick.  Interpolating exogenous variables in
            open continuous time dynamic models.  35p.                  

     EUROPEAN UNIVERSITY INSTITUTE.  Department of Economics.           

     9524   Artis, Michael J., Kontolemis, Zenon G. & Osborn, Denise R. 
            Classical business cycles for G7 and European countries.    
            39p.                                                        
     9512   Boeri, Tito.  Is job turnover countercyclical?.  32p.       
     9519   Hopkins, Ed.  Learning, matching and aggregation.  41p.     
     9514   Jimenez, Miguel & Marchetti, Domenico.  Thick-market        
            externalities in U.S. manufacturing: a dynamic study with   
            panel data.  30p.                                           
     9529   Valentinyi, Akos.  Rules of thumb and local interaction.    
            48p.                                                        
     9534   Artis, M.J. & Zhang, W.  International business cycles and  
            the ERM: is there a European business cycle?.  29p.         



                                                           PAGE  37

     9538   Boeri, Tito.  On the job search and unemployment duration.  
            42p.                                                        
     9544   Ehrbeck, Tilman & Waldmann, Robert.  Is honesty always the  
            best policy?.  24p.                                         
     9536   Guarda, Paolo & Salmon, Mark.  On the detection of          
            nonlinearity in foreign exchange data.  38p.                
     9541   Nero, Giovanni.  Spatial multiproduct duopoly pricing.  27p.
     9542   Nero, Giovanni.  Spatial multiproduct pricing: empirical    
            evidence on intra-European duopoly airline markets.  29p.   
     9535   Phlips, Louis.  On the detection of collusion and predation.
             26p.                                                       
     9543   Waldmann, Robert.  Rational stubborness?.  14p.             

     THE MAURICE FALK INSTITUTE FOR ECONOMIC RESEARCH IN ISRAEL.        

     9506   Beenstock, Michael & ben Menahem, Yitzhak.  The labor market
            absorption of CIS immigrants to Israel: 1989-1994.  42p.    
     9602   Yitzhaki, Shlomo.  Do we need a separate poverty            
            measurement?.  40p.                                         
     9601   Gross, Nachum T.  Herzl on discrimination in "Der           
            Judenstaat".  14p.                                          
     9604   Amir, Shmuel.  Unemployment in Israel 1964-1989: an analysis
            based on the Beveridge curve model.  16p.                   
     9606   Lach, Saul & Tsiddon, Daniel.  Small price changes and menu 
            costs.  12p.                                                
     9606   Lach, Saul & Tsiddon, Daniel.  Staggering and               
            synchronization in price-setting: evidence from multiproduct
            firms.  36p.                                                
     9607   Gronau, Reuben.  Who needs cabs anyway?: optimum diversity  
            in the public transport market.  34p.                       
     9608   Gross, Nachum T.  Herzl's economic conception.  18p.        
     9609   Hellerstein, Judith & Neumark, David.  Wage and productivity
            differences within and between plants: evidence from Israeli
            panel data.  32p.                                           
     9610   Kandel, Eugene & Zilberfarb, Ben-Zion.  Differential        
            interpretation of information in inflation forecasts.  24p. 

     FEDERAL RESERVE BANK OF ATLANTA.  Research Department.             

     9516   Amershi, Amin H. & Ramamurtie, B. Sailesh.  Rational        
            expectations equilibrium in an economy with segmented       
            capital asset markets.  60p.                                
     9515   Andersson, Hans, Ramamurtie, B. Sailesh & Ramaswami, Bharat.
             An intertemporal model of consumption and portfolio        
            allocation.  36p.                                           
     9514   Andersson, Hans, Ramamurtie, B. Sailesh & Ramaswami, Bharat.
             Off-farm income and risk reduction in agriculture: when    
            does it matter?.  14p.                                      
     9513   Bliss, Robert R. & Ritchken, Peter.  Empirical tests of two 
            state variable Heath-Jarrow-Morton models.  32p.            
     9512   Bliss, Robert R. & Ronn, Ehud I.  The implied volatility of 
            U.S. interest rates: evidence from callable U.S. Tresuries. 
            54p.                                                        
     9510   Espinosa, Marco A. & Yip, Chong K.  Fiscal and monetary     
            policy interactions in an endogenous growth model with      
            financial intermediaries.  43p.                             


                                                           PAGE  38

     9511   Kahn, Charles M. & Roberds, William.  On the efficiency of  
            cash settlement.  17p.                                      
     9517   Dwyer, Gerald P, Locke, Peter & Yu, Wei.  Index arbitrage   
            and nonlinear dynamics between the S & P futures and cash.  
            40p.                                                        
     9518   Hu, Jie.  Financial market breakdown due to strategy        
            constraints and information assymetry.  36p.                
     9519   Nandi, Saikat.  Asymmetric information about volatility and 
            option markets.  28p.                                       
     96-2   Dothan, Michael, Ramamurtie, Sailesh & Ulman, Scott.        
            Applying economic restrictions to foreign exchange rate     
            dynamics: spot rates, futures, and options.  35p.           
     96-1   Shrikhande, Milind M.  Nonadditive habit formation and the  
            equity premium puzzle.  36p.                                
     96-3   Dwyer, Gerald P. & Hasan, Iftekhar.  Suspension of payments,
            bank failures, and the nonbank public's losses.  48p.       
     96-5   Abken, Peter A., Madan, Dilip B. & Ramamurtie, Sailesh.     
            Estimation of risk-neutral and statistical densities by     
            hermite polynomial approximation, with an application to Eu.
             60p.                                                       
     96-7   Chahal, Mandeep S., Rebello, Michael J. & Smith, Stephen D. 
            Emerging debt and equity markets: an exploratory            
            investigation of integration using daily data.  43p.        
     96-4   Espinosa, Marco & Yip, Chong K.  An endogenous growth model 
            of money, banking, and financial repression.  31p.          
     96-6   Wall, Larry D., Tallman, Ellis W. & Abken, Peter A.  The    
            impact of a dealer's failure on OTC derivatives market      
            liquidity during volatile periods.  33p.                    
     96-9   Nandi, Saikat.  Pricing and hedging index options under     
            stochastic volatility: an empirical examination.  34p.      
     96-8   Zha, Tao.  Identification, vector autoregression, and block 
            recursion.  32p.                                            
     9611   Roberds, William & Whiteman, Charles H.  Endogenous term    
            premia and anomalies in the term structure of interest      
            rates: explaining the predictability smile.  41p.           

     FEDERAL RESERVE BANK OF CHICAGO.  Research Department.             

     9517   Ljungqvist, Lars & Sargent, Thomas J.  The European         
            unemployment dilemma.  28p.                                 
     9519   Segal, Lewis M.  Flexible employment: composition and       
            trends.  27p.                                               
     95-5   Burnside, Craig, Eichenbaum, Martin & Rebelo, Sergio.       
            Capital utilization and returns to scale.  51p.             
     96-5   Chari, V.V., Christiano, Lawrence J. & Eichenbaum, Martin.  
            Expectation traps and discretion.  38p.                     
     9312   Evans, Charles L. & Santos, Fernando.  Monetary policy      
            shocks and productivity measures in the G-7 countries.  58p.
     9611   Campbell, Jeffrey R. & Kuttner, Kenneth N.  Macroeconomic   
            effects of employment reallocation.  30p.                   
     96-9   Kouparitsas, Michael A.  North-South business cycles.  49p. 
     9610   Kouparitsas, Michael A.  North-South financial integration  
            and business cycles.  48p.                                  
     9619   Aaronson, Daniel.  Using sibling data to estimate the impact
            of neighborhoods on children's educational outcomes.  46p.  



                                                           PAGE  39

     9617   Campbell, Jeffrey R. & Fisher, Jonas D.M.  Aggregate        
            employment fluctuations with microeconomic asymmetries.     
            28p.                                                        
     9616   Christiano, Lawrence J. & Harrison, Sharon G.  Chaos,       
            sunspots, and automatic stabilizers.  64p.                  
     9614   Friedman, Benjamin M. & Kuttner, Kenneth N.  A price target 
            for U.S. monetary policy?: lessons from the experience with 
            money growth targets.  69p.                                 
     9615   Ljungqvist, Lars & Uhlig, Harald.  Catching up with the     
            Keynesians.  22p.                                           

     FEDERAL RESERVE BANK OF DALLAS.  Research Department.              

     9519   Balke, Nathan S. & Chang, Chih-Ping.  Credit and economic   
            activity: shocks or propagation mechanism?.  46p.           
     9518   Koenig, Evan F.  Targeting nominal income: a closer look.   
            8p.                                                         
     9517   Zarazaga, Carlos E.  Hyperinflations and moral hazard in the
            appropriation of seigniorage: an empirical implementation   
            with a calibratio.  63p.                                    
     9601   Haslag, Joseph H.  The monetary policy effects on seignorage
            revenue in a simple growth model.  35p.                     
     9602   Boisso, Dale, Grosskopf, Shawna & Hayes, Kathy.  Regional   
            productivity and efficiency in the U.S.: effects of business
            cycles and public capital.  26p.                            
     9609   Balke, Nathan S. & Wynne, Mark A.  An equilibrium analysis  
            of relative price changes and aggregate inflation.  41p.    
     9604   Boisso, D., Grosskopf, Shawna & Hayes, Kathy.  The response 
            of local governments to Reagan-Bush fiscal federalism.  20p.
     9608   Brown, Stephen P.A. & Huntington, Hillard G.  Some          
            implications of increased cooperation in world oil          
            conservation.  20p.                                         
     9606   Dolmas, Jim & Huffman, Gregory W.  An exploration into the  
            effects of dynamic economic stabilization.  26p.            
     9603   Duca, John V.  Inflation, unemployment, and duration.  6p.  
     9607   Hayes, Kathy J. & Ross, Leola B.  Is airline price          
            dispersion the result of careful planning or competitive    
            forces?.  27p.                                              
     9605   Huffman, Gregory W.  Endogenous tax determination and the   
            distribution of wealth.  43p.                               
     9610   Duffee, Gregory R. & Prowse, Stephen.  What's good for GM..?
             Using auto industry stock returns to forecast business     
            cycles & test the q-theory.  31p.                           
     9613   Brown, Stephen P.A., Oppedahl, David B. & Yucel, Mine K.    
            Oil prices and aggregate economic activity: a study of eight
            OECD countries.  25p.                                       
     9612   Taylor, Lori L. & Yucel, Mine K..  The policy sensitivity of
            industries and regions.  23p.                               

     FEDERAL RESERVE BANK OF DALLAS.  Financial Industry Studies.       

     1/96   Hooks, Linda M. & Robinson, Kenneth J.  Moral hazard and    
            Texas banking in the 1920s.  35p.                           

     FEDERAL RESERVE BANK OF KANSAS CITY.  Research Division.           

     9511   Hess, Gregory D. & Shin, Kwanho.  Some international        
            evidence on output-inflation tradeoffs.  31p.               
                                                           PAGE  40

     9512   Heinecke, Ken & Shen, Pu.  Bank derivative activity in the  
            1990s.  22p.                                                
     9514   Becketti, Sean, Hakkio, Craig S. & Joines, Douglas H.       
            Exchange rates in the long run.  40p.                       
     9513   Clark, Todd E.  Forecasting an aggregate of cointegrated    
            disaggregates.  32p.                                        
     9515   Filardo, Andrew J. & Gordon, Stephen F.  Business cycle     
            turning points: two empirical business cycle model          
            approaches.  35p.                                           
     9516   Golob, John E.  Equities and the economy: another           
            intertemporal anomaly.  21p.                                
     9601   Kozicki, Sharon.  Multivariate detrending under common trend
            restrictions: implication for business cycle research.  25p.
     9602   Blomberg, S. Brock & Hess, Gregory D.  Politics and exchange
            rate forecasts.  31p.                                       
     9604   Chirinko, Robert S.  Finance constraints, liquidity, and    
            investment spending: theoretical restrictions &             
            international evidence.  44p.                               
     9603   Clark, Todd E.  Finite sample properties of tests for       
            forecast equivalence.  31p.                                 

     FEDERAL RESERVE BANK OF MINNEAPOLIS.  Research Department.         

     201    Atkeson, Andrew & Kehoe, Patrick J.  Industry evolution and 
            transition: measuring investment in organization capital.   
            51p.                                                        
     202    Atkeson, Andrew & Kehoe, Patrick J.  Social insurance and   
            transition.  33p.                                           
     200    Christiano, Lawrence J. & Fisher, Jonas D.M.  Tobin's q and 
            asset returns: implications for business cycle analysis.    
            60p.                                                        
     WP546  Atkeson, Andrew & Kehoe, Patrick J.  Optimal social         
            insurance, incentives, and transition.  14p.                
     WP560  Boldrin, Michele, Christiano, Lawrence J. & Fisher, Jonas   
            D.M.  Asset pricing lessons for modelling business cycles.  
            51p.                                                        
     203    Aiyagari, S. Rao & McGrattan, Ellen R.  The optimum quantity
            of debt.  27p.                                              
     204    Chari, V.V., Kehoe, Patrick J. & McGrattan, Ellen R.  The   
            poverty of nations: a quantitative exploration.  61p.       
     205    Holmes, Thomas J.  The effects of state policies on the     
            location of industry: evidence from state borders.  45p.    
     563    Kehoe, Timothy J.  Social accounting matrices and applied   
            general equilibrium models.  43p.                           
     209    Cole, Harold L. & Kehoe, Patrick J.  Reputation spillover   
            across relationships: reviving reputation models of debt.   
            23p.                                                        
     211    Cole, Harold L. & Kehoe, Timothy J.  Self-fulfilling debt   
            crises.  41p.                                               
     210    Cole, Harold L. & Kehoe, Timothy J.  A self-fulfilling model
            of Mexico's 1994-95 debt crisis.  30p.                      
     206    Ferson, Wayne E. & Jagannathan, Ravi.  Econometric          
            evaluation of asset pricing models.  51p.                   
     208    Jagannathan, Ravi & Wang, Zhenyu.  The conditional CAPM and 
            the cross-section of expected returns.  73p.                



                                                           PAGE  41

     207    Mercenier, Jean & Yeldan, Erinc.  How prescribed policy can 
            mislead when data are defective: a follow-up to Srinivasan  
            (1994) using general equilibri.  22p.                       
     212    Atkeson, Andrew & Rios-Rull, Jose Victor.  The balance of   
            payments and borrowing constraints: an alternative view of  
            the Mexican crisis.  25p.                                   
     213    Cole, Harold L., Mailath, George L. & Postlewaite, Andrew.  
            Class sytems and the enforcement of social norms.  40p.     
     214    Christiano, Lawrence J. & Harrison, Sharon G.  Chaos,       
            sunspots, and automatic stabilizers.  66p.                  
     215    Velde, Francois R., Weber, Warren E. & Wright, Randall.  A  
            model of commodity money, with applications to Gresham's Law
            and the debasement puzzle.  34p.                            
     216    Imrohoroglu, Ayse, Merlo, Antonio & Rupert, Peter.  On the  
            political economy of income redistribution and crime.  38p. 
     217    Chari, V.V., Kehoe, Patrick J. & McGrattan, Ellen R.  Sticky
            price models of the business cycle: can the contract        
            multiplier solve the persistence problem?.  31p.            
     218    Kocherlakota, Narayana R.  Money is memory.  37p.           

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

     107    Santos, Manual S. & Vigo, Jesus.  Accuracy estimates for a  
            numerical approach to stochastic growth models.  45p.       
     108    Stokey, Nancy L.  NAFTA and Mexican development.  36p.      
     109    Stokey, Nancy L.  A note on dynamic programing with         
            homogeneous functions.  17p.                                
     110    Ortigueira, Salvador & Santos, Manuel.  On convergence in   
            endogenous growth models.  37p.                             
     111    Pesaran, M. Hashem & Ruge-Murcia, Francisco J.              
            Limited-dependent rational expectations models with jumps.  
            51p.                                                        
     112    Campbell, Jeffrey R. & Fisher, Jonas D.M.  Aggregate        
            employment fluctuations with microeconomic asymmetries.     
            28p.                                                        
     113    Hassler, John.  Fluctuating risk in an aggregated Ss-model. 
            26p.                                                        

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

     8      Fleming, Michael J. & Moon, John J.  Preserving firm value  
            through exit: the case of voluntary liquidiations.  50p.    
     9      Groshen, Erica L. & Schweitzer, Mark E.  The effects of     
            inflation on wage adjustments in firm-level data: grease or 
            sand?.  62p.                                                
     10     Antzoulatos, Angelos A.  Error correction mechanisms and    
            short-run expectations.  23p.                               
     11     Bartolini, Leonardo & Drazen, Allan.  Capital account       
            liberalization as a signal.  44p.                           
     12     Cantor, Richard & Packer, Frank.  Multiple ratings and      
            credit standards: differences of opinion in the credit      
            rating industry.  41p.                                      
     14     Campa, Jose & Goldberg, Linda S.  Investment, pass-through, 
            and exchange rates: a cross-country comparison.  59p.       




                                                           PAGE  42

     13     Osler, C.L. & Carlson, John A.  Rational speculators and    
            exchange rate volatility.  30p.                             
     15     Harrigan, James.  Technology, factor supplies and           
            international specialization: estimating the neoclassical   
            model.  42p.                                                
     16     Rapaport, Carol.  Housing demand and community choice: an   
            empirical analysis.  33p.                                   

     FEDERAL RESERVE BANK OF PHILDELPHIA.  Economic Research Division.  

     9522   Ball, Laurence & Croushore, Dean.  Expectations and the     
            effects of monetary policy.  32p.                           
     9525   DeFina, Robert H., Stark, Thomas C. & Taylor, Herbert E.    
            The long-run variance of output and inflation under         
            alternative monetary policy rules.  24p.                    
     9524   Morris, Stephen & Shin, Hyun Song.  Informational events    
            that trigger currency attacks.  29p.                        
     9523   Shaffer, Sherrill.  The discount window and credit          
            availability.  33p.                                         
     9526   Adao, Bernardino & Temzelides, Theodosios.  Beliefs,        
            competition, and bank runs.  24p.                           
     9527   Temzelides, Theodosios.  Evolution, coordination, and       
            banking panics.  33p.                                       
     96-1   Berlin, Mitchell & John, Kose.  Bank equity stakes in       
            borrowing firms and financial distress.  46p.               
     96-2   Hughes, Joseph P. & Mester, Loretta J.  Bank capitalization 
            and cost: evidence of scale economies in risk management and
            signalling.  41p.                                           
     9529   Robertson, Douglas.  Are banks converging to one size?.     
            61p.                                                        
     9528   Sill, Keith.  Some monetary policy implications of          
            increasing consumption variety.  20p.                       
     9605   Morris, Stephen.  Speculative investor behavior and         
            learning.  25p.                                             
     96-4   Shaffer, Sherrill.  Capital requirements and rational       
            discount window borrowing.  29p.                            
     96-3   Stark, Tom & Croushore, Dean.  Evaluating McCallum's rule   
            when monetary policy matters.  45p.                         
     96-8   Chatterjee, Satyajit & Corbae, Dean.  Money and finance with
            costly commitment.  26p.                                    
     96-9   Hughes, Joseph P., et al.  Efficient banking under          
            interstate branching.  35p.                                 
     96-7   Kaminsky, Graciela L. & Lewis, Karen K.  Does foreign       
            exchange intervention signal future monetary policy?.  31p. 
     96-6   Lewis, Karen K.  Consumption, stock returns, and the gains  
            from international risk-sharing.  40p.                      
     9612   McAndrews, James J.  Retail pricing of ATM network services.
             27p.                                                       
     9611   Mester, Loretta J.  Measuring efficiency at U.S. banks:     
            accounting for heterogeneity is important.  23p.            
     9610   Ozlu, Elvan, Schlagenhauf, Don & Wrase, Jeffrey M.  Exchange
            rates and international relative prices and quantities in   
            equilibrium models with alternative preference s.  26p.     
     9613   Carlino, Gerald & Sill, Keith.  Common trends and common    
            cycles in regional per capita incomes.  44p.                



                                                           PAGE  43

     9614   Hughes, Joseph P., et al.  Safety in numbers?: geographic   
            diversification and bank insolvency risk.  32p.             
     9615   Voith, Richard.  The suburban housing market: effects of    
            city and suburban employment growth.  37p.                  
     9617   Berlin, Mitchell & Butler, Alexander W.  Public versus      
            private debt: confidentiality, control, and product markets.
             27p.                                                       
     9616   Crone, Theodore M. & Voith, Richard P.  Risk and return in  
            the single-family housing market.  22p.                     
     9618   Berlin, Mitchell & Mester, Loretta J.  Why is the banking   
            sector shrinking?.  38p.                                    
     9620   DeFina, Robert H. & Stark, Thomas C.  The effects of        
            permanent and transitory output shocks on poverty.  31p.    
     9621   Holliday, Andrew J. & Hopper, Gregory P.  Are there regimes 
            of antitrust enforcement?: an empirical analysis.  28p.     
     9619   McAndrews, James J.  Pricing in vertically integrated       
            network switches.  14p.                                     

     FEDERAL RESERVE BOARD.  Finance & Economics Discussion Series.     

     9550   Bhasin, Vijay.  On the credit risk of OTC derivative users. 
            49p.                                                        
     9548   Estevao, Marcello & Tevlin, Stacey.  The role of profits in 
            wage determination: evidence from U.S. manufacturing.  36p. 
     9547   Lach, Saul & Rob, Rafael.  R & D, investment and industry   
            dynamics.  45p.                                             
     9549   Owen, Ann L.  International trade and the accumulation of   
            human capital.  27p.                                        
     9552   Collins, Sean & Mack, Phillip.  Will bank proprietary mutual
            funds survive?: assessing their viability via scope and     
            scale estimates.  27p.                                      
     9551   Kupiec, Paul H. & O'Brien, James M.  Recent developments in 
            bank capital regulation of market risks.  28p.              
     9553   Neumark, David & Wascher, William.  Reconciling the evidence
            on employment effects of minimum wages: a review of our     
            research findings.  31p.                                    
     96-6   Cole, Rebel A. & Mehran, Hamid.  The effect of changes in   
            ownership structures on performance: evidence from the      
            thrift industry.  39p.                                      
     96-2   Estevao, Marcello.  Measurement error and time aggregation: 
            a closer look at estimates of output labor elasticities.    
            35p.                                                        
     96-9   Gilles, Christian & LeRoy, Stephen F.  Bubbles as payoffs at
            infinity.  29p.                                             
     96-1   Kennickell, Arthur B., Starr-McCluer, Martha & Sunden,      
            Annika E.  Saving and financial planning: some findings from
            a focus group.  18p.                                        
     96-8   Lamb, Russell L. & Diebold, Francis X.  Why are estimates of
            agricultural supply response so variable?.  26p.            
     96-7   Whitesell, William & Collins, Sean.  A minor redefinition of
            M2.  31p.                                                   
     96-5   Wieland, Volker.  Learning by doing and the value of optimal
            experimentation.  38p.                                      
     96-4   Zhou, Chunsheng.  Forecasting long and short-horizon stock  
            returns in a unified framework.  32p.                       



                                                           PAGE  44

     96-3   Zhou, Chunsheng.  Stock market fluctuations and the term    
            structure.  34p.                                            
     9610   Baily, Martin N., Bartelsman, Eric J. & Haltiwanger, John.  
            Labor productivity: structural change and cyclical dynamics.
             25p.                                                       
     9612   Calem, Paul S. & Rob, Rafael.  The impact of capital-based  
            regulation on bank risk-taking: a dynamic model.  44p.      
     9613   Judson, Ruth.  Do low human capital coefficients make       
            sense?: a puzzle and some answers.  56p.                    
     9611   Kupiec, Paul H. & White, A. Patricia.  Regulatory           
            competition and the efficiency of alternative derivative    
            product margining systems.  35p.                            
     9615   Eisenbeis, Robert A., Horvitz, Paul M. & Cole, Rebel A.     
            Commercial banks and real estate lending: the Texas         
            experience.  24p.                                           
     9616   English, William B.  Inflation and financial sector size.   
            49p.                                                        
     9614   Leusner, John, Akhavein, Jalal D. & Swamy, P.A.V.B.  Solving
            an empirical puzzle in the capital asset pricing model.     
            33p.                                                        
     9622   Bhasin, Vijay, Cole, Rebel A. & Kiely, Joseph K.  Changes in
            REIT liquidity 1990-94: evidence from intra-day             
            transactions.  31p.                                         
     9620   Duffee, Gregory R.  Treasury yields and corporate bond yield
            spreads: an empirical analysis.  34p.                       
     9617   Fisher, Mark & Gilles, Christian.  Around and around: the   
            expectations hypothesis.  23p.                              
     9619   Judson, Ruth & Orphanides, Athanasios.  Inflation,          
            volatility and growth.  28p.                                
     9618   Kennickell, Arthur B. & Starr-McCluer, Martha.  Household   
            saving and portfolio change: evidence from the 1983-89 SCF  
            panel.  40p.                                                
     9621   Orphanides, Athanasios.  Compensation incentives and risk   
            taking behavior: evidence from mutual funds.  26p.          
     9625   Carey, Mark, Post, Mitch & Sharpe, Steven A.  Does corporate
            lending by banks and finance companies differ?: evidence on 
            specialization in private debt contracti.  63p.             
     9624   Orphanides, Athanasios & Wilcox, David W.  The opportunistic
            approach to disinflation.  29p.                             
     9626   Antoniewicz, Rochelle L.  A comparison of the household     
            sector from the flow of funds accounts and the Survey of    
            Consumer Finances.  26p.                                    
     9629   Duffee, Gregory R.  Estimating the price of default risk.   
            42p.                                                        
     9627   Elmendorf, Douglas W.  The effect of interest rate changes  
            on household saving and consumption: a survey.  84p.        
     9628   Neumark, David & Wascher, William L.  Minimum wage effects  
            on employment and school enrollment: reply to Evans and     
            Turner.  19p.                                               
     9631   O'Malley, Michael P.  Tax exhaustion, firm investment, and  
            leasing: a test of the q model of investment.  30p.         
     9635   Aizcorbe, Ana & Starr-McCluer, Martha.  Vehicle ownership,  
            vehicle acquisitions and the growth of auto leasing:        
            evidence from consumer surveys.  16p.                       




                                                           PAGE  45

     9637   Berkowitz, Jeremy.  Generalized spectral estimation.  17p.  
     9630   Clerida, Sofronia, Lach, Saul & Tybout, James.  Is          
            "learning-by-exporting" important?: microdynamic evidence   
            from Columbia, Mexico and Morocco.  58p.                    
     9632   Elmendorf, Douglas W. & Kimball, Miles S.  Taxation of labor
            income and the demand for risky assets.  36p.               
     9636   Fenn, George W., Post, Mitch & Sharpe, Steven A.  Debt      
            maturity and the use of interest rate derivatives by        
            nonfinancial firms.  40p.                                   
     9634   Helwege, Jean & Liang, Nellie.  Initial public offerings in 
            hot and cold markets.  34p.                                 
     9623   Kiley, Michael T.  Endogenous price stickiness and business 
            cycle persistence.  38p.                                    
     9633   Kiley, Michael T.  The lead of output over inflation in     
            sticky price models.  20p.                                  
     9639   Berkowitz, Jeremy & Giorgianni, Lorenzo.  Long-horizon      
            exchange rate predictability?.  17p.                        
     9638   Duffee, Gregory R. & Prowse, Steven D.  What's good for GM?:
            Using auto industry stock returns to forecast business      
            cycles & test the q-theory of investmen.  31p.              
     9641   Bomfin, Antulio N.  "Forecasting the forecasts of others":  
            expectational heterogeneity and aggregate dynamics.  32p.   
     9642   Brayton, F. & Tinsley, P.  A guide to FRB/US: a             
            macroeconomic model of the United States.  45p.             
     9640   Greenspan, Alan & Cohen, Darrel.  Motor vehicle stocks,     
            scrappage, and sales.  34p.                                 

     FEDERAL RESERVE BOARD.  International Finance Papers.              

     532    Basu, Susanto & Fernald, John G.  Aggregate productivity and
            the productivity of aggregates.  50p.                       
     530    de Brouwer, Gordon & Ericsson, Neil R.  Modelling inflation 
            in Australia.  67p.                                         
     531    Marquez, Jaime.  A century of trade elasticities for Canada,
            Japan, and the United States.  32p.                         
     537    Brunner, Allan D.  Using measures of expectations to        
            identify the effects of a monetary policy shock.  34p.      
     533    Engel, Charles & Rogers, John H.  Regional patterns in the  
            law of one price: the roles of geography vs. currencies.    
            43p.                                                        
     534    Frankel, Jeffrey A. & Rose, Andrew K.  Currency crashes in  
            emerging markets: an empirical treatment.  26p.             
     536    Huh, Chan.  Regime switching in the dynamic relationship    
            between the federal funds and innovations in nonborrowed    
            reserves.  29p.                                             
     535    Truman, Edwin M.  The risks and implications of external    
            financial shocks: lessons from Mexico.  32p.                
     542    Bertaut, Carol C. & Haliassos, Michael.  Precautionary      
            portfolio behavior from a life-cycle perspective.  40p.     
     538    Gagnon, Joseph E.  Long memory in inflation expectations:   
            evidence from international financial markets.  23p.        
     540    Kamin, Steven B. & Rogers, John H.  Monetary policy in the  
            end-game to exchange rate based stabilizations: the case of 
            Mexico.  45p.                                               




                                                           PAGE  46

     543    Kaminsky, Graciela L. & Leiderman, Leonardo.  High real     
            interest rates in the aftermath of disinflation: is it a    
            lack of credibility?.  27p.                                 
     544    Kaminsky, Graciela L. & Reinhart, Carmen M.  The twin       
            crises: the causes of banking and balance of payments       
            problems.  26p.                                             
     541    Melick, William R. & Thomas, Charles P.  Using options      
            prices to infer PDF's for asset prices: an application to   
            oil prices during the Gulf Crisis.  39p.                    
     539    Uribe, Martin.  Comparing the welfare costs and the initial 
            dynamics of alternative temporary stabilization policies.   
            33p.                                                        
     546    Basu, Susanto & Fernald, John G.  Returns to scale in U.S.  
            production: estimates and implications.  48p.               
     545    Calvo, Guillermo A. & Mendoza, Enrique G.  Mexico's         
            balance-of-payments crisis: a chronicle of death foretold.  
            37p.                                                        
     547    Gagnon, Joseph E., Masson, Paul R. & McKibbin, Warwick J.   
            German unification: what have we learned from multi-country 
            models?.  47p.                                              
     549    Gibson, Michael S.  More evidence on the link between bank  
            health and investment in Japan.  22p.                       
     550    Iyigun, Murat F. & Owen, Ann L.  Alternatives in human      
            capital accumulation: implications for economic growth.     
            19p.                                                        
     548    Mendoza, Enrique G. & Uribe, Martin.  The syndrome of       
            exchange-rate based stabilizations and the uncertain        
            duration of currency pegs.  51p.                            
     553    Ammer, John.  Macroeconomic state variables as determinants 
            of asset price covariances.  31p.                           
     551    Iyigun, Murat F. & Owen, Ann L.  The accumulation of human  
            capital: alternative methods and why they matter.  26p.     
     554    Kamin, Steven B.  Real exchange rates and inflation in      
            exchange-rate based stabilizations: an empirical            
            examination.  55p.                                          
     555    Leahy, Michael P. & Thomas, Charles P.  The sovereignty     
            option: the Quebec referendum and market views on the       
            Canadian dollar.  32p.                                      
     552    Uribe, Martin.  The tequila effect: theory and evidence from
            Argentina.  35p.                                            
     556    Ammer, John & Gibson, Michael S.  Regulation and the cost of
            capital in Japan: a case study.  48p.                       
     558    Bertaut, Carol C.  Stockholding behavior of U.S. households:
            evidence from the 1983-89 Survey of Consumer Finances.  41p.
     557    Ghosal, Vivek & Loungani, Prakash.  Firm size and the impact
            of profit-margin uncertainty on investment: do financing    
            constraints play a role?.  31p.                             
     559    Ericcson, Neil R. & Sharma, Sunil.  Broad money demand and  
            financial liberalization in Greece.  49p.                   
     560    Frankel, Allen B. & Palmer, David E.  The management of     
            financial risks at German nonfinancial firms: the case of   
            Metallgesellschaft.  40p.                                   
     563    Frankel, Jeffrey A. & Schmukler, Sergio L.  Country fund    
            discounts and the Mexican crisis of December 1994: did local
            residents turn pessimistic before interna.  38p.            



                                                           PAGE  47

     564    Ghei, Nita & Kamin, Steven B.  The use of the parallel      
            market rate as a guide to setting the official exchange     
            rate.  46p.                                                 
     561    Haltmaier, Jane T.  Inflation-adjusted potential output.    
            48p.                                                        
     565    Huh, Chan.  Some evidence on the efficacy of the UK         
            inflation targeting regime: an out of sample forecast       
            approach.  30p.                                             
     562    Sheets, Nathan & Boata, Simona.  Eastern European export    
            performance during the transition.  38p.                    
     566    Ahmed, Shaghil & Rogers, John H.  Long term evidence on the 
            Tobin and Fisher effects: a new appproach.  43p.            
     567    Copelman, Martina.  Financial innovation and the speed of   
            adjustment of money demand: evidence from Bolivia, Israel   
            and Venezuela.  29p.                                        
     569    Copelman, Martina.  The role of credit in post-stabilization
            consumption booms.  32p.                                    
     568    Eika, Kari H., Ericsson, Neil R. & Nymoen, Ragnar.  Hazards 
            in implementing a monetary conditions index.  32p.          
     571    Bryson, Jay H., Chen, Chin-huan & VanHoose, David D.        
            Implications of economic interdependence and exchange rate  
            policy on endogenous wage indexation decisions.  30p.       
     570    Edison, Hali J.  The reaction of exchange rates and interest
            rates to new releases.  31p.                                

     FEDERAL TRADE COMMISSION.  Bureau of Economics.                    

     210    Coate, Malcolm B. & Kleit, Andrew N.  The political economy 
            of Federal Trade Commission administrative decision making  
            in merger enforcement.  28p.                                
     211    Hertzendorf, Mark N.  A game theory model of celebrity      
            endorsements.  53p.                                         
     212    Reitzes, James D. & Grawe, Oliver R.  Entry policy and entry
            subsidies.  29p.                                            
     200    Coate, Malcolm B., Kleit, Andrew N. & Bustamante, Rene.     
            Fight, fold or settle?: modeling the reaction to FTC merger 
            challenges.  31p.                                           
     205    Daniel, Timothy P. & Kleit, Andrew N.  Disentangling        
            regulatory policy: the effects of state regulations on      
            trucking rates.  65p.                                       

     HARVARD UNIVERSITY.  Institute of Economic Research.               

     1747   Glaeser, Edward L.  The social costs of rent control        
            revisited.  41p.                                            
     1746   Glaeser, Edward L. & Sacerdote, Bruce.  Why is there more   
            crime in cities?.  65p.                                     
     1742   Griliches, Zvi.  The discovery of the residual: a historical
            note.  13p.                                                 
     1745   Griliches, Zvi.  Education, human capital and growth: a     
            personal perspective.  25p.                                 
     1743   Hall, Brian J.  Risk-taking incentives and the cost of      
            insurance company failures.  41p.                           
     1744   Kornai, Janos.  The dilemmas of Hungarian economic policy.  
            25p.                                                        



                                                           PAGE  48

     1749   Adams, James & Griliches, Zvi.  Measuring science: an       
            exploration.  34p.                                          
     1751   Baliga, Sandeep & Sjostrom, Tomas.  Interactive             
            implementation.  31p.                                       
     1753   Banerjee, Abhijit V. & Maskin, Eric S.  A Walrasian theory  
            of money and barter.  66p.                                  
     1752   Davis, Donald R.  Does European unemployment prop up        
            American wages?.  32p.                                      
     1754   Kain, John F. & Singleton, Kraig.  Equality of educational  
            opportunity revisited.  52p.                                
     1748   Kornai, Janos.  Paying the bill for Goulash-communism:      
            Hungarian development and macro stabilization in a political
            economy perspec.  64p.                                      
     1750   Weinstein, David E.  Foreign direct investment and Keiretsu:
            rethinking U.S. and Japanese policy.  45p.                  
     1755   Weitzman, Martin L. & Lofgren, Karl-Gustaf.  On the welfare 
            significance of green accounting as taught by parable.  21p.
     1757   Baliga, Sandeep & Sjostrom, Tomas.  Decentralization and    
            collusion.  37p.                                            
     1758   Campbell, John Y. & Shiller, Robert J.  A scorecard for     
            indexed government debt.  63p.                              
     1756   Gaspar, Jess & Glaeser, Edward L.  Information technology   
            and the future of cities.  57p.                             
     1761   Mankiw, N. Gregory & Poterba, James.  Stock-market yields   
            and the pricing of municipal bonds.  20p.                   
     1759   Sachs, Jeffrey, Tornell, Aaron & Velasco, Andres.  Financial
            crises in emerging markets: the lessons from 1995.  76p.    
     1760   Sachs, Jeffrey, Tornell, Aaron & Velasco, Andres.  The      
            Mexican peso crisis: sudden death or death foretold?.  30p. 
     1765   Caballero, Ricardo J. & Leahy, John V.  Fixed costs: the    
            demise of marginal q.  18p.                                 
     1763   Campbell, John Y.  Consumption and the stock market:        
            interpreting international experience.  63p.                
     1767   Davis, Donald R.  Technology, unemployment, and relative    
            wages in a global economy.  27p.                            
     1764   Furman, Jason & Leahy, John V.  The international           
            transmission of monetary policy: evidence from the United   
            States and Canada.  29p.                                    
     1762   Kain, John F.  Cost-effective alternatives to Atlanta's     
            costly rail rapid transit system.  38p.                     
     1768   LaPorte, Rafael, et al.  Law and finance.  60p.             
     1766   Sen, Amartya.  Maximization and the act of choice.  56p.    
     1772   Chamberlain, Gary & Imbens, Guido W.  Nonparametric         
            applications of Bayesian inference.  22p.                   
     1769   Davis, Donald R.  Trade liberalization and income           
            distribution.  15p.                                         
     1773   Davis, Donald R. & Weinstein, David E.  Does economic       
            geography matter for international specialization?.  61p.   
     1774   Dekel, Eddie, Fudenberg, Drew & Levine, David K.  Payoff    
            information and self-confirming equilibrium.  32p.          
     1771   Gourinchas, Pierre-Olivier & Tornell, Aaron.  Exchange rate 
            dynamics and learning.  57p.                                
     1770   Hall, Brian J. & Weinstein, David E.  The myth of the       
            patient Japanese corporate myopia and financial distress in 
            Japan and the U.S.  33p.                                    



                                                           PAGE  49

     1772   Kremer, Michael & Maskin, Eric.  Wage inequality and        
            segregation by skill.  61p.                                 
     1775   Metrick, Andrew & Zeckhauser, Richard.  Price versus        
            quantity: market clearing mechanisms when sellers differ in 
            quality.  39p.                                              
     1776   Weitzman, Martin L.  On the welfare significance of national
            product under interest-rate uncertainty.  17p.              
     1781   Chamberlain, Gary & Imbens, Guido W.  Hierarchical Bayes    
            models with many instrumental variables.  26p.              
     1779   Garg, Ashish & Morduch, Jonathan.  Sibling rivalry, resource
            constraints, and the health of children.  35p.              
     1784   Grossman, Gene M. & Helpman, Elhanan.  Competing for        
            endorsements.  44p.                                         
     1782   Hall, Brian J.  Regulatory free cash flow and the high cost 
            of insurance company failures.  36p.                        
     1778   Hart, Oliver, Shleifer, Andrei & Vishny, Robert W.  The     
            proper scope of government: theory and an application to    
            prisons.  56p.                                              
     1780   Segal, Ilya R. & Whinston, Michael D.  Naked exclusion and  
            buyer coordination.  33p.                                   
     1783   Shleifer, Andrei.  Government in transition.  43p.          

     HEBREW UNIV. Center for Rationality & Interactive Decision Theory. 

     83     Feinberg, Yossi.  A converse to the agreement theorem.  20p.
     85     Feinberg, Yossi.  An incomplete cooperation structure for a 
            voting game can be stable.  8p.                             
     87     Milchtaich, Igal.  The value of nonatomic games arising from
            certain noncooperative congestion games.  12p.              
     89     Milchtaich, Igal.  Vector measure games based on measures   
            with values in an infinite dimensional vector space.  15p.  
     82     Neyman, Abraham & Sorin, Sylvain.  Equilibria in repeated   
            games of incomplete information: the deterministic symmetric
            case.  5p.                                                  
     86     Neyman, Abraham & Sorin, Sylvain.  Equilibria in repeated   
            games of incomplete information: the general symmetric case.
             9p.                                                        
     84     Sheshinski, Eytan.  Note on atmosphere externality and      
            corrective taxes.  13p.                                     
     90     Amital, Mor.  Cheap-talk with incomplete information on both
            sides.  30p.                                                
     91     Amital, Mor.  Cheap-talk with random stopping.  10p.        
     94     Aumann, Robert J., Hart, Sergiu & Perry, Motty.  The        
            absent-minded driver.  16p.                                 
     96     Bornstein, Gary, Budescu, David & Zamir, Shmuel.            
            Cooperation in intergroup, n-person and two-person games of 
            chicken.  28p.                                              
     95     Bornstein, Gary, Winter, Eyal & Goren, Harel.  Experimental 
            study of repeated team games.  22p.                         
     93     Driessen, Theo S.H.  An alternative game theoretic analysis 
            of a bankruptcy problem from the Talmud: the case of the    
            greedy bankruptcy g.  20p.                                  
     92     Driessen, Theo S.H.  Tree enterprises and bankruptcy        
            ventures: a game theoretic similarity due to a graph        
            theoretic proof.  12p.                                      



                                                           PAGE  50

     88     Neyman, Abraham.  Cooperation, repetition, and automata.    
            28p.                                                        
     98     Felsenthal, Dan S & Machover, Moshe.  Ternary voting games. 
            24p.                                                        
     99     Haimovich, Mordecai.  The simplex algorithm is very good!:  
            on the expected # of pivot steps & related properties of    
            random linear program.  48p.                                
     97     Milchtaich, Igal.  Generic uniqueness of equilibria in      
            nonatomic congestion games.  17p.                           
     100    El-Yaniv, Ran & Karp, Richard M.  Nearly optimal competitive
            online replacement policies.  31p.                          
     101    Hart, Sergiu & Weiss, Benjamin.  Significance levels for    
            multiple tests.  11p.                                       
     102    Aumann, Robert J.  The case of the three widows (in Hebrew).
             14p.                                                       
     108    Aumann, Robert.  On the state of the art in game theory.    
            39p.                                                        
     103    El-Yaniv, Ran.  There are infinitely many                   
            competitive-optimal online list accessing algorithms.  17p. 
     104    Neyman, Abraham & Okada, Daijiro.  Strategic entropy and    
            complexity in repeated games.  26p.                         
     105    Amitai, Mor.  Repeated games with incomplete information on 
            both sides.  27p.                                           
     106    Herrero, Carmen, Maschler, Michael & Villar, Antonio.       
            Individual rights and collective responsibility: the        
            rights-egalitarian solution.  19p.                          
     107    Milchtaich, Igal.  On backward induction paths and pure     
            strategy Mash equilibria of congestion games.  10p.         
     111    El-Yaniv, Ran.  Competitive solutions for online financial  
            problems: a survey.  49p.                                   
     110    Wolinsky, Asher.  A theory of the firm with non-binding     
            employment contracts.  52p.                                 
     113    El-Yaniv, Ran.  Is it rational to be competitive?: on the   
            decision-theoretical foundations of the competitive ratio.  
            34p.                                                        
     112    Israeli, Eitan.  Sowing doubt optimally in two-person       
            repeated games.  16p.                                       
     109    Aumann, Robert J.  A note on the centipede game.  6p.       
     115    Foster, Dean P. & Young, H. Peyton.  Learning with hazy     
            beliefs.  29p.                                              
     116    Gossner, Olivier.  Comparison of information structures.    
            22p.                                                        
     114    Neyman, Abraham & Okada, Daijiro.  Repeated games with      
            bounded entropy.  13p.                                      
     119    Keaser, Tamar, Motro, Uzi & Shmida, Avi.  Exploration effort
            in foraging bees is enhanced by clustering of food          
            resources.  14p.                                            
     118    Keaser, Tamar, Motro, Uzi & Shmida, Avi.  Foraging as an    
            exploratory activity in bees: the effects of patch          
            variability.  28p.                                          
     120    Keaser, Tamar, Motro, Uzi & Shmida, Avi.  Inate movement    
            rules in foraging bees: flight distances are affected by    
            recent rewards and are correlated with choi.  22p.          
     122    Keaser, Tamar, et al.  Overnight memory retention of        
            foraging skills by bumblebees is imperfect.  18p.           



                                                           PAGE  51

     121    Keaser, Tamar, et al.  When color vision is not useful: the 
            floral choices of foraging bumblebees on color polymorphic  
            artificial flowers.  21p.                                   
     117    Landsberger, Michael, et al.  First-price auctions when the 
            ranking of valuations is common knowledge.  17p.            

     HEBREW UNIVERSITY.  Department of Economics.                       

     314    Bar-Nathan, Moshe, Beenstock, Michael & Haitovsky, Yoel.  An
            econometric model of the Israeli housing market.  45p.      
     309    Barkai, Haim.  A Middle East development bank.  13p.        
     310    Beenstock, Michael.  Training and the time to find a job.   
            29p.                                                        
     312    Beenstock, Michael, Goldin, Ephraim & Haitovsky, Yoel.  The 
            treatment of response bias in a conjoint analysis of power  
            outages.  39p.                                              
     316    Ber, Hedva.  Causes and macroeconomic consequences of       
            disintermediation.  44p.                                    
     311    Galor, Oded.  Convergence?: inferences from theoretical     
            models.  20p.                                               
     315    Galor, Oded & Tsiddon, Daniel.  Technological progress,     
            mobility, and economic growth.  37p.                        
     317    Halelvi, Nadav & Kleiman, Ephraim.  Regional versus         
            non-regional integration: the case of the Middle East.  36p.
     313    Kleiman, Ephraim.  Ancient and medieval Rabbinic economic   
            thought: definitions, methodology and illustrations.  27p.  
     308    Yafeh, Yishay & Yosha, Oved.  The strategic use of          
            relationship banking.  24p.                                 

     HITOTSUBASHI UNIVERSITY.  Institute for Economic Research.         

     320    Fukuda, Shin-ichi.  Money and economic growth with          
            increasing returns-to-scale.  20p.                          
     318    Stein, Howard & Lewis, Peter.  Shifting fortunes: the       
            political economy of financial liberalization in Nigeria.   
            47p.                                                        
     314    Suzumura, Kotaro.  Industrial policy in a developing market 
            economy.  45p.                                              
     315    Suzumura, Kotaro.  Japanese industrial policy for           
            telecommunications: anatomy of the 1985 institutional reform
            and its aftermath.  42p.                                    
     319    Suzumura, Kotaro.  Maximality, optimality and duality.  5p. 
     323    Stein, Howard.  Adjustment and development in Africa: toward
            an assessment.  23p.                                        

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

     9521   Chen, Songian.  Semiparametric estimation of the type 3     
            Tobit model.  41p.                                          
     9520   Lin, Chu-chia Steve & Png, I.P.L.  Kinship, control, and    
            incentives.  21p.                                           
     9525   Lin, Justin Yifu & Yang, Dennis T.  Food availability,      
            entitlements and the Chinese famine of 1959-1961.  27p.     
     9524   Wang, Susheng.  The choice of fiscal policies.  22p.        




                                                           PAGE  52

     9519   Dasgupta, Sudipto & Tao, Zhigang.  Interfirm partial        
            ownership under contractual incompleteness.  32p.           
     9527   Hong, Chew Soo & Wakker, Peter.  The comonotonic sure-thing 
            principle.  29p.                                            
     9523   Kwan, Yum-keung.  Bayesian analysis with an unknown         
            likelihood function: a limited information approach.  26p.  
     9526   Kwan, Yum-keung & Chow, Gregory C.  Estimating economic     
            effects of the Great Leap Forward and the Cultural          
            Revolution in China.  16p.                                  
     9522   Qiu, Larry D. & Tao, Zhigang.  Policy towards international 
            R & D cooperation.  30p.                                    

     HOOVER INSTITUTION.  Domestic Studies Program.                     

     95-6   Cutler, David M. & Glaeser, Edward I.  Are ghettos good or  
            bad?.  67p.                                                 
     95-4   Glaeser, Edward I., Scheinkman, Jose A. & Shleifer, Andrei. 
            Economic growth in a cross-section of cities.  39p.         
     95-5   Kremen, Alan F.  Capitalism and the ethic of care: new      
            directions for policy, philosophy, and leadership.  32p.    
     95-9   Kremer, Michael.  Assortative marriage and the dynamics of  
            inequality.  57p.                                           
     95-8   Kremer, Michael.  Integrating behavioral choice into        
            epidemiological models of AIDS.  54p.                       
     95-7   Kremer, Michael & Maskin, Eric.  Segregation by skill and   
            the rise of inequality.  51p.                               

     UNIVERSITY OF ICELAND.  Faculty of Economics & Business Admin.     

     36     Herbertsson, Tryggvi T. & Magnusson, Gudmundur.  Accounting 
            for growth in the five Nordic countries, 1971-1992.  25p.   
     33     Baldursson, Fridrik M. & Karatzas, Ioannis.  Irreversible   
            investment and industry equilibrium.  23p.                  
     34     Petursson, Thorarinn G.  Backward and forward looking error 
            correction models of inflation in Iceland.  35p.            
     35     Schuler, Kurt.  The case against central banking in         
            developing countries, with a postscript on Iceland.  52p.   
     38     Matthiasson, Thorolfur.  Why fishing fleets tend to be "too 
            big".  11p.                                                 
     37     Petursson, Thorarinn G.  Are prices forward looking?:       
            evidence from Iceland.  16p.                                
     39     Runolfsson, Birgir & Arnason, Ragnar.  Iceland's individual 
            transferable quota system: evolution and performance.  38p. 
     9604   Baldursson, Friorik Mar & Magnusson, Guomundur.  Portfolio  
            fishing.  16p.                                              
     9605   Danielsson, Jon & de Vries, Casper G.  Tail index and       
            quantile estimation with very high frequency data.  22p.    
     9603   Hebertsson, Tryggvi Thor & Benedikts-dottir, Sigridur.      
            Growth and environmental policies in Iceland: a descriptive 
            account.  31p.                                              

     INSTITUT NATIONAL DE LA STATISTIQUE ET DES ETUDES ECONOMIQUES.     

     9543   Abowd, J.M. & Kramarz, F.  The costs of hiring and          
            separations.  28p.                                          



                                                           PAGE  53

     9547   Baccar, S.  Reliability of the translog cost function: some 
            theory and an application to the demand of energy in French 
            manufac.  41p.                                              
     9544   Blundell, R. & Robin, J.M.  Latent separability: grouping   
            goods without weak separability.  34p.                      
     9549   Crepon, B. & Duguet, E.  Estimating the innovation function 
            from patent numbers: GMM on count panel data.  24p.         
     9546   Gourieroux, C., Monfort, A. & Tenreiro, C.  Kernel          
            m-estimators and functional residuals plots.  48p.          
     9548   Guerre, E.  The general asymptotic behavior of estimators of
            the Box-Cox model for integrated time series.  36p.         
     9545   Monfort, A.  A reappraisal of misspecified econometric      
            models.  32p.                                               
     9552   Florens, J.P., Renault, E. & Touzi, N.  Testing for         
            embeddability by stationary reversible continuous time      
            Markov processes.  26p.                                     
     9550   Gourieroux, C., Laurent, J.P. & Pham, H.  Quadratic hedging 
            and numeraire.  23p.                                        
     9553   Jouini, E., Koehl, P.F. & Touzi, N.  Incomplete markets,    
            transaction costs and liquidity effects.  26p.              
     9551   Touzi, N.  American options exercise boundary when the      
            bolatility changes randomly.  17p.                          
     9558   Carassus, L. & Jouini, E.  Investment opportunities, short  
            sales constraints and arbitrage opportunity.  18p.          
     9559   Comte, F. & Lieberman, O.  On variance noncausality and     
            cointegration.  20p.                                        
     9605   Dhaene, G., Gourieroux, C. & Scaillet, O.  Non-nested       
            hypotheses and instrumental models.  50p.                   
     9603   Fermanian, J.D.  Multivariate hazard rates under random     
            censorship.  50p.                                           
     9562   Franq, C. & Zakoian, J.M.  Estimating linear representations
            of nonlinear processes.  25p.                               
     9560   Gollier, C., Koehl, P.F. & Rochet, J.C.  Risk-taking        
            behavior with limited liability and risk aversion.  21p.    
     9554   Gourieroux, C., Renault, E. & Touzi, N.  Calibration by     
            simulation for small sample bias correction.  27p.          
     9602   Koehl, P.F.  A dynamic model of the liquidity premium.  18p.
     9561   Magnac, T. & Postel-Vinay, G.  Wage competition between     
            agriculture and industry in mid-nineteenth century France.  
            35p.                                                        
     9601   Rousseau, J.  Expansions of penalized likelihood ratio      
            statistics and consequences on matching priors for HDP      
            regions.  23p.                                              
     9604   van Ypersele, T. & Wunsch, P.  Comparative advantage,       
            redistribution and the political process: a perspective on  
            social dumping.  22p.                                       
     9607   Comte, F. & Renault, E.  Long memory in continuous time     
            stochastic volatility models.  47p.                         
     9606   Villeneuve, B.  Mandatory insurance and intensity of adverse
            selection.  30p.                                            
     9608   Alziary, B., Decamps, J.P. & Koehl, P.F.  A partial         
            differential equation approach to Asian options: analytical 
            and numerical evidence.  40p.                               
     9617   Berger, J.O., Philippe, A. & Robert, C.P.  Estimation of    
            quadratic functions: noninformative priors for              
            non-centrality parameters.  17p.                            


                                                           PAGE  54

     9618   Berred, A.M.  Estimation of record values.  12p.            
     9622   Blundell, R., Magnac, T. & Meghir, C.  Savings and labour   
            market transitions.  33p.                                   
     9625   Casella, G. & Robert, C.P.  Post-processing accept-reject   
            samples: recycling and rescaling.  19p.                     
     9623   Chiappori, P.A., Salanie, B. & Valentin, J.  Early starters 
            versus late beginners.  34p.                                
     9611   El Karoui, N., Frachot, A. & Geman, H.  A note on the       
            behavior of long zero coupon rates in a no arbitrage        
            framework.  16p.                                            
     9612   Gayraud, G.  Minimax hypothesis testing.  22p.              
     9620   Guegan, D.  A nonparametric point of view: stochastic versus
            deterministic approach.  18p.                               
     9616   Guegan, D. & Mercier, L.  Predation in chaotic time series: 
            methods and comparisons using simulations.  15p.            
     9619   Guegan, D. & Leorat, G.  What is the good way to identify   
            noisy chaos?: an empirical approach.  18p.                  
     9609   Jullien, B.  Participation constraints in adverse selection 
            models.  36p.                                               
     9610   Linnemer, L. & Perrot, A.  Certification by a monopolist.   
            24p.                                                        
     9624   Robert, C.P. & Titterington, D.M.  Reparameterisation       
            strategies for hidden Markov models and Bayesian approaches 
            to maximum likelihood estimation.  24p.                     
     9557   Billio, M. & Monfort, A.  Switching state space models:     
            liklihood function, filtering and smoothing.  58p.          
     9627   Delecroix, M., Guegan, D. & Leorat, G.  Determining Lyapunov
            exponents in deterministic dynamical systems.  15p.         
     9556   Guerre, E. & Jouneau, F.  Geometric versus arithmetic random
            walk: the case of trended variables.  19p.                  
     9630   Guihenneuc-Jouhaux, C. & Robert, C.P.  Discretizations of   
            continuous state space Markov chains for MCMC convergence   
            assessment.  22p.                                           
     9629   Ledyard, J.O. & Palfrey, T.R.  Interim efficiency in a      
            public goods problem.  20p.                                 
     9628   Linnemar, L.  Entry deterrence, product quality: price and  
            advertising as signals.  25p.                               
     9555   Robert, C.  A pathological MCMC algorithm and its use as a  
            benchmark for convergence assessment techniques.  10p.      
     9632   Calinski, T. & LeJeune, M.  A fresh look at testing         
            hypotheses on dimensionality in the MANOVA model.  16p.     
     9631   Combes, P.P., Caillaud, B. & Jullien, B.  Common market with
            regulated firms.  37p.                                      
     9633   Gourieroux, C., Jasiak, J. & Le Fol, G.  Intra-day market   
            activity.  47p.                                             

     INSTITUTO DE MATEMATICA PURA E APLICADA (BRAZIL).                  

     92     Araujo, Aloisio, Monteiro, Paulo K. & Pascoa, Mario.        
            Infinite horizon incomplete markets with a continuum of     
            states.  20p.                                               
     95     de Souza, Aparecido J. & Marchesin, Dan.  Bifurcations in   
            nonlinear resources for systems of conservation laws.  20p. 
     93     Landim, C., Sethuraman, S. & Varadhan, S.  Spectral gap for 
            zero-range dynamics.  32p.                                  



                                                           PAGE  55

     96     Solodov, M.V.  Incremental gradient algorithms with         
            stepsizes bounded away from zero.  14p.                     
     94     Solodov, M.V.  On the convergence of constrained parallel   
            variable distribution algorithms.  13p.                     

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

     9604   Antinolfi, Gaetano & Huybens, Elisabeth.  Capital           
            accumulation and real exchange rate behavior in small open  
            economy with credit market frictions.  50p.                 
     9507   Guerrero, Victor M. & Pena, Daniel.  Linear combination of  
            information in time series analysis.  22p.                  
     9605   Hernandez D., Alejandro & Zapatero, Fernando.  Exchange rate
            determination and the collapse of a target zone with        
            stochastic capital flows.  34p.                             
     9601   Mena, Hugo.  International trade in middle products and the 
            transfer problem.  47p.                                     
     9603   Renero, Juan M.  Unstable and stable steady states in the   
            Kiyotaki-Wright model.  22p.                                
     9602   Santos, Manuel S. & Vigo, Jesus.  Accuracy estimates for a  
            numerical approach to stochastic growth models.  45p.       
     9606   Azariadis, Costas.  The economics of poverty traps, part    
            one: complete markets.  60p.                                
     9610   Cuoco, Domenico & Zapatero, Fernando.  On the recoverability
            of preferences and beliefs in financial models.  16p.       
     9608   Huybens, Elisabeth & Smith, Bruce D.  Financial market      
            frictions, monetary policy and capital accumulation in a    
            small open economy.  45p.                                   
     9607   Lopez A., Gladys.  Equilibrium behavior in an all-pay       
            auction with complete information.  40p.                    
     9609   Ortigueira, Salvador.  Fiscal policy in an endogenous growth
            model with human capital accumulation.  34p.                

     UNIVERSITY OF IOWA.  Department of Economics.                      

     9517   Bowlus, Audra J., Kiefer, Nicholas M. & Neumann, George R.  
            Fitting equilibrium search models to labor market data.     
            27p.                                                        
     9515   Gorgens, Tue & Horowitz, Joel.  Semiparametric estimation of
            a censored regression model with an unknown transformation  
            of the dependent variable.  41p.                            
     9518   Horowitz, Joel L. & Manski, Charles F.  What can be learned 
            about population parameters when the data are contaminated?.
             44p.                                                       
     9516   Riezman, Raymond, Whiteman, Charles & Summers, Peter M.  The
            engine of growth or its handmaiden?: a time-series          
            assessment of export-led growth.  41p.                      
     9601   Wu, S.Y. & Qin, C.Z.  Pricing derived securities under an   
            Edgeworthian process.  40p.                                 
     9603   Blume, Andreas.  Communication, risk and efficiency in      
            games.  30p.                                                
     9602   Horowitz, Joel L.  Bootstrap critical values for tests based
            on the smoothed maximum score estimator.  48p.              
     9604   Blume, Andreas.  Information transmission and preference    
            similarity.  27p.                                           



                                                           PAGE  56

     9608   Lanot, Gathier & Neumann, George R.  Measuring productivity 
            differences in equilibrium search models.  30p.             
     9607   Lobato, I.N. & Savin, N.E.  Real and spurious long memory   
            properties of stock market data.  32p.                      
     9605   Savin, N.E. & Wurtz, Allan.  The effect of nuisance         
            parameters on the power of LM tests in logit and probit     
            models.  28p.                                               
     9606   Savin, N.E. & Wurtz, Allan.  Power of tests in binary       
            response models.  14p.                                      
     9609   Savin, N.E., Loughran, Tim & Horowitz, Joel L.  A spline    
            analysis of the small firm effect: does size really matter?.
             35p.                                                       
     9610   Wu, S.Y.  A discourse on a model of the                     
            entrepreneur-centered economy.  28p.                        
     9612   De Jong, David N., Ingram, Beth N. & Whiteman, Charles.     
            Cyclical implications of the variable utilization of        
            physical and human capital.  26p.                           
     9611   Horowitz, Joel.  Bootstrap methods for median regression    
            models.  51p.                                               
     9613   Horowitz, Joel L.  Bootstrap methods for covariance         
            structures.  30p.                                           
     9614   Otrok, Christopher & Whiteman, Charles H.  Bayesian leading 
            indicators: measuring and predicting economic conditions in 
            Iowa.  26p.                                                 

     IOWA STATE UNIVERSITY.  Department of Economics.                   

     38     Tesfatsion, Leigh.  An evolutionary trade network game with 
            preferential partner selection.  10p.                       

     BANCA DE ITALIA.  Research Department.                             

     256    Angeloni, I., et al.  The credit channel of monetary policy 
            across heterogeneous banks: the case of Italy.  54p.        
     257    Giannini, Curzio & Monticelli, Carlo.  Which target for     
            monetary policy is stage three?: issues in shaping of the   
            European payment system.  42p.                              
     261    Detragiache, Enrica & Garella, Paolo G.  Debt restructuring 
            with multiple creditors and the role of exchange offers.    
            45p.                                                        
     263    Majnoni, Giovanni & Massa, Massimo.  Share prices and       
            trading volume: indications of stock exchange efficiency.   
            63p.                                                        
     262    Rossi, Nicola & Visco, Ignazio.  National saving and social 
            security in Italy (1954-1993).  59p.                        
     266    Angelini, Paolo.  Are banks risk-averse?: a note on the     
            timing of operations in the interbank market.  33p.         
     264    Caruso, Massimo.  Stock prices and money velocity: a        
            multi-country analysis.  63p.                               
     268    Boldrin, M., Christiano, L.J. & Fisher, J.D.M.  Asset       
            pricing lessons for modelling business cycles.  57p.        
     267    Rinaldi, Roberto & Tedeschi, Roberto.  Money demand in      
            Italy: a system approach.  59p.                             
     269    Rudebusch, Glenn D.  Do measures of monetary policy in a VAR
            make sense?.  34p.                                          



                                                           PAGE  57

     270    Sen, Amartya.  Maximization and the act of choice.  62p.    
     272    Bertola, Guiseppe & Rogerson, Richard.  Institutions and    
            labor reallocation.  30p.                                   
     278    Drudi, Francesco & Giordano, Raffaella.  Real interet rates,
            soverieign risk and optimal debt management.  47p.          
     276    Gaiotti, Eugenio & Nicoletti-Altimari, Sergio.  Monetary    
            policy transmission, the exchange rate and long-term yields 
            under different hypotheses on expectations.  55p.           
     275    Guiso, Luigi & Jappelli, Tullio.  Intergenerational         
            transfers, borrowing constraints and the timing of home     
            ownership.  74p.                                            
     273    Repullo, Rafael & Suarez, Javier.  Monitoring, liquidation, 
            and security design.  44p.                                  

     JOHNS HOPKINS UNIVERSITY.  Department of Political Economy.        

     349    Carrington, William J. & Troske, Kenneth R.  Interfirm      
            segregation and the black/white wage gap.  52p.             
     343    Carrington, William J. & Troske, Kenneth R.  On measuring   
            segregation in samples with small units.  24p.              
     350    Carroll, Christopher D. & Samwick, Andrew A.  How important 
            is precautionary saving?.  55p.                             
     351    Carroll, Christpher D. & Samwick, Andrew A.  The nature of  
            precautionary wealth.  57p.                                 
     353    Ball, Laurence & Croushore, Dean.  Expectations and the     
            effects of monetary policy.  32p.                           
     345    Carroll, Christopher D. & Kimball, Miles S.  On the         
            concavity of the consumption function.  13p.                
     342    Harrington, Joseph E.  Durable goods monopoly with          
            uninformed consumers.  34p.                                 
     344    Harrington, Joseph E. & Hess, Gregory D.  A spatial theory  
            of positive and negative campaigning.  27p.                 
     352    Khan, M. Ali, Rath, Kali P. & Sun, Yeneng.  On private      
            information games without pure strategy equilibria.  26p.   
     354    Karni, Edi & Safra, Zvi.  Individual sense of justice and   
            social welfare functions.  31p.                             
     356    Keane, Michael & Moffitt, Robert A.  A structural model of  
            multiple welfare program participation and labor supply.    
            50p.                                                        
     355    Moffitt, Robert A. & Gottschalk, Peter.  Trends in the      
            autocovariance structure of earnings in the U.S.: 1969-1987.
             47p.                                                       
     357    Carroll, Christopher D., Overland, Jody & Weil, David N.    
            Saving and growth with habit formation.  34p.               
     360    de Lima, Pedro J.F.  Nonlinearities and nonstationarities in
            stock returns.  25p.                                        
     358    Harrington, Joseph E.  An exploration into the social       
            evolution of adaptive and rigid behavior.  44p.             
     359    Khan, M. Ali & Sun, Yeneng.  Non-cooperative games on       
            hyperfinite Loeb spaces.  38p.                              
     362    Hamilton, Bruce W. & Burke, Mary.  The Coase conjecture in  
            continuous time: imperfect durability, endogenous           
            durability, and aftermarkets.  38p.                         
     361    Hamilton, Bruce W. & Macauley, Molly.  Competition and car  
            longevity.  43p.                                            



                                                           PAGE  58

     363    Rajan, Ashvin V.  Generic properties of the core and        
            equilibria of pure exchange economies.  17p.                
     364    Carrington, William J. & Troske, Kenneth R.  Sex segregation
            in U.S. manufacturing.  37p.                                
     365    Zilcha, Itzhak.  Altruism, economic growth and income       
            distribution.  20p.                                         
     368    Chiu, W. Henry & Karni, Edi.  Endogenous adverse selection  
            and unemployment insurance.  23p.                           
     366    Karni, Edi & Weymark, John A.  An informationally           
            parsimonious impartial observer theorem.  11p.              
     367    Rajan, Ashvin V.  A remark on the equilibrium set of pure   
            exchange economies.  8p.                                    
     371    Carroll, Christopher D.  Buffer-stock saving and the life   
            cycle/permanent income hypothesis.  63p.                    
     370    Foster, Dean & Young, Peyton.  Learning with hazy beliefs.  
            29p.                                                        
     369    Young, H. Peyton.  Social coordination and social change.   
            29p.                                                        
     372    Karni, Edi & Safra, Zvi.  Social welfare functions with     
            nonlinear individual preferences.  12p.                     
     374    Khan, M. Ali & Sun, Yeneng.  Non-atomic games on Loeb       
            spaces.  10p.                                               
     373    Moffitt, Robert, Ribar, David & Wilhelm, Mark.  The decline 
            of welfare benefits in the U.S.: the role of wage           
            inequality.  46p.                                           

     UNIVERSITY OF KANSAS.  Department of Economics.                    

     96-1   Lien, Da-Hsiang Donald.  Utility regulation and futures     
            trading.  22p.                                              
     96-3   Gangadharan, Jaisri & Rosenbloom, Joshua L.  The effects of 
            childbearing on married women's labor supply and earnings:  
            using twin births as a natural experiment.  22p.            
     96-2   Lien, Donald & Wilson, Bradley K.  Multiperiod hedging in   
            the presence of stochastic volatility.  18p.                
     96-5   Rosenbloom, Joshua L.  The extent of the labor market in the
            United States, 1850-1914.  29p.                             
     96-4   Rosenbloom, Joshua L.  Strikebreaking and the labor market  
            in the United States, 1881-1894.  31p.                      

     LA TROBE UNIVERSITY.  Department of Economics.                     

     9526   Bardsley, Peter.  Simplifying the tax law: some implications
            for small business.  19p.                                   
     9527   Bardsley, Peter & Olekalns, Nilss.  Wool price variability  
            in the long run.  11p.                                      
     9518   Choe, Chongwoo.  Contract design and costly verification    
            games.  19p.                                                
     9522   Clarke, Harry.  Optimal depletion when development makes an 
            unused resource stock more valuable.  24p.                  
     9525   Herath, Gamini.  Ecotourism development in Australia: some  
            relevant issues.  21p.                                      
     9524   Konya, Laszlo.  Output and employment in Australia:         
            1959-1992: a clay-clay approach.  30p.                      




                                                           PAGE  59

     9523   Yin, Xiangkang & Ng, Yew-Kwang.  Quantity precommitment and 
            Bertrand competition yield Cournot outcomes: a case with    
            product differentiation.  12p.                              
     9528   Aiken, M. & McCrae, M.  A financial accountability spectrum:
            theoretical justification of constitutional compliance      
            through inductive discl.  38p.                              
     9531   Choe, Chongwoo.  Auditor's legal liability and optimal audit
            arrangement: a critical review and an expository theory.    
            33p.                                                        
     9529   Edirisuriya, P.  Telecommunications and economic growth:    
            empirical evidence from ASEAN countries.  28p.              
     9533   Silvapulle, Param.  A Lagrange multiplier test for seasonal 
            fractional integration.  13p.                               
     9532   Silvapulle, Param.  Testing stationary nonnested short      
            memory against long memory processes.  15p.                 
     9534   Silvapulle, Param.  Unit root tests and structural breaks.  
            16p.                                                        
     9530   Silvapulle, Param & Podivinsky, Jan M.  The effect of       
            non-normal disturbances and conditional heteroskedasticity  
            on multiple cointegration tests.  18p.                      
     9602   Bardsley, Peter & Olekalns, Nilss.  Wool price variability  
            in the long run.  11p.                                      
     9605   Beg, Rabiul Alam & Silvapulle, Param.  Testing for          
            nonlinearity in time series models.  14p.                   
     9607   Choi, Jong-Seo & Choe, Chongwoo.  Explanatory factors for   
            trading volume responses to annual earnings announcements:  
            evidence from the Korean stock m.  43p.                     
     9603   Herath, Gamini & Jayasuriya, Sisira.  Risk aversion,        
            information and adoption of HYV technology in Asian         
            countries: the role of concessionary credit revi.  24p.     
     9604   Hewarathna, Ramya & Silvapulle, Param.  An empirical        
            investigation on the relationships among real, monetary, and
            financial variables: Australian evidence.  24p.             
     9606   King, Stephen P. & Maddock, Rodney.  Competititon and almost
            essential facilities: making the right policy choices.  14p.
     9601   Silvapulle, Param.  A score test for seasonal fractional    
            integration and cointegration.  22p.                        

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

     9511   von Ungern-Sternberg, Thomas.  The limits of competition:   
            housing insurance in Switzerland.  9p.                      
     9510   von Ungern-Sternberg, Thomas.  Running down non-profit      
            organisations: the case of the Journal of Industrial        
            Economics.  8p.                                             
     9601   von Ungern-Sternberg, Thomas.  The Swiss national bank and  
            seignorage.  22p.                                           
     9602   Degryse, Hans.  The total cost of trading Belgian shares:   
            Brussels vs. London.  31p.                                  
     9607   Lambelet, Jean-Christian.  Currency fluctuations vs.        
            interest and inflation differentials: does the double       
            equality hold?.  39p.                                       
     9604   von Thadden, Ernst-Ludwig.  Optimal liquidity provision and 
            dynamic incentive compatibility.  32p.                      




                                                           PAGE  60

     9606   von Thadden, Ernst-Ludwig.  The term structure of investment
            and the banks' insurance function.  25p.                    
     9605   von Ungern-Sternberg, Thomas.  Managerial compensation      
            schemes with informed principals.  16p.                     
     9603   Hechler, Nannette.  Environmental quality and economic      
            development.  38p.                                          
     9612   Bacchetta, Philippe & Caminal, Ramon.  Do capital market    
            imperfections exacerbate output fluctuations?.  31p.        
     9613   Irmen, Andreas & Thisse, Jacques F.  Competition in         
            multi-characteristics spaces: Hotelling was almost right.   
            36p.                                                        
     9609   Neven, Damien & von Ungern-Sternberg, Thomas.  Competition  
            policy in Switzerland.  49p.                                
     9611   Neven, Damien & von Ungern-Sternberg, Thomas.  Swiss        
            competition policy in the last decade.  29p.                
     9616   Abul Naga, Ramses H.  Prediction and sufficiency in the     
            model of factor analysis.  28p.                             
     9614   Degryse, Hans & Irmen, Andreas.  R & D decisions when       
            quality and variety interact.  29p.                         
     9617   Irmen, Andreas.  Precommitment in competing vertical chains.
             44p.                                                       
     9615   Neven, Damien & Wyplosz, Charles.  Relative prices, trade   
            and restructuring in European industry.  30p.               

     LONDON SCHOOL OF ECONOMICS.  Financial Markets Group.              

     224    Bhattacharya, Sudipto & Padilla, A. Jorge.  Dynamic banking:
            a reconsideration.  52p.                                    
     220    Burkhart, Mike, Gromb, Denis & Panunzi, Fausto.  Large      
            shareholders, monitoring and the value of the firm.  35p.   
     221    Burkhart, Mike, Gromb, Denis & Panunzi, Fausto.  Why higher 
            takeover premia protect minority shareholders: tender offers
            when dilution is endogenous.  49p.                          
     222    Goodhart, Charles A.E. & Huang, Haizhou.  What is the       
            central bank's game?.  45p.                                 
     223    Huang, Haizhou & Padilla, A. Jorge.  Fiscal policy and the  
            sub-optimality of the Walsh contract for central bankers.   
            26p.                                                        
     226    Rady, Sven.  Option pricing with a quadratic diffusion term.
             20p.                                                       
     225    Roell, Ailsa.  The decision to go public: an overview.  14p.
     227    Chen, Zhaohui & Huang, Haizhou.  Investment trap.  27p.     
     228    de Meza, David & Webb, David.  Entrepreneurial wealth, the  
            level of investment and credit policy.  27p.                
     229    Hart, Oliver & Moore, John.  The governance of exchanges:   
            members' co-operatives versus outside ownership.  40p.      
     237    Bhattacharya, Sudipto, Fulghieri, Paolo & Rovelli, Riccardo.
             Turnpike banking: only the meek shall inherit the earth.   
            53p.                                                        
     231    Cerasi, Vittoria & Daltung, Sonja.  The optimal size of a   
            bank: costs and benefits of diversification.  39p.          
     241    Espenlaub, Susanne.  IPO signalling of initial owners'      
            private benefits of control.  47p.                          
     233    Evans, Martin D.D.  Dividend variability and stock market   
            swings.  47p.                                               



                                                           PAGE  61

     235    Frantz, Pascal.  Auditor's skill, auditing standards,       
            litigation, and audit quality.  41p.                        
     236    Grimaud, Antoine F.  The regulation of predatory firms.     
            35p.                                                        
     232    Hartmann, Philipp.  Trading volunes and transaction costs in
            the foreign market: evidence from daily dollar-yen spot     
            data.  23p.                                                 
     230    Mella-Barral, Pierre.  The dynamics of corporate debt       
            forgiveness and contract renegotiation.  28p.               
     234    Ortalo-Magne, Francois.  Asset price fluctuations in an     
            overlapping generations economy: do collateral constraints  
            matter?.  45p.                                              
     238    Payne, Richard.  Announcement effects and seasonality in the
            intra-day foreign exchange market.  48p.                    
     240    Povel, Paul.  Optimal `soft' or `tough' bankruptcy          
            procedures.  35p.                                           
     239    Schoenmaker, Dirk.  Contagion risk in banking.  24p.        
     242    Snell, Andy & Tonks, Ian.  Using time series methods to     
            assess information and inventory effects in a dealer market 
            in illiquid stocks.  43p.                                   
     249    Bolton, Patrick & von Thadden, Ernst-Ludwig.  Blocks,       
            liquidity and corporate control.  30p.                      
     247    Clark, Peter B., Goodhart, Charles A.E. & Huang, Haizhou.   
            Optimal monetary policy rules in a rational expectations    
            model of the Phillips curve.  50p.                          
     250    Mella-Barral, Pierre & Tychon, Pierre.  Default risk in     
            asset pricing.  19p.                                        
     248    Sandmann, G. & Koopman, S.J.  Maximum likelihood estimation 
            of stochastic volatility models.  40p.                      

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

     293    d'Aspremont, Claude, Bhattacharya, Sudipto & Gerard-Varet,  
            Louis-Andre.  Bargaining and sharing knowledge.  48p.       
     292    Hart, Oliver & Moore, John.  The governance of exchanges:   
            members co-operatives versus outside ownership.  40p.       
     308    Chemla, Gilles.  Competition, investment and vertical       
            integration.  30p.                                          
     297    Foldes, Lucien.  The optimal consumption function in a      
            Brownian model of accumulation, part a: the consumption     
            function as solution .  26p.                                
     302    Horsley, Anthony & Wrobel, Andrzej J.  Comparative statics  
            for a partial equilibrium model of investment with Wicksell 
            complementary capital inputs.  16p.                         
     301    Horsley, Anthony & Wrobel, Andrzej J.  Efficiency rents of  
            storage plants in peak-load pricing, I: pumped storage.     
            82p.                                                        
     300    Horsley, Anthony & Wrobel, Andrzej J.  Uninterruptible      
            consumption, concentrated charges and equilibrium in the    
            commodity space of continuous functions.  58p.              
     299    Horsley, Anthony & Wrobel, Andrzej J.  The Wong-Viner       
            envelope theorem for nonsmooth joint costs, rental valuation
            and the short-term approach to long-run.  78p.              
     298    Roberts, Kevin.  The Le Chatelier principle can be          
            `expected' to hold globally: implications of rationality in 
            constrained and uncon.  26p.                                


                                                           PAGE  62

     305    Datta, Saikat.  Building trust.  36p.                       
     304    Datta, Saikat.  On connections between renegotiation proof  
            sets of long finitely and infinitely repeated games with low
            discounting.  48p.                                          
     303    Felli, Leonardo.  Preventing collusion through discretion.  
            45p.                                                        
     310    Foldes, Lucien.  The optimal consumption function in a      
            Brownian model of accumulation part b: existence of         
            solutions of boundary val.  73p.                            

     UNIVERSITY OF LONDON-BIRKBECK COLLEGE.  Department of Economics.   

     11/95  Booth, alison L. & Zoega, Gylfi.  Quitting externalities    
            with uncertainty about future productivity.  22p.           
     3/96   Daripa, Arupratan.  Equilibrium in contracts with competing 
            agencies.  24p.                                             
     12/95  Lindbeck, Assar & Snower, Dennis J.  Restructuring          
            production and work.  42p.                                  
     2/96   Psaradakis, Zacharias.  Testing for unit roots in time      
            series with nearly deterministic seasonal variation.  28p.  
     1/96   Snower, Dennis J.  Unemployment benefits: an assessment of  
            proposals for reform.  40p.                                 
     4/96   Orszag, J. Michael & Snower, Dennis J.  The continuum       
            approach to unemployment policy: an overview.  16p.         
     5/96   Orszag, J. Michael & Snower, Dennis J.  A macro theory of   
            employment vouchers.  31p.                                  
     6/96   Ravn, Morten O. & Sola, Martin.  A reconsideration of the   
            empirical evidence on the asymmetric effects of money supply
            shocks: positive vs. negative.  32p.                        
     7/96   Wall, Howard J.  Pro-competitive tariffs.  23p.             
     10/96  Coakley, Jerry, Kulasi, Farida & Smith, Ron.  Saving,       
            investment and capital mobility in LDCs.  23p.              
     11/96  Diaz, M. Pilar & Snower, Dennis J.  Employment,             
            macroeconomic fluctuations and job security.  29p.          
     8/96   Ha, Jiming & Sibert, Anne.  Strategic capital taxation in   
            large open economies with mobile capital.  38p.             
     9/96   Liu, Lihong & Sibert, Anne.  Government finance with        
            currency substitution.  28p.                                
     12/96  Orszag, J. Michael.  A cobweb model with local              
            externalities.  15p.                                        
     15/96  Chen, Yu-Fu & Zoega, Gylfi.  How effective are firing       
            costs?.  22p.                                               
     13/96  Karanasos, Menelaos.  A new method for obtaining the        
            autocovariance of an ARMA model: an exact-form solution.    
            23p.                                                        
     14/96  Manzini, Paola & Snower, Dennis J.  On the foundations of   
            wage bargaining.  41p.                                      
     16/96  Orszag, J. Michael & Zoega, Gylfi.  Wages ahead of demand.  
            8p.                                                         

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

     8/95   Psaradakis, Zacharias & Sola, Martin.  Finite-sample        
            properties of the maximum likelihood estimator in           
            autoregressive models with Markov switching.  23p.          



                                                           PAGE  63


     UNIV. OF LONDON-BIRKBECK COLLEGE.  Inst. for Financial Research.   

     11     Daripa, Arupratan.  Market allocation and the impossibility 
            of provision of costly information.  20p.                   
     6      Daripa, Arupratan.  A theory of Treasury auctions.  48p.    
     13     Hansch, Oliver & Neuberger, Anthony.  Strategic trading by  
            market makers on the London Stock Exchange.  27p.           
     12     Hansch, Oliver, Naik, Narayan Y. & Viswanathan, S.  Do      
            inventories matter in dealership markets?: evidence from the
            London Stock Exchange.  52p.                                
     8      Instefjord, Norvald.  Information, liquidity, and capital   
            structure.  32p.                                            
     9      Instefjord, Norvald.  Market transparency, immediacy and    
            financial intermediation.  36p.                             
     5      Instefjord, Norvald.  Renegotiation and corporate financing 
            policy.  36p.                                               
     1      Jackson, Patricia, Maude, David J. & Perraudin, William.    
            Capital requirements and value-at-risk analysis.  35p.      
     4      Lambrecht, Bart & Perraudin, William.  Creditor races and   
            contingent claims.  15p.                                    
     3      Lambrecht, Bart, Perraudin, William & Satchell, Stephen.    
            Mortgage default and repossession.  31p.                    
     2      Perraudin, William & Sibert, Anne.  The timing of reform.   
            33p.                                                        
     7      Satchell, Stephen E. & Christodoulakis, George A.  The      
            simulation of option prices with application to LIFFE       
            options on futures.  30p.                                   
     10     Sorensen, Bent & Perraudin, William.  Modelling exchange    
            rates in continuous time: estimation and option pricing.    
            39p.                                                        
     14     Spencer, Peter D.  Intertemporal substitution, time         
            preference and portfolio hedging behavior in a continuous   
            time stochastic model of.  43p.                             
     17     Cathcart, Lara & Perraudin, William.  Interest rate setting 
            in floating rate mortgage markets.  25p.                    
     15     Daripa, Arupratan.  Multi-unit auctions under proprietary   
            information: informational free rides and revenue banking.  
            24p.                                                        
     18     Kenc, Turalay & Perraudin, William.  Pension systems in     
            Europe: a general equilibrium study.  41p.                  
     16     Lambrecht, Bart, Perraudin, William & Satchell, Stephen.    
            Time to default in the U.K. mortgage market.  22p.          
     21     El-Jahel, Lina, Lindberg, Hans & Perraudin, William.        
            Interest rate distributions, yield curve modelling and      
            monetary policy.  39p.                                      
     19     Instefjord, Norvald.  Financial innovation and delegation of
            control.  34p.                                              
     20     Satchell, Stephen E.  Lower partial moment capital asset    
            pricing models: a re-examination.  14p.                     
     23     El-Jahel, Lina, Lindberg, Hans & Perraudin, William.  Yield 
            curves with jump short rates.  33p.                         
     24     Marin, Jose M. & Rahi, Rohit.  Information revelation and   
            market incompleteness.  31p.                                




                                                           PAGE  64

     22     Satchell, Stephen & Shin, Yongcheol.  Forecasting single and
            multiple hazards: the use of the Weibull distribution with  
            application to arrears mortgages .  22p.                    

     UNIVERSITY COLLEGE LONDON.  Department of Economics.               

     9521   Blundell, Richard & Stoker, Thomas.  Consumption and the    
            timing of income risk.  43p.                                
     9520   Dearden, Lorraine, Martin, Stephen & Reed, Howard.          
            Intergenerational mobility in Britain.  42p.                
     9602   Dustmann, Christian.  An economic analysis of return        
            migration.  24p.                                            
     9604   Kollmann, Robert.  Fiscal policy, productivity shocks and   
            the United States trade balance deficit.  39p.              
     9603   Kollmann, Robert.  Incomplete asset markets and the         
            cross-country consumption correlation puzzle.  24p.         
     9601   Kuypers, Tim.  The beautiful game?: an econometric study of 
            why people watch English football.  38p.                    
     9605   Vulkan, Nir.  An economist's perspective on probability     
            matching: a survey.  20p.                                   
     9618   Agastya, Murali.  Adaptive play in multiplayer bargaining   
            situations.  24p.                                           
     9612   Agastya, Murali.  Choosing among bargaining situations.     
            11p.                                                        
     9613   Binmore, Ken, et al.  Hard bargains and lost opportunities. 
            34p.                                                        
     9607   Blundell, Richard & Preston, Ian.  Consumption inequality   
            and income uncertainty.  24p.                               
     9614   Cabrales, Antonio & Hoshi, Takeo.  Heterogeneous beliefs,   
            wealth accumulation and asset price dynamics.  40p.         
     9606   Chick, Victoria.  Keynes' theory of investment and necessary
            compromise.  18p.                                           
     9609   Chick, Victoria.  The monetary theory of Keynes and the post
            Keynesians.  19p.                                           
     9608   Chick, Victoria & Dow, Sheila.  Regulation and differences  
            in financial institutions.  10p.                            
     9610   Pemberton, Malcolm & Ulph, David.  Measuring national income
            and measuring sustainability.  32p.                         
     9617   Siandra, Eduardo.  International risk-sharing, dynamic      
            efficiency and pay-as-you-go.  20p.                         
     9616   Siandra, Eduardo.  Partnerships, search and money.  28p.    
     9611   Vaughan, Richard.  Evolutive equilibrium selection I:       
            symmetric two player binary choice games.  33p.             
     9615   Verry, Donald & Araujo, Tarcisio.  Dualism in Brazilian     
            metropolitan labour markets.  41p.                          
     9621   Dustmann, Christian.  Temporary migration, human capital and
            language fluency of migrants.  27p.                         
     9619   Dustmann, Christian, Rajah, Najma & van Soest, Arthur.      
            Part-time work, school success and school leaving.  34p.    
     9622   Ponti, Giovanni.  Cycles of learning in the centipede game. 
            24p.                                                        
     9620   Rota, Paula.  Testing (S,s) rules in labour demand: ordered 
            vs. multinomial probit.  36p.                               

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

     9550   Chander, Parkash & Tulkens, Henry.  The core of an economy  
            with multilateral environmental externalities.  23p.        
                                                           PAGE  65

     9554   Cremer, Helmuth & Pestieau, Pierre.  Redistributive taxation
            and social insurance.  16p.                                 
     9546   Crettez, Bertrand, Michel, Philippe & Vidal, Jean-Pierre.   
            Time preference and labour migration in an OLG model with   
            land and capital.  14p.                                     
     9549   Deschamps, Philippe J.  Full sample maximum likelihood      
            estimation of dynamic demand models.  36p.                  
     9548   De Wold, Olivier & Forges, Francoise.  On strategic         
            equilibria and rational choice.  12p.                       
     9552   Dhillon, Amrita.  Extended Paretian rules and relative      
            utilitarianism.  36p.                                       
     9558   Dutta, Jayasri & Michel, Philippe.  The distribution of     
            wealth with imperfect altruism.  24p.                       
     9555   Eeckhoudt, Louis & Zenou, Yves.  Bid rents under            
            unemployment risk: delayed versus timeless uncertainty.     
            23p.                                                        
     9551   Gabszewicz, Jean J. & Poddar, Sougata.  Demand fluctuations 
            and capacity utilization under duopoly.  18p.               
     9556   Germain, Marc, Toint, Philippe L. & Tulkens, Henry.         
            International negotiations on acid rains in Northern Europe:
            a discrete time iterative process.  20p.                    
     9557   Heifetz, Aviad.  Infinitary S5-epistemic logic.  14p.       
     9560   Kneip, Alois & Simar, Leopold.  A general framework for     
            frontier estimation with panel data.  31p.                  
     9559   Michel, Philippe, Pestieau, Pierre & Vidal, Jean-Pierre.    
            Labor mobility and redistribution with evolving altruism:   
            the small economy case.  14p.                               
     9561   Simar, Leopold.  Aspects of statistical analysis in DEA-type
            frontier models.  13p.                                      
     9553   Vannetelbosch, Vincent J.  Two-person sequential bargaining 
            with boundedly rational players.  25p.                      
     9547   Vera, Jorge R.  Ill-posedness and quadratic programming:    
            stability and complexity issues.  30p.                      
     9575   Ceria, Sebastian, et al.  Cutting planes for integer        
            programs with general integer variables.  23p.              
     9566   Cremer, Helmuth, et al.  Mobility and redistribution: a     
            survey.  28p.                                               
     9564   DeWinne, Rudy.  The discretization bias for processes of the
            short-term interest rate: an empirical analysis.  26p.      
     9563   Fujita, Masahisa, Thisse, Jacques-Francois & Zenou, Yves.   
            On the endogenous formation of secondary employment centers 
            in a city.  29p.                                            
     9569   Ghysels, Eric, Harvey, Andrew & Renault, Eric.  Stochastic  
            volatility.  70p.                                           
     9570   Klein Haneveld, Willem, Stougie, Leen & van der Vlerk,      
            Maarten H.  On the convex hull of the composition of a      
            separable and a linear function.  11p.                      
     9572   Magill, Michael & Quinzii, Martine.  Which improves welfare 
            more: nominal or indexed bond?.  43p.                       
     9565   Maret, Isabelle.  Distribution of demand behavior and the   
            golden rule stationary state.  28p.                         
     9573   Modica, Salvatore, Rustichini, Aldo & Tallon, Jean-Marc.  A 
            model of general equilibrium with unforseen contingencies.  
            35p.                                                        




                                                           PAGE  66

     9568   Moner Colonques, Rafael.  Cost uncertainty and trade        
            liberalization in international oligopoly.  24p.            
     9567   Nesterov, Yurii.  Infeasible start interior point           
            primal-dual methods in nonlinear programming.  34p.         
     9562   Schultz, Rudiger, Stougie, Leen & van der Vlerk, Maarten H. 
            Solving stochastic programs with complete integer recourse: 
            a framework using Grobner bases.  25p.                      
     9574   Turrini, Alessandro.  Trade policy and wages when firms can 
            delocalize production.  16p.                                
     9571   Wilson, Paul W. & Simar, Leopold.  Bootstrap estimation for 
            nonparametric efficiency.  34p.                             
     9609   Belvaux, Gaetan, et al.  Optimal placement of add/drop      
            multiplexers: static and dynamic models.  17p.              
     9614   Chevalier, Philippe B.  Quality improvement through         
            inspection.  22p.                                           
     9612   d'Aspremont, Claude, Bhattacharya, Sudipto & Gerard-Varet,  
            Louis-Andre.  Bargaining and sharing knowledge.  48p.       
     9624   Donati, Paola.  Two roles for monetary policy when the asset
            market is incomplete and information is asymmetric.  36p.   
     9576   Dutta, Jayasri & Morris, Stephen.  The revelation of        
            information and self-fulfilling beliefs.  15p.              
     9604   El Babsiri, Mohamed & Zakoian, Jean-Michael.                
            Contemporaneous asymmetry in weak GARCH processes.  48p.    
     9607   Ginsburgh, Victor & Weber, Shlomo.  Product lines and price 
            discrimination in the European car market.  15p.            
     9579   Heifetz, Aviad & Polemarchakis, Heracles M.  Partial        
            revelation with rational expectations.  21p.                
     9603   Herings, P. Jean-Jacques.  An extremely simple proof of the 
            K-K-M-S theorem.  7p.                                       
     9602   Jouvet, Pierre-Andre.  Equivalence between labour managed   
            economy and capitalist economy and firms' indivisibility.   
            8p.                                                         
     9619   Justel, Ana & Pena, Daniel.  Bayesian unmasking in linear   
            models.  30p.                                               
     9601   Keen, Michael & Marchand, Maurice.  Fiscal competition and  
            the pattern of public spending.  23p.                       
     9606   Lejeune, Barnard.  A full heteroscedastic one-way error     
            components model for incomplete panel: maximum likelihood   
            estimation and Lagra.  28p.                                 
     9623   Marini, Marco.  Property rights and market: employee        
            privatization as a cooperative bargaining process.  35p.    
     9608   Mongin, Phillippe.  A note on mixture sets in decision      
            theory.  9p.                                                
     9617   Ray, Indrajit.  A remark on the consistency principle for   
            games in strategic form.  9p.                               
     9618   Smith, Tony E. & Zenou, Yves.  Dual labor markets, urban    
            unemployment and multicentric cities.  49p.                 
     9613   van den AKker, Janna M. & van de Velde, Steef L.  Parallel  
            machine scheduling by column generation.  20p.              
     9616   van den Akker, Janna M., Hurkens, C.A.J. & Savelsbergh,     
            Martin W.P.  A time-indexed formulation for single machine  
            scheduling problems: branch and cut.  31p.                  
     9577   Ventura, Luigi.  Can irrelevant product differentiation     
            matter?.  21p.                                              




                                                           PAGE  67

     9610   Wang, Yaoguang.  Linear programming solvable location       
            problems on networks.  26p.                                 
     9615   Wauthy, Xavier & Zenou, Yves.  How imperfect competition in 
            the labor market affects long-term unemployment policies.   
            32p.                                                        
     9621   Wei, Jing-Yuan & Smeers, Yves.  Procedures for computing    
            equilibria of the oligopoly expansion game under            
            predetermined multiperiod pricings, pt.I:.  27p.            
     9622   Wei, Jing-Yuan & Smeers, Yves.  Procedures for computing    
            equilibria of the oilgopoly expansion game under            
            predetermined multiperiod pricings, pt.II.  23p.            
     9620   Wei, Jing-Yuan & Smeers, Yves.  Spatially oligopolistic     
            models with Cournot producers and regulated transportation  
            prices.  31p.                                               
     9611   Zhou, Lin.  Bayesian utilitarianism.  15p.                  
     9605   Zhou, Lin.  Integral representation of continuous           
            comonotonically additive functionals.  17p.                 
     9529   Hara, Chiaki.  Marginal rates of substitution for           
            uninsurable risks with constrained-efficient asset          
            structures.  39p.                                           

     MACQUARIE UNIVERSITY.  Department of Economics.                    

     15/95  Freedman, Craig.  No end to Means: George Stigler's profit  
            motive.  36p.                                               
     16/95  Matthews, Kathryn.  The extent, patterns and determinants of
            intra-industry trade between Australia and other            
            Asia-Pacific countries.  27p.                               
     13/95  Sinha, Dipendra.  An aggregate import demand function for   
            Greece: a cointegration approach.  17p.                     
     14/95  Turnell, Sean.  Butter for guns: F.L. McDougall, nutrition  
            and economic appeasement.  23p.                             
     19/95  Horne, Jocelyn.  APEC, East Asia and Eastern Europe trade   
            linkages and issues.  27p.                                  
     17/95  O'Donnell, Rod.  The genesis of the only diagram in the     
            "General Theory".  17p.                                     
     18/95  Abelson, Peter.  Sydney's future: an economic approach.     
            21p.                                                        
     1/96   Heaton, Chris.  Public expenditure and private investment:  
            crowding-in and q-complementarity.  22p.                    
     3/96   Oslington, Paul.  Dual representation of the specific       
            factors model in international trade theory.  9p.           
     2/96   Oslington, Paul.  Factor price equalisation and trade       
            patterns with unemployment.  16p.                           
     5/96   Freedman, Craig.  Countervailing egos: Stigler vs.          
            Galbraith.  38p.                                            
     4/96   Turnell, Sean.  Proto-Keynesian undercurrents in Australia's
            external economic policy of the inter-war years: the        
            "Sheltered Market.  26p.                                    

     UNIVERSITY OF MARYLAND.  Center for International Economics.       

     18     Bartolini, Leonardo & Drazen, Allan.  When liberalization   
            reflects external shocks, what do we learn?.  32p.          




                                                           PAGE  68

     22     Bhagwati, Jagdish & Panagariya, Arvind.  Preferential       
            trading areas and multilateralism: strangers, friends or    
            foes?.  90p.                                                
     23     Calvo, Guillermo A.  Capital flows and macroeconomic        
            management: tequila lessons.  22p.                          
     24     Calvo, Guillermo A. & Goldstein, Morris.  Crisis prevention 
            and crisis management after Mexico: what role for the       
            official sector?.  90p.                                     
     20     Calvo, Guillermo A. & Mendoza, Enrique G.  Mexico's balance 
            of payments crisis: a chronicle of a death foretold.  53p.  
     19     Drazen, Allan.  Policy signalling in the open economy: a    
            reexamination.  30p.                                        
     17     Kaminsky, Graciela L. & Reinhart, Carmen M.  The twin       
            crises: the causes of banking and balance of payments       
            problems.  31p.                                             
     21     Panagariya, Arvind.  The Meade model of preferential        
            trading: history, analytics and policy implications.  45p.  
     26     Drazen, Allan.  Towards a political economy theory of       
            domestic debt.  26p.                                        
     25     Mendoza, Enrique G. & Uribe, Martin.  The syndrome of       
            exchange rate based stabilizations and the uncertain        
            duration of currency pegs.  46p.                            

     UNIVERSITY OF MARYLAND.  Department of Economics.                  

     9515   Gleason, Suzanne.  The determinants of male/female survival 
            in India: theory and evidence.  46p.                        
     9514   Kelejian, Harry H. & Robinson, Dennis P.  A suggested test  
            for spatial autocorrelation and/or heteroskedasticity and   
            corresponding Monte Carlo results.  36p.                    
     9602   Oates, Wallace E.  The invisible hand in the public sector: 
            interjurisdictional competition in theory and practice.     
            34p.                                                        
     9601   Oates, Wallace E.  Taxation in a federal system: the        
            tax-assignment problem.  32p.                               
     9604   Betancourt, Roger & Gautschi, David.  The nature of service 
            institutions: welfare enhancing constraints and primitive   
            economic activities.  36p.                                  
     9603   Binder, Michael & Pesaran, M. Hashem.  Stochastic growth.   
            55p.                                                        
     9606   Hoff, Karla & Lyon, Andrew B.  Can technological progress   
            lower incomes?: new results on lemons models.  13p.         
     9605   Kranton, Rachel E. & Swamy, Anand V.  The hazards of        
            piecemeal institutional reform: an analysis of British civil
            courts in colonial Africa.  49p.                            
     9607   Ausubel, Lawrence M. & Cramton, Peter C.  Demand reduction  
            and inefficiency in multi-unit auctions.  39p.              
     9608   Binder, Michael & Pesaran, M. Hashem.  Multivariate linear  
            rational expectations models: characterization of the nature
            of the solutions and their fully r.  15p.                   

     MASSACHUSETTS INSTITUTE OF TECHNOLOGY.  Department of Economics.   

     96-8   Acemoglu, Daron & Zilibotti, Fabrizio.  Agency costs in the 
            process of development.  39p.                               



                                                           PAGE  69

     96-5   Acemoglu, Daron & Verdier, Thierry.  Property rights,       
            corruption and the allocation of talent: a general          
            equilibrium approach.  34p.                                 
     96-7   Acemoglu, Daron & Pischki, Jorn-Steffen.  Why do firms      
            train?: theory and evidence.  49p.                          
     96-1   Athey, Susan.  Characterizing properties of stochastic      
            objective functions.  57p.                                  
     96-3   Chevalier, Judith & Ellison, Glenn.  Risk taking by mutual  
            funds as a response to incentives.  53p.                    
     9527   Eckaus, Richard S.  Is it beautiful to be small, or is it a 
            burden?.  40p.                                              
     96-4   Ellison, Glenn.  Basins of attraction, long run equilibria, 
            and the speed of step-by-step evolution.  44p.              
     96-2   Poterba, James M. & Samwick, Andrew A.  Stock ownership     
            patterns, stock market fluctuations, and consumption.  79p. 
     96-6   Smith, Lones.  On the irrelevance of trade timing.  13p.    
     9615   Acemoglu, Daron.  Changes in unemployment and wage          
            inequality: an alternative theory and some evidence.  48p.  
     9616   Bai, Jushan.  An inequality for vector-valued martingales   
            and its applications.  12p.                                 
     9613   Bai, Jushan.  A note on spurious break and regime shift in a
            cointegrated relationship.  12p.                            
     9610   Bernard, Andrew & Wagner, Joachim.  Exports and success in  
            German manufacturing.  30p.                                 
     9614   Caballero, Ricardo J. & Leahy, John V.  Fixed costs: the    
            demise of marginal q.  19p.                                 
     9611   Caselli, Francesco & Ventura, Jaume.  A representative      
            consumer theory of distribution.  39p.                      
     9612   DiNardo, John E. & Pischke, Jorn-Steffen.  The returns to   
            computer use revisted: have pencils changed the wage        
            structure too?.  30p.                                       
     9618   Kremer, Michael.  How much does sorting increase            
            inequality?.  37p.                                          
     9617   Kremer, Michael & Morcom, Charles.  Elephants.  74p.        
     96-9   Smith, Lones & Sorensen, Peter.  Informational herding as   
            experimentation deja vu.  15p.                              
     9619   Smith, Lones & Sorensen, Peter.  Pathological outcomes of   
            observational learning.  47p.                               

     UNIVERSITY OF MELBOURNE.  Department of Economics.                 

     491    Bakker, Alexander.  The least squares frequency estimator of
            the generalized exponential family of densities: inference &
            Monte Carlo...  24p.                                        
     494    Borland, Jeff.  Education and the structure of earnings in  
            Australia.  38p.                                            
     492    Cornwell, Antonia & Creedy, John.  Measuring the welfare    
            effects of tax changes using the LES: an application to a   
            carbon tax.  27p.                                           
     490    Dixon, Robert.  Empirical estimates of the social cost of   
            monopoly: a brief survey.  29p.                             
     489    Ferrier, Gary D. & Hirschberg, Joseph G.  Bootstraping      
            confidence intervals for linear programming efficiency      
            scores with an illustration using Italian data.  21p.       




                                                           PAGE  70

     493    Gunther, Alan.  An outline of Australian government policy  
            towards foreign investment in Australia from 1976 to the    
            present.  50p.                                              
     496    Hurn, A. Stan, Lindsay, K.A. & Michie, C.A.  Modelling the  
            lifespan of human t lymphocyte subsets.  10p.               
     495    McDonald, James T.  The composition of industrial action in 
            Australian mining and manufacturing.  41p.                  
     488    Worswick, Christopher.  The labour market adjustment of     
            immigrant families.  32p.                                   
     499    Bakker, Alexander.  Extensions of the generalized least     
            squares frequency estimator.  19p.                          
     497    Henry, O.T.J.  A variance decomposition for the excess      
            return on Australian stocks.  12p.                          
     500    Lye, J.N. & McDonald, I.M.  Trade unions and the equilibrium
            rate of unemployment.  23p.                                 
     498    MacLaren, Donald.  Uncertainty aversion and technical       
            barriers to trade: an Australian example.  23p.             
     503    Atkinson, M.E. & Creedy, John.  The choice of early         
            retirement age and the Australian superannuation system.    
            42p.                                                        
     501    Dixon, Robert.  Keynes' macro theory of profits.  12p.      
     502    Hurn, A.S. & Lindsay, K.A.  Time series evidence of global  
            warming.  13p.                                              
     507    Alden, Dave.  Markets in natural heritage health management.
             15p.                                                       
     506    Hirschberg, Joseph G.  Modelling time of day substitution   
            using the second moments of demand.  21p.                   
     505    Lim, Guay C. & McNelis, Paul D.  Stock price fluctuations in
            Australia: the influence of Japanese and U.S. markets.  31p.
     504    Worswick, Christopher.  Immigrant families in the Canadian  
            labour market.  29p.                                        
     509    Alvarado, Jose & Creedy, John.  Social expenditure          
            projections for Australia: supplementary data.  29p.        
     510    Bakker, Alex.  The stationary distribution of an autonomous 
            Ito process.  23p.                                          
     514    Borland, Jeff, Hirschberg, Joe & Lye, Jenny.  Earnings of   
            public sector and private sector employees in Australia: is 
            there a difference?.  66p.                                  
     512    Cardak, Buly.  Distributional implications of public and    
            private investment in human capital: a comparative analysis.
             29p.                                                       
     511    Creedy, John.  Income dynamics over the life cycle: new     
            evidence for New Zealand.  36p.                             
     515    Gillman, Max, Siklos, Pierre L. & Silver, J. Lew.  Money    
            velocity with costly credit.  36p.                          
     513    Hyde, Charles E.  On the existence of haggling and posted   
            prices in the presence of shoppers.  23p.                   
     518    Agenor, Pierre R., et al.  Consumption smoothing and the    
            current account: evidence from France, 1970-94.  18p.       
     520    Creedy, John.  Poverty and inequality comparisons of        
            alternative tax structures.  29p.                           
     522    Dixon, Robert.  Apparent asymmtries in the relationship     
            between the participation rate and the employment rate in   
            Australia.  12p.                                            




                                                           PAGE  71

     519    Gillman, Max.  Optimality of exchange credit restrictions.  
            33p.                                                        
     516    Gillman, Max.  Price stability as optimal policy: costly    
            nominal adjustment in general equilibrium.  32p.            
     517    Hyde, Charles E. & Perloff, Jeffrey M.  Multimarket power   
            estimation: the Australian retail meat sector.  25p.        
     523    McDonald, James T. & Worswick, Christopher.  Unemployment   
            incidence of immigrants over the business cycle.  26p.      
     521    Pagan, Adrian R. & Martin, Vance L.  Simulation estimation  
            of some factor models in econometrics.  39p.                
     508    Amiel, Yoram, Creedy, John & Hurn, Stan.  Measuring         
            inequality aversion.  14p.                                  
     528    Alden, David M., Proops, John L.R. & Gay, Phillip W.        
            Industrial hemp's double dividend: a study for the USA.     
            26p.                                                        
     524    Bakker, Alexander.  The changing distribution of income with
            age: estimates of the exponential family using grouped data.
             28p.                                                       
     525    Dixon, Robert & Gunther, Alan.  Estimates of the cost of    
            monopoly in Australian manufacturing.  35p.                 
     526    Guests, Ross S. & McDonald, Ian M.  The socially optimal    
            level of saving in Australia, 1960-61 to 1994-95.  51p.     
     530    Lyne, J.N., McDonald, I.M. & Sibly, H.  Insiders, non-market
            activity and unemployment.  39p.                            
     527    Stemp, Peter J. & Scarth, William M.  Zero inflation        
            targets: central bank commitment and fiscal policy outcomes.
             15p.                                                       
     529    McDonald, Ian M.  A Kaldorian model of the trade cycle.     
            51p.                                                        
     531    Olekalns, Nilss & Wilkins, Nigel.  Re-examining the evidence
            for long-run purchasing power parity.  9p.                  
     533    Cashin, Paul & McDermott, C. John.  Are Australia's current 
            account deficits excessive?.  24p.                          
     535    Creedy, John.  Poverty, labour supply and welfare when      
            utility depends on a poverty level.  25p.                   
     534    Johnston, C.G., James, R.H. & McDonald, I.M.  An evaluation 
            of the effectivesness of collaborative problem-solving for  
            learning economics.  29p.                                   
     536    Creedy, John.  Measuring the welfare effects of price       
            changes: a convenient parametric approach.  34p.            
     537    Creedy, John & Van de Ven, Justin.  The distributional      
            effects of inflation in Australia, 1980-1995.  17p.         
     538    Olekalns, Nilss.  Australian evidence on tax smoothing and  
            the optimal budget surplus.  23p.                           

     MICHIGAN STATE UNIVERSITY.  Department of Economics.               

     9504   Baier, Scott L.  Optimal monetary policy in a two country   
            sluggish cash flow model with fixed and flexible exchange   
            rates.  40p.                                                
     9505   Linz, Susan J.  Job rights in Russian firms: endangered or  
            extinct institution?.  44p.                                 
     9507   Creane, Anthony.  Trade policy for when ignorance is bliss. 
            22p.                                                        




                                                           PAGE  72

     9506   Gardecki, Rosella & Neumark, David.  Order from chaos: the  
            effects of early labor market experience on adult labor     
            market outcomes.  45p.                                      
     9508   Glomm, Gerhard & Ravikumar, B.  Vouchers, public and private
            education, and income distribution.  29p.                   
     9509   Linz, Susan J.  Russian firms in transition: champions,     
            challengers, and chaff.  35p.                               
     9510   Glomm, Gerhard & Ravikumar, B.  Flat-rate taxes, government 
            spending on education, and growth.  22p.                    
     9511   Baillie, Richard T. & Osterberg, William P.  Central bank   
            intervention and risk in the forward premium.  20p.         
     9601   Creane, Anthony.  Quality control and pricing.  21p.        
     9600   Im, Kyung So, et al.  Efficient estimation of panel data    
            models with strictly exogenous explanatory variables.  39p. 

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

     9511   Brunello, Giorgio & Checchi, Daniele.  Does imitation help?:
            forty years of wage determination in the Italian private    
            sector.  35p.                                               
     9509   Florio, Massimo.  Tax neutrality in the King-Fullerton      
            framework, investment externalities, and growth.  41p.      
     9513   Navaretti, Giorgio B. & Bigano, Andrea.  R & D inter-firm   
            agreements in developing countries: where? why? how?.  45p. 
     9602   Barba Navaretti, Giorgio, Soloaga, Isidro & Takacs, Wendy.  
            Bargains rejected?: developing country trade policy on used 
            equipment.  14p.                                            
     9604   Cerasi, Vittoria.  An empirical analysis of banking         
            concentration.  20p.                                        
     9603   Checchi, Daniele & Corneo, Giacomo.  Social custom and      
            strategic effects in trade union membership: Italy          
            1951-1993.  23p.                                            

     UNIVERSITY OF MINNESOTA.  Center for Economic Research.            

     286    Carranza, Luis.  Credit imperfections, inequality and       
            economic growth.  48p.                                      
     285    Cavalcanti, Ricardo de O.  Capital-gains taxation in applied
            general equilibrium.  46p.                                  
     287    Jeong, Byeongju.  How important is uncertainty in accounting
            for differences in investment and output across countries?. 
            59p.                                                        
     288    Gjerstad, Steven.  Multiple equilibria in exchange economies
            with homothetic, nearly identical preferences.  26p.        
     291    Imrohoroglu, Ayse, Merlo, Antonio & Rupert, Peter.  On the  
            political economy of income redistribution and crime.  38p. 
     290    Marshall, Robert C. & Merlo, Antonio.  Pattern bargaining.  
            45p.                                                        
     289    McLennan, Andrew.  Consequences of the Condorcet Jury       
            Theorem for beneficial information aggregation by rational  
            agents.  8p.                                                
     293    Caucutt, Elizabeth M.  Peer group effects in applied general
            equilibrium.  53p.                                          
     291    Imrohoroglu, Ayse, Merlo, Antonio & Rupert, Peter.  On the  
            political economy of income redistribution and crime.  38p. 



                                                           PAGE  73

     292    Liu, Zheng.  Seasonal cycles, business cycles, and monetary 
            policy.  39p.                                               
     290    Marshall, Robert C. & Merlo, Antonio.  Pattern bargaining.  
            45p.                                                        
     294    Rebelein, Robert P.  The effect of strategic behavior on    
            Ricardian equivalence.  26p.                                

     UNIVERSITY OF MINNESOTA.  Economic Development Center.             

     95-9   Gollin, Douglas.  Do taxes on large firms impede growth?:   
            evidence from Ghana.  49p.                                  
     96-1   Diao, X., et al.  A dynamic computable general equilibrium  
            model: an application of R & D-based endogenous growth model
            theory.  44p.                                               
     96-3   Diao, Xinshen & Somwaru, Agapi.  Dynamic gains and losses   
            from trade reform: an intertemporal general equilibrium     
            model of the U.S. and MERCOSUR.  47p.                       
     96-2   Gopinath, Munisamy & Roe, Terry L.  R & D spillovers:       
            evidence from U.S. food processing, farm machinery and      
            agriculture.  18p.                                          

     MONASH UNIVERSITY.  Department of Econometrics.                    

     18/95  Hao, Kang & Inder, Brett.  A modified fluctuation test for  
            structural change.  19p.                                    
     20/95  Kofman, Paul & Martens, Martin.  Interaction between the    
            London and New York stock markets during common trading     
            hours.  34p.                                                
     19/95  Maharaj, E.A., Singh, N. & Inder, B.A.  "Homogeneity of     
            variance test" for the comparison of two or more spectra.   
            37p.                                                        
     16/95  Martin, Gael.  Bayesian analysis of a cointegration model   
            using Markov chain Monte Carlo.  45p.                       
     17/95  Martin, Gael.  Fractional cointegration: a Bayesian         
            approach.  43p.                                             
     3/96   Hao, Kang.  Testing for structural change in cointegrated   
            regression models: some comparisons and generalizations.    
            28p.                                                        
     2/96   Harris, David.  Principal components analysis of            
            cointegrated time series.  42p.                             
     4/96   Harris, Mark N. & Matyas, Laszlo.  A comparative analysis of
            different estimators for dynamic panel data models.  54p.   
     1/96   Saligari, Grant R. & Snyder, Ralph D.  Trends, lead times   
            and forecasting.  41p.                                      
     8/96   Atukorala, Ranjani & King, Maxwell L.  A comparison of the  
            accuracy of asymptotic approximations in the dynamic        
            regression model using Kullback-Leibler in.  16p.           
     9/96   Harris, Mark N., Longmire, Richard J. & Matyas, Laszlo.  The
            robustness of estimators for dynamic panel data models to   
            misspecification.  29p.                                     
     5/96   Kalb, Guyonne.  Using the EM algorithm with complete, but   
            scrambled, data.  41p.                                      
     6/96   Laskar, Mizan R. & King, Maxwell L.  Estimation of          
            regression disturbances based on minimum message length.    
            19p.                                                        



                                                           PAGE  74

     10/96  Maharaj, Anne & Inder, Brett.  A test to compare two related
            stationary time series.  20p.                               
     7/96   Silvapulle, Paramsothy & Evans, Merran.  Testing for serial 
            correlation in the presence of dynamic heteroscedasticity.  
            35p.                                                        
     13/96  Bollen, Bernard & Kofman, Paul.  Estimating daily volatility
            from intraday data.  20p.                                   
     16/96  Fry, Tim R.L. & Sexton, Eileen M.  The stochastic           
            specification of attraction models.  16p.                   
     15/96  Greenan, Nathalie & Mairesse, Jacques.  Computers and       
            productivity in France: some evidence.  55p.                
     14/96  Lee, Michael, et al.  Growth convergence: some panel data   
            evidence.  10p.                                             
     12/96  Ravindiran, T.  Cointegration analysis of purchasing power  
            parity in a small country context.  29p.                    
     11/96  Snyder, Ralph D. & Grose, Simone.  Business forecasting with
            exponential smoothing: computation of prediction intervals. 
            20p.                                                        

     MONASH UNIVERSITY.  Department of Economics.                       

     19/95  Comber, Andrew.  Estimates of the elasticity of substitution
            between imported and domestically produced goods in New     
            Zealand.  31p.                                              
     18/95  Hartley, Peter & Jones, Chris.  Asset demands of            
            heterogeneous consumers with uninsurable idiosyncratic risk.
             39p.                                                       
     20/95  Krueger, Anne O.  Free trade agreements versus customs      
            unions.  29p.                                               
     17/95  Ng, Yew-Kwang.  Neo-neutrality of money under non-perfect   
            competition: why do economists fail to see the possibility?.
             31p.                                                       
     5/96   Bradfield, Michael.  Raising prices when demand is falling: 
            who's kinky now, business or economics?.  10p.              
     4/96   McGeary, Kerry A., Kenkel, Donald S. & Terza, Joseph V.  The
            effect of preventive care on the demand for health services 
            in a developing country.  15p.                              
     3/96   Rice, Robert C.  The urban informal sector: theory,         
            characteristics and growth from 1980-90 with a special      
            emphasis on Indonesia.  24p.                                
     26/95  Boymal, Jonathan.  The economics of alcohol addiction.  20p.
     25/95  Haralambopoulos, Nicholas.  The monetary transmission       
            mechanism.  29p.                                            
     1/96   Ng, Yew-Kwang.  The paradox of interpersonal cardinal       
            utility: a proposed solution.  33p.                         
     2/96   Niehans, Jurg.  Adam Smith and the welfare cost of optimism.
             28p.                                                       
     8/96   Cheng, Wenli & Yang, Xiaokai.  An infra-marginal analysis of
            the Ricardian model.  31p.                                  
     7/96   Denis, Sandra.  Workplace health and safety: some economic  
            implications.  47p.                                         
     6/96   Dowrick, Steve & Quiggin, John.  True measures of GDP and   
            convergence.  35p.                                          
     9/96   Lio, Monchi.  Increasing returns, specialization, and the   
            theory of the allocation of time.  30p.                     



                                                           PAGE  75

     10/96  Lio, Monchi.  Uncertainty, insurance and the division of    
            labor.  13p.                                                

     UNIVERSITE DE MONTREAL.  Departement de Sciences Economiques.      

     9543   Arcand, Jean-Louis, Boulila, Ghazi & Tritten, Christian.    
            Intergenerational contracts, remittances, and growth.  55p. 
     9552   Bai, Jushan & Perron, Pierre.  Estimating and testing linear
            models with multiply structural changes.  56p.              
     9556   Boyer, Marcel & Moreaux, Michel.  Capacity commitment versus
            flexibility: the technological choice nexus in a strategic  
            context.  35p.                                              
     9557   Boyer, Marcel & Laffont, Jean-Jacques.  Environmental       
            protection, producer insolvency and lender liability.  36p. 
     9555   Boyer, Marcel, Mahenc, Philippe & Moreaux, Michel.  Entry   
            blockading locations.  35p.                                 
     9550   Briys, Eric & Viala, Pascale.  Optimal insurance design     
            under background risk.  12p.                                
     9560   Dionne, Georges & Gollier, Christian.  A model of           
            comparative statics for changes in stochastic returns with  
            dependent risky assets.  12p.                               
     9547   Dufour, Jean-Marie & Kiviet, Jan F.  Exact inference methods
            for first-order autoregressive distributed lag models.  50p.
     9553   Grandmont, Renato de Lemos.  Mexico's financial             
            liberalization and reform: a critical overview.  64p.       
     9554   Grandmont, Renato de Lemos.  Multivariate cointegration in a
            the presence of structural breaks: the case of money demand 
            in Mexico.  67p.                                            
     9559   Margolis, David N.  Cohort effects and returns to seniority 
            in France.  27p.                                            
     9558   Montmarquette, Claude, Mahseredjian, Sophie & Houle, Rachel.
             The determinants of university dropouts: a sequential      
            decision model with selectivity bias.  15p.                 
     9551   Ng, Serena & Pinkse, Joris.  Nonparametric two-step         
            estimation of unknown regression functions when the         
            regressors and the regression error are .  20p.             
     9605   Ai, Chunrong, Arcand, Jean-Louis & Ethier, Francois.  Moral 
            hazard and Marshallian inefficiency: evidence from Tunisia. 
            36p.                                                        
     9604   Boyer, Marcel & Laffont, Jean-Jacques.  Toward a political  
            theory of environmental policy.  40p.                       
     9601   Deaton, Angus & Ng, Serena.  Parametric and nonparametric   
            approaches to price and tax reform.  26p.                   
     9610   Dionne, Georges & Mounsif, Tahar.  Investment under demand  
            uncertainty: the newsboy problem revisited.  16p.           
     9608   Fortin, Nicole M. & Lemieux, Thomas.  Labor market          
            institutions and gender differences in wage inequality.     
            11p.                                                        
     9607   Fortin, Nicole M. & Lemieux, Thomas.  Rank regressions, wage
            distributions, and the gender gap.  43p.                    
     9612   Ghysels, Eric & Ng, Serena.  A semi-parametric factor model 
            for interest rates.  27p.                                   
     9613   Ghysels, Eric, Harvey, Andrew & Renault, Eric.  Stochastic  
            volatility.  68p.                                           




                                                           PAGE  76

     9603   Gonzalo, Jesus & Ng, Serena.  A systematic framework for    
            analyzing the dynamic effects of permanent and transitory   
            shocks.  40p.                                               
     9609   Hosken, Daniel S. & Margolis, David N.  The efficiency of   
            collective bargaining in public schools.  52p.              
     9602   Levy-Garboua, Louis & Montmarquette, Claude.  Cognition in  
            seemingly riskless choices and judgements.  27p.            
     9606   Mercenier, Jean & Yeldan, Erinc.  How prescribed policy can 
            mislead when data are defective: a follow-up to Srinivasan  
            (1994) using general equilibri.  27p.                       
     9611   Perron, Pierre & Ng, Serena.  An autoregressive spectral    
            density estimator at frequency zero for nonstationarity     
            tests.  42p.                                                

     UNIVERSITY OF MUNICH.  Center for Economic Studies.                

     87     Bittlingmayer, George.  Output, political uncertainty, and  
            stock market fluctuations: Germany 1890-1940.  19p.         
     86     Blackorby, Charles, Bossert, Walter & Donaldson, David.     
            Intertemporal population ethics: critical level utilitarian 
            principles.  19p.                                           
     84     Choi, Jay Pil.  Preemptive R & D, rent dissipation and the  
            `leverage theory'.  32p.                                    
     88     Erbenova, Michaela & Vagstad, Steinar.  Information rent and
            the holdup problem: is private information prior to         
            investment valuable?.  27p.                                 
     78     Roy, Santanu.  Theory of dynamic portfolio choice for       
            survival under uncertainty.  31p.                           
     83     Sauer, Christine & Scheide, Joachim.  Money, interest rate  
            spreads, and economic activity.  23p.                       
     85     Skaperdas, Stergios & Syropoulos, Constantine.  Competing   
            for claims to property.  39p.                               
     104    Ben-Zion, Uri, Hauser, Shmuel & Lieberman, Offer.  A        
            characterization of the price behavior of international dual
            stocks: an error correction approach.  21p.                 
     108    Blanchflower, David G. & Freeman, Richard B.  Growing into  
            work.  73p.                                                 
     107    Christiansen, Vidar.  Green taxes: a note on the double     
            dividend and the optimum tax rate.  11p.                    
     105    Christofides, Louis N., Stengos, Thanassis & Swidinsky,     
            Robert.  On the calculation of marginal effects in the      
            bivariate probit model.  17p.                               
     106    Koskela, Erkki & Schob, Ronnie.  Alleviating unemployment:  
            the case for green tax reforms.  38p.                       
     102    Sinn, Hans-Werner.  Social insurance, incentives and risk   
            taking.  33p.                                               
     103    Sinn, Hans-Werner.  The subsidiarity principle and market   
            failure in systems competition.  30p.                       
     110    Honkapohja, Seppo & Evans, George W.  Convergence of        
            learning algorithms without a projection facility.  37p.    
     109    Honkapohja, Seppo & Evans, George W.  Economic dynamics with
            learning: new stability results.  36p.                      
     112    Ichino, Andrea, Rustichini, Aldo & Checchi, Daniele.  More  
            equal but less mobile?: Education financing and             
            intergenerational mobility in Italy and in the U.S.  47p.   



                                                           PAGE  77

     89     Kovenock, Dan & Phillips, Gordon M.  Capital structure and  
            product market behavior: an examination of plant exit and   
            investment decisions.  38p.                                 
     111    Lindbeck, Assar.  Incentives in the welfare state.  31p.    
     115    Mayer, Wolfgang.  Gains from restricted openings of trade.  
            27p.                                                        
     82     Musgrave, Richard A.  Public finance and Finanzwissenscaft  
            traditions compared.  46p.                                  
     101    Orosel, Gerhard O. & Schob, Ronnie.  Internalizing          
            externalities in second-best tax systems.  21p.             
     114    Van Long, Ngo & Hartwick, John M.  Constant consumption and 
            the economic depreciation of natural capital: the           
            non-autonomous case.  13p.                                  
     90     Baye, Michael R., Kovenock, Dan & de Vries, Casper.  The    
            all-pay auction with complete information.  21p.            
     94     Fare, Rolf, Grosskopf, Shawna & Roos, Pontus.  The Malmquist
            total factor productivity index: some remarks.  9p.         
     99     Frey, Bruno S.  Institutional economics: what future        
            course?.  21p.                                              
     92     Koskela, Erkki & Stenbacks, Rune.  Does competition make    
            loan markets more fragile?.  27p.                           
     91     Koskela, Erkki & Holm, Pasi.  Tax progression, structure of 
            labour taxation and employment.  25p.                       
     93     Okuguchi, Koji.  Effects of tariff on international mixed   
            duopoly with several markets.  16p.                         
     100    Paelinck, Jean H.P.  Four studies in theoretical spatial    
            economics.  32p.                                            
     95     Schjelderup, Guttorm & Sorgard, Lars.  The multinational    
            firm, transfer pricing and the nature of competition.  28p. 
     96     Schjelderup, Guttorm, Hagen, Kare P. & Osmundsen, Petter.   
            Internationally mobile firms and tax policy.  26p.          
     98     Tawada, Makoto & Shimomura, Koji.  On the Heckscher-Ohlin   
            analysis and the gains from trade with profit maximizing and
            labour managed firms.  19p.                                 
     97     Tawada, Makoto & Yabuuchi, Shigemi.  Trade and gains from   
            trade between profit maximizing and labor managed countries 
            with imperfect competition.  29p.                           

     UNIVERSITAT MUNCHEN.  Volkswirtschaftliche Fakultat.               

     9513   Bauer, Thomas & Zimmermann, Klaus F.  Integrating the east: 
            the labor market effects of immigration.  52p.              
     9516   Bauer, Thomas & Zimmermann, Klaus F.  Network migration of  
            ethnic Germans.  9p.                                        
     9519   Heintel, Markus.  A Bayesian order determination procedure  
            for vector autoregressive processes.  8p.                   
     9517   Hillinger, Claude & Heintel, Markus.  Macroeconomic         
            forecasts of GDP levels and growth rates for the G-7        
            countries.  14p.                                            
     9512   Huber, Bernd.  The role of fiscal integration in a monetary 
            union.  33p.                                                
     9520   Riphahn, Regina T.  Disability retirement among German men  
            in the 1980s.  56p.                                         
     9515   Schlict, Ekkehart.  Hume's counterpoint: a chapter of       
            property.  32p.                                             



                                                           PAGE  78

     9518   Scholten, Ulrich & Thum, Marcel.  Public pension and optimal
            immigration policy.  16p.                                   
     9525   Bauer, Thomas.  The migration decision with uncertain costs.
             29p.                                                       
     9526   Guilkey, David K. & Riphahn, Regina T.  The determinants of 
            child mortality in the Philippines: estimation of a         
            structural model.  42p.                                     
     9524   Haisken-De New, John P. & Zimmermann, Klaus.  Wage and      
            mobility effects of trade and migration.  23p.              
     9601   Rotte, Ralph.  Economics and peace theory on the eve of     
            World War I.  23p.                                          
     9602   Geil, Peter & Rotte, Ralph.  International interventionism  
            1970-1989: a count data approach.  19p.                     
     9604   Wambach, Achim.  Oligopoly and uncertainty.  7p.            
     9606   Weichenrieder, Alfons J.  Fighting international tax        
            avoidance: the case of Germany.  24p.                       
     9603   Weichenreider, Alfons J.  Transfer pricing, double taxation,
            and the cost of capital.  8p.                               

     NATIONAL BUREAU OF ECONOMIC RESEARCH.  Working Papers.             

     5363   Abel, Andrew B. & Eberly, Janice C.  The effects of         
            irreversibility and uncertainty on capital accumulation.    
            42p.                                                        
     5345   Ait-Sahalia, Yacine.  Nonparametric pricing of interest rate
            derivative securities.  43p.                                
     5346   Ait-Sahalia, Yacine.  Testing continuous-time models of the 
            spot interest rate.  40p.                                   
     5351   Ait-Sahalia, Yacine & Lo, Andrew W.  Nonparametric          
            estimation of state-price densities implicit in financial   
            asset prices.  49p.                                         
     5361   Aizenman, Joshua.  Optimal buffer stocks and precautionary  
            savings with disappointment aversion.  24p.                 
     5338   Aizenman, Joshua & Hausman, Ricardo.  The impact of         
            inflation on budgetary discipline.  33p.                    
     5378   Altonji, Joseph G., Hayashi, Fumio & Kotlikoff, Laurence.   
            Parental altruism and inter vivos transfers: theory and     
            evidence.  57p.                                             
     5386   Aizenman, Joshua & Marion, Nancy.  Volatility, investment   
            and disappointment aversion.  23p.                          
     5350   Attanasio, Orazio P., et al.  Humps and bumps in lifetime   
            consumption.  25p.                                          
     5360   Baker, Laurence C.  HMOs and fee-for-service health care    
            expenditures: evidence from Medicare.  47p.                 
     5356   Baker, Laurence C. & Corts, Kenneth S.  The effects of HMOs 
            on conventional insurance premiums: theory and evidence.    
            53p.                                                        
     5364   Baldwin, Richard E., Forslid, Rikard & Haaland, Jan.        
            Investment creation and investment diversion: simulation    
            analysis of the single market programme.  36p.              
     5344   Ball, Laurence & Croushore, Dean.  Expectations and the     
            effects of monetary policy.  32p.                           
     5336   Basu, Susanto.  Procyclical productivity: increasing returns
            or cyclical utilization?.  41p.                             




                                                           PAGE  79

     5366   Biddle, Jeff E. & Hamermesh, Daniel S.  Beauty, productivity
            and discrimination: lawyers' looks and lucre.  43p.         
     5340   Bordo, Michael D.  The gold standard as a `Good Housekeeping
            Seal of Approval'.  37p.                                    
     5371   Bordo, Michael D., Mizrach, Bruce & Schwartz, Anna J.  Real 
            versus pseudo-international systemic risk: some lessons from
            history.  45p.                                              
     5372   Borjas, George J. & Hilton, Lynette.  Immigration and the   
            welfare state: immigrant participation in means-tested      
            entitlement programs.  33p.                                 
     5365   Casella, Alessandra.  Large countries, small countries and  
            the enlargement of trade blocs.  30p.                       
     5374   Chan, Louis K.C. & Lakonishok, Josef.  A cross-market       
            comparison of institutional equity trading costs.  34p.     
     5375   Chan, Louis K.C., Jegadeesh, Narasimhan & Lakonishok, Josef.
             Momentum strategies.  38p.                                 
     5368   Currie, Janet & Ferrie, Joseph.  Strikes and the law in the 
            U.S., 1881-1894: new evidence on the origins of American    
            exceptionalism.  46p.                                       
     5377   Deardorff, Alan V.  Determinants of bilateral trade: does   
            gravity work in a neoclassical world?.  28p.                
     5352   Dooley, Michael P.  A survey of academic literature on      
            controls over international capital transactions.  48p.     
     5347   Dooley, Michael P. & Chinn, Menzie.  Financial repression   
            and capital mobility: why capital flows & covered interest  
            rate differentials fail to measure .  31p.                  
     5376   Elliott, Graham & Ito, Takatoshi.  Heterogeneous            
            expectations and test of efficiency in the yen/dollar       
            forward foreign exchange rate market.  43p.                 
     5379   Estrella, Arturo & Mishkin, Frederic S.  Predicting U.S.    
            recessions: financial variables as leading indicators.  32p.
     5370   Feldstein, Martin & Feenberg, Daniel.  The effect of        
            increased tax rates on taxable income and economic          
            efficiency: a preliminary analysis of the 1993 tax.  39p.   
     5369   Fernandez, Raquel & Rogerson, Richard.  Education finance   
            reform and investment in human capital: lessons from        
            California.  38p.                                           
     5380   Fullerton, Don.  Why have separate environmental taxes?.    
            40p.                                                        
     5337   Gali, Jordi.  Non-Walrasian unemployment fluctuations.  56p.
     5359   Goldbberg, Pinelopi K. & Knetter, Michael M.  Causes and    
            consequences of the export enhancement program for wheat.   
            37p.                                                        
     5348   Griliches, Zvi.  The discovery of the residual: an          
            historical note.  13p.                                      
     5357   Grossman, Herschel I. & Kim, Minseong.  Predation and       
            accumulation.  24p.                                         
     5362   Gustman, Alan L. & Steinmeier, Thomas L.  Privatizing social
            security: first round effects of a generic, voluntary,      
            privatized U.S. social security system.  50p.               
     5341   Hayami, Yujiro & Godo, Yoshihasa.  Economics and politics of
            rice policy in Japan: a perspective on the Uruguay Round.   
            40p.                                                        
     5387   Horrace, William C., Schmidt, Peter & Witte, Ann D..        
            Sampling errors and confidence intervals for order          
            statistics: implementing the Family Support Act.  37p.      


                                                           PAGE  80

     5358   Ito, Takatoshi & Iwaisako, Tokuo.  Explaining asset bubbles 
            in Japan.  60p.                                             
     5383   Jovanovic, Boyan.  Learning and growth.  24p.               
     5354   Joyce, Theodore & Kaestner, Robert.  State reproductive     
            policies and adolescent pregnancy resolution: the case of   
            parental involvement laws.  54p.                            
     5355   Krugman, Paul.  Technology, trade and factor prices.  48p.  
     5349   Levinsohn, James.  Carwars: trying to make sense of         
            U.S.-Japan trade frictions in the automobile and automobile 
            parts markets.  29p.                                        
     5353   Neal, Derek.  The effect of Catholic secondary schooling on 
            education attainment.  49p.                                 
     5384   Novaes, Walter & Zingales, Luigi.  Capital structure choice 
            when managers are in control: entrenchment versus           
            efficiency.  40p.                                           
     5367   Pagano, Marco, Panetta, Fabio & Zingales, Luigi.  Why do    
            companies go public?: an empirical analysis.  60p.          
     5339   Rodrik, Dani.  Trade strategy, investment and exports:      
            another look at East Asia.  40p.                            
     5335   Sinn, Hans-Werner.  Social insurance, incentives and risk   
            taking.  35p.                                               
     5343   Stevens, Ann H.  Long-term effects of job displacement:     
            evidence from the Panel Study of Income Dynamics.  36p.     
     5373   Zucker, Lynne G. & Darby, Michael R.  Social construction of
            trust to protect ideas and data in space science and        
            geophysics.  62p.                                           
     5342   Zucker, Lynne G. & Darby, Michael R.  Virtuous circles of   
            productivity: star bioscientists and the institutional      
            transformation of industry.  37p.                           
     5417   Agenor, Pierre-Richard & Aizenman, Joshua.  Wage dispersion 
            and technical progress.  36p.                               
     5405   Alston, Lee J., Libecap, Gary D. & Schneider, Robert.  The  
            determinants and impact of property rights: land titles on  
            the Brazilian frontier.  56p.                               
     5406   Angrist, Joshua D. & Evans, William N.  Schooling and labor 
            market consequences of the 1970 state abortion reforms.     
            51p.                                                        
     5416   Baldwin, Richard E. & Seghezza, Elena.  Testing for         
            trade-induced investment-led growth.  31p.                  
     5382   Basu, Susanto & Fernald, John G.  Aggregate productivity and
            the productivity of aggregates.  49p.                       
     5401   Bernstein, Jeffrey I. & Yan, Xiaoyi.  International R & D   
            spillovers between Canadian and Japanese industries.  27p.  
     5409   Bhattacharya, Jay, Garber, Alan M. & MaCurdy, Thomas.       
            Cause-specific mortality among Medicare enrollees.  22p.    
     5414   Chari, V.V., Kehoe, Patric J. & McGrattan, Ellen R.  The    
            poverty of nations: a quantitative exploration.  67p.       
     5388   Currie, Janet.  Do children of immigrants make differential 
            use of public health insurance?.  41p.                      
     5393   Davis, Steven J. & Haltiwanger, John.  Employer size and the
            wage structure in U.S. manufacturing.  49p.                 
     5407   Edwards, Sebastian.  Public sector deficits and             
            macroeconomic stability in developing economies.  38p.      
     5394   Engel, Charles.  Accounting for U.S. real exchange rate     
            changes.  53p.                                              



                                                           PAGE  81

     5395   Engel, Charles & Rogers, John H.  Regional patterns in the  
            law of one price: the roles of geography vs. currencies.    
            43p.                                                        
     5408   Favero, Carlo, Giavazzi, Francesco & Spaventa, Luigi.  High 
            yields: the spread on German interest rates.  48p.          
     5424   Feenstra, Robert C. & Hanson, Gordon H.  Globalization,     
            outsourcing, and wage inequality.  11p.                     
     5397   Feldstein, Martin.  The effect of a consumption tax on the  
            rate of interest.  31p.                                     
     5413   Feldstein, Martin.  The missing piece in policy analysis:   
            social security reform.  33p.                               
     5422   Frankel, Jeffrey A.  How well do foreign exchange markets   
            function: might a Tobin tax help?.  57p.                    
     5403   Froot, Kenneth A. & Stein, Jeremy C.  Risk management,      
            capital budgeting and capital structure policy for financial
            institutions: an integrated approach.  37p.                 
     5426   Griliches, Zvi.  Education, human capital, and growth: a    
            personal perspective.  26p.                                 
     5400   Hanson, Gordon H.  The effects of offshore assembly on      
            industry location: evidence from U.S. border cities.  35p.  
     5425   Hanson, Gordon H.  U.S.-Mexico integration and regional     
            economies: evidence from border-city pairs.  34p.           
     5399   Hanushek, Eric A. & Kim, Dongwook.  Schooling, labor force  
            quality, and economic growth.  46p.                         
     5412   Jian, Tianlun, Sachs, Jeffrey D. & Warner, Andrew M.  Trends
            in regional inequality in China.  41p.                      
     5391   Kaplow, Louis.  How tax complexity and enforcement affect   
            the equity and efficiency of the income tax.  26p.          
     5421   Kowalczyk, Carsten & Davis, Donald.  Tariff phase-outs:     
            theory and evidence from GATT and NAFTA.  36p.              
     5415   Krishna, Kala & Thursby, Marie.  Whither flat panel         
            displays?.  41p.                                            
     5402   Lamont, Owen.  Do "shortages" cause inflation?.  26p.       
     5418   Lichtenberg, Frank R.  The effect of pharmaceutical         
            utilization and innovation on hospitalization and mortality.
             29p.                                                       
     5385   Lipsey, Robert E., Blomstrom, Magnus & Ramstetter, Eric.    
            Internationalized production in world output.  112p.        
     5389   Margo, Robert A. & Finegan, T. Aldrich.  Changes in the     
            distribution of wages, 1940-1950: the public vs. the private
            sector.  37p.                                               
     5420   Nechyba, Thomas J.  A computable general equilibrium model  
            of intergovernmental aid.  33p.                             
     5419   Nechyba, Thomas J.  Local property and state income taxes:  
            the role of interjurisdictional competition and collusion.  
            29p.                                                        
     5392   O'Rourke, Kevin H. & Williamson, Jeffrey G.  Around the     
            European periphery 1870-1913: globalization, schooling and  
            growth.  67p.                                               
     5404   Sachs, Jeffrey D.  Reforms in Eastern Europe and the former 
            Soviet Union in light of the East Asian experiences.  71p.  
     5398   Sachs, Jeffrey D. & Warner, Andrew M.  Natural resource     
            abundance and economic growth.  47p.                        
     5411   Sinn, Hans-Werner.  The subsidiarity principle and market   
            failure in systems competition.  30p.                       



                                                           PAGE  82

     5390   Stevens, Ann H.  Climbing out of poverty, fallng back in:   
            measuring the persistence of poverty over multiple spells.  
            56p.                                                        
     5381   Willard, Kristen L., Guinnane, Timothy W. & Rosen, Harvey S.
             Turning points in the Civil War: views from the greenback  
            market.  38p.                                               
     5478   Adams, James & Griliches, Zvi.  Measuring science: an       
            exploration.  34p.                                          
     5479   Ait-Sahalia, Yacine.  Dynamic equilibrium and volatility in 
            financial asset markets.  40p.                              
     5438   Altonji, Joseph G. & Pierret, Charles R.  Employer learning 
            and the signaling value of education.  37p.                 
     5445   Bekaert, Geert & Gray, Stephen F.  Target zones and exchange
            rates: an empirical investigation.  51p.                    
     5439   Bernanke, Ben S. & Carey, Kevin.  Nominal wage stickiness   
            and aggregate supply in the Great Depression.  44p.         
     5475   Blonigen, Bruce A. & Feenstra, Robert C.  Protectionist     
            threats and foreign direct investment.  41p.                
     5482   Bomfin, Antulio N. & Diebold, Francis X.  Bounded           
            rationality and strategic complementarity in a macroeconomic
            model: policy effects, persistence and multipl.  27p.       
     5468   Borenstein, Severin & Shepard, Andrea.  Sticky prices,      
            inventories, and market power in wholesale gasoline markets.
             42p.                                                       
     5454   Borjas, George J., Freeman, Richard B. & Katz, Lawrence F.  
            Searching for the effect of immigration on the labor market.
             12p.                                                       
     5474   Brander, James A. & Taylor, Scott M.  Open access renewable 
            resources: trade and trade policy in a two-country model.   
            31p.                                                        
     5452   Bruno, Michael & Easterly, William.  Inflation's children:  
            tales of crises that beget reforms.  10p.                   
     5455   Buchinsky, Moshe & Hunt, Jennifer.  Wage mobility in the    
            United States.  59p.                                        
     5471   Caballero, Ricardo J. & Hammour, Mohamad L.  The            
            "fundamental transformation" in macroeconomics.  12p.       
     5442   Calomiris, Charles N. & Kahn, Charles M.  The efficiency of 
            self-regulated payments systems: learning from the Suffolk  
            System.  48p.                                               
     5450   Card, David & Krueger, Alan B.  Labor market effects of     
            school quality: theory and evidence.  66p.                  
     5463   Corman, Hope & Mocan, H. Naci.  A time-series analysis of   
            crime and drug use in New York City.  43p.                  
     5429   Costa, Dora L.  Displacing the family: Union Army pensions  
            and elderly living arrangements.  29p.                      
     5481   Diebold, Francis X. & Senjadji, Abdelhak S.  Deterministic  
            vs. stochastic trend in U.S. GNP, yet again.  17p.          
     5456   Di Pasquale, Denise & Glaeser, Edward L.  The L.A. riot and 
            the economics of urban unrest.  38p.                        
     5457   Eaton, Jonathan & Tamura, Akiko.  Japanese and U.S. exports 
            and investment as conduits of growth.  29p.                 
     5462   Fazzari, Steven M., Hubbard, R. Glenn & Petersen, Bruce C.  
            Financing constraints and corporate investment: response to 
            Kaplan and Zingales.  38p.                                  




                                                           PAGE  83

     5469   Feldstein, Martin.  The costs and benefits of going from low
            inflation to price stability.  55p.                         
     5437   Frankel, Jeffrey A. & Rose, Andrew K.  Currency crashes in  
            emerging markets: empirical indicators.  29p.               
     5476   Frankel, Jeffrey A. & Romer, David.  Trade and growth: an   
            empirical investigation.  49p.                              
     5431   Frankel, Jeffreu A., Stein, Ernesto & Wei, Shang-Jin.       
            Regional trading arrangements: natural or supernatural?.    
            14p.                                                        
     5451   Freeman, Richard B.  Why do so many young American men      
            commit crimes and what might we do about it?.  33p.         
     5435   Freeman, Richard B.  Working for nothing: the supply of     
            volunteer labor.  41p.                                      
     5465   Friedman, Benjamin M.  The rise and fall of money growth    
            targets as guidelines for U.S. monetary policy.  31p.       
     5441   Glaeser, Edward L.  The social cost of rent control         
            revisited.  41p.                                            
     5430   Glaeser, Edward L. & Sacerdote, Bruce.  Why is there more   
            crime in cities?.  65p.                                     
     5453   Gorton, Gary & Schmid, Frank A.  Universal banking and the  
            performance of German firms.  73p.                          
     5447   Grossman, Gene M. & Helpman, Elhanan.  Intergenerational    
            redistribution with short-lived governments.  45p.          
     5470   Helliwell, John F.  Economic growth and social capital in   
            Asia.  30p.                                                 
     5458   Ishikawa, Jota & Spencer, Barbara J.  Rent-shifting export  
            subsidies with an imported intermediate product.  38p.      
     5446   Jones, Charles M., Lamont, Owen & Lumsdaine, Robin.  Public 
            information and the persistence of bond market volatility.  
            26p.                                                        
     5480   Ju, Jiandong & Krishna, Kala.  Market access and welfare    
            effects of free trade areas without rules of origin.  25p.  
     5459   Juhn, Chinhui & Murphy, Kevin M.  Wage inequality and family
            labor supply.  42p.                                         
     5434   Kaestner, Robert, Joyce, Theodore & Wehbeh, Hassan.  The    
            effect of maternal drug use on birth weight: measurement    
            error in binary variables.  25p.                            
     5466   Kessler, Daniel P. & McClellan, Mark.  Do doctors practice  
            defensive medicine?.  49p.                                  
     5428   Kremer, Michael.  Integrating behavioral choice into        
            epidemiological models of AIDS.  36p.                       
     5473   Krugman, Paul.  Domestic distortions and the                
            deindustrialization hypothesis.  29p.                       
     5444   Lazear, Edward P.  Incentives in basic research.  45p.      
     5436   Lazear, Edward P. & Freeman, Richard B.  Relational         
            investing: the worker's perspective.  35p.                  
     5427   Leamer, Edward E.  In search of Stolper-Samuelson effects on
            U.S. wages.  70p.                                           
     5448   Leamer, Edward E.  What's the use of factor contents?.  17p.
     5410   Lewis, Karen K.  Consumption, stock returns, and the gains  
            from international risk-sharing.  40p.                      
     5423   Meyer, Bruce D. & Rosenbaum, Dan T.  Repeat use of          
            employment insurance.  31p.                                 
     5467   Milesi-Feretti, Gian Maria & Razin, Assaf.  Sustainability  
            of persistent current account deficits.  31p.               



                                                           PAGE  84

     5464   Mishkin, Frederic S.  The channels of monetary transmission:
            lessons for monetary policy.  27p.                          
     5449   Poterba, James M.  Budget institutions and fiscal policy in 
            the U.S. states.  14p.                                      
     5440   Prusa, Thomas J.  The trade effects of U.S. antidumping     
            actions.  33p.                                              
     5396   Rajan, Raghuram G. & Zingales, Luigi.  The tyranny of the   
            inefficient: an enquiry into the adverse consequences of    
            power struggles.  38p.                                      
     5433   Razin, Assaf & Yuen, Chi-Wa.  Labor mobility and fiscal     
            coordination.  29p.                                         
     5443   Romer, Paul M.  Why, indeed, in America:? theory, history,  
            and the origins of modern economic growth.  13p.            
     5461   Shavell, Steven & Spier, Kathryn.  Threats without binding  
            commitment.  18p.                                           
     5460   Smart, Scott & Waldfogel, Joel.  A citation-based test for  
            discrimination at economics and finance journals.  40p.     
     5472   Spilimbergo, Antonio & Stein, Ernesto.  The welfare         
            implicatons of trading blocs among countries with different 
            endowments.  53p.                                           
     5477   Staiger, Douglas, Stock, James H. & Watson, Mark W.  How    
            precise are estimates of the natural rate of unemployment?. 
            56p.                                                        
     5432   Taylor, Alan M.  On the costs of inward-looking development:
            historical perspectives on price distortions, growth, and   
            divergence in.  42p.                                        
     5493   Abowd, John M. & Allain, Lawrence.  Compensation structure  
            and product market competition.  15p.                       
     5522   Altonji, Joseph G., Hayashi, Fumio & Kotlikoff, Laurence.   
            The effects of income and wealth on time and money transfers
            between parents and children.  60p.                         
     5516   Baldwin, Robert E. & Kimura, Fukunari.  Measuring U.S.      
            international goods and services transactions.  42p.        
     5503   Baily, Martin N., Bartelsman, Eric J. & Haltiwanger, John.  
            Labor productivity: structural change and cyclical dynamics.
             25p.                                                       
     5520   Ball, Laurence.  Disinflation and the non-accelerating      
            inflation rate of unemployment.  34p.                       
     5502   Barro, Robert J.  Reflections on Ricardian equivalence.     
            19p.                                                        
     5497   Bordo, Michael D. & Bayoumi, Tamim.  Getting pegged:        
            comparing the 1879 and 1925 gold resumptions.  46p.         
     5514   Bradford, David F. & Max, Derrick A.  Implicit budget       
            deficits: the case of a mandated shift to community-rated   
            health insurance.  37p.                                     
     5508   Caballero, Ricardo J. & Leahy, John V.  Fixed costs: the    
            demise of marginal q.  19p.                                 
     5487   Card, David, Kramarz, Francis & Lemieux, Thomas.  Changes in
            the relative structure of wages and employment: a comparison
            of the United States, Canada, and France.  52p.             
     5489   Cochrane, John H. & Saa-Requejo, Jesus.  Beyond arbitrage:  
            "good-deal" asset price bounds in incomplete markets.  66p. 
     5486   Cole, Harold L. & Kehoe, Patrick J.  Reputation spillover   
            across relationships: reviving reputation models of debt.   
            23p.                                                        



                                                           PAGE  85

     5525   Cutler, David M. & Madrian, Brigitte C.  Labor market       
            responses to rising health insurance costs: evidence on     
            hours worked.  43p.                                         
     5498   Dasgupta, Sudipto & Titman, Sheridan.  Pricing strategy and 
            financial policy.  50p.                                     
     5500   Dumas, Bernard, Fleming, Jeff & Whaley, Robert E.  Implied  
            volatility functions: empirical tests.  34p.                
     5524   Chaloupka, Frank J., Grossman, Michael & Tauras, John A.    
            Public policy and youth smokeless tobacco use.  26p.        
     5523   Ehrenberg, Ronald G. & Hurst, Peter J.  The 1995 National   
            Research Council ratings of doctoral programs: a hedonic    
            model.  25p.                                                
     5517   Eichengreen, Barry & von Hagen, Jurgen.  Fiscal policy and  
            monetary union: is there a tradeoff between federalism and  
            budgetary restrictions?.  16p.                              
     5515   Feenstra, Robert C.  U.S. imports, 1972-1994: data and      
            concordances.  40p.                                         
     5511   Fullerton, Don.  Second-best pollution taxes.  11p.         
     5519   Gordon, Robert J.  Problems in the measurement and          
            performance of service sector productivity in the United    
            States.  66p.                                               
     5530   Gourinchas, Pierre-Olivier & Tornell, Aaron.  Exchange rate 
            dynamics and learning.  65p.                                
     5510   Irwin, Douglas A. & Kroszner, Randall S.  Log-rolling and   
            economic interests in the passage of the Smoot-Hawley       
            tariff.  34p.                                               
     5509   Irwin, Douglas A.  The Smoot-Hawley tariff: a quantitative  
            assessment.  33p.                                           
     5521   Kaestner, Robert.  Are brothers really better?: sibling sex 
            composition and educational achievement revisited.  34p.    
     5507   King, Robert G. & Wolman, Alexander L.  Inflation targeting 
            in a St. Louis model of the 21st century.  39p.             
     5484   Krishna, Kala & Tan, Ling Hui.  Transferable licenses vs.   
            nontransferable licenses: what is the difference?.  35p.    
     5485   Krueger, Alan B. & Pischke, Jorn-Steffen.  A statistical    
            analysis of crime against foreigners in unified Germany.    
            39p.                                                        
     5499   Lamont, Owen.  Cash flow and investment: evidence from      
            internal capital markets.  45p.                             
     5505   LeBaron, Blake.  Technical trading rule profitability and   
            foreign exchange intervention.  16p.                        
     5494   Lopez-de-Silanes, Florencio.  Determinants of privatization 
            prices.  40p.                                               
     5501   Mairesse, Jacques.  Estimating the productivity of R & D: an
            exploration of GMM methods using data on French & U.S.      
            manufacturing firms.  31p.                                  
     5490   Markusen, James R.  Costly pollution abatement,             
            competitiveness, and plant location decisions.  26p.        
     5483   Markusen, James R. & Venables, Anthony J.  Multinational    
            production, skilled labor, and real wages.  29p.            
     5529   Markusen, James R. & Venables, Anthony J.  The theory of    
            endowment, intra-industry, and multinational trade.  42p.   
     5518   Marston, Richard C.  The effects of industry structure on   
            economic exposure.  25p.                                    




                                                           PAGE  86

     5512   Mitchell, Olivia S. & Zeldes, Stephen P.  Social security   
            privatization: a structure for analysis.  12p.              
     5492   Montgomery, Edward & Navin, John.  Cross-state variation in 
            Medicaid programs and female labor supply.  34p.            
     5504   Mulligan, Casey B. & Sala-i-Martin, Xavier.  Adoption of    
            financial technologies: implications for money demand and   
            monetary policy.  51p.                                      
     5526   Mutti, John & Grubert, Harry.  The significance of          
            international tax rules for sourcing income: the            
            relationship between income tax and trade taxe.  46p.       
     5506   Nadiri, M. Ishaq & Kim, Seongjun.  R & D, production        
            structure and productivity growth: a comparison of the U.S.,
            Japanese & Korean manufacturing sect.  38p.                 
     5513   Razin, Assaf, Sadka, Efraim & Yuen, Chi-Wa.  Tax principles 
            and capital inflows: is it efficient to tax nonresident     
            income?.  40p.                                              
     5496   Stein, Jeremy C.  Rational capital budgeting in an          
            irrational world.  42p.                                     
     5495   Swenson, Deborah L.  Explaining domestic content: evidence  
            from Japanese and U.S. auto production in the U.S.  34p.    
     5531   Wei, Shang-Jin.  Intra-national versus international trade: 
            how stobborn are nations in global integration?.  40p.      
     5491   Williamson, Jeffrey G.  Globalization and inequality then   
            and now: the late 19th and late 20th centuries compared.    
            45p.                                                        
     5551   Abowd, John M., Corbel, Patrick & Kramarz, Francis.  The    
            entry and exit of workers and the growth of employment: an  
            analysis of French establishments.  36p.                    
     5544   Adams, James D. & Jaffe, Adam B.  Bounding the effects of R 
            & D: an investigation using matched establishment firm data.
             39p.                                                       
     5558   Aizenman, Joshua, Gavin, Michael & Hausmann, Ricardo.       
            Optimal tax and debt policy with endogenously imperfect     
            creditworthiness.  38p.                                     
     5556   Alesina, Alberto & Perotti, Roberto.  Budget deficits and   
            budget institutions.  40p.                                  
     5534   Allen, Steven G.  Technology and the wage structure.  42p.  
     5488   Bagwell, Kyle & Staiger, Robert W.  Reciprocal trade        
            liberalization.  50p.                                       
     5549   Baldwin, Richard E. & Forslid, Rikard.  Trade liberalization
            and endogenous growth: a q-theory approach.  27p.           
     5528   Berry, Steven & Waldfogel, Joel.  Free entry and social     
            inefficiency in radio broadcasting.  35p.                   
     5561   Berry, Steven, Carnall, Michael & Spiller, Pablo T.  Airline
            hubs: costs, markups and the implications of customer       
            heterogeneity.  41p.                                        
     5533   Bohn, Henning & Inman, Robert P.  Balanced budget rules and 
            public deficits: evidence from the U.S. states.  80p.       
     5536   Bound, John, Schoenbaum, Michael & Waldmann, Timothy.  Race 
            differences in labor force attachment and disability status.
             32p.                                                       
     5540   Campillo, Marta & Miron, Jeffrey A.  Why does inflation     
            differ across countries?.  36p.                             
     5538   Card, David & Hyslop, Dean.  Does inflation "grease the     
            wheels of the labor market?".  67p.                         



                                                           PAGE  87

     5543   Chaloupka, Frank J. & Laixuthai, Adit.  U.S. trade policy   
            and cigarette smoking in Asia.  20p.                        
     5541   Chari, V.V., Christiano, Lawrence J. & Eichenbaum, Martin.  
            Expectation traps and discretion.  38p.                     
     5564   Deaton, Angus & Ng, Serena.  Parametric and non-parametric  
            approaches to price and tax reform.  25p.                   
     5553   den Haan, Wouter J.  The comovements between real activity  
            and prices at different business cycle frequencies.  52p.   
     5559   Diewert, W. Erwin.  Axiomatic and economic approaches to    
            international comparisons.  81p.                            
     5573   Dornbusch, Rudi.  Debt and monetary policy: the policy      
            issues.  36p.                                               
     5565   Eichengreen, Barry & Irwin, Douglas A.  The role of history 
            in bilateral trade flows.  51p.                             
     5542   Fullerton, Don, McDermott, Shaun P. & Caulkins, Jonathan P. 
            Sulfur dioxide compliance of a regulated utility.  28p.     
     5562   Gaspar, Jess & Glaeser, Edward L.  Information technology   
            and the future of cities.  57p.                             
     5527   Gordon, Roger H. & Nielsen, Soren Bo.  Tax avoidance and    
            value-added vs. income taxation in an open economy.  20p.   
     5547   Hanushek, Eric A. & Rivkin, Steven G.  Understanding the    
            20th century growth in U.S. school spending.  54p.          
     5548   Hanushek, Eric A., Rivkin, Steven C. & Taylor, Lori L.      
            Aggregation and the estimated effects of school resources.  
            45p.                                                        
     5535   Heckman, James J., Smith, Jeffrey A. & Taber, Christopher.  
            What do bureaucrats do?: the effects of performance         
            standards and bureaucratic preferences on acceptance into   
            the J.  25p.                                                
     5560   Higgins, Matthew & Williamson, Jeffrey G.  Asian demography 
            and foreign capital dependence.  65p.                       
     5545   Jaffe, Adam B. & Palmer, Karen.  Environmental regulation   
            and innovation: a panel data study.  40p.                   
     5546   Kiyotaki, Nobuhiro & West, Kenneth D.  Business fixed       
            investment and the recent business cycle in Japan.  50p.    
     5532   Persson, Torsten & Tabellini, Guido.  Monetary cohabitation 
            in Europe.  35p.                                            
     5550   Poterba, James M.  Do budget rules work?.  59p.             
     5537   Rodrik, Dani.  Why do more open economies have bigger       
            governments?.  38p.                                         
     5557   Romer, Christina D. & Romer, David H.  Institutions for     
            monetary stability.  36p.                                   
     5563   Sachs, Jeffrey, Tornell, Aaron & Velasco, Andres.  The      
            Mexican peso crisis: sudden death or death foretold?.  30p. 
     5539   Shiller, Robert J.  Why do people dislike inflation?.  75p. 
     5554   Shleifer, Andrei & Vishny, Robert W.  A survey of corporate 
            governance.  79p.                                           
     5605   Acemoglu, Daron & Pischke, Jorn-Steffen.  Why do firms      
            train?: theory and evidence.  49p.                          
     5574   Bagwell, Kyle & Staiger, Robert W.  Strategic export        
            subsidies and reciprocal trade agreements: the natural      
            monopoly case.  31p.                                        
     5582   Baldwin, Richard E. & Seghezza, Elena.  Trade-induced       
            investment-led growth.  24p.                                




                                                           PAGE  88

     5584   Bebchuk, Lucian A. & Zingales, Luigi.  Corporate ownership  
            structures: private versus social optimality.  35p.         
     5583   Benabou, Roland.  Unequal societies.  34p.                  
     5580   Brown, Chris & Corcoran, Mary.  Sex-based differences in    
            school content and the male/female wage gap.  14p.          
     5587   Campbell, John Y. & Shiller, Robert J.  A scorecard for     
            indexed government debt.  63p.                              
     5572   Case, Anne & Deaton, Angus.  Large cash transfers to the    
            elderly in South Africa.  38p.                              
     5581   Clarida, Richard & Gertler, Mark.  How the Bundesbank       
            conducts monetary policy.  69p.                             
     5591   Cutler, David M.  Public policy for health care.  52p.      
     5604   Daniel, Kent & Titman, Sheridan.  Evidence on the           
            characteristics of cross sectional variation in stock       
            returns.  38p.                                              
     5606   DiNardo, John E. & Pischke, Jorn-Steffen.  The returns to   
            computer use revisited: have pencils changed the wage       
            structure too?.  30p.                                       
     5567   Evans, William N., Farrelly, Matthew D. & Montgomery,       
            Edward.  Do workplace smoking bans reduce smoking?.  50p.   
     5596   Farber, Henry S.  The changing face of job loss in the      
            United States, 1981-1993.  64p.                             
     5594   Fullerton, Don & Wu, Wenbo.  Policies for green design.     
            22p.                                                        
     5595   Fung, K.C.  Accounting for Chinese trade: some national and 
            regional considerations.  55p.                              
     5598   Glaeser, Edward L.  Should transfer payments be indexed to  
            local price levels?.  31p.                                  
     5571   Gokhale, Jagadeesh, Kotlikoff, Laurence J. & Sabelhaus,     
            John.  Understanding the postwar decline in U.S. saving: a  
            cohort analysis.  90p.                                      
     5608   Gruber, Jonathan & Cullen, Julie B.  Spousal labor supply as
            insurance: does unemployment insurance crowd out the added  
            worker effect?.  41p.                                       
     5578   Hamermesh, Daniel S. & Scoones, David.  Multilevel "general
            policy equilibria": evidence from the American unemployment 
            insurance tax ceiling.  30p.                                
     5592   Hanson, Gordon H. & Spilimbergo, Antonio.  Illegal          
            immigration, border enforcement, and relative wages:        
            evidence from apprehensions at the U.S.-Mexico border.  39p.
     5589   Hines, James R.  Tax policy and the activities of           
            multinational corporations.  54p.                           
     5603   Holzer, Harry & Neumark, David.  Are affirmative action     
            hires less qualified?: evidence from employer-employee data 
            on new hires.  44p.                                         
     5569   Hulten, Charles R.  Quality change in capital goods and its 
            impact on economic growth.  46p.                            
     5555   Kaestner, Robert.  Drug use and AFDC participation: is there
            a connection?.  33p.                                        
     5588   Klibanoff, Peter, Lamont, Owen & Wizman, Thierry A.         
            Investor reaction to salient news in closed-end country     
            funds.  38p.                                                
     5566   Kremer, Michael.  How much does sorting increase            
            inequality?.  25p.                                          




                                                           PAGE  89

     5593   Krishna, Kala, Roy, Suddhasatwa & Thursby, Marie.           
            Implementing market access.  36p.                           
     5585   Lafontaine, Francine & Shaw, Kathryn L.  The dynamics of    
            franchise contracting: evidence from panel data.  40p.      
     5601   Lichtenberg, Frank R.  The effect of new political          
            administration on federal government productivity and       
            employment.  14p.                                           
     5597   McCallum, Bennett T.  Crucial issues concerning central bank
            independence.  23p.                                         
     5579   McCallum, Bennett T.  Inflation targeting in Canada, New    
            Zealand, Sweden, the United Kingdom, and in general.  36p.  
     5607   Mankiw, N. Gregory & Poterba, James M.  Stock market yields 
            and the pricing of municipal bonds.  20p.                   
     5600   Mishkin, Frederic S.  Understanding financial crises: a     
            developing country perspective.  49p.                       
     5602   Petersen, Mitchell A. & Rajan, Raghuram G.  Trade credit:   
            theories and evidence.  41p.                                
     5599   Poterba, James M., Venti, Steven F. & Wise, David A.        
            Personal retirement saving programs and asset accumulation: 
            reconciling the evidence.  118p.                            
     5575   Romer, Christina D.  Inflation and the growth rate of       
            output.  39p.                                               
     5570   Ruhm, Christopher J.  Are recessions good for your health?. 
            46p.                                                        
     5576   Sachs, Jeffrey, Tornell, Aaron & Velasco, Andres.  Financial
            crises in emerging markets: the lessons from 1995.  63p.    
     5568   Samwick, Andrew A. & Skinner, Jonathan.  Abandoning the nest
            egg?: 401(k) plans and inadequate pension saving.  38p.     
     5590   Shapiro, Matthew D. & Wilcox, David W.  Mismeasurement in   
            the consumer price index: an evaluation.  71p.              
     5552   Whalley, John.  Why do countries seek regional trade        
            agreements?.  36p.                                          
     5577   Zucker, Lynne G. & Darby, Michael R.  Costly information in 
            firm transformation, exit, or persistent failure.  26p.     
     5621   Addison, John T., Fox, Douglas A. & Ruhm, Christopher J.    
            Trade sensitivity, technology, and labor displacement.  31p.
     5586   Alesina, Alberto, et al.  Budget institutions and fiscal    
            performance in Latin America.  42p.                         
     5614   Alesina, Alberto & Bayoumi, Tamim.  The costs and benefits  
            of fiscal rules: evidence from U.S. states.  14p.           
     5623   Backus, David, Foresi, Silverio & Telmer, Chris.  Affine    
            models of currency pricing.  40p.                           
     5638   Backus, David, Foresi, Silverio & Zin, Stanley.  Arbitrage  
            opportunities in arbitrage-free models of bond pricing.     
            39p.                                                        
     5628   Bayoumi, Tamim, Coe, David T. & Helpman, Elhanan.  R & D    
            spillovers and global growth.  36p.                         
     5613   Brewer, Dominic J., Eide, Eric & Ehrenberg, Ronald G.  Does 
            it pay to attend an elite private college?: cross cohort    
            evidence on the effects of college quality on earning.  21p.
     5610   Campbell, John Y.  Consumption and the stock market:        
            interpreting international experience.  63p.                
     5620   Davis, Donald R.  Does European unemployment prop up        
            American wages?.  32p.                                      




                                                           PAGE  90

     5636   Davis, Donald R.  Technology, unemployment, and relative    
            wages in a global economy.  27p.                            
     5625   Davis, Donald R., et al.  The Heckscher-Ohlin-Vanek model of
            trade: why does it fail?  When does it work?.  50p.         
     5627   Debelle, Guy & Lamont, Owen.  Relative price variability and
            inflation: evidence from U.S. cities.  31p.                 
     5611   De Long, J. Bradford.  Keynesianisn, Penssylvania Avenue    
            style: some economic consequences of the Employment Act of  
            1946.  25p.                                                 
     5622   Dunn, Thomas & Holtz-Eakin, Douglas.  Financial capital,    
            human capital, and the transition to self-employment:       
            evidence from intergenerational links.  30p.                
     5640   Eichner, Matthew J., McClellan, Mark B. & Wise, David A.    
            Insurance or self-insurance?: variation, persistence, and   
            individual health accounts.  53p.                           
     5626   Hellerstein, Judith K., Neumark, David & Troske, Kenneth R. 
            Wages, productivity, and worker characteristics: evidence   
            from plant-level production functions and wage equations.   
            49p.                                                        
     5619   Johnson, Richard W. & Neumark, David.  Age discrimination,  
            job separations, and employment status of older workers:    
            evidence from self-reports.  44p.                           
     5637   Jovanovic, Boyan & Ueda, Masako.  Contracts and money.  26p.
     5635   Laibson, David I.  Hyperbolic discount functions,           
            undersaving and savings policy.  49p.                       
     5616   Lehr, William & Lichtenberg, Frank R.  Computer use and     
            productivity growth in federal government agencies,         
            1987-1992.  32p.                                            
     5615   Levine, Phillip B., et al.  Roe vs. Wade and American       
            fertility.  28p.                                            
     5631   Neumark, David & Wascher, William.  Is the time series      
            evidence on minimum wage effects contaminated by publication
            bias?.  23p.                                                
     5617   Rauch, James E.  Networks versus markets in international   
            trade.  42p.                                                
     5618   Rauch, James E.  Trade and search: social capital, sogo     
            shosha, and spillovers.  25p.                               
     5624   Rotemberg, Julio J.  Perceptions of equity and the          
            distribution of income.  40p.                               
     5639   Shin, Hyun-Han & Stulz, Rene M.  An analysis of divisional  
            investment policies.  35p.                                  
     5609   Venti, Steven F. & Wise, David A.  The wealth of cohorts:   
            retirement saving and the changing assets of older          
            Americans.  73p.                                            
     5612   Weinstein, David E.  Foreign direct investment and keiretsu:
            rethinking U.S. and Japanese policy.  45p.                  
     5702   Anderson, Kym.  Social policy dimensions of economic        
            integration: environmental and labour standards.  56p.      
     5648   Aggarwal, Rajesh & Samwick, Andrew A.  Executive            
            compensation, strategic competition, and relative           
            performance evaluation: theory and evidence.  67p.          
     5694   Alesina, Alberto & Spolaore, Enrico.  International         
            conflict, defense spending, and the size of countries.  54p.
     5678   Alvarez, Fernando & Atkeson, Andrew.  Money and exchange    
            rates in the Grossman-Weiss-Rotemberg model.  37p.          



                                                           PAGE  91

     5698   Barro, Robert J.  Determinants of economic growth: a        
            cross-country empirical study.  116p.                       
     5655   Bayer, Patrick J., Bernheim, B. Douglas & Scholz, John Karl.
             The effects of financial education in the workplace:       
            evidence from a survey of employers.  37p.                  
     5658   Benabou, Roland.  Inequality and growth.  54p.              
     5667   Bernheim, B. Douglas & Garrett, Daniel M.  The determinants 
            and consequences of financial education in the workplace:   
            evidence from a survey of households.  52p.                 
     5666   Bernheim, B. Douglas & Whinston, Michael D.  Exclusive      
            dealing.  45p.                                              
     5664   Blau, Francine D.  Where are we in the economics of gender?:
            the gender pay gap.  33p.                                   
     5652   Bradford, David F. & Logue, Kyle D.  The effects of tax law 
            changes on prices in the property-casualty insurance        
            industry.  78p.                                             
     5685   Bound, John & Holzer, Harry J.  Demand shifts, population   
            adjustments, and labor market outcomes during the 1980s.    
            41p.                                                        
     5676   Canzoneri, Matthew B., Cumby, Robert E. & Diba, Behzad.     
            Relative labor productivity and the real exchange rate in   
            the long run: evidence for a panel of OECD countries.  44p. 
     5687   Card, David.  Deregulation and labor earnings in the airline
            industry.  56p.                                             
     5669   Cawley, John & Philipson, Tomas.  An empirical examination  
            of information barriers to trade in insurance.  53p.        
     5645   Cawley, John, et al.  Measuring the effects of cognitive    
            ability.  46p.                                              
     5703   Christiano, Lawrence J. & Harrison, Sharon G.  Chaos,       
            sunspots, and automatic stabilizers.  64p.                  
     5691   Cooper, Russell & Johri, Alok.  Dynamic complementarities: a
            quantitative analysis.  51p.                                
     5675   Cumby, Robert E.  Forecasting exchange rates and relative   
            prices with the hamburger standard: is what you want what   
            you get with Mcpa.  18p.                                    
     5690   Dominitz, Jeff & Manski, Charles F.  Perceptions of economic
            insecurity: evidence from the Survey of Economic            
            Expectations.  37p.                                         
     5656   Dunne, Timothy, Haltiwanger, John & Troske, Kenneth R.      
            Technology and jobs; secular changes and cyclical dynamics. 
            75p.                                                        
     5681   Eichengreen, Barry, Rose, Andrew K. & Wyplosz, Charles.     
            Contagious currency crises.  48p.                           
     5649   Eisenberg, Theodore & Farber, Henry S.  The litigious       
            plaintiff hypothesis: case selection and resolution.  34p.  
     5646   Engel, Charles.  Long-run purchasing power parity may not   
            hold after all.  49p.                                       
     5700   Frankel, Jeffrey A. & Rose, Andrew K.  The endogeneity of   
            the optimum currency area criteria.  33p.                   
     5647   Gangadharan, Jaisri & Rosenbloom, Joshua L.  The effects of 
            child-bearing on married women's labor supply and earnings: 
            using twin births as a natural experimen.  28p.             
     5673   Goldberg, Pinelopi K.  The effects of the corporate average 
            fuel efficiency standards.  54p.                            




                                                           PAGE  92

     5650   Goldfajn, Ilan & Valdes, Rodrigo O.  The aftermath of       
            appreciations.  52p.                                        
     5657   Goldin, Claudia & Katz, Lawrence F.  The origins of         
            technology-skill complementarity.  38p.                     
     5641   Goulder, Lawrence H., Parry, Ian W.H. & Burtraw, Dallas.    
            Revenue raising vs. other approaches to environmental       
            protection: the critical significance of pre-existing tax   
            dis.  44p.                                                  
     5653   Gropp, Reint, Scholz, John Karl & White, Michelle.  Personal
            bankruptcy and credit supply and demand.  46p.              
     5683   Hassett, Kevin A. & Hubbard, R. Glenn.  Tax policy and      
            investment.  63p.                                           
     5630   Haurin, Donald R., Hendershott, Patric H. & Wachter, Susan  
            M.  Borrowing constraints and the tenure choice of young    
            households.  29p.                                           
     5629   Haurin, Donald R., Hendershott, Patric H. & Wachter, Susan  
            M.  Expected home ownership and real wealth accumulation of 
            youth.  28p.                                                
     5643   Hoynes, Hilary W.  Local labor markets and welfare spells:  
            do demand conditions matter?.  51p.                         
     5644   Hoynes, Hilary W.  Work, welfare, and family structure: what
            have we learned?.  58p.                                     
     5686   Hubbard, R. Glenn & Skinner, Jonathan S.  Assessing the     
            effectiveness of saving incentives.  37p.                   
     5665   Irwin, Douglas A.  Changes in U.S. tariffs: prices or       
            policies?.  28p.                                            
     5651   Jovanovic, Boyan & Nyarko, Yaw.  Stepping stone mobility.   
            39p.                                                        
     5679   Katz, Lawrence F.  Wage subsidies for the disadvantaged.    
            45p.                                                        
     5670   Kimura, Fukunari & Baldwin, Robert E.  Application of       
            nationality-adjusted net sales and value added framework:   
            the case of Japan.  37p.                                    
     5674   Kremer, Michael & Morcom, Charles.  Elephants.  44p.        
     5680   Krishna, Kala & Morgan, John.  Implementing results-oriented
            trade policies: the case of the U.S.-Japanese auto parts    
            dispute.  57p.                                              
     5671   Lamont, Owen.  Earnings and expected returns.  47p.         
     5689   Lanjouw, Jean O. & Lerner, John.  Preliminary injunctive    
            relief: theory and evidence from patent litigation.  42p.   
     5661   La Porta, Rafael, et al.  Law and finance.  79p.            
     5672   Lazear, Edward P.  Performance pay and productivity.  34p.  
     5668   Lichtenberg, Frank & van Pottelsberghe de la Potterie,      
            Bruno.  International R & D spillovers: a re-examination.   
            24p.                                                        
     5697   Matsuyama, Kiminori.  Why are there rich and poor           
            countries?: symmetry-breaking in the world economy.  28p.   
     5663   Morton, Fiona Scott.  Entry and predation: British shiping  
            cartels 1879-1929.  44p.                                    
     5662   Mullin, Joseph C. & Mullin, Wallace P.  U.S. Steel's        
            acquisition of the Great Northern Ore's properties: vertical
            foreclosure or efficient contractual gove.  73p.            
     5642   Nechyba, Thomas J.  Public school finance in a general      
            equilibrium Tiebout world: equalization programs, peer      
            effects and private schoo.  49p.                            



                                                           PAGE  93

     5654   Parsley, David C. & Wei, Shang-Jin.  Convergence to the law 
            of one price without trade barriers of currency             
            fluctuations.  40p.                                         
     5677   Poterba, James M.  Demographic structure and the political  
            economy of public education.  37p.                          
     5692   Romer, Christina D. & Romer, David H.  Federal reserve      
            private information and the behavior of interest rates.     
            51p.                                                        
     5634   Rotemberg, Julio J. & Woodford, Michael.  Imperfect         
            competition and the effects of energy price increases on    
            economic activity.  42p.                                    
     5688   Ruhm, Christopher J.  The economic consequences of parental 
            leave mandates: lessons from Europe.  46p.                  
     5699   Schwartz, Anna J.  From obscurity to notoriety: a biography 
            of the Exchange Stabilization Fund.  36p.                   
     5695   Spencer, Barbara J.  Quota licenses for imported capital    
            equipment: could bureaucrats ever do better than the        
            market?.  38p.                                              
     5660   Woodford, Michael.  Loan commitments and optimal monetary   
            policy.  31p.                                               
     5730   Alesina, Alberto & Perotti, Roberto.  Fiscal adjustments in 
            OECD countries: composition and macroeconomic effects.  46p.
     5752   Andersen, Torben G. & Bollerslev, Tim.  Heterogeneous       
            information arrivals and return volatility dynamics:        
            uncovering the long run in high frequency return.  42p.     
     5748   Apte, Prakash, Servu, Piet & Uppal, Raman.  The equilibrium 
            approach to exchange rates: theory and tests.  42p.         
     5725   Bartolini, Leonardo & Drazen, Allan.  Capital account       
            liberalization as a signal.  38p.                           
     5746   Berry, Steven, Kortum, Samuel & Pakes, Ariel.  Environmental
            change and hedonic cost functions for automobiles.  16p.    
     5747   Black, Stanley W.  Issues in Korean exchange rate policy.   
            26p.                                                        
     5710   Bordo, Michael D. & Schwartz, Anna J.  Why clashes between  
            internal and external stability goals end in currency       
            crises, 1797-1994.  52p.                                    
     5726   Bresnahan, Timothy F., Stern, Scott & Trajtenberg, Manuel.  
            Market segmentation and the sources of rents from           
            innovation: personal computes in the late 1980s.  50p.      
     5701   Card, David & Robins, Philip K.  Do financial incentives    
            encourage welfare recipients to work?: evidence from a      
            randomized evaluation of the Self-Su.  64p.                 
     5708   Card, David & Krueger, Alan.  School resources and student  
            outcomes: an overview of the literature and new evidence    
            from No & So Carolina.  34p.                                
     5740   Chaloupka, Frank J. & Grossman, Michael.  Price, tobacco    
            control policies and youth smoking.  39p.                   
     5709   Chinn, Menzie & Johnston, Louis.  Real exchange rate levels,
            productivity and demand shocks: evidence from a panel of 14 
            countries.  36p.                                            
     5715   Clerides, Sofronis, Lach, Saul & Tybout, James.  Is         
            "learning-by-exporting" important?: microdynamic evidence   
            from Colombia, Mexico and Morocco.  57p.                    
     5737   Cullen, Julie Berry & Levitt, Steven D.  Crime, urban       
            flight, and the consequences for cities.  44p.              



                                                           PAGE  94

     5706   Davis, Donald R. & Weinstein, David E.  Does economic       
            geography matter for international specialization.  61p.    
     5714   Frankel, Jeffrey A. & Schmukler, Sergio L.  Country fund    
            discounts, asymmetric information and the Mexican crisis of 
            1994: did local residents turn pessimistic.  43p.           
     5732   Frankel, Jeffrey A., Romer, David & Cyrus, Teresa.  Trade   
            and growth in East Asian countries: cause and effect?.  39p.
     5721   Gali, Jordi.  Technology, employment, and the business      
            cycle: do technology shocks explain aggregate fluctuations?.
             53p.                                                       
     5705   Gibbons, Robert.  Incentives and careers in organizations.  
            35p.                                                        
     5735   Gordon, Robert J.  The time-varying NAIRU and its           
            implications for economic policy.  52p.                     
     5704   Grossman, Herschel I. & Kim, Minseong.  Inequality,         
            predation and welfare.  23p.                                
     5713   Grossman, Michael, Chaloupka, Frank J. & Brown, Charles C.  
            The demand for cocaine by young adults: a rational addiction
            approach.  61p.                                             
     5738   Gruber, Jonathan.  Cash welfare as a consumption smoothing  
            mechanism for single mothers.  43p.                         
     5729   Hao, Li.  Unraveling in assignment markets.  33p.           
     5722   Harrigan, James.  Technology, factor supplies and           
            international specialization: estimating the neoclassical   
            model.  39p.                                                
     5711   Hovakimian, Armen & Kane, Edward J.  Risk-shifting by       
            federally insured commercial banks.  30p.                   
     5724   Hunt, Jennifer.  Has work sharing worked in Germany?.  37p. 
     5716   Hunt, Jennifer.  The response of wages and actual hours     
            worked to the reduction of standard hours in Germany.  49p. 
     5712   Jaffe, Adam B. & Trajtenberg, Manuel.  Flows of knowledge   
            from universities and federal labs: modeling the flow of    
            patent citations over time and across i.  29p.              
     5718   Kremer, Michael & Maskin, Eric.  Wage inequality and        
            segregation by skill.  61p.                                 
     5723   Kwan, Yum K. & Lui, Francis T.  Hong Kong's currency board  
            and changing monetary regimes.  38p.                        
     5696   Markusen, James R., et al.  A unified treatment of          
            horizontal direct investment, vertical direct investment and
            the pattern of trade in goods a.  36p.                      
     5728   Metrick, Andrew & Zeckhauser, Richard.  Price versus        
            quantity: market clearing mechanisms when sellers differ in 
            quality.  39p.                                              
     5707   Mitchell, Olivia, Olson, Jan & Steinmeier, Thomas.          
            Construction of the Earnings and Benefits File (EBF) for use
            with the Health and Retirement Survey.  56p.                
     5717   Morton, Fiona Scott.  The strategic response by             
            pharmaceutical firms to the Medicaid most favored customer  
            rules.  38p.                                                
     5733   Neumark, David & Gardecki, Rosella.  Women helping women?:  
            role-model and mentoring effects on female Ph.D. students in
            economics.  35p.                                            
     5736   Papke, Leslie E.  Are 401(k) plans replacing other          
            employee-provided pensions?: evidence from panel data.  40p.




                                                           PAGE  95

     5719   Svensson, Lars E.O.  Price-level targeting vs. inflation    
            targeting: a free lunch?.  28p.                             
     5720   Takagi, Shinji.  The Yen and its East Asian neighbors,      
            1980-95: cooperation or competition?.  39p.                 
     5742   Taylor, Alan M.  International capital mobility in history: 
            purchasing power parity in the long run.  41p.              
     5743   Taylor, Alan M.  International capital mobility in history: 
            the saving-investment relationship.  53p.                   
     5684   Woodford, Michael.  Control of the public debt: a           
            requirement for price stability?.  35p.                     
     5783   Andersen, Torben G. & Bollerslev, Tim.  DM-dollar           
            volatility: intraday activity patterns, macroeconomic       
            announcements, and longer run dependencies.  67p.           
     5727   Bartolini, Leonardo & Drazen, Allan.  When liberal policies 
            reflect external shocks, what do we learn?.  36p.           
     5764   Bernanke, Ben S. & Mihov, Ilian.  What does the Bundesbank  
            target?.  50p.                                              
     5781   Bloom, David E., Conrad, Cecilia & Miller, Cynthia.  Child  
            support and fathers' remarriage and fertility.  47p.        
     5754   Bradford, David F.  Fixing capital gains: symmetry,         
            consistency and correctness in the taxation of financial    
            instruments.  80p.                                          
     5757   Caballero, Ricardo J. & Hammour, Mohamad L.  The            
            macroeconomics of specificity.  46p.                        
     5767   Campbell, Jeffrey R. & Fisher, Jonas D.M.  Aggregate        
            employment fluctuations with microeconomic asymmetries.     
            28p.                                                        
     5763   Carliner, Geoffrey.  The wages and language skills of U.S.  
            immigrants.  32p.                                           
     5782   Carlton, Dennis W.  A critical assessment of the role of    
            imperfect competition in macroeconomics.  38p.              
     5788   Carroll, Christopher D.  Buffer-stock saving and the life   
            cycle/permanent income hypothesis.  63p.                    
     5786   Cecchetti, Stephen G.  Measuring short-run inflation for    
            central bankers.  26p.                                      
     5750   Cutler, David M., et al.  Are medical prices declining?.    
            54p.                                                        
     5751   Cutler, David M. & McClellan, Mark.  The determinants of    
            technological change in heart attack treatment.  45p.       
     5775   Davis, Steven J. & Haltiwanger, John.  Driving forces and   
            employment fluctuations.  59p.                              
     5755   Desai, Mihir A. & Hines, James R.  "Basket" cases:          
            international joint ventures after the Tax Reform Act of    
            1986.  41p.                                                 
     5756   Edwards, Sebastian.  The determinants of the choice between 
            fixed and flexible exchange-rate regimes.  24p.             
     5766   Engel, Charles.  A model of foreign exchange rate           
            indetermination.  22p.                                      
     5777   Engel, Charles & Kim, Chang-Jin.  The long-run U.S./U.K.    
            real exchange rate.  37p.                                   
     5759   Engen, Eric M., Gale, William G. & Scholz, John Karl.  The  
            effects of tax-based saving and wealth.  79p.               
     5659   Evans, George, Honkapohja, Seppo & Romer, Paul.  Growth     
            cycles.  49p.                                               




                                                           PAGE  96

     5761   Feldstein, Martin & Samwick, Andrew.  The transition path in
            privatizing social security.  51p.                          
     5789   Flood, Robert P. & Marion, Nancy P.  Speculative attacks:   
            fundmentals and self-fulfilling prophecies.  31p.           
     5739   Gordon, Robert J.  Macroeconomic policy in the presence of  
            structural maladjustment.  57p.                             
     5779   Gorton, Gary & Grundy, Bruce D.  Executive compensation and 
            the optimality of managerial entrenchment.  55p.            
     5770   Greenstein, Shane M. & Spiller, Pablo T.  Estimating the    
            welfare effects of digital infrastructure.  54p.            
     5785   Heckman, James J. & Snyder, James M.  Linear probability    
            models of the demand for attributes with an application to  
            estimating the preferences of legisla.  71p.                
     5773   Helpman, Elhanan & Trajtenberg, Manuel.  Diffusion of       
            general purpose technologies.  42p.                         
     5745   Joskow, Paul L., Schmalensee, Richard & Bailey, Elizabeth M.
             Auction design and the market for sulfur dioxide emissions.
             45p.                                                       
     5776   Kotlkioff, Laurence J.  Simulating the privatization of     
            social security in general equilibrium.  63p.               
     5769   Krueger, Alan B.  Do markets respond more to more reliable  
            labor market data?: a test of market rationality.  27p.     
     5741   Lanjouw, Jean O., Pakes, Ariel & Putnam, Jonathan.  How to  
            count patents and value intellectual property: uses of      
            patent renewal and application data.  31p.                  
     5753   Lerner, Josh.  The government as venture capitalist: the    
            long-run impact of the Small Business Innovation Research   
            program.  43p.                                              
     5731   Lin, Kenneth S.  Private consumption, non-traded goods and  
            real exchange rate: a cointegration Euler equation approach.
             33p.                                                       
     5734   Mitchell, Olivia S.  Administrative costs in public and     
            private retirement systems.  69p.                           
     5774   Moffitt, Robert, Ribar, David & Wilhelm, Mark.  The decline 
            of welfare benefits in the U.S.: the role of wage           
            inequality.  46p.                                           
     5772   Persson, Mats, Persson, Torsten & Svensson, Lars E.O.  Debt,
            cash flow and inflation incentives: a Swedish example.  41p.
     5784   Pesenti, Paolo & van Wincoop, Eric.  Do nontraded goods     
            explain the home bias puzzle?.  33p.                        
     5760   Philipson, Tomas & Becker, Gary S.  Mortality contingent    
            claims, health care, and social insurance.  27p.            
     5762   Poterba, James M. & Wise, David A.  Individual financial    
            decisions in retirement saving plans and the provision of   
            resources for retirement.  53p.                             
     5765   Predergast, Canice & Stole, Lars.  Non-monetary exchange    
            within firms and industry.  27p.                            
     5758   Rajan, Raghuram G. & Zingales, Luigi.  Financial dependence 
            and growth.  46p.                                           
     5780   Sales-Sarrapy, Carlos, Solis-Soberon, Fernando &            
            Villagomez-Amezcua, Alejandro.  Pension system reform: the  
            Mexican case.  70p.                                         
     5749   Wang, Kuo-Kiang & Wu, Chung-Shu.  Exchange rate pass-through
            and industry characteristics: the case of Taiwan's exports  
            of midstream petrochemical pr.  28p.                        



                                                           PAGE  97

     5768   Whalley, John.  Trade and environment beyond Singapore.     
            45p.                                                        
     5787   Wu, Hsiu-Ling.  Testing for the fundamental determinants of 
            the long-run real exchange rate: the case of Taiwan.  29p.  
     5771   Zhang, Zhaoyong.  The exchange value of the Renminbi and    
            China's balance of trade: an empirical study.  26p.         
     5810   Altshuler, Rosanne & Grubert, Harry.  Balance sheets,       
            multinational financial policy, and the cost of capital at  
            home and abroad.  47p.                                      
     5778   Angrist, Joshua D. & Evans, William N.  Children and their  
            parents' labor supply: evidence from exogenous variation in 
            family size.  43p.                                          
     5807   Angrist, Joshua D. & Lavy, Victor.  The effect of teen      
            childbearing and single parenthood on childhood disabilities
            and progress in school.  28p.                               
     5800   Branstetter, Lee.  Are knowledge spillovers international or
            intranational in scope?: microeconometric evidence from the 
            U.S. & Japan.  40p.                                         
     5793   Bryan, Michael F. & Cecchetti, Stephen G.  Inflation and the
            distribution of price changes.  17p.                        
     5809   Chari, V.V., Kehoe, Patrick J. & McGrattan, Ellen R.  Sticky
            price models of the business cycle: can the contract        
            multiplier solve the persistence problem?.  30p.            
     5804   Christiano, Lawrence J., Eichenbaum, Martin & Evans, Charles
            L.  Sticky prices and limited participation models of money:
            a comparison.  57p.                                         
     5805   Currie, Janet & Thomas, Duncan.  Does Head Start help       
            Hispanic children?.  41p.                                   
     5795   Darby, Michael R. & Zucker, Lynne G.  Star scientists,      
            institutions, and the entry of Japanese biotechnology       
            entreprises.  42p.                                          
     5792   den Haan, Wouter J.  Understanding equilibrium models with a
            small and a large number of agents.  43p.                   
     5799   Edey, Malcolm & Simon, John.  Australia's retirement income 
            system implications for saving and capital markets.  35p.   
     5794   Edwards, Sebastian.  A tale of two crises: Chile and Mexico.
             37p.                                                       
     5790   Good, David H., Nadiri, M. Ishaq & Sickles, Robin C.  Index 
            number and factor demand approaches to the estimation of    
            productivity.  88p.                                         
     5803   Leamer, Edward E.  Effort, wages, and the international     
            division of labor.  50p.                                    
     5808   Levinsohn, James.  Firm heterogeneity, jobs, and            
            international trade: evidence from Chile.  30p.             
     5791   Milesi-Ferretti, Gian Maria & Razin, Assaf.  Current account
            sustainability: selected East Asian and Latim American      
            experiences.  61p.                                          
     5801   Nadiri, M. Ishaw & Kim, Seongjun.  International R & D      
            spillovers, trade and productivity in major OECD countries. 
            36p.                                                        
     5802   Prendergast, Canice.  What happens within firms?: a survey  
            of empirical evidence on compensation policies.  35p.       
     5797   Svensson, Lars E.O.  Inflation forecast targeting:          
            implementing and monitoring inflation targets.  37p.        




                                                           PAGE  98

     5798   Taylor, Alan M.  Convergence and international factor flows 
            in theory and history.  35p.                                
     5806   Taylor, Alan M.  Sources of convergence in the late         
            ninteenth century.  31p.                                    

     NATIONAL BUREAU OF ECONOMIC RESEARCH.  Technical Papers.           

     192    Diebold, Francis & Lopez, Jose A.  Forecast evaluation and  
            combination.  47p.                                          
     195    den Haan, Wouter J. & Levin, Andrew.  Inferences from       
            parametric and non-parametric covariance matrix estimation  
            procedures.  42p.                                           
     194    Diebold, Francis X. & Schuermann, Til.  Exact maximum       
            likelihood estimation of observation-driven econometric     
            models.  23p.                                               
     197    den Haan, Wouter J. & Levin, Andrew T.  A practitioner's    
            guide to robust covariance matrix estimation.  56p.         
     203    Durlauf, Steven N.  Statistical mechanics approaches to     
            socioeconomic behavior.  35p.                               
     198    Stock, James H. & Wright, Jonathan.  Asymptotics for GMM    
            estimators with weak instruments.  41p.                     

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

     83     Doran, Howard E. & Rambaldi, Alicia N.  Applying linear     
            time-varying constraints to econometric models: an          
            application of the Kalman filter.  19p.                     
     80     Griffiths, William E. & Valenzuela, M. Rebecca.  Maximum    
            likelihood estimation of household equivalence scales from  
            an extended linear expenditure system: applicati.  29p.     
     82     Rambaldi, Alicia N., Auld, Tony & Baldry, Jonathan.         
            Unemployment, GDP, and crime rate: the short and long-run   
            relationship for the Australian case.  16p.                 
     79     Valenzuela, M. Rebecca.  Engel scales for Australia, the    
            Philippines and Thailand: a comparative analysis.  19p.     
     81     Wan, Alan T.K. & Griffiths, William E.  Bayesian estimation 
            of the linear regression model with an uncertain interval   
            constraint on coefficients.  12p.                           
     85     McConnell, Chai, Rambaldi, Alicia & Fleming, Euan.  New     
            Guinea gold or bust: detection of trends in the quality of  
            coffee exports in Papua New Guinea.  23p.                   
     84     Tessema, Getachew A., Doran, Howard & Griffiths, William.   
            An improved Heckman estimator for the Tobit model.  21p.    
     86     Battese, George E.  On the estimation of production         
            functions involving explanatory variables which have zero   
            values.  6p.                                                
     87     Griffiths, William & Valenzuela, Rebecca.  Bayesian         
            estimation of some Australian ELES-based equivalance scales.
             27p.                                                       
     89     O'Donnell, C.J.  Inefficiency, uncertainty, and the         
            structure of cost, cost-share and input demand functions.   
            15p.                                                        
     88     Rambaldi, Alicia N. & Doran, Howard E.  Testing for Granger 
            non-causality in cointegrated systems made easy.  22p.      




                                                           PAGE  99


     UNIVERSITY OF NEW SOUTH WALES.  School of Economics.               

     9545   Fox, Kevin J.  White noise and other experiments on         
            augmented Dickey-Fuller tests.  38p.                        
     9547   Gans, Joshua S.  Fixed cost assumptions in industrialisation
            theories.  14p.                                             
     9546   Gans, Joshua S.  Industrialisation with specialisation and  
            modernisation: static and dynamic calibrations.  32p.       
     9543   Kemp, Murray C. & Van Long, Ngo.  On the evaluation of      
            social income in a dynamic economy: generalizations.  15p.  
     9544   Kriesler, Peter & Halevi, Joseph.  Asia, Japan and the      
            internationalization of effective demand.  26p.             
     9542   Truong, Cong Nghe & Tran-Nam, Binh.  Perpetual growth in an 
            aggregative model with endogenous human capital             
            accumulation.  30p.                                         
     96-6   Alaouze, Chris M. & Whelan, Stephen P.  Economic efficiency 
            and property rights issues in the management of rural water.
             28p.                                                       
     96-9   Bewley, Ronald & Yang, Minxian.  On the size and power of   
            system tests for cointegration.  19p.                       
     9611   Cumberworth, Matthew & Milbourne, Ross.  Do trading blocs   
            liberalise world trade?.  25p.                              
     96-4   Diewert, W.E.  Sources of bias in consumer price indexes.   
            19p.                                                        
     96-7   Fox, Kevin J.  Measuring technical progress in matching     
            models of the labour market.  15p.                          
     96-1   Fox, Kevin J. & Hill, Robert J.  Improving the sensitivity  
            of data envelopment analysis by reducing dimensionality.    
            14p.                                                        
     96-2   Gans, Joshua S.  Competing for public goods and private     
            business.  19p.                                             
     96-3   Nevile, John W.  What would Keynes have thought of the      
            development of ISLM?.  34p.                                 
     9610   Otto, Glen D. & Voss, Graham M.  Is public capital provision
            efficient?.  25p.                                           
     96-8   Perkins, John & Meredith, David.  Managerial development in 
            retailing: the department and the chain store, 1890-1940.   
            22p.                                                        
     96-5   Voss, Graham M.  Public investment in Canada.  23p.         
     9613   Bradley, Rebecca & Gans, Joshua.  Growth in Australian      
            cities.  25p.                                               
     9612   Crosby, Mark & Otto, Glen.  Inflation and the capital stock.
             38p.                                                       
     9616   Gans, Joshua & Quiggin, John.  Large and small firms.  35p. 
     9614   Perkins, John.  A clash of values: coinage in New Guinea    
            between the world wars.  15p.                               
     9615   Pezanis-Christou, Paul.  Sequential auctions with supply    
            uncertainty.  28p.                                          
     9618   Alaouze, Chris M.  Shadow prices in linear programming      
            problems.  20p.                                             
     9619   Conlon, Robert M. & Perkins, John.  The political economy of
            assistance to the motor vehicle industry in interwar        
            Australia.  45p.                                            




                                                           PAGE 100

     9620   Crosby, Mark.  Central bank independence and output         
            variability.  18p.                                          
     9617   Morrison, Catherine J.  Technology, trade and economic      
            performance in the food industries: the case of U.S. and    
            Australian meat processing.  35p.                           
     9621   Robertson, Peter E.  Growth in developing America: an       
            analysis using a calibrated endogenous growth model.  42p.  
     9622   Warren, Neil.  Australian taxation in the context of our    
            broader economic and trading priorities.  27p.              

     NEW YORK UNIVERSITY.  Center for Applied Economics.                

     9531   Frydman, Roman, Pistor, Katharina & Rapaczynski, Andrezej.  
            Investing in insider-dominated firms: a study of Russian    
            voucher privatization funds.  89p.                          
     9530   Goldberg, Michael D. & Frydman, Roman.  Imperfect knowledge 
            and behaviour in the foreign exchange market.  37p.         
     9532   Merlo, Antonio & Schotter, Andrew.  A surprise-quiz view of 
            learning in economic experiments.  30p.                     
     9533   Mitra, Tapan & Ok, Efe A.  On the measurement of economic   
            poverty.  29p.                                              
     9527   Schotter, Andrew, Snyder, Blaine & Zheng, Wei.  Bargaining  
            through agents: an experimental study of delegation and     
            commitment.  60p.                                           
     9612   Benhabib, Jess & Farmer, Roger E.A.  Indeterminacy and      
            sector-specific externalities.  41p.                        
     9608   Benoit, Jean-Pierre & Krishna, Vijay.  The folk theorems for
            repeated games: a synthesis.  35p.                          
     96-4   Brams, Steven J. & Togman, Jeffrey M.  Camp David: was the  
            agreement fair?.  22p.                                      
     9603   Brams, Steven J. & Togman, Jeffrey M.  The dynamics of the  
            Northern Ireland condition.  13p.                           
     9606   Brams, Steven J. & Taylor, Alan D.  A procedure for divorce 
            settlements.  26p.                                          
     9609   Brams, Steven J., Kilgour, D. Marc & Zwicker, William S.    
            The paradox of multiple elections.  37p.                    
     9610   Denoon, David & Brams, Steven J.  Fair division: a new      
            approach to the Spratly Islands controversy.  41p.          
     9602   Corns, Allan & Schotter, Andrew.  Can affirmative action be 
            cost effective?: an experimental examination of price       
            preference auctions.  40p.                                  
     9605   Fields, Gary S. & Ok, Efe A.  The measurement of income     
            mobility: an introduction to the literature.  40p.          
     9607   Flinn, Christopher J.  On the job search with information   
            obsolescence.  38p.                                         
     9601   Glazer, Jacob & Rubinstein, Ariel.  What motives should     
            guide referees?: on the design of mechanisms to elicit      
            opinions.  23p.                                             
     9611   Nadiri, M. Ishaq & Kim, Seongjun.  R & D, production        
            structure and productivity growth: a comparison of U.S.,    
            Japanese & Korean manufacturing sectors.  38p.              

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

     9521   Cumby, Robert E. & Evans, Martin D.D.  The term structure of
            credit risk: estimates and specification tests.  29p.       


                                                           PAGE 101

     9524   Economides, Nicholas & White, Lawrence J.  Access and       
            intereconnection pricing: how efficient is the "efficient   
            component pricing rule"?.  22p.                             
     9526   Economides, Nicholas & Himmelberg, Charles.  Critical mass  
            and network size with application to the U.S. fax market.   
            38p.                                                        
     9525   Economides, Nicholas & Wildman, Steven S.  Monopolistic     
            competition with two-part tariffs.  27p.                    
     9522   Evans, Martin D.D.  Dividend variability and stock market   
            swings.  44p.                                               
     9527   Nye, Richard B. & Smith, Roy C.  Event investing.  17p.     
     9523   Smith, Roy C. & Walter, Ingo.  Rethinking emerging markets. 
            28p.                                                        
     9528   Chidambaran, N.K. & Figlewski, Stephen.  Streamlining Monte 
            Carlo simulation with the quasi-analytic method: an analysis
            of a path-dependent option strategy.  39p.                  
     9532   Economides, Nicholas.  The incentive of a multiproduct      
            monopolist to provide all goods.  5p.                       
     9533   Economides, Nicholas & Flyer, Frederick.  Technical         
            standards coalition for network goods.  32p.                
     9531   Grilli, Vittorio & Roubini, Nouriel.  Liquidity and exchange
            rates: puzzling evidence from the G-7 countries.  45p.      
     9530   Grilli, Vittorio & Roubini, Nouriel.  Liquidity models in   
            open economies: theory and empirical evidence.  15p.        
     9529   Lopomo, Guiseppe.  Optimality and robustness of the English 
            auction.  43p.                                              
     9618   Allayannis, George & Ofek, Eli.  Exchange rate exposure,    
            hedging, and the use of foreign currency derivatives.  31p. 
     96-6   Altman, Edward I. & Kishore, Vellore.  Recoveries of        
            defaulted bonds: by industry and debt seniority.  21p.      
     96-2   Altman, Edward I. & Kishore, Vellore.  Report on defaults   
            and returns on high yield bonds: analysis through 1995.     
            26p.                                                        
     96-1   Altman, Edward I. & Morris, Anthony C.  Report on the       
            investment performance of defaulted bonds for 1987-1995 and 
            market outlook.  22p.                                       
     9610   Altman, Edward I., Eberhart, Allan C. & Aggarawal, Reena.   
            The equity performance of firms emerging from bankruptcy.   
            30p.                                                        
     9620   Berger, Philip G. & Ofek, Eli.  Causes and effects of       
            corporate refocusing programs.  40p.                        
     9612   Berger, Philip G., Ofek, Eli & Swary, Itzhak.  Investor     
            valuation of the abandonment option.  44p.                  
     9617   Berger, Philip G., Ofek, Eli & Yermack, David L.  Managerial
            entrenchment and capital structure decisions.  35p.         
     96-7   Carpenter, Jennifer N.  The optimal dynamic investment      
            policy for a fund manager compensated with an incentive fee.
             17p.                                                       
     96-8   Carpenter, Jennifer N.  The valuation and exercise of       
            executive stock options.  34p.                              
     9619   Chatterjee, Sris, Dhillon, Upinder S. & Ramirez, Gabriel G. 
            Resolution of financial distress: debt restructuring via    
            Chapter 11, prepackaged bankruptcies, and workouts.  28p.   
     9614   Dhillon, Upinder S., Noe, Thomas & Ramirez, Gabriel G.  Bond
            calls, credible committment, and equity dilution: a         
            theoretical and clinical analysis of simultaneous tender a. 
            40p.                                                        

                                                           PAGE 102

     9611   Dhillon, Upinder S., Noe, Thomas & Ramirez, Gabriel G.      
            Debtor in possession financing and the resolution of        
            uncertainty in Chapter 11 reorganizations.  37p.            
     96-9   Economides, Nicholas & White, Lawrence J.  The inefficiency 
            of the efficient component pricing rule yet again: a reply  
            to Larson.  17p.                                            
     9616   Figlewski, Stephen.  Remembering Fischer Black.  5p.        
     96-5   Ho, T.S., Stapleton, Richard C. & Subrahmanyam, Marti G.    
            The valuation of American options with stochastic interest  
            rates: a generalization of the Geske-Johnson technique.     
            23p.                                                        
     9613   Huang, Jing-Zhi & Yu, G. George.  Pricing and hedging       
            American options: a recursive integration method.  26p.     
     9615   Lynch, Anthony W. & Mendenhall, Richard R.  New evidence on 
            stock price effects associated with changes in the S & P 500
            index.  46p.                                                
     96-4   Subrahmanyam, Marti G.  The term structure of interest      
            rates: alternative approaches and implications for the      
            valuation of contingent claim.  31p.                        
     96-3   White, Lawrence J.  Banking, mergers, and antitrust:        
            historical perspectives, and the research tasks ahead.  16p.
     9634   Altman, Edward I. & Narayanan, Paul.  Business failure      
            classification models: an international survey.  69p.       
     9639   Angbazo, Lazarus & Saunders, Anthony.  The effect of "too   
            big to fail" deregulation on bank cost of funds.  31p.      
     9638   Angbazo, Lazarus, Mei, Jianping & Saunders, Anthony.  Credit
            spreads in the market for highly leveraged transaction      
            loans.  42p.                                                
     9623   Backus, David, Foresi, Silverio & Telmer, Chris.  Affine    
            models of currency pricing.  36p.                           
     9622   Bhabra, Harjeet S., Dhillon, Upinder S. & Ramirez, Gabriel  
            R.  A November effect?: revisting the tax-loss selling      
            hypothesis.  34p.                                           
     9636   Brown, Stephen J. & Pope, Peter F.  Post-earnings           
            announcement drift?.  43p.                                  
     9637   Brown, Stephen, et al.  Rejoinder the J-shape of performance
            persistence given survivorship bias.  11p.                  
     9625   Choi, Jongmoo Jay, Elyasiani, Elyas & Saunders, Anthony.    
            Derivative exposure and the interest rate and exchange rate 
            risks of U.S. banks.  30p.                                  
     9621   Dhillon, Upinder S., Emery, Douglas R. & Ramirez, Gabriel G.
             Capital structure management when firms issue securities.  
            32p.                                                        
     9624   Evans, Martin D.D.  Index-linked debt and the real term     
            structure: new estimates and implication from the U.K. bond 
            market.  49p.                                               
     9628   Fluck, Zsuzsanna.  The optimality of debt versus outside    
            equity.  49p.                                               
     9627   Fluck, Zsuzsanna, John, Kose & Ravid, S. Abraham.           
            Privatizing in stages and the dynamics of ownership         
            structures.  30p.                                           
     9626   Fluck, Zsuzsanna, Johm, Kose & Ravid, S. Abraham.           
            Privatization with political constraints: auctions versus   
            private negotiations.  42p.                                 




                                                           PAGE 103

     9633   Franke, Gunter, Stapleton, Richard C. & Subrahmanyam, Marti 
            G.  The size of background risk and the theory of risk      
            bearing.  24p.                                              
     9632   Franke, Gunter, Stapleton, Richard C. & Subrahmanyam, Marti 
            G.  Who buys and who sells options: the role and pricing of 
            options in an economy with background risk.  33p.           
     9631   Kahan, Marcel & Yermack, David.  Investment opportunities   
            and the design of debt securities.  24p.                    
     9635   Whitelaw, Robert F.  Risk and return: an equilibrium        
            approach.  30p.                                             
     9629   Yermack, David.  Companies' modest claims about the value of
            CEO stock option awards.  32p.                              
     9630   Yermack, David.  Good timing: CEO stock option awards and   
            company news announcements.  44p.                           
     9640   Altman, Edward I. & Saunders, Anthony.  Credit risk         
            measurement: developments over the last 20 years.  38p.     
     9641   Barnea, Emanuel & Landskroner, Yoram.  Interest bearing     
            deposits, the demand for money and the choice of monetary   
            aggregates.  42p.                                           
     9643   Freed, March S., Garcia, Hector & Lerohl, Randi.  Measuring 
            the non-linearity of fixed income securities.  23p.         
     9642   Gao, Bin, Huang, Jing-zhi & Subrahmanyam, Marti G.  An      
            analytical approach to the valuation of American            
            path-dependent options.  41p.                               
     9646   Ho, T.S., Stapleton, Richard C. & Subrahmanyam, Marti G.    
            The valuation of American options with stochastic interest  
            rates: a generalization of the Geske-Johnson technique.     
            23p.                                                        
     9644   Horvitz, Paul M. & White, Lawrence J.  The challenge of the 
            new electronic technologies in banking: private strategies  
            and public policies.  29p.                                  
     9645   White, Lawrence J.  Technological change, financial         
            innovation, and financial regulation in the U.S.: the       
            challenges for public policy.  44p.                         

     NEW YORK UNIVERSITY.  Stern School of Business.                    

     9521   Corsetti, Giancarlo & Roubini, Nouriel.  Politically        
            motivated fiscal deficits: policy issues in closed and open 
            economies.  46p.                                            
     9520   Katz, Barbara G. & Owen, Joel.  Optimal voucher             
            privatization fund bids: when bidding affects firm          
            performance.  27p.                                          
     9519   Wachtel, Paul.  Foreign banking in the Central European     
            economies in transition.  66p.                              
     9601   Easterly, William & Wolf, Holger C.  The wild ride of the   
            ruble.  21p.                                                
     9607   Economides, Nicholas & White, Lawrence J.  The inefficiency 
            of the efficient component pricing rule (ECPR) yet again: a 
            reply to Larson.  17p.                                      
     9602   Ghosh, Atish R. & Wolf, Holger C.  On the mark(s): optimum  
            currency areas in Germany.  21p.                            
     9605   Green, Gordon R.  Market institutions and allocations.  17p.
     9606   White, Lawrence J.  U.S. public policy toward network       
            industries.  53p.                                           



                                                           PAGE 104

     9604   Wolf, Holger C.  Currency baskets as international units of 
            account.  24p.                                              
     9603   Wolf, Holger C.  Savings in Eastern Europe.  22p.           
     9609   Evans, Martin D.D.  Index-linked debt and the real term     
            structure: new estimates and implications from the U.K. bond
            market.  49p.                                               
     9608   Katz, Barbara G. & Owen, Joel.  The investment choices of   
            voucher holders and their impact on privatized firm         
            performance.  37p.                                          
     9610   Ansari, Asim, Economides, Nicholas & Steckel, Joel.  The    
            max-min principle of product differentiation.  38p.         
     9611   Greene, William H.  Marginal effects in the bivariate probit
            model.  6p.                                                 
     9614   Economides, Nicholas, Lopomo, Guiseppe & Woroch, Glenn.     
            Regulatory pricing rules to neutralize network dominance.   
            19p.                                                        
     9615   Katz, Barbara G. & Owen, Joel.  On the desirability of      
            big-bang reforms.  17p.                                     
     9612   White, Lawrence J.  The rise and fall of dominant firms in  
            the U.S. automobile industry: a twice told tale.  38p.      

     UNIVERSITY OF NORTH CAROLINA.  Department of Economics.            

     95-2   Mroz, Thomas A. & Guilkey, David K.  Discrete factor        
            approximations for use in simultaneous equation models with 
            both continuous and discrete endogenous.  54p.              

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

     1140   Al-Najjar, Nabil I.  Factor structures and arbitrage pricing
            in large asset markets.  36p.                               
     1143   Al-Najjar, Nabil I.  Incentive contracts in two-sided moral 
            hazards with multiple agents.  23p.                         
     1142   Barbera, Salvador, Jackson, Matthew O. & Neme, Alejandro.   
            Strategy-proof allotment rules.  20p.                       
     1146   Gilboa, Itzhak & Pazgal, Amit.  History dependent brand     
            switching: theory and evidence.  35p.                       
     1138   Jackson, Matthew & Kalai, Ehud.  Social learning in         
            recurring games.  37p.                                      
     1137   Jones, Michael A.  The classification of continuation       
            probabilities.  12p.                                        
     1136   Jones, Michael A.  Cones of cooperation for indefinitely    
            repeated, generalized prisoner's dilemma games.  17p.       
     1141   Kalai, Ehud.  Games, computers, and operations research.    
            6p.                                                         
     1144   Kalai, Ehud, Lehrer, Ehud & Smorodinsky, Rann.  Calibrated  
            forecasting and merging.  18p.                              
     1145   Miravete, Eugenio J.  Screening consumers through           
            alternative pricing mechanisms.  30p.                       
     1135   Poitevin, Michel.  Contract regulation and organizational   
            design.  49p.                                               
     1139   Shavell, Steven & Spier, Kathryn.  Threats without binding  
            commitment.  15p.                                           
     1147   Pesendorfer, Wolfgang & Swinkels, Jeroen M.  The loser's    
            curse and information aggregation in common value auctions. 
            35p.                                                        


                                                           PAGE 105

     1148   Bagwell, Kyle & Ramey, Garey.  Coordination economies,      
            sequential search and advertising.  51p.                    
     1150   Bagwell, Kyle & Staiger, Robert W.  Reciprocal trade        
            liberalization.  50p.                                       
     1156   Bagwell, Kyle & Staiger, Robert W.  Strategic export        
            subsidies and reciprocal trade agreements: the natural      
            monopoly case.  31p.                                        
     1151   Jackson, Matthew & Kalai, Ehud.  Recurring bullies,         
            trembling and learning.  15p.                               
     1152   Marinacci, Massimo.  Decomposition and representation of    
            coalitional games.  24p.                                    
     1157   Miravette, Eugenio J.  Time-consistent protection of an     
            infant-industry: the symmetric oligopoly case.  24p.        
     1153   Moselle, Boaz.  Efficiency wages and the hours/umemployment 
            trade-off.  28p.                                            
     1154   Myerson, Roger B.  John Nash's contributions to economics.  
            14p.                                                        
     1155   Myerson, Robert B.  Economic analysis of political          
            institutions: an introduction.  31p.                        
     1149   Persico, Nicola.  Information acquisition in affiliated     
            decision problems.  36p.                                    
     1160   Al-Najjar, Nabil.  Aggregation and the law of large numbers 
            in economies with a continuum of agents.  29p.              
     1164   Al-Najjar, Nabil.  On the robustness of factor structures to
            asset repackaging.  15p.                                    
     1165   Bollt, Erik M. & Jones, Michael A.  Developing symbolic     
            dynamics to measure the complexity of repeated game         
            strategies by topological entropy.  19p.                    
     1159   Klibanoff, Peter.  Characterizing uncertainty aversion      
            through preference for mixtures.  17p.                      
     1161   Mailath, George J., Samuelson, Larry & Swinkels, Jeroen M.  
            How proper is sequential equilibrium?.  24p.                
     1162   Myerson, Roger B.  Fundamentals of social choice theory.    
            38p.                                                        
     1158   Sandholm, William H.  Simple and clever decision rules in   
            single population evolutionary models.  22p.                
     1163   Usabiaga, Carlos & Caraballo, M. Angeles.  An analysis of   
            the new Keynesian monopolistic competition model.  19p.     

     NORWEGIAN SCHOOL OF ECONOMICS & BUSINESS ADMINISTRATION.           

     19/95  Hvide, Hans K.  The bounds of bounded rationality: the case 
            of memory loss.  24p.                                       
     17/95  Maestad, Ottar.  On the legitimacy of green trade policy.   
            22p.                                                        
     18/95  Sorgard, Lars.  Judo economics reconsidered: capacity       
            limitation, entry and collusion.  26p.                      
     23/95  Baldwin, Richard E., Forslid, Rikard & Haaland, Jan I.      
            Investment creation and investment diversion: simulation    
            analysis of the single market programme.  35p.              
     22/95  Haaland, Jan I. & Wooton, Ian.  Anti-dumping jumping:       
            reciprocal anti-dumping and industrial location.  20p.      
     20/95  Maestad, Ottar.  Timber trade restrictions: the effect on   
            tropical deforestation.  29p.                               




                                                           PAGE 106

     26/95  Pedersen, Karl R.  Aid and poverty alleviation: some        
            elementary lessons from principal-agent theory.  21p.       
     25/95  Pedersen, Karl R.  Aid, poverty alleviation and incentives. 
            22p.                                                        
     24/95  Pedersen, Karl R.  On the marginal cost of public funds and 
            the value of development aid.  31p.                         
     21/95  Tungodden, Bertil.  Poverty and ethics.  21p.               
     1/96   Bjerksund, Petter & Schjelderup, Guttorm.  Taxing           
            internationally mobile capital: the efficiency-equity       
            trade-off.  22p.                                            
     2/96   Knarvik, Karen H.M. & Tvedt, Jostein.  International trade, 
            technological development and agglomeration.  39p.          
     4/96   Bjorvatn, Kjetil.  City size and economic development.  23p.
     3/96   Bjorvatn, Kjetil.  Industrialization and regional           
            inequality.  28p.                                           
     6/96   Bjorvatn, Kjetil.  Islamic economics in principle and       
            practice.  22p.                                             
     5/96   Bjorvatn, Kjetil.  Rent-seeking and foreign aid.  22p.      
     9/96   Klovland, Jan Tore.  The silver age of manufacturing in     
            Norway: new estimates of the growth in industrial production
            1927-48.  32p.                                              
     8/96   Osmundsen, Petter.  Taxing internationally mobile           
            individuals: a case of countervailing incentives.  28p.     
     7/96   Thorgersen, Oystein.  Intergenerational risk sharing and the
            design of pay-as-you-go pension programs.  6p.              
     12/96  Gabrielsen, Tommy S. & Sorgard, Lars.  The pro-competitive  
            effect of two-part tariffs.  14p.                           
     11/96  Hvide, Hans Krogh.  Delay in joint projects.  14p.          
     13/96  Schroyen, Fred.  Pareto efficient income taxation under     
            costly monitoring.  33p.                                    
     10/96  Steen, Frode & Sorgard, Lars.  Semicollusion in the         
            Norwegian cement market.  36p.                              
     19/96  Kristiansen, Eirik Gaard.  R & D in the presence of network 
            externalities: timing and compatibility.  35p.              
     14/96  Nilssen, Tore & Sorgard, Lars.  Time schedule and programme 
            profile: TV news in Norway and Denmark.  23p.               
     15/96  Osmundsen, Petter.  Risk sharing and incentives in Norwegian
            petroleum extraction.  16p.                                 
     18/96  Sandmo, Agnar.  How far should we go in the redistribution  
            of income?.  16p.                                           
     17/96  Tvedt, Jostein.  The structure of the freight rate: a       
            stochastic partial equilibrium model for the VLCC market.   
            36p.                                                        
     16/96  Tvedt, Jostein.  Valuation of a European option in the      
            BIFFEX market.  11p.                                        

     OHIO STATE UNIVERSITY.  Department of Economics.                   

     9602   Bidarkota, Prasad V. & McCulloch, J. Huston.  State-space   
            modeling with symmetric stable shocks: the case of U.S.     
            inflation.  35p.                                            
     9605   Chen, Jian & Mark, Nelson C.  Alternative long-horizon      
            exchange-rate predictors.  41p.                             
     9507   Glass, Amy & Saggi, Kamal.  Foreign direct investment and   
            the nature of R & D.  39p.                                  



                                                           PAGE 107

     9506   Glass, Amy & Saggi, Kamal.  Intellectual property rights,   
            foreign direct investment, and innovation.  36p.            
     9603   Hai, Weike, Mark, Nelson & Wu, Yangru.  Understanding spot  
            and forward exchange rate regressions.  31p.                
     9601   Hashimoto, Masanori & Zhao, Jingang.  Non-wage              
            compensations, employment, and hours.  37p.                 
     9604   Mark, Melson C. & Choi, Doo-Yull.  Real exchange-rate       
            prediction over long horizons.  35p.                        
     9606   Chen, Jian & Fleisher, Belton M.  Regional income inequality
            and economic growth in China.  31p.                         
     9607   Fleisher, Belton, Dong, Keyong & Liu, Yunhua.  Education,   
            entreprise organization, and productivity in the Chinese    
            paper industry.  29p.                                       
     9608   Fleisher, Belton, Hills, Stephen & Yin, Yong.  The role of  
            housing in labor-market liberalization in China.  16p.      
     9618   Glass, Amy J.  Income distribution and quality improvement. 
            27p.                                                        
     9615   Glass, Amy.  International rivalry in advancing products.   
            24p.                                                        
     9614   Glass, Amy & Saggi, Kamal.  International technology        
            transfer and the technology gap.  30p.                      
     9616   Ichiishi, Tatsuro & Sertel, Murat.  Cooperative interim     
            contract and re-contract in a profit-center game.  25p.     
     9609   Viard, Alan D.  A welfare analysis of differential lump-sum 
            taxation.  34p.                                             
     9617   Zhao, Jingang.  A cooperative analysis of covert collusion  
            in oligopolistic industries: the existence of the alpha     
            core.  25p.                                                 
     9612   Zhao, Jingang.  The core allocation in two sample economies.
             11p.                                                       
     9610   Zhao, Jingang.  The hybrid equilibria and core selection in 
            exchange economies with externalities.  25p.                
     9611   Zhao, Jingang.  A necessary and sufficient condition for the
            convexity in oligopolistic games.  22p.                     
     9613   Zhao, Jingang.  The stability and the formation of coalition
            structures in normal form TU games.  38p.                   
     9621   Campbell, Colin M.  Cheap-talk coordination in dissipative  
            auctions.  46p.                                             
     9620   Campbell, Colin M.  Costly voting, zealots, and the curse of
            a large electorate.  15p.                                   
     9622   Chipty, Tasneem & Snyder, Christopher.  Buyer size and      
            bargaining power.  37p.                                     
     9623   Glass, Amy Jocelyn.  Product cycles and market penetration. 
            32p.                                                        
     9626   Light, Audrey.  Estimating the returns to schooling: when   
            does the career begin?.  28p.                               
     9625   McCulloch, J. Huston.  Linear regression with stable        
            disturbances.  28p.                                         
     9624   Viard, Alan D.  Incidence and asset-pricing effects of      
            realization based capital gains taxes.  24p.                

     OSAKA UNIVERSITY.  Institute of Social and Economic Research.      

     388    Horioka, Charles Y.  Capital gains in Japan: their magnitude
            and impact on consumption.  29p.                            



                                                           PAGE 108

     390    Iritani, Jun & Kuga, Kiyoshi.  Commodity taxation and       
            production efficiency.  17p.                                
     395    Kamiya, Kazuya & Ichimura, Hidehiko.  Nonparametric         
            restrictions of dynamic optiization behavior under risk: the
            case of time-additive expected utility.  26p.               
     389    Lahiri, Sajal & Ono, Yoshiyasu.  Optimal tariffs in the     
            presence of middlemen.  17p.                                
     394    Matsuyama, Toshihiro.  Public and private firms.  20p.      
     391    Ohtake, Fumio & Shintani, Mototsugu.  The effect of         
            demographics on the Japanese housing market.  16p.          
     392    Ohtake, Fumio & Horioka, Charles Y.  Saving motives in      
            Japan.  48p.                                                
     398    Evans, Paul.  Growth and the neutrality of money.  21p.     
     397    Evans, Paul.  Using panel data to evaluate growth theories. 
            19p.                                                        
     402    Horioka, Charles Y., et al.  Do the aged dissave in Japan?: 
            evidence from micro data.  22p.                             
     403    Itoh, Hideshi.  Job design and incentives in hierarchies    
            with team production.  21p.                                 
     401    Punzo, Lionello F.  Industrial dynamics and structural      
            change: a framework for the analysis of sectoral dynamics in
            a set of countries.  39p.                                   
     400    Seko, Miki.  Nonlinear budget constraints and estimation:   
            effects of subsidized home loans on housing decisions in    
            Japan.  26p.                                                
     404    Yoshihara, Naoki.  Natural and double implementation of     
            public ownership solutions in differentiable production     
            economies.  33p.                                            
     410    Ogawa, Kazuo.  How important is land as a production factor 
            for Japanese manufacturing industries?.  21p.               
     409    Ogawa, Kazuo & Suzuki, Kazuyuki.  Demand for bank loans     
            under borrowing constraints: a panel study of Japanese firm 
            data.  31p.                                                 
     408    Ogawa, Kazuo & Suzuki, Kazuyuki.  Land value and corporate  
            investment: evidence from Japanese panel data.  32p.        
     407    Yoshihara, Naoki.  A characterization of natural and double 
            implementation in production economies.  40p.               
     406    Yoshihara, Naoki.  Full characterizations of public         
            ownership solutions.  30p.                                  
     405    Yoshihara, Naoki.  Wealth, exploitation and labor discipline
            in the contemporary capitalist economy.  42p.               
     412    Horioka, Charles Y. & Watanabe, Wako.  Why do people save?: 
            a micro-analysis of motives for household saving in Japan.  
            27p.                                                        
     411    Kidokoro, Yukihiro.  Rate of return regulation and the      
            valuation basis of rate base: the Averch- Johnson effect,   
            the intertemporal rate .  34p.                              
     414    Seko, Miki.  Simultaneous choice of current housing tenure  
            choice and anticipated co-residence with children in Japan. 
            13p.                                                        
     413    Tsuneki, Atsushi.  Potential welfare criteria and the choice
            of large projects.  7p.                                     
     417    Yamada, Hiroshi & Toda, Hiro Y.  Inference in possibly      
            integrated vector autoregressive models: finite sample      
            evidence.  36p.                                             



                                                           PAGE 109

     420    Glass, Amy Jocelyn & Saggi, Kamal.  Foreign direct          
            investment and the nature of R & D.  30p.                   
     421    Hashimoto, Masanori & Zhao, Jingang.  Non-wage              
            compensations, employment, and hours.  40p.                 
     422    Ishiguro, Shingo & Itoh, Hideshi.  Moral hazard and side    
            trade in agency contracts.  27p.                            
     423    Yamada, Hiroshi & Toda, Hiro Y.  A note on hypothesis       
            testing based on dully modified vector autoregression.  16p.
     418    Zhao, Jingang.  A beta core existence result and its        
            application to oligopoly markets.  22p.                     

     UNIVERSITY OF OTTAWA.  Department of Economics.                    

     9509   Corriveau, Louis.  Some propositions on the links between   
            equilibria and other solution concepts in games of strategy.
             21p.                                                       
     9508   Grafton, R. Quentin, Squires, Dale & Fox, Kevin J.  Common  
            resources, private rights and economic efficiency.  27p.    
     9512   Henry, Jacques & Lavoie, Marc.  The Hicksian traverse as a  
            process of reproportioning: a graphical analysis.  28p.     
     9513   Lavoie, Marc.  Horizontalism, structuraliam, liquidity      
            preference and the principle of increasing risk.  33p.      
     9511   Lavoie, Marc.  Loanable funds, endogenous money, and        
            Minsky's financial fragility hypothesis.  20p.              
     9515   Lavoie, Marc.  Pasinetti's vertically hyper-integrated      
            sectors and natural prices.  25p.                           
     9510   Lavoie, Marc.  Traverse hysteresis, and normal rates of     
            capacity utilization in Kaleckian models of growth and      
            distribution.  32p.                                         
     9514   Lavoie, Marc.  Unproductive outlays and capital accumulation
            with target-return pricing.  13p.                           
     9521   Grenier, Gilles.  Les gains des immigrants au Canada:       
            1970-1990.  16p.                                            
     9517   Lavoie, Marc.  The demand for loans creates the supply of   
            deposits: what then is the role of the demand for money?.   
            16p.                                                        
     9516   Lavoie, Marc.  Kaldor's Pasinetti theorem in a monetary     
            framework.  26p.                                            
     9518   Lavoie, Marc.  The neo-Pasinetti theorem in Cambridgian and 
            Kaleckian models of growth and distribution.  23p.          
     9519   Lavoie, Marc.  Real wages, employment structure and the     
            aggregate demand curve in a Kaleckian short-run model.  19p.
     9520   Seccareccia, Mario & Lavoie, Marc.  Central bank austerity  
            policy, zero-inflation targets and productivity growth in   
            Canada.  16p.                                               
     9601   Deriet, Mark & Seccareccia, Mario.  Bank markups,           
            horizontalism & the significance of banks' liquidity        
            preference: an empirical assessment.  23p.                  
     9604   Grafton, R. Quentin & Nelson, Harry W.  Fishers' individual 
            salmon harvesting rights: an option for Canada's pacific    
            fisheries.  27p.                                            
     9602   Seccareccia, Mario.  Early 20th century heterodox monetary  
            thought and the law of entropy.  21p.                       
     9603   Sen, Gautam.  Comparing contemporary Indian economic reform 
            with the developmental experience of China and the Asian    
            NICS.  23p.                                                 


                                                           PAGE 110

     9608   Coulombe, Serge & Day, Kathleen M.  Beta-convergence,       
            sigma-convergence and the stationary-state level of regional
            disparities: the case of Canada.  44p.                      
     9606   Grafton, R. Quentin & Silva-Echenique, J.  How to manage    
            nature?: strategies, predator-prey models and chaos.  33p.  
     9607   Gray, David M.  An `insider-outsider' approach to the       
            political economy of unemployment policy: empirical evidence
            from France.  24p.                                          
     9605   Seccareccia, Mario.  Logical time units and macroeconomic   
            price formation: a possible element of conceptual           
            integration of Keynes's...  38p.                            

     PEKING UNIVERSITY.  China Centre for Economic Research.            

     9601   Lin, Justin Y., Huang, Jikun & Rozelle, Scott.  China's food
            economy: past performance and future's projection.  29p.    
     9504   Zhang, Weiying.  Decision rights, residual claim and        
            performance: a theory of how the Chinese state enterprise   
            reform works.  27p.                                         

     UNIVERSITY OF PENNSYLVANIA.  Center for Analytic Research in Econ. 

     9517   Green, Edward J. & Zhou, Ruilin.  A rudimentary model of    
            search with divisible money and prices.  18p.               
     9518   Kajii, Atsushi & Morris, Stephen.  The robustness of        
            equilibria to incomplete information.  49p.                 
     9516   Mailath, George J., Samuelson, Larry & Shaked, Avner.       
            Correlated equilibria and local iterations.  7p.            
     9602   Ahn, Illtae & Suominen, Matti.  Word-of-mouth communication 
            and community enforcement.  27p.                            
     9520   Citann, Alessandro, Cres, Herve & Villanacc, Antonio.       
            Underemployment of resources and self-confining beliefs.    
            29p.                                                        
     9519   Coate, Stephen & Morris, Stephen.  Policy persistence.  32p.
     9601   Ghiglino, Christian & Tvede, Mich.  Multiplicity of         
            equilibria.  16p.                                           
     9603   Shachmurove, Yochanan.  Dynamic daily returns among Latin   
            Americans and other major world stock markets.  47p.        
     9604   Cole, Harold L., Mailath, George J. & Postlewaite, Andrew.  
            Class sytems and the enforcement of social norms.  22p.     
     9605   Kahl, Matthias.  Dynamic liquidation, adjustment of capital 
            structure, and the costs of financial distress.  38p.       
     9608   Moro, Andrea & Norman, Peter.  Affirmative action in a      
            competitive economy.  43p.                                  
     9606   Morris, Stephen.  Approximate common knowledge revisited.   
            26p.                                                        
     9607   Morris, Stephen & Shin, Hyun Song.  Approximate common      
            knowledge and co-ordination: recent lessons from game       
            theory.  26p.                                               

     UNIVERSITAT POMPEU FABRA.  Economics Working Papers.               

     136    Canova, Fabio & De Nicolo, Gianni.  The equity premium and  
            the risk free rate: a cross country, cross maturity         
            examination.  46p.                                          



                                                           PAGE 111

     135    Canova, Fabio & Ravn, Morten O.  International consumption  
            risk sharing.  34p.                                         
     137    Canova, Fabio & Marcet, Albert.  The poor stay poor:        
            non-convergence across countries and regions.  44p.         
     130    Freixas, Xavier & Rochet, Jean-Charles.  Fair pricing of    
            deposit insurance: Is it possible? Yes. Is it desirable? No.
             17p.                                                       
     132    Garcia-Fontes, Walter & Geuna, Aldo.  The dynamics of       
            research networks in BRITE-EURAM.  24p.                     
     134    Mulligan, Casey B. & Sala-i-Martin, Xavier.  Adoption of    
            financial technologies: implications for money demand and   
            monetary policy.  49p.                                      
     131    Neudecker, Heinz & Satorra, Albert.  The algebraic equality 
            of two asymptotic tests for the hypothesis that a normal    
            distribution has a specified correl.  7p.                   
     129    Saez, Marc.  Option pricing under stochastic volatility and 
            stochastic interest rates in the Spanish case.  49p.        
     138    Shioji, Etsuro.  Regional growth in Japan.  47p.            
     133    Simonoff, Jeffrey S. & Udina, Frederic.  Measuring the      
            stability of histogram appearance when the anchor position  
            is changed.  32p.                                           
     142    Ciccone, Antonio & Matsuyama, Kiminori.  Start-up costs and 
            pecuniary externalities as barriers to economic development.
             35p.                                                       
     141    Dagan, Nir.  Consistent solutions in exchange economies: a  
            characterization of the price mechanism.  17p.              
     145    Marin, Jose M. & Rahi, Rohit.  Information revelation and   
            market incompleteness.  20p.                                
     146    Marin, Jose M. & Oliver, Jacques P.  On the impact of       
            leverage constraints on asset prices and trading volume.    
            48p.                                                        
     147    Motta, Massimo.  Research joint ventures in an international
            economy.  25p.                                              
     140    Pinto, Jose Luis.  Is the person trade-off a valid method   
            for allocating health care resources?: some caveats.  25p.  
     144    Rodriguez Mora, Jose V.  Shared knowledge.  28p.            
     139    Sala-i-Martin, Xavier.  Transfers, social safety nets, and  
            economic growth.  36p.                                      
     143    Shioji, Etsuro.  Regional allocation of skills.  42p.       
     153    Biais, Bruno, Foucault, Thierry & Salanie, Francois.        
            Implicit collusion on wide spreads.  34p.                   
     159    Ciccone, Antonio.  Rapid catch-up, fast convergence, and    
            persistent underdevelopment.  41p.                          
     151    Dagan, Nir.  Consistency and the Walrasian allocations      
            correspondence.  24p.                                       
     152    Dagan, Nir.  Recontracting and competition.  31p.           
     148    Fauli-Oller, Ramon & Motta, Massimo.  Managerial incentives 
            for mergers.  21p.                                          
     150    Fuster, Luisa.  Altruism, uncertain lifetime, and the       
            distribution of wealth.  28p.                               
     154    Gower, John C. & Greenacre, Michael.  Unfolding a symmetric 
            matrix.  32p.                                               
     155    Hurkens, Sjaak & Vulkan, Nir.  Information acquisition and  
            entry.  16p.                                                




                                                           PAGE 112

     156    Marti, Maria Saez.  Boundedly rational credit cycles.  14p. 
     149    Medrano Adan, Luis Angel.  Insider trading and real         
            investment.  39p.                                           
     157    Acemoglu, Daron & Zilibotti, Fabrizio.  Agency costs in the 
            process of development.  39p.                               
     163    Aragones, Enriqueta.  Negativity effect and the emergence of
            ideologies.  27p.                                           
     162    Aragones, Enriqueta & Neeman, Zvika.  Strategic ambiguity in
            electoral competition.  30p.                                
     158    Ciccone, Antonio & Matsuyama, Kiminori.  Efficiency and     
            equilibrium with locally increasing aggregate returns due to
            demand complementarities.  21p.                             
     160    Cuadras-Morato, Xavier & Wright, Randall.  On money as a    
            medium of exchange when goods very by supply and demand.    
            37p.                                                        
     164    Delicado, Pedro & del Rio, Manuel.  Weighted kernel         
            regression.  16p.                                           
     165    Medrano Adan, Luis Angel.  Market versus limit orders in an 
            imperfectly competitive security market.  39p.              
     161    Serrano, Roberto.  A comment on the Nash program and the    
            theory of implementation.  8p.                              

     UNIVERSIDADE CATOLICA PORTUGUESA.  Departamento de Economia.       

     66     Barros, Fatima & Modesto, Leonor.  Foreign direct investment
            vs. exports under asymmetric information.  18p.             
     67     Branco, Fernando.  Procurement favoritism in high           
            technology.  28p.                                           
     64     Hallam, David & Machado, Fernando.  Efficiency analysis with
            panel data.  19p.                                           
     58     Martins, Ana Paula.  Time endowment and labor supply: a     
            technical note.  14p.                                       
     70     Gouveia, Miguel.  The public sector and health care.  35p.  
     69     Gouveia, Miguel & Masia, Neal A.  Does the median voter     
            model explain the size of government?: evidence from the    
            states.  28p.                                               
     49     Braga, Teresa L.  Real wages, employment and endogenous     
            fluctuations.  68p.                                         
     71     Canhoto, Ana.  Technical efficiency in the Portuguese       
            banking sector: a non-parametric approach.  64p.            

     PRINCETON UNIVERSITY.  Industrial Relations Section.               

     353    Berger, Jacqueline.  Were you referred by a man or a woman?:
            gender of contacts and labor market outcomes.  58p.         
     352    Card, David & Riddell, W. Craig.  Unemployment in Canada and
            the United States: a further analysis.  42p.                
     354    Oyer, Paul.  The effect of sales incentives on business     
            seasonality.  56p.                                          
     355    Card, David, Kramarz, Francis & Lemieux, Thomas.  Changes in
            the relative structure of wages and employment: a comparison
            of the U.S., Canada, and France.  59p.                      
     356    Card, David & Hyslop, Dean.  Does inflation "grease the     
            wheels of the labor market?".  55p.                         




                                                           PAGE 113

     357    Card, David & Krueger, Alan B.  Labor market effects of     
            school quality: theory and evidence.  66p.                  
     359    Card, David & Robins, Philip K.  Do financial incentives    
            encourage welfare recipients to work?: early findings from  
            the Canadian self sufficiency pr.  50p.                     
     358    Krueger, Alan B. & Pischke, Jorn-Steffen.  A statistical    
            analysis of crime against foreigners in unified Germany.    
            39p.                                                        
     360    Farber, Henry S.  The changing face of job loss in the      
            United States, 1981-1993.  78p.                             
     361    Shore-Sheppard, Lara D.  Stemming the tide?: the effect of  
            expanding Medicaid eligibility on health insurance coverage.
             66p.                                                       
     362    Krueger, Alan.  Observations on international labor         
            standards and trade.  39p.                                  
     363    Barrow, Lisa.  An analysis of women's labor force           
            participation following first birth.  36p.                  
     364    Eisenberg, Theodore & Farber, Henry S.  The litigious       
            plaintiff hypothesis: case selection and resolution.  34p.  
     365    Ashenfelter, Orley & Rouse, Celia.  Income, schooling, and  
            ability: evidence from a new sample of twins.  30p.         
     366    Card, David & Krueger, Alan.  School resources and student  
            outcomes: an overview of the lierature and new evidence from
            No. & So. Carolina.  37p.                                   
     367    Krueger, Alan B.  Do markets respond more to more reliable  
            labor market data?: a test of market rationality.  22p.     

     PRINCETON UNIVERSITY.  International Finance Section-Essays.       

     198    Eichengreen, Barry.  A more perfect union?: the logic of    
            economic integration.  27p.                                 
     199    Kenen, Peter B., ed.  Making EMU happen: problems and       
            proposals; a symposium.  76p.                               

     PRINCETON UNIVERSITY.  International Finance Section-Studies.      

     79     Deaton, Angus S. & Miller, Ronald I.  International         
            commodity prices, macroeconomic performance, and politics in
            sub-Saharan Africa.  91p.                                   
     80     Kant, Chander.  Foreign direct investment and capital       
            flight.  33p.                                               
     19     Eijffinger, Sylvester C.W & deHaan, Jakob.  The political   
            economy of central bank independence.  77p.                 

     PRINCETON UNIVERSITY.  Woodrow Wilson School-Papers in Economics.  

     179    Dixit, Avinash & Helpman, Elhanan.  Common agency and       
            coordination: general theory and application to tax policy. 
            33p.                                                        
     178    Grossman, Gene M. & Helpman, Elhanan.  Intergenerational    
            redistribution with short-lived governments.  45p.          
     180    Maggi, Giovanni & Rodriquez-Clare, Andres.  The value of    
            trade agreements in the presence of political pressures.    
            31p.                                                        




                                                           PAGE 114

     181    Grossman, Gene M. & Helpman, Elhanan.  Electoral competition
            with policy compromise.  40p.                               
     182    Grossman, Gene M. & Helpman, Elhanan.  Competing for        
            endorsements.  44p.                                         

     PRINCETON UNIVERSITY.  Woodrow Wilson School-Prog. in Development. 

     176    Case, Anne & Deaton, Angus.  Large cash transfers to the    
            elderly in South Africa.  38p.                              

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

     1082   Koksalan, Murat & Rizi, Oya.  A visual interactive approach 
            for multiple criteria decision making with monotone utility 
            functions.  18p.                                            
     1069   Chakravarty, Sugato & McConnell, John J.  An analysis of    
            prices, bid-ask spreads, and bid & ask depth surrounding    
            Ivan Boesky's illegal trading in Carnation'.  24p.          
     1070   McConnell, John J. & Servaes, Henri.  Equity ownership and  
            the two faces of debt.  24p.                                
     1083   Netz, Janet S. & Haveman, Jon D.  All in the family: family,
            income, and labor force attachment.  24p.                   
     1085   Cooper, Arnold C. & Daily, Catherine M.  Entrepreneurial    
            teams.  35p.                                                
     1084   Smith, Keith V.  Asset allocation and investment horizon.   
            28p.                                                        
     1086   Chaturvedi, Alok R. & Gupta, Samir.  Scheduling of          
            transactions in a real-time distributed transaction         
            processing system: scaleability & network issues.  33p.     
     1089   Brush, Thomas H. & Bromiley, Philip.  What does a small     
            corporate effect mean?: a variance components simulation of 
            corporate and business effects.  19p.                       
     1088   Kang, Myong, et al.  The design and implementation of OR/SM:
            a prototype integrated modeling environment.  35p.          
     1090   Matheny, Kenneth J.  Non-neutral responses to money supply  
            shocks when consumption and leisure are Pareto substitutes. 
            28p.                                                        
     1087   Wright, Gordon P., et al.  OR/SM: a prototype integrated    
            modeling environment based on structured modeling.  43p.    

     QUEEN'S UNIVERSITY.  Institute for Economic Research.              

     932    Davidson, Russell & McKinnon, James G.  The size and power  
            of bootstrap tests.  38p.                                   
     929    Francois, Patrick.  A theory of gender discrimination based 
            on the household.  43p.                                     
     931    Gregory, Allan W. & Head, Allen C.  Common and              
            country-specific fluctuations in productivity, investment,  
            and the current account.  33p.                              
     930    Shi, Shouyong.  A divisible search model of fiat money.     
            35p.                                                        
     935    Bergin, James & Bernhardt, Dan.  Industry dynamics over the 
            business cycle.  49p.                                       
     933    Baland, Jean-Marie & Francois, Patrick.  Investment         
            coordination and demand complementarities.  31p.            



                                                           PAGE 115

     934    Jin, Xing & Milne, Frank.  The existence of equilibrium in a
            financial market with transaction costs.  22p.              

     UNIVERSITY OF ROCHESTER.  Center for Economic Research.            

     412    Burnside, A. Craig, Eichenbaum, Martin S. & Rebelo, Sergio  
            T.  Sectoral Solow residuals.  10p.                         
     411    Hanushek, Eric A. & Kim, Dongwook.  Schooling, labor force  
            equality, and economic growth.  38p.                        
     413    Thomson, William.  Axiomatic analyses of bankruptcy and     
            taxation problems: a survey.  45p.                          
     415    Campbell, Jeffrey R. & Kuttner, Kenneth N.  Macroeconomic   
            effects of employment reallocation.  30p.                   
     414    Chari, V.V. & Hopenhayn, Hugo A.  Matching human capital and
            displacement.  22p.                                         
     420    Greenwood, Jeremy, Hercowitz, Zvi & Krusell, Per.  Long-run 
            implications of investment-specific technological change.   
            37p.                                                        
     416    Hodgson, Douglas J.  Robust semiparametric estimation in the
            presence of heterogeneity of unknown form.  37p.            
     419    Leung, Siu Fai & Yu, Shihti.  Collinearity and two-step     
            estimation of sample selection models: problems, origins,   
            and remedies.  29p.                                         
     418    Thomson, William.  Consistent allocation rules.  164p.      
     417    Thomson, William.  Writing papers.  41p.                    
     425    Beladi, Hamid, Jones, Ronald W. & Marjit, Sugata.           
            Technology for sale.  16p.                                  
     428    Bils, Mark & Kahn, James A.  What inventory behavior tell us
            about business cycles.  48p.                                
     424    Hanushek, Eric A.  Assessing the effects of school resources
            on student performance: an update.  38p.                    
     421    Hopenhayn, Hugo A. & Nicolini, Juan Pablo.  Optimal         
            unemployment insurance.  33p.                               
     422    Hopenhayn, Hugo A. & Muniagurria, Maria E.  Policy          
            variability and economic growth.  18p.                      
     426    Maniquet, F.  A strong incompatibility between efficiency   
            and equity in non-convex economies.  11p.                   
     427    Rebelo, Sergio & Xie, Danyang.  On the optimality of        
            interest rate smoothing.  28p.                              
     423    Schummer, James & Thomson, William.  Two derivations of the 
            uniform rule and an application to bankruptcy.  12p.        

     UNIVERSITY OF ROCHESTER.  Wallis Inst. of Political Economy.       

     5      Bird, Edward J.  Does welfare ruin the poor?.  43p.         
     6      Bird, Edward J., Frick, Joachim R. & Wagner, Gert G.  The   
            income of Socialist elites during the transition to         
            capitalism: credible evidence from longitudinal East German.
             28p.                                                       
     7      Bird, Edward J.  Social norms, cultural competition, and    
            welfare reform: scant hope for the collapsing family.  39p. 

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

     34     De Vincenti, Claudio & Mulino, Marcella.  Understanding     
            unemployment dynamics in the transition: the role of        
            aggregate demand and investment.  29p.                      

                                                           PAGE 116


     UNIVERSITY OF SAARLAND.  Department of Economics.                  

     9508   Steunenberg, Bernard, Koboldt, Christian & Schmidtchen,     
            Dieter.  Policymaking, comitology, and the balance of power 
            in the European Union.  35p.                                
     9601   Richter, Rudolf.  Bridging old and new institutional        
            economics: Gustav Schmoller, leader of the younger German   
            historical school, see.  27p.                               
     9509   Rothstein, Roland.  Time series properties and cointegration
            in metals prices.  26p.                                     
     9602   Koboldt, Christian.  Optimising the use of cultural         
            heritage.  23p.                                             
     9512   Ostmann, Axel.  Determining bargaining behavior in          
            three-person characteristic function experiments.  16p.     
     9511   Ostman, Axel.  Water management on the eve of crisis: the   
            case of the Canary Islands.  13p.                           

     SANTA FE INSTITUTE.  Economics Research Program.                   

     95-106 Lane, David & Maxfield, Robert.  Foresight, complexity, and 
            strategy.  22p.                                             
     9613   Shubik, Martin.  Time and money.  23p.                      
     9628   Arthur, W. Brian.  Increasing returns and the two worlds of 
            business.  12p.                                             

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

     9516   Abdel-Latif, Abla M. & Nugent, Jeffrey B.  Export promotion 
            policies: transaction cost and export channel choices in    
            Egypt.  26p.                                                
     9520   Gomez, A. Victor M. & Nugent, Jeffrey B.  Old age security  
            and the roles of children, education, savings and pensions: 
            some findings from rural Costa Rica.  46p.                  
     9514   Kim, Linsu, Yhee, Seung-Jae & Nugent, Jeffrey B.            
            Transaction costs and export channel evaluations by Korean  
            SMEs.  28p.                                                 
     9521   Magill, Michael & Quinzii, Martine.  Which improves welfare 
            more: nominal or indexed bond?.  43p.                       
     9507   Mui, Vai-Lam.  Contracting in the shadows of a corrupt      
            court.  38p.                                                
     9508   Neumeyer, Pablo A.  Currencies and the allocation of risk:  
            the welfare effects of a monetary union.  31p.              
     9513   Nugent, Jeffrey B.  Capital flows to and from the United    
            States: past trends and future prospects.  64p.             
     9517   Nugent, Jeffrey & Sanchez, Nicholas.  The local variability 
            of rainfall and tribal institutions: the case of Sudan.     
            28p.                                                        
     9518   Nugent, Jeffrey & Glezakos, Constantine.  Relative price    
            variability, inflation rate uncertainty and postwar         
            investment of the United States.  14p.                      
     9509   Rosendorff, B. Peter.  Endogenous trade restrictions and    
            domestic political pressure.  28p.                          
     9512   Rosendorff, B. Peter.  Voluntary export restraints,         
            anti-dumping procedure and domestic policies.  46p.         



                                                           PAGE 117

     9511   Rosendorff, B. Peter & Milner, Helen.  Democratic politics  
            and international trade negotiations: elections and divided 
            government as constraints on trade .  45p.                  
     9510   Rosendorff, B. Peter & Milner, Helen.  Trade negotiations,  
            information and domestic politics: the role of domestic     
            groups.  52p.                                               
     9519   Sanchez, Nicholas & Nugent, Jeffrey B.  A proposal for      
            breaking the policy gridlock over grazing and other uses of 
            public lands.  27p.                                         
     9515   Yano, Makoto, Nugent, Jeffrey B. & Lay, Ramsey N.  Aid,     
            non-traded goods and the transfer paradox in small          
            countries.  34p.                                            
     9506   Cason, Timothy N. & Friedman, Daniel.  Price formation in   
            single call markets.  49p.                                  
     9409   Cason, Timothy N. & Davis, Douglas D.  Price communications 
            in a multi-market context: an experimental investigation.   
            35p.                                                        
     9410   Cason, Timothy N. & Friedman, Daniel.  Price discovery in   
            double auction markets.  31p.                               
     9408   Cason, Timothy N. & Mason, Charles F.  Uncertainty,         
            information sharing and collusion in laboratory duopoly     
            models.  49p.                                               
     9407   Easterlin, Richard A.  Industrial Revolution and Mortality  
            Revolution: two of a kind?.  33p.                           

     UNIVERSITY OF STOCKHOLM.  Department of Economics.                 

     95-5   Bohm, Peter.  Laboratory experiments with public goods:     
            misplaced emphasis?.  19p.                                  
     95-4   Lambert-Mogiliansky, Ariane.  Corruption and networks: an   
            example of multi-field contracts.  27p.                     
     96-1   Muren, Astri.  Quantity precommitment in experimental       
            oligopoly markets.  18p.                                    
     96-3   Wijkander, Hans.  A one-period financial contract between a 
            risk-averse wealthy entrepreneur and a risk neutral         
            investor.  16p.                                             
     96-2   Wijkander, Hans.  Public investment under uncertainty: the  
            social rate of discount and timing.  25p.                   

     TEL-AVIV UNIVERSITY.  Foerder Institute of Economic Research.      

     35/95  Ben-David, Dan.  Trade and convergence among countries.     
            32p.                                                        
     36/95  Ben-David, Dan & Papell, David H.  The great wars, the great
            crash and steady state growth: some new evidence about an   
            old stylized fact.  26p.                                    
     32/95  Fershtman, Chaim & Weiss, Yoram.  Social rewards,           
            externalities and stable preferences.  19p.                 
     31/95  Grossman, Gene M. & Helpman, Elhanan.  Rent dissipation,    
            free riding, and trade policy.  12p.                        
     30/95  Helpman, Elhanan.  Politics and trade policy.  34p.         
     34/95  Weiss, Yoram & Gotlibovski, Menachem.  Immigration, search  
            and loss of skill.  52p.                                    
     33/95  Weiss, Yoram & Willis, Robert J.  Match quality, new        
            information and marital dissolution.  58p.                  



                                                           PAGE 118

     29/95  Yashiv, Eran.  The determinants of equilibrium unemployment:
            structural estimation and simulation of the search &        
            matching model.  46p.                                       
     40/95  Ben-David, Dan.  Convergence clubs and diverging economies. 
            23p.                                                        
     41/95  Ben-David, Dan.  Measuring income convergence: an           
            alternative test.  16p.                                     
     42/95  Ben-David, Dan & Bohara, Alok K.  Trade liberalization and  
            income equalization: a long-run perspective.  15p.          
     39/95  Fershtman, Chaim & Gandal, Neil.  The effect of the Arab    
            boycott on Israel: the automobile market.  24p.             
     37/95  Pines, David.  Multiple private goods in clubs and local    
            public good economies: a unified approach.  29p.            
     38/95  Yafeh, Yishay & Yosha, Oved.  The strategic use of          
            relationship banking.  24p.                                 
     43/95  Ben-David, Dan.  Convergence clubs and subsistence          
            economies.  12p.                                            
     45/95  Fershtman, Chaim & de Zeeuw, Aart.  Tradeable emission      
            permits in oligopoly.  36p.                                 
     2/96   Grossman, Gene M. & Helpman, Elhanan.  Intergenerational    
            redistribution with short-lived governments.  43p.          
     44/95  Grossman, Gene M. & Helpman, Elhanan.  Technological        
            determinants of trade.  25p.                                
     1/96   Sulganik, Eyal & Zilcha, Itzhak.  The value of information: 
            the case of signal-dependent opportunity sets.  15p.        
     5/96   Ben-David, Dan & Papell, David H.  Some evidence on the     
            continuity of the growth process among the G7 countries.    
            21p.                                                        
     4/96   Ben-David, Dan & Rahman, Atiqur.  Technological convergence 
            and international trade.  21p.                              
     6/96   Church, Jeffrey & Gandal, Neil.  Systems competition,       
            vertical merger and foreclosure.  40p.                      
     3/96   Glazer, Jacob & Rubinstein, Ariel.  What motives should     
            guide referees?: on the design of mechanisms to elicit      
            opinions.  34p.                                             
     7/96   Lillard, Lee A. & Weiss, Yoram.  Uncertain health and       
            survival: effects on end-of-life consumption.  51p.         
     9/96   Ben-David, Dan & Papell, David H.  Slowdowns and meltdowns: 
            post-war growth evidence from 74 countries.  39p.           
     11/96  Dixit, Avinash, Grossman, Gene M. & Helpman, Elhanan.       
            Common agency and coordination: general theory and          
            application to tax policy.  33p.                            
     12/96  Gandal, Neil & Shy, Oz.  Standardization policy and         
            international trade.  24p.                                  
     10/96  Grossman, Gene M. & Helpman, Elhanan.  Electoral competition
            with policy compromise.  39p.                               
     8/96   Kaminsky, Graciela L. & Leiderman, Leonardo.  High real     
            interest rates in the aftermath of disinflation: is it a    
            lack of credibility?.  26p.                                 
     14/96  Bayoumi, Tamim, Coe, David T. & Helpman, Elhanan.  R & D    
            spillovers and global growth.  35p.                         
     13/96  Galor, Oded & Tsiddon, Daniel.  Technological progress,     
            mobility and economic growth.  37p.                         
     16/96  Leiderman, Leonardo & Bufman, Gil.  Searching for nominal   
            anchors in shock-prone economies in the 1990s: inflation    
            targets and exchange rate bands.  44p.                      


                                                           PAGE 119

     15/96  Fershtman, Chaim, Fishman, Arthur & Simhony, Avi.  Relative 
            price variability, repeat sales and the welfare cost of     
            inflation.  25p.                                            
     26/96  Ber, Hedva, Yafeh, Yishay & Yosha, Oved.  The post-issue    
            performance of IPO firms when banking is concentrated and   
            universal.  40p.                                            
     25/96  Bresnahan, Timothy F., Stern, Scott & Trajtenberg, Manuel.  
            Market segmentation and the sources of rents from           
            innovation: personal computers in the late 1980s.  50p.     
     22/96  Dahan, Momi & Hercowitz, Zvi.  Fiscal policy and saving     
            under distortionary taxation.  25p.                         
     17/96  Fershtman, Chaim & Weiss, Yoram.  Social rewards,           
            externalities and stable preferences.  32p.                 
     21/96  Fershtman, Chaim & Weiss, Yoram.  Why do we care what others
            think about us?.  23p.                                      
     23/96  Frankel, David M.  The (retail) price of inequality.  21p.  
     24/96  Helpman, Elhanan & Trajtenberg, Manuel.  Diffusion of       
            general purpose technologies.  44p.                         
     18/96  Galor, Oded & Tsiddon, Daniel.  The distribution of human   
            capital and economic growth.  38p.                          
     20/96  Morgan, Peter B. & Shy, Oz.  Undercut-proof equilibria.     
            28p.                                                        
     28/96  Sauer, Robert M.  Job mobility and the market for lawyers.  
            48p.                                                        
     19/96  Sorensen, Bent E. & Yosha, Oved.  Income and consumption    
            smoothing among U.S. states: regions or clubs?.  29p.       
     27/96  Zilcha, Itzhak.  Intergenerational transfers, economic      
            growth and income distribution.  30p.                       

     UNIVERSITY OF TOKYO.  Faculty of Economics.                        

     9534   Horiuchi, Akiyoshi.  Financial sector reforms in postwar    
            Japan: an overview.  110p.                                  
     9529   Ihori, Toshihiro.  Public finance in an overlapping         
            generations economy.  227p.                                 
     9532   Ishikawa, Tsuneo.  Growth, human development, and economic  
            policies in Japan, 1955-1993.  69p.                         
     9533   Kubokawa, T. & Srivastava, M.S.  Double shrinkage estimators
            of ratio of variance.  20p.                                 
     9531   Nishimura, Kiyohiko G. & Tsubouchi, Hiroshi.  How much do   
            Japanese buyers pay for distribution service?: a comparative
            study between Japan and the U.S.  28p.                      
     9530   Nishimura, Kiyohiko G. & Inoue, Atsusi.  Labour's share in  
            Japanese manufacturing 1960-1990: "dual structure" and      
            imperfect competition.  31p.                                
     96-2   Fujimoto, Takahiro.  An evolutionary process of Toyota's    
            final asssembly operations: the role of ex-post dynamic     
            capabilities.  43p.                                         
     96-3   Itoh, Motoshige.  Distribution systems and vertical         
            integration: protectionism or normal business practice?.    
            31p.                                                        
     96-4   Kandori, Michihiro.  Evolutionary game theory in economics. 
            50p.                                                        
     9535   Kunitomo, Naoto & Sato, Seisho.  Tables of limiting         
            distributions useful for testing unit roots & cointegration 
            with multiple structural breaks.  52p.                      


                                                           PAGE 120

     96-1   Okuno-Fujiwara, Masahiro.  Toward a comparative             
            institutional analysis of government business relationships.
             35p.                                                       
     96-6   Holtfrerich, Carl L. & Iwami, Toru.  Postwar central banking
            reform: a German-Japanese comparison.  36p.                 
     96-7   Ihori, Toshihiro.  Taxes on capital accumulation and        
            economic growth.  20p.                                      
     9610   Kanemoto, Yoshitsugu.  Housing question in Japan.  50p.     
     96-8   Kanemoto, Yoshitsugu.  On the `lock-in' effects of capital  
            gains taxation.  21p.                                       
     96-9   Kanemoto, Yoshitsugu, Ohkawa, Toru & Suzuki, Tsutomu.       
            Agglomeration economies and a test for optimal city sizes in
            Japan.  29p.                                                
     9611   Kunitomo, Naoto & Sato, Seisho.  Stationary and             
            non-stationary simultaneous switching autoregressive models 
            with application to financial time serie.  37p.             
     96-5   Mochida, Nobuki.  Japan's local allocation tax: an          
            equalization transfer scheme.  35p.                         
     9613   Horiuchi, Akiyoshi & Shimizu, Katsutoshi.  The deterioration
            of banks' balance sheets in Japan: risk-taking and          
            recapitalization.  43p.                                     
     9616   Ihori, Toshihiro & Akai, Nobuo.  The optimal provision of   
            public goods by local and central governments.  19p.        
     9618   Jinno, Naohiko & DeWit, Andrew.  Institutionalism and the   
            intergovernmental allocation of taxes.  19p.                
     9612   Kubokawa, Tatsuya, et al.  Estimation of variance components
            under Kullback-Leibler loss with applications.  28p.        
     9619   Nishino, Haruhisa & Yajima, Yoshihiro.  On parameter        
            estimation of unit roots processes with missing             
            observations.  39p.                                         
     9614   Okazaki, Tetsuji.  The foreign exchange allocation policy in
            post-war Japan: its institutional framework and function.   
            33p.                                                        
     9615   Takemura, Akimichi & Kuriki, Satoshi.  Theory of cross      
            sectionally contoured distributions and its applications.   
            35p.                                                        
     9617   Ueda, Kazuo.  Causes of the Japanese banking instability in 
            the 1990s.  26p.                                            

     UNIVERSITY OF TORONTO.  Department of Economics.                   

     9501   Baker, Michael, Benjamin, Dwayne & Stanger, Shuchita.  The  
            highs and lows of the minimum wage effect: a time-series    
            cross-section study of the Canadian law.  43p.              
     9417   Eswaran, Mukesh & Gallini, Nancy.  The role of patent policy
            in shaping the nature of technological change.  43p.        
     9418   Floyd, John E.  An hypothesis about the interdependence of  
            countries' monetary policies.  28p.                         
     9419   Hamilton, Gillian.  The efficiency of the market for        
            apprentices in North America: contract length and           
            information.  35p.                                          
     9503   Lloyd-Ellis, Huw.  Endogenous technological change and wage 
            inequality in a skill-constrained economy.  37p.            
     9502   Lloyd-Ellis, Huw & Bernhardt, Dan.  Enterprise, inequality  
            and economic development.  52p.                             



                                                           PAGE 121


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

     96-5   Alexander, Cindy R. & Cohen, Mark A.  New evidence on the   
            origins of corporate crime.  21p.                           
     96-7   Alexander, Cindy R. & Cohen, Mark A.  Why do corporations   
            become criminals?: an agency explanation.  33p.             
     96-4   Dunham, Wayne R.  Moral hazard and the market for used      
            automobiles.  20p.                                          
     96-6   Einhorn, Michael A.  INTELSAT: a reform proposal.  13p.     
     96-3   McCabe, Mark J. & Hewlett, James G.  Dynamic behavior of    
            regulated firms: evidence from nuclear utilities.  16p.     
     96-1   Werden, Gregory J.  A robust test for consumer welfare      
            enhancing mergers among sellers of differentiated products. 
            5p.                                                         
     96-2   Werden, Gregory J.  Simulating the effects of differentiated
            products mergers.  19p.                                     

     UNIVERSITA DEGLI STUDI DI VENEZIA.  Dipartimento di Scienze Econ.  

     9603   Cothren, Richard & Parigi, Bruno.  National debt and family 
            size.  13p.                                                 
     9601   De Lotto, Pietro F.  Cooperation vs. competition: the EU    
            generalized system of preferences sensitivity issue.  95p.  
     9604   Luna, Francesco.  Computable learning, neural networks and  
            institutions.  23p.                                         
     9516   Roson, Roberto & van der Bergh, Jeroen.  Network markets for
            composite goods and services: structure and efficiency.     
            19p.                                                        
     9602   Tattara, Giuseppe & Volpe, Mario.  Italy, the fiscal        
            dominance model, and the gold standard age.  35p.           
     9517   Toniolo, Gianni.  Does history have useful economics?:      
            lessons from Europe's golden age (1950-73).  34p.           
     9609   Capdeville, Mario, Cimoli, Mario & Dutrenit, Gabriela.      
            Specialisation and technology in Mexico: a virtual pattern  
            of development and competitiveness?.  37p.                  
     9618   Bardini, Carlo.  Labour productivity in manufacturing: the  
            U.K. and Italy in the 20th century.  17p.                   
     9606   Bertazzon, Stefania.  The Dolomiti superski circuit: a      
            dynamic spatial system.  22p.                               
     9616   Brunello, Giorgio & Medio, Alfredo.  A job competition model
            of workplace training and education.  47p.                  
     9614   Gurisatti, Paolo, Soli, Vladimiro & Tattara, Giuseppe.      
            Patterns of diffusion of new technologies in metal working  
            small firms: the case of an Italian region.  45p.           
     9613   Roson, Roberto.  Network markets and network evolution.     
            14p.                                                        
     9624   Ariga, Kenn, Brunello, Giorgio & Ohkusa, Yasushi.           
            Promotions, skill formation and earnings growth in a        
            corporate hierarchy.  40p.                                  
     9625   Gottardi, Piero & Hens, Thorsten.  Disaggregation of excess 
            demand and comparative statics with incomplete markets and  
            nominal assets.  27p.                                       
     9621   Cazzavillan, Guido & Musu, Ignazio.  A simple model of      
            optimal sustainable growth.  16p.                           



                                                           PAGE 122

     9626   Brunello, Giorgio & Ishikawa, Tsuneo.  Education, training  
            and labour market structure: Italy and Japan in comparative 
            perspective.  61p.                                          
     9627   Luna, Francesco.  The emergence of a firm as a complex      
            problem solver.  22p.                                       

     UNIVERSITY OF VICTORIA (BC).  Department of Economics.             

     9601   Engineer, Merwan.  Transaction costs and competing          
            currencies.  26p.                                           
     9603   Engineer, Merwan & Shi, Shouyong.  Bargaining-induced       
            transaction demand for fiat money.  39p.                    
     9602   Engineer, Merwan, Esteban, Joan & Sakovics, Jozsef.  Costly 
            transfer institutions and the core in an overlapping        
            generations model.  16p.                                    
     9604   Giles, David E.A.  Causality between the measured and       
            underground economies in New Zealand.  11p.                 
     9607   Giles, David E.A.  The hidden economy and tax evasion       
            prosecutions in New Zealand.  14p.                          
     9605   Oum, Rae Hoon, Park, Jong-Hun & Zhang, Anming.  The effects 
            of airline codesharing agreements on firm conduct and       
            international air fares.  23p.                              
     9606   Zhang, Anming.  An analysis of fortress hubs in airline     
            networks.  23p.                                             
     9608   Giles, David E.A & Keil, Andrea S.  Applying the RESET test 
            in allocation models: a cautionary note.  15p.              
     9609   Giles, Judith A., Giles, David E.A. & Ohtani, Kazuhiro.  The
            exact risks of some pre-test and Stein-type regression      
            estimators under balanced loss.  25p.                       
     95-1   Kennedy, Peter W. & Laplante, Benoit.  Equilibrium          
            incentives for cleaner technology adoption under emissions  
            pricing.  40p.                                              
     9506   Oum, Tae Hoon, Zhang, Anming & Zhang, Yimin.  Capital       
            structure and socially optimal capacity in oligopoly: the   
            case of the airline industry.  28p.                         
     9610   Giles, David E.A.  Testing for asymmetry in the measured and
            underground business cycles in New Zealand.  23p.           
     9611   Mosk, Carl.  Cities on the sea: communication and           
            concentration in modern Japan.  54p.                        
     9612   DeBenedictis, Linda F. & Giles, David E.A.  Diagnostic      
            testing in econometrics: variable addition, reset, and      
            Fourier approximations.  63p.                               

     UNIVERSITY OF VIENNA.  Department of Economics.                    

     9505   Kirchsteiger, Georg & Puppe, Clemens.  On the formation of  
            political coalitions.  25p.                                 
     9504   Nehring, Klaus & Puppe, Clemens.  A qualitative theory of   
            "Preference for opportunities and diversity".  38p.         
     9506   Sorger, Gerhard.  Imperfect competition and capital         
            accumulation: the role of price normalization.  20p.        
     9601   Kerschbamer, Rudolf.  Disciplinary takeovers and industry   
            effects.  43p.                                              
     9602   Kerschbamer, Rudolf.  Information revelation via takeovers  
            in correlated environments.  9p.                            



                                                           PAGE 123

     9507   Guth, Werner, Kirchsteiger, Georg & Ritzberger, Klaus.      
            Imperfectly observable commitments in n-player games.  19p. 
     9603   Podczeck, Konrad.  Markets with infinitely many commodities 
            and a continuum of agents with non-convex preferences.  45p.
     9604   Bell, Clive & Clemenz, Gerhard.  Credit markets with moral  
            hazard and heterogeneous valuations of collateral.  29p.    
     9606   Kubin, Ingrid & Rosner, Peter.  Immigration, growth, and    
            distribution.  25p.                                         
     9605   Orosel, Gerhard O. & Schob, Ronnie.  Internalizing          
            externalities in second-best tax systems.  22p.             
     9607   Scheicher, Martin.  Nonlinear dynamics: evidence for a small
            stock exchange.  21p.                                       
     9613   Clemenz, Gerhard.  Imperfectly observable emissions, adverse
            selection, and output restrictions.  18p.                   
     9614   Bughin, Jacques & Vannini, Stefano.  To be (unionized) or   
            not to be?: a case for cost-raising strategies.  12p.       
     9615   Winckler, Georg, Hochreiter, Eduard & Brandner, Peter.      
            Deficits, debt and European Monetary Union.  21p.           

     UNIVERSITY OF VIRGINIA.  Center for Studies in Political Economy.  

     266    Breit, William, Elzinga, Kenneth G. & Willett, Thomas D.    
            The Yeager mystique: the polymath as teacher, scholar and   
            colleague.  29p.                                            
     265    Jain, Neelam.  Credit-interlinkages and usurious informal   
            lending.  31p.                                              
     264    John, Andrew & Yi, Kei-Mu.  Language, learning and location.
             87p.                                                       
     267    Ihrig, Jane.  Multinationals' response to repatriation      
            restrictions.  38p.                                         
     269    Glomm, Gerhard & Ravikumar, B.  Flat-rate taxes, government 
            spending on education, and growth.  22p.                    
     268    Glomm, Gerhard & Ravikumar, B.  Vouchers, public and private
            education, and income distribution.  29p.                   
     274    Anderson, Simon P. & de Palma, Andre.  From local to global 
            competition.  33p.                                          
     273    Anderson, Simon P., Goeree, Jacob K. & Holt, Charles A.     
            Minimum-effort coordination games: an equilibrium analysis  
            of bounded rationality.  30p.                               
     272    Anderson, Simon P., Goeree, Jacob K. & Holt, Charles A.  A  
            theoretical analysis of altruism and decision error in      
            public goods games.  27p.                                   
     270    Davis, Douglas D. & Holt, Charles A.  Markets with posted   
            prices: recent results from the laboratory.  43p.           
     271    Ihrig, Jane.  The influence of the dividend tax price on    
            subsidiaries' repatriations.  38p.                          

     UNIVERSITY OF WASHINGTON.  Institute of Economic Research.         

     9612   Brock, Philip L.  High real interest rates and banking      
            crises in an open economy: a case study of Chile, 1975-1983.
             41p.                                                       
     9603   Brock, Philip L.  High real interest rates, guarantor risk, 
            and bank recapitalizations.  69p.                           




                                                           PAGE 124

     9602   Engel, Charles.  Accounting for U.S. real exchange rate     
            changes.  54p.                                              
     9605   Engel, Charles.  Long-run purchasing power parity may not   
            hold after all.  49p.                                       
     9613   Engel, Charles.  A model of foreign exchange rate           
            indetermination.  22p.                                      
     9614   Engel, Charles & Kim, Chang-Jin.  The long-run U.S./U.K.    
            real exchange rate.  37p.                                   
     9601   Engel, Charles & Rogers, John H.  Regional patterns in the  
            law of one price: the roles of geography vs. currencies.    
            42p.                                                        
     9611   Kim, Chang-Jin, Nelson, Charles R. & Startz, Richard.       
            Testing for mean reversion in heteroskedastic data based on 
            Gibbs sampling augmented randomization.  33p.               
     9609   Kochin, Michael S. & Kochin, Levis A.  When is buying votes 
            wrong?.  19p.                                               
     9604   Lundberg, Shelly J. & Startz, Richard.  Inequality and race:
            models and policy.  34p.                                    
     9615   Nelson, Charles R., Startz, Richard & Zivot, Eric.  Valid   
            confidence intervals and inference in the presence of weak  
            instruments.  49p.                                          
     9610   Thornton, Judith.  Structural change in the Russian Far     
            East: the implications for trade and factor markets.  30p.  
     9607   Van Long, Ngo & Wong, Kar-yiu.  Endogenous growth and       
            international trade: a survey.  65p.                        
     9606   Wang, Jiahui & Zivot, Eric.  Inference on a structural      
            parameter in instrumental variables regression with weak    
            instruments.  31p.                                          
     9608   Wong, Kar-yiu.  Endogenous growth and international labor   
            migration: the case of a small, emigration economy.  48p.   

     WASHINGTON UNIVERSITY.  Center for the Study of American Business. 

     160    Hughes, Samuel.  Regulatory budgeting.  38p.                
     161    Iijima, Timothy.  Intergovernmental grants and their        
            differential effects on renters vs. owners: a               
            fiscal-federalist approach.  37p.                           

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

     183    Hayes, David R. & Smith, Alastair.  The shadow of the polls:
            electoral effects on international agreements.  56p.        
     184    Nachbar, John H.  Prediction, optimization, and rational    
            learning in games.  35p.                                    
     185    Nachbar, John H., Peterson, Bruce & Hwang, Inhak.  Sunk     
            costs, accomodation, and the welfare effects of entry.  36p.
     186    Nixon, David, et al.  Multiparty probabilistic voting: an   
            application to the Knesset.  70p.                           
     188    Berliant, Marcus & Dunz, Karl.  A foundation of location    
            theory: existence of equilibrium, the welfare theorems and  
            core.  40p.                                                 
     189    Berliant, Marcus & Zenou, Yves.  Labor specialization and   
            city structure.  39p.                                       
     190    Berliant, Marcus & De, Sankar.  On revelation of private    
            information in stock markets economies.  20p.               



                                                           PAGE 125

     187    Schofield, Norman.  The C1 topology on the space of         
            preference profiles and the existence of a continuous       
            preference aggregator.  42p.                                

     WASHINGTON UNIVERSITY-ST. LOUIS.  Department of Economics.         

     199    Barnett, William A.  Fellow's opinion: econometrics, data,  
            and the World Wide Web.  5p.                                
     200    Barnett, William A., Kirova, Milka & Pasupathy, Meenaksi.   
            Technology modelling: curvature is not sufficient for       
            regularity.  46p.                                           
     202    Berliant, Marcus & Strauss, Robert P.  Horizontal and       
            vertical equity: a theoretical framework & empirical results
            for the federal individual income tax 1.  48p.              
     201    Berliant, Marcus & Strauss, Robert P.  On recent expositions
            of horizontal and vertical equity.  22p.                    
     203    Keating, John W.  Structural inference with VAR models that 
            are identified by long run recursive orderings.  25p.       
     204    Keating, John W. & Nye, John V.  The dynamic effects of     
            aggregate demand and supply disturbances in the G7          
            countries.  20p.                                            
     205    Keating, John W. & Nye, John V.  Permanent and transitory   
            shocks in real output: estimates from 19th century and      
            postwar economies.  35p.                                    
     206    Felix, David.  On drawing general policy from recent Latin  
            American currency crises.  48p.                             

     UNIVERSITY OF WATERLOO.  Department of Economics.                  

     9601   Bossert, Walter, Fleurbaey, Marc & Van de Gaer, Dirk.  On   
            second-best compensation.  32p.                             
     9604   Andolfatto, David, Gomme, Paul & Storer, Paul.  U.S. labour 
            market policy and the Canada-U.S. unemployment rate gap.    
            38p.                                                        
     9608   Blackorby, Charles, Bossert, Walter & Donaldson, David.     
            Foreign aid and population policy: some ethical             
            considerations.  34p.                                       
     9609   Bossert, Walter.  Uncertainty aversion in nonprobabilistic  
            decision models.  13p.                                      
     9602   Brox, james A. & Fader, Christina A.  Public infrastructure,
            regional efficiency, and factor substitutability in Atlantic
            Canada manufacturing.  25p.                                 
     9603   Brox, James A. & Fader, Christina A.  The science of        
            management and the art of flexibility: assessing the impact 
            of just-in-time using a CES translog tot.  36p.             
     9605   Brox, James A. & Kumar, Ramesh C.  Valuing camp-site        
            characteristics: a generalized travel-cost model of demand  
            for recreational camping.  29p.                             
     9606   Busseri, Michael A., Kerton, Robert R. & Lefcourt, Herbert  
            M.  Beyond control: predicting consumer behavior using a    
            measure for consumer locus of control.  21p.                
     9607   Kumar, Ramesh C.  On optimal capacity expansion for domestic
            processing of an exhaustible natural resource.  25p.        
     9614   Nosal, Ed.  Contract renegotiation in a continuous state    
            space.  28p.                                                



                                                           PAGE 126

     9615   Nosal, Ed.  Optimal at-will contracts.  20p.                
     9616   Blackorby, Charles, Bossert, Walter & Donaldson, David.     
            Information invariance in variable population social choice 
            problems.  22p.                                             

     UNIVERSITY OF WESTERN ONTARIO.  Department of Economics.           

     9513   Boldrin, Michele, Christiano, Lawrence J. & Fisher, Jonas   
            D.M.  Asset pricing lessons for modelling business cycles.  
            51p.                                                        
     9511   Busch, L.A. & Horstmann, J.  Concessions and the agenda in  
            bargaining.  20p.                                           
     9515   Christiano, Lawrence J. & Fisher, Jonas D.M.  Tobin's q and 
            asset returns: implications for business cycle analysis.    
            60p.                                                        
     9516   Davies, James B. & Zhang, Junsen.  Measuring marginal income
            tax rates for individuals in Canada: averages and           
            distributions over time.  37p.                              
     9514   Fisher, Jonas D.M & Hornstein, Andreas.  (S,s) inventory    
            policies in general equilibrium.  54p.                      
     9512   Hamilton, Barton H., Hamilton, Vivian H. & Paarsch, Harry J.
             Access, utilization, and equity in Canada and the U.S.: an 
            empirical model of physician visits.  39p.                  
     9518   Border, Kim C. & Segal, Uzi.  Preferences over solutions to 
            the bargaining problem.  22p.                               
     9523   Horstmann, Ignatius J. & MacDonald, Glenn M.  Advertising as
            a signal of product quality: compact disc players.  31p.    
     9522   Horstmann, Ignatius J. & LaCasse, Chantale.  Secret reserve 
            prices in a bidding model with a re-sale option.  39p.      
     9521   Laidler, David E.W. & Stadler, George W.  Monetary          
            explanations of the Weimar Republic's hyperinflation: some  
            neglected contributions in contemporary German .  43p.      
     9520   Michelis, Leo.  Non-nested pretest tests.  25p.             
     9517   Segal, Uzi.  Dynamic consistency and reference points.  14p.
     9519   Segal, Uzi & Spivak, Avia.  First-order risk aversion and   
            non-differentiability.  7p.                                 
     9602   Aguirregabiria, Victor.  Estimation of dynamic decision     
            models with corner solutions: a model of price and inventory
            decisions.  49p.                                            
     9603   Bental, Benjamin & Peled, Dan.  Growth effects of subsidies 
            in a search theoretic R & D model: a quantitative           
            evaluation.  27p.                                           
     9601   Bowlus, Audra J., Kiefer, Nicholas M. & Neumann, George R.  
            Fitting equilibrium search models to labor market data.     
            29p.                                                        
     9604   Davies, James B. & Zhang, Junsen.  The effects of gender    
            control on fertility and children's consumption.  38p.      
     9606   Laidler, David.  American macroeconomics between World War I
            and the Depression.  57p.                                   
     9605   Nott, Loretta.  Hysteresis in the Canadian labour market:   
            evidence from the 1990s.  26p.                              
     9607   Segal, Uzi.  How to escape Dutch books in dynamic choice.   
            13p.                                                        
     9609   Cowan, Robin, Cowan, William & Swann, Peter.  A model of    
            demand with interactions among consumers.  27p.             



                                                           PAGE 127

     9610   Laidler, David.  Notes on the microfoundations of monetary  
            economics.  19p.                                            
     9611   Perry, Motty & Vincent, Daniel R.  The optimal timing of    
            procurement decisions and patent allocations.  26p.         
     9608   Segal, Uzi.  Let's agree that all dictatorships are equally 
            bad.  18p.                                                  

     UNIVERSITY OF WISCONSIN.  Social Systems Research Institute.       

     9514   Akdeniz, Levent & Dechert, W. Davis.  A numerical solution  
            of the stochastic growth model.  16p.                       
     9519   Bergman, Mats A.  Endogenous Stackelberg leadership or price
            competition under capacity constraint with endogenous entry.
             24p.                                                       
     9529   Binmore, Ken & Samuelson, Larry.  Evolutionary drift and    
            equilibrium selection.  42p.                                
     9517   Binmore, Ken, et al.  Hard bargains and lost opportunities. 
            34p.                                                        
     9521   Brock, William A. & Durlauf, Steven N.  Discrete choice with
            social interaction, I.  39p.                                
     9523   Brock, William A. & de Lima, Pedro J.F.  Nonlinear time     
            series, complexity theory, and finance.  65p.               
     9530   Brock, William A. & Hommes, Cars H.  A rational route to    
            randomness.  55p.                                           
     9520   Brock, W.A., et al.  A test for independence based on the   
            correlation dimension.  35p.                                
     9515   Calcagnini, Giorgio & Hester, Donald D.  Regulatory change  
            and bank profitability in Italy.  40p.                      
     9527   Che, Yeon-Koo & Gale, Ian.  Buyer alliances and managed     
            competition.  26p.                                          
     9524   Che, Yeon-Koo & Chung, Tai-Yeong.  Incomplete contracts and 
            cooperative investments.  32p.                              
     9516   Dechert, W. Davis, Sprott, Julien C. & Albers, David J.  On 
            the frequency of chaotic dynamics in large economies.  9p.  
     9525   Horowitz, Joel L. & Manski, Charles F.  Censoring of        
            outcomes and regressors due to survey nonresponse:          
            identification & estimation using weights & imputat.  40p.  
     9513   Jones, Larry E. & Manuelli, Rodolfo.  A positive model of   
            growth and pollution controls.  40p.                        
     9512   Kennen, John.  The elusive effects of minimum wages.  21p.  
     9528   LeBaron, Blake.  Experiments in evolutionary finance.  14p. 
     9526   Manski, Charles F. & Nagin, Daniel S.  Bounding             
            disagreements about treatment effects: a case study of      
            sentencing and recidivism.  43p.                            
     9518   Noldeke, Georg & Samuelson, Larry.  A dynamic model of      
            equilibrium selection in signalling markets.  32p.          
     9522   Shea, John.  Comovement in cities.  56p.                    
     9601   Andreoni, James & Miller, John H.  Giving according to GARP:
            an experiental study of rationality and altruism.  30p.     
     9610   Andreoni, James, Erard, Brian & Feinstein, Jonathan.  Tax   
            compliance.  66p.                                           
     9602   Bagwell, Kyle & Staiger, Robert W.  Reciprocal trade        
            liberalization.  50p.                                       
     9605   Bagwell, Kyle & Staiger, Robert W.  Strategic export        
            subsidies and reciprocal trade agreements: the natural      
            monopoly case.  31p.                                        


                                                           PAGE 128

     9603   Binmore, Ken, Piccione, Michele & Samuelson, Larry.         
            Evolutionaty stability in alternating-offers bargaining     
            games.  35p.                                                
     9606   Brock, William A.  Asset price behavior in complex          
            environments.  36p.                                         
     9609   Che, Yeon-Koo & Gale, Ian.  The optimal mechanism for       
            selling to budget-constrained consumers.  19p.              
     9608   Che, Yeon-Koo & Hausch, Donald B.  Cooperative investments  
            and the value of contracting: Coase vs. Williamson.  29p.   
     9614   Dominitz, Jeff & Manski, Charles F.  Perceptions of economic
            insecurity: evidence from the Survey of Economic            
            Expectations.  37p.                                         
     9613   Durlauf, Steven N.  Associational redistribution: a defense.
             31p.                                                       
     9615   Durlauf, Steven N.  An incomplete markets model of business 
            cycles.  35p.                                               
     9612   Eshel, Illan, Samuelson, Larry & Shaked, Avner.  Altruism,  
            egoists and hooligans in a local interaction model.  40p.   
     9607   Keller, Wolfgang.  Are international R & D spillovers trade 
            related?: analyzing spillovers among randomly matched trade 
            partners.  16p.                                             
     9611   Mailath, George J., Samuelson, Larry & Swinkels, Jeroen M.  
            How proper is sequential equilibrium?.  26p.                
     9604   Manski, Charles F.  Monotone treatment response.  41p.      

     YALE UNIVERSITY.  Economic Growth Center.                          

     739    Dow, William H.  Discrete choice estimation of              
            price-elasticities: the benefits of a flexible behavioral   
            model of health care demand.  51p.                          
     740    Dow, William H.  Unconditional demand for curative health   
            inputs: does selection on health status matter in the long  
            run?.  49p.                                                 
     741    Dow, William H.  Welfare impacts of health care user fees: a
            health-valuation approach to analysis with imperfect        
            markets.  36p.                                              
     733    Guinnane, Timothy W.  Diversification, liquidity, and       
            supervision for small financial institutions: 19th century  
            German credit cooperativ.  73p.                             
     744    Mwabu, Germano & Schultz, T. Paul.  Education returns across
            quantiles of the wage function: alternative explanations for
            returns to education by race .  24p.                        
     734    Sala-i-Martin, Xavier.  The classical approach to           
            convergence analysis.  37p.                                 
     735    Sala-i-Martin, Xavier & Barro, Robert J.  Technological     
            diffusion, convergence and growth.  95p.                    
     736    Sala-i-Martin, Xavier, et al.  Tetanus, death and aerobics: 
            the evaluation of disease-specific public health            
            interventions.  37p.                                        
     742    Schultz, T. Paul.  Accounting for public expenditures on    
            education: an international panel study.  61p.              
     743    Schultz, T. Paul.  Aging, immigration and women in the labor
            force: Japan compared to other OECD countries.  76p.        
     737    Schultz, T. Paul.  Demand for children in low income        
            countries.  116p.                                           



                                                           PAGE 129

     738    Schultz, T. Paul.  Fertility and child mortality in Cote    
            d'Ivoire and Ghana.  50p.                                   
     750    Boozer, Michael & Philipson, Tomas.  The private demand for 
            information and the effects of public testing programs: the 
            case of HIV.  55p.                                          
     752    Corsetti, Giancarlo & Cavallari, Lilia.  Policy making and  
            speculative attacks in models of exchange rate crises: a    
            synthesis.  26p.                                            
     751    Fardmanesh, Mohsen & Tan, Li.  Price and trade              
            liberalization in East European economies.  38p.            
     749    Goto, Junichi.  The impact of migrant workers on the        
            Japanese economy: trickle vs. flood.  43p.                  
     753    Hamada, Koichi.  The structure of arms races before and     
            after the end of the Cold War: from strategic substitutes to
            strategic compl.  25p.                                      
     754    Hamada, Koichi & Goto, Junichi.  Regional economic          
            integration and article XXIV of the GATT.  45p.             
     747    Lanzona, Leonardo A.  Migration decisions, self-selection   
            and earnings in low income Philippine communities.  37p.    
     746    Ranis, Gustav.  North-South conflicts and their management. 
            34p.                                                        
     745    Ranis, Gustav.  Will Latin America now put a stop to        
            "stop-and-go"?.  22p.                                       
     748    Srinivasan, T.N. & Robinson, James A.  Long-term            
            consequences of population growth: technological change,    
            natural resources, and the environment.  131p.              

     COWLES FOUNDATION AT YALE UNIVERSITY.  Reprint Series.             

     902    Andrews, Donald W.K.  Nonparametric kernel estimation for   
            semiparametric models.  0p.                                 
     900    Blood, Deborah J. & Phillips, Peter C.B.  Recession headline
            news, consumer sentiment, the state of the economy and      
            presidential popularity: a time series an.  0p.             
     906    Cook, William, et al.  An implementation of the generalized 
            basis reduction algorithm for integer programming.  0p.     
     901    Dubey, Pradeep & Geanakoplos, John.  The value of money in a
            finite-horizon economy: a role for banks.  0p.              
     905    Phillips, Peter C.B.  Fully modified least squares and      
            vector autoregression.  0p.                                 
     903    Phillips, Peter C.B. & Loretan, Mico.  On the theory of     
            testing covariance stationarity under moment condition      
            failure.  0p.                                               
     899    Tobin, James.  Democratic values and capitalist efficiency: 
            the liberal reconciliation.  0p.                            
     916    Andrews, Donald W.K. & Ploberger, Werner.  Admissibility of 
            the likelihood ratio test when a nuisance parameter is      
            present only under the alternative.  0p.                    
     913    Kitamura, Yuichi & Phillips, Peter C.B.  Efficient          
            instrumental variables estimation in nonstationary          
            regression.  0p.                                            
     915    Linton, Oliver.  Second order approximation in the partially
            linear regression model.  0p.                               
     881    Miller, John H. & Shubik, Martin.  Some dynamics of a       
            strategic market game with a large number of agents.  0p.   



                                                           PAGE 130

     911    Phillips, Peter C.B.  Bayesian model selection and          
            prediction with empirical applications.  0p.                
     908    Phillips, Peter C.B.  Bayesian prediction: a response.  0p. 
     912    Phillips, Peter C.B.  Robust nonstationary regression.  0p. 
     914    Phillips, Peter C.B.  Trending multiple time series.  0p.   
     909    Shiller, Robert J.  Conversation, information, and herd     
            behavior.  0p.                                              
     923    Andrews, Donald W.K.  Admissibility of the likelihood ratio 
            test when the parameter space is restricted under the       
            alternative.  0p.                                           
     925    Andrews, Donald W.K., Lee, Inpyo & Ploberger, Werner.       
            Optimal changepoint tests for normal linear regression.  0p.
     919    Chang, Yoosoon & Phillips, Peter C.B.  Time series          
            regression with mixtures of integrated processes.  0p.      
     924    Hajivassiliou, Vassilis, McFadden, Daniel & Ruud, Paul.     
            Simulation of multivariate normal rectangle probabilities & 
            their derivatives: theoretical and computational result.    
            0p.                                                         
     918    Linton, Oliver & Nielsen, Jens P.  A kernel method of       
            estimating structured nonparametric regression based on     
            marginal integration.  0p.                                  
     920    Nordhaus, William D.  Locational competition and the        
            environment: should countries harmonize their environmental 
            policies?.  0p.                                             
     921    Phillips, Peter C.B., McFarland, James W. & McMahon, Patrick
            C.  Robust tests of forward exchange market efficiency with 
            empirical evidence from the 1920s.  0p.                     
     917    Phillips, Peter C.B. & Ploberger, Werner.  An asymptotic    
            theory of Bayesian inference for time series.  0p.          
     922    Shiller, Robert, Kon-ya, Fumiko & Tsutsui, Yoshiro.  Why did
            the Nikkei crash?: expanding the scope of expectations data 
            collection.  0p.                                            

     NATIONAL BUREAU OF ECONOMIC RESEARCH.  Reprint Series.             

     2008   Bresnahan, Timothy F. & Trajtenberg, Manuel.  General       
            purpose technologies, `engines of growth'?.  0p.            

     WASHINGTON UNIVERSITY.  CSAB.  Formal Publications (Pamphlets).    

     127    Vedder, Richard & Gallaway, Lowell.  Cracked foundation:    
            repealing the Davis-Bacon Act.  28p.                        
     128    Clinton, Kenneth & Boerner, Christopher.  Smog in America:  
            the high cost of hysteria.  28p.                            
     129    Lambert, Thomas.  Defusing the "population bomb" with free  
            markets.  35p.                                              
     132    Hopkins, Thomas D.  Regulatory costs in profile.  25p.      
     133    Sykuta, Michael.  Do automobile fuel economy standards      
            work?.  22p.                                                
     135    James, Harvey S.  Estimating OSHA compliance costs.  29p.   
     134    Vedder, Richard K.  The three "ps" of American education:   
            performance, productivity, privatization.  27p.             

     YALE UNIVERSITY.  Economic Growth Center-Reprint Series.           

     501    Evenson, Robert E.  Research and extension impacts on food  
            crop production in Indonesia.  0p.                          

                                                           PAGE 131

     503    Evenson, Robert E. & Westphal, Larry E.  Technological      
            change and technology strategy.  0p.                        
     504    Hamada  Koichi.  Behind the U.S./Japan trade conflict.  0p. 
     502    Hamada, Koichi.  Broadening the tax base: the economics     
            behind it.  0p.                                             
     505    Ranis, Gustav.  Another look at the East Asian miracle.  0p.

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