New Acquisitions - April, 1995

                                                           PAGE   1


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

     274    Adsera, Alicia & Ray, Debraj.  More on history versus       
            expectations.  8p.                                          
     282    Burguet, Roberto & Fernandez, Jorge.  A simple model of     
            development traps with public capital: taxes and external   
            debt.  23p.                                                 
     285    Caminal, Ramon.  Price advertising and coupons in a monopoly
            model.  23p.                                                
     279    Page, Frank H. & Wooders, Myrna H.  The partnered core of an
            economy.  11p.                                              
     286    Wooders, Myrna H.  Partnership and the commonwealth core.   
            7p.                                                         

     BOSTON UNIVERSITY.  Department of Economics.                       

     34     Eaton, Jonathan & Kortum, Samuel.  Trade in ideas: patenting
            and productivity in the OECD.  37p.                         

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

     55     Donald, Stephen G. & Sappington, David E.M.  Explaining the 
            choice among regulatory plans in the U.S. telecommunications
            industry.  47p.                                             

     BROWN UNIVERSITY.  Department of Economics.                        

     9513   Asdrubali, Pierfederico, Sorensen, Bent E. & Yosha, Oved.   
            Channels of interestate risksharing: U.S. 1963-1990.  29p.  
     95-9   Baliga, Sandeep & Serrano, Roberto.  Negotiations with      
            side-deals.  20p.                                           
     9414   Betocchi, Graziella.  Colonialism in the theory of growth.  
            17p.                                                        
     9512   Bertocchi, Graziella & Spagat, Michael.  Growth under       
            uncertainty with experimentation.  27p.                     
     9415   Fan, C. Simon & Spagat, Michael.  Human capital and long-run
            growth in Russia: a cautionary perspective.  31p.           
     9421   Feldman, Allan M.  The value of life.  37p.                 
     95-5   Friedberg, Rachel M. & Hunt, Jennifer.  The impact of       
            immigrants on host country wages, employment and growth.    
            39p.                                                        
     95-7   Gozalo, Pedro L.  Nonparametric bootstrap analysis with     
            application to Engel demand curves.  39p.                   
     95-1   Grossman, Herschel I.  Chapter 8: Insurrections.  32p.      
     95-2   Grossman, Herschel I.  The economics of revolutions.  24p.  
     9413   Ho, Mun S. & Sorensen, Bent E.  On the econometrics of      
            public capital and long-run productivity.  28p.             
     95-4   Keane, Michael & Moffitt, Robert.  A structural model of    
            multiple welfare program participation and labor supply.    
            40p.                                                        
     9410   Lach, Saul & Tsiddon, Daniel.  Staggering and               
            synchronization in price-setting: evidence from multiproduct
            firms.  56p.                                                




                                                           PAGE   2

     95-3   Lancaster, Tony.  Exact structural inference in optimal job 
            search models.  55p.                                        
     94-8   Lim, Guay C. & Stein, Jerome L.  The dynamics of the real   
            exchange rate and current account in a small open economy:  
            Australia.  47p.                                            
     9419   Serrano, Roberto & Zapater, Inigo.  The three-legged race:  
            cooperating to compete.  20p.                               
     9511   Shimomura, Ken-ichi.  The bargaining set and coalition      
            formation.  26p.                                            
     9510   Shimomura, Ken-ichi.  Reversibility does not convert the    
            equilibrium existence theorem.  12p.                        
     95-8   Stein, Jerome L.  The fundamental determinants of the real  
            exchange rate of the U.S. dollar relative to the G7.  38p.  
     94-9   Stein, Jerome L.  International finance theory and empirical
            reality.  28p.                                              
     94-7   Stein, Jerome L.  The natural real exchange of the U.S.     
            dollar and determinants of capital flows.  54p.             
     95-6   Vohra, Rajiv.  Coalitional non-cooperative approaches to    
            cooperation.  15p.                                          
     9418   Yafeh, Yishay & Yosha, Oved.  Large share holders, banks and
            managerial moral hazard: an empirical investigation.  29p.  
     9411   Yosha, Oved.  Competitive disadvantage induced by disclosure
            regulations: a welfare analysis.  20p.                      

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

     898    Alvarez, R. Michael & Saving, Jason.  Congressional         
            commttees and the political economy of federal outlays.     
            20p.                                                        
     914    Alvarez, R. Michael & Nagler, Jonathan.  Correlated         
            disturbances in discrete choice models: a comparison of     
            multinomial probit models and logit models.  29p.           
     892    Banks, Jeffrey, Olson, Mark & Porter, David.  An            
            experimental analysis of the two-armed bandit problem.  31p.
     916    Bykowsky, Mark M., Cull, Robert J. & Ledyard, John O.       
            Mutually destructive bidding: the FCC auction design        
            problem.  36p.                                              
     897    Chander, Parkash & Tulkens, Henry.  A core-theoretic        
            solution for the design of cooperative agreements on        
            transfrontier pollution.  16p.                              
     906    Jamison, Julian C. & Plott, Charles R.  Costly offers and   
            the equilibration properties of the multiple unit double    
            auction under conditions of unpredictabl.  28p.             
     909    Myagkov, Mikhail & Plott, Charles R.  Exchange economies and
            loss exposure: experiments exploring prospect theory and    
            competitive equilibria in market en.  70p.                  
     911    Plott, Charles R. & Turocy, Theodore L.  Intertemporal      
            speculation under conditions of uncertain future demand and 
            an endogenous, non-public number of specu.  48p.            

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

     47     Eichengreen, Barry, Rose, Andrew K. & Wyplosz, Charles.  Is 
            there a safe passage to EMU?: evidence on capital controls  
            and a proposal.  41p.                                       



                                                           PAGE   3

     46     Eichengreen, Barry, Rose, Andrew K. & Wyplosz, Charles.     
            Speculative attacks on pegged exchange rates: an empirical  
            exploration with special reference to the European Monet.   
            49p.                                                        
     48     Obstfeld, Maurice & Rogoff, Kenneth.  Exchange rate dynamics
            redux.  41p.                                                

     BANK OF CANADA.  Technical Reports.                                

     73     Armstrong, John, et al.  The Bank of Canada's new quarterly 
            projection model, part 2: a robust method for simulating    
            forward-looking models.  33p.                               

     UNIVERSITY OF CANTERBURY.  Department of Economics.                

     9501   Carter, Michael & Guthrie, Graeme.  Pricing Internet: the   
            New Zealand experience.  17p.                               

     UNIVERSIDAD CARLOS III de MADRID.  Dept. de Economia.              

     9505   Prados de la Escosura, Leandro.  Spain's gross domestic     
            product, 1850-1993: quantitative conjectures.  79p.         
     9506   Prados de la Escosura, Leandro.  Spain's gross domestic     
            product, 1850-1993: quantitative conjectures, appendix.     
            119p.                                                       

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

     9430   Browne, Sid.  Survival and growth with a fixed liability:   
            optimal portfolio strategies in continuous time.  24p.      
     9427   Edwards, Franklin R.  Derivatives can be hazardous to your  
            health: the case of Metallgesellschaft.  28p.               
     9429   Edwards, Franklin R.  Off-exchange derivatives markets and  
            financial fragility.  47p.                                  
     9428   Edwards, Franklin R. & Canter, Michael S.  The collapse of  
            Metallgesellschaft: unhedgeable risks, poor hedging strategy
            or just bad luck?.  56p.                                    
     9426   Edwards, Franklin R. & Mishkin, Frederic S.  The decline of 
            traditional banking: implications for financial stability   
            and regulatory policy.  42p.                                
     9424   Kyle, Albert S. & Wang, F. Albert.  Speculation duupoly with
            agreement to disagree.  58p.                                
     9425   Wang, F. Albert.  Strategic trading with heterogeneous prior
            beliefs: variations in volume and volatility.  50p.         

     UNIVERSITY OF COPENHAGEN.  Institute of Economics.                 

     9415   Dierker, Egbert & Grodal, Birgit.  Profit maximization      
            mitigates competition.  23p.                                
     9502   Hansen, Claus T.  Labour unions, capital accumulation, and  
            the natural rate of unemployment.  15p.                     
     9416   Perraudin, William & Sorensen, Bent.  Modelling exchange    
            rates in continuous time: theory, estimation and option     
            pricing.  31p.                                              




                                                           PAGE   4

     9501   Schultz, Christian.  Wages and employment in a repeated game
            with revenue fluctuations.  24p.                            

     CORNELL UNIVERSITY.  Center for Analytic Economics.                

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

     (ENGLAND) CENTRE FOR ECONOMIC POLICY RESEARCH.                     

     1123   Avesani, Renzo G., Gallo, Giampiero M. & Salmon, Mark.  On  
            the evolution of credibility and flexible exchange rate     
            target zones.  35p.                                         
     1126   Ben-David, Dan.  Trade and convergence among countries.     
            28p.                                                        
     1111   Ben-David, Dan & Pappell, David H.  Slowdowns and meltdowns:
            post-war growth evidence from 74 countries.  21p.           
     1102   Burda, Michael C. & Lubyova, Martina.  The impact of active 
            labour market policies: a closer look at the Czech and      
            Slovak Republics.  40p.                                     
     1125   Burgess, Simon, Lane, Julia & Stevens, David.  Job flows,   
            worker flows and churning.  44p.                            
     1133   Coe, David T., Helpman, Elhanan & Hoffmaister, Alexander W. 
            North-South R & D spillovers.  41p.                         
     1132   Franz, Wolfgang.  Central and East European labour markets  
            in transition: developments, causes, and cures.  71p.       
     1134   Grossman, Gene M. & Helpman, Elhanan.  Technology and trade.
             77p.                                                       
     1108   Jappelli, Tullio & Pagano, Marco.  The welfare effects of   
            liquidity constraints.  25p.                                
     1094   Karp, Larry & Paul, Thierry.  Labour adjustment and gradual 
            reform: is commitment important?.  45p.                     
     1129   Martin, Philippe & Rogers, Carol A.  Optimal stabilization  
            policy in the presence of learning by doing.  31p.          
     1130   Martin, Philippe & Rogers, Carol A.  Stabilization policy,  
            learning by doing, and economic growth.  22p.               
     1131   Obstfeld, Maurice & Rogoff, Kenneth.  Exchange rate dynamics
            redux.  41p.                                                
     1141   Persson, Torsten & Tabellini, Guido.  Double-edged          
            incentives: institutions and policy coordination.  58p.     
     1142   Persson, Torsten & Tabellini, Guido.  Federal fiscal        
            constitutions, part II: risk sharing and redistribution.    
            32p.                                                        
     1143   Rama, Martin & Tabellini, Guido.  Endogenous distortions in 
            product and labour markets.  36p.                           
     1115   Rodrik, Dani.  The dynamics of political support for reform 
            in economies in transition.  32p.                           
     1124   Stevens, Margaret.  The sharing hypothesis for specific     
            human capital.  16p.                                        
     1127   Sussman, Oren & Zeira, Joseph.  Banking and development.    
            42p.                                                        

     FEDERAL RESERVE BANK OF DALLAS.  Research Department.              

     9501   Huffman, Gregory W.  An equilibrium analysis of central bank
            independence and inflation.  24p.                           


                                                           PAGE   5


     FEDERAL RESERVE BANK OF KANSAS CITY.  Research Division.           

     9414   Hakkio, Craig S. & Sellon, Gordon H.  Monetary policy       
            without intermediate targets: Federal Reserve policy since  
            1983.  36p.                                                 
     9412   Sellon, Gordon H.  Measuring monetary policy.  44p.         
     9413   Weiner, Stuart E.  Structural change in U.S. labor markets: 
            a narrowing of the gap between male and female natural      
            rates.  26p.                                                

     FEDERAL RESERVE BANK OF MINNEAPOLIS.  Research Department.         

     187    Allen, Beth, et al.  Capacity precommitment as a barrier to 
            entry: a Bertrand-Edgeworth approach.  50p.                 

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

     99     De Santis, Giorgio & Gerard, Bruno.  Time-varying risk and  
            international portfolio diversification with contagious bear
            markets.  32p.                                              

     FEDERAL RESERVE BANK OF PHILDELPHIA.  Economic Research Division.  

     95-2   Shaffer, Sherrill.  Structural screens in stochastic        
            markets.  18p.                                              

     FEDERAL RESERVE BOARD.  Finance & Economics Discussion Series.     

     95-8   Labadie, Pamela A.  Financial intermediation and monetary   
            policy in a general equilibrium banking model.  33p.        
     95-7   Neumark, David & Wascher, William.  Minimum wage effects on 
            school and work transitions of teenagers.  14p.             
     95-6   Schmitt-Grohe, Stephanie.  The international transmission of
            economic fluctuations: effects of U.S. business cycles on   
            the Canadian economy.  50p.                                 

     FEDERAL RESERVE BOARD.  International Finance Papers.              

     504    Den Haan, Wouter J. & Levin, Andrew T.  Inference from      
            parametric and non-parametric covariance matrix estimation  
            procedures.  43p.                                           
     506    Ericsson, Neil R. & Irons, John S.  The Lucas critique in   
            practice: theory with measurement.  96p.                    
     507    Mendoza, Enrique G. & Tesar, Linda L.  Supply-side economics
            in a global economy.  58p.                                  
     505    Uribe, Martin.  Real exchange rate targeting and            
            macroeconomic instability.  32p.                            

     HEBREW UNIV. Center for Rationality & Interactive Decision Theory. 

     61     Agastya, Murali.  An evolutionary bargaining model.  31p.   
     62     Agastya, Murali.  Ordinality of the Shapley value.  10p.    
     63     Agastya, Murali.  Perseverence, information and             
            stochastically stable outcomes.  13p.                       



                                                           PAGE   6

     59     Aumann, Robert J.  Backward induction and common knowledge  
            of rationality.  14p.                                       
     67     Aumann, Robert J.  Interactive epistemology.  59p.          
     68     Avenhaus, Rudolf, Von Stengel, Bernhard & Zamir, Shmuel.    
            Inspection games.  47p.                                     
     64     Glazer, Jacob & Perry, Motty.  Virtual implementation in    
            backwards induction.  9p.                                   
     66     Hart, Sergiu & Mas-Colell, Andreu.  Bargaining and value.   
            52p.                                                        
     65     Neyman, Abraham.  Cooperation in the repeated prisoners'    
            dilemma when the number of stages is not commonly known.    
            33p.                                                        
     60     Orshan, Gooni.  Non-symmetric prekernels.  100p.            

     INSTITUT NATIONAL DE LA STATISTIQUE ET DES ETUDES ECONOMIQUES.     

     9515   Abowd, J., et al.  A la recherche des moments perdus:       
            covariance models for unbalanced panels with endogenous     
            death.  39p.                                                
     9508   Abowd, J., Kramarz, F. & Moreau, A.  Product quality and    
            worker quality.  30p.                                       
     9509   Berred, A.M.  Sums of k-record values and the exponent of   
            regular variation.  21p.                                    
     9511   Broze, L., Scaillet, O. & Zakoian, J.M.  Quasi indirect     
            inference for diffusion processes.  55p.                    
     9506   Guerre, E.  On the score function of the Box-Cox            
            transformation for integrated time series.  36p.            
     9514   Jouini, E. & Kallal, H.  Arbitrage in securities markets    
            with short sales constraints.  38p.                         
     9512   Jouini, E. & Kallal, H.  Efficient trading strategies in the
            presence of market frictions.  34p.                         
     9513   Jouini, E. & Kallal, H.  Martingales and arbitrage in       
            securities and markets with transaction costs.  18p.        
     9510   Laroque, G. & Rabault, G.  The inventory cycle: from theory 
            to empirical evidence.  20p.                                
     9504   Philippe, A. & Robert, C.P.  A note on the confidence       
            properties of reference priors for the calibration model.   
            17p.                                                        
     9505   Robin, J.M. & Smith, R.J.  Tests of rank.  45p.             

     JOHNS HOPKINS UNIVERSITY.  Department of Political Economy.        

     341    Ball, Laurence, Elmendorf, Douglas W. & Mankiw, N. Gregory. 
            The deficit gamble.  42p.                                   
     340    Karni, Edi.  Social welfare function and fairness.  13p.    
     339    Young, H. Peyton.  Dividing the indivisible.  22p.          

     LONDON SCHOOL OF ECONOMICS.  Financial Markets Group.              

     202    Chen, Zhaohui.  Speculative market structure and the        
            collapse of an exchange rate mechanism.  37p.               
     201    Vogler, Karl-Hubert.  Risk allocation and inter-dealer      
            trading.  21p.                                              

     UNIVERSITY OF LONDON-BIRKBECK COLLEGE.  Department of Economics.   

     19/94  Booth, Alison & Zoega, Gylfi.  Quitting externalities,      
            employment cyclicality and firing costs.  34p.              
                                                           PAGE   7

     21/94  Hall, Stephen, Psaradakis, Zacharias & Sola, Martin.        
            Changes in regime, cointegration, seasonality, and the      
            Japanese consumption function.  24p.                        
     1/95   Orszag, J. Michael.  On a field theoretic approach to       
            statistical macroeconomics.  29p.                           
     20/94  Zoega, Gylfi.  Public consumption and unemployment.  16p.   

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

     1/95   Blake, David.  Pension schemes as options of pension fund   
            assets: implications for pension fund managament.  57p.     
     2/95   Psaradakis, Zacharias & Sola, Martin.  Modelling long memory
            in stock market volatility: a fractionally integrated       
            generalized ARCH approach.  22p.                            

     UNIVERSITY COLLEGE LONDON.  Department of Economics.               

     9503   Blundell, Richard, Griffith, Rachel & Windmeijer, Frank.    
            Individual effects and dynamics in count data models.  30p. 
     9502   Pezzey, John.  Concern for sustainable development in a     
            sexual world.  43p.                                         

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

     9471   Allen, Beth, Dutta, Jayasri & Polemarchakis, Heracles.      
            Equilibrium selections.  25p.                               
     9509   Amir, Rabah.  Continuous stochastic games of capital        
            accumulation with convex transitions.  24p.                 
     9464   Berechman, Joseph, Poddar, Sougata & Shy, Oz.  Network      
            structure and entry in the deregulated airline industry.    
            26p.                                                        
     9508   Berliant, Marcus & Zenou, Yves.  Labor specialization and   
            city formation.  27p.                                       
     9460   Boldrin, Michele & Rustichini, Aldo.  Equilibria with social
            security.  35p.                                             
     9481   Broze, Laurence, Melard, Guy & Scaillet, Olivier.  Forecast 
            intervals in ARCH exponential smoothing.  25p.              
     9505   Broze, Laurence, Scaillet, Olivier & Zakoian, Jean-Michel.  
            Quasi indirect inference for diffusion processes.  55p.     
     9459   Codognato, Giulio & Ghosal, Sayantan.  Cournot equilibrium  
            in markets with a continuum of traders.  9p.                
     9504   Cordella, Tito & Grilo, Isabel.  "Social dumping" and       
            delocalization: is there a case for imposing a social       
            clause?.  21p.                                              
     9469   Cremer, Helmuth, Marchand, Maurice & Pestieau, Pierre.      
            Interregional redistribution through tax surcharge.  16p.   
     9473   d'Aspremont, Claude & Gerard-Varet, Louis-Andre.  Moral     
            hazard in teams with uncertainty, and transfers or          
            repetition as enforcement mechanisms.  29p.                 
     9477   d'Aspremont, Claude, Dos Santos Ferreira, Rodolphe &       
            Gerard-Varet, Louis-Andre.  Imperfect competition in an     
            overlapping generations model: a case for fiscal policy.    
            31p.                                                        
     9468   d'Aspremont, Claude, Dos Santos Ferreira, Rodolphe &       
            Gerard-Varet, Louis-Andre.  Market power, coordination      
            failures and endogenous fluctuations.  58p.                 


                                                           PAGE   8

     9467   d'Aspremont, Claude, Dos Santos Ferreira, Rodolphe &       
            Gerard-Varet, Louis-Andre.  On the Dixit-Stiglitz model of  
            monopolistic competition as enforcement mechanisms.  12p.   
     9515   De Meyer, Bernard.  A bound for continuous martingales in a 
            cone.  19p.                                                 
     9475   Dreze, Jacques H.  Forty years of public economics: a       
            personal perspective.  25p.                                 
     9480   Dreze, Jacques H. & Polemarchakis, Heracles M.  Money and   
            monetary policy in general equilibrium.  31p.               
     9510   Dreze, Jacques H. & Rustichini, Aldo.  Moral hazard and     
            conditional preferences.  33p.                              
     9516   Florens, Jean-Pierre, Fougers, Denis & Mouchart, Michel.    
            Duration models.  47p.                                      
     9514   Gabszewicz, Jean J. & Garella, Paolo G.  "Buy it or make it 
            yourself?": a paradox.  6p.                                 
     9463   Ghosal, Sayantan.  Eductive stability in a two period       
            economy.  20p.                                              
     9472   Ghosal, Sayantan & Polemarchakis, Heracles.  Exchange and   
            optimality.  16p.                                           
     9465   Gonzalo, Jesus & Pitarakis, Jean-Yves.  Comovements in large
            systems.  44p.                                              
     9511   Heifetz, Aviad.  Common belief in monotonic epistemic logic.
             19p.                                                       
     9501   Heifetz, Aviad.  A note on consensus without common         
            knowledge.  6p.                                             
     9507   Jafarey, Saqib, Kaskarelis, Yannis & Maiouli, Natasha.  Wage
            determination and capital decisions in a dynamic monopoly   
            union model (with an application to Greek manufactur.  19p. 
     9513   Kerstens, Kris & Vanden Eeckhaut, Philippe.  Technical      
            efficiency measures on DEA and FDH: a reconsideration of the
            axiomatic literature.  35p.                                 
     9503   Koop, Gary, Osiewalski, Jacek & Steel, Mark F.J.  The       
            components of output growth: a cross-country analysis.  47p.
     9461   Koop, Gary, Steel, Mark F.J. & Osiewalski, Jacek.  Posterior
            analysis of stochastic frontier models using Gibbs sampling.
             20p.                                                       
     9470   Leite Monteiro, Manuel.  Redistributive policy with labour  
            mobility across countries.  23p.                            
     9506   Mertens, Jean-Francois.  The speed of convergence in        
            repeated games with incomplete information on one side.     
            15p.                                                        
     9478   Mintz, Jack & Tulkens, Henry.  Optimality properties of     
            alternative systems of taxation of foreign capital income.  
            32p.                                                        
     9462   Nesterov, Yuri E. & Todd, Michael J.  Self-scaled cones and 
            interior point methods in nonlinear programming.  42p.      
     9474   Polemarchakis, Heracles & Seccia, Giulio.  A role for       
            monetary policy when prices reveal information: an example. 
            9p.                                                         
     9512   Simos, Theodore.  Gaussian estimation of a continuus time   
            dynamic model with common stochastic trends.  16p.          
     9479   Sutter, Alain, Vanderbeck, Francois & Wolsey, Laurence.     
            Optimal placement of add/drop multiplexers: heuristic and   
            exact algorithms.  20p.                                     




                                                           PAGE   9

     9502   Van Zandt, Timothy.  Continuous approximations in the study 
            of hierarchies.  28p.                                       
     9466   Ventura, Luigi.  On a shareholder constrained efficient     
            criterion for strategic firms.  14p.                        
     9476   Zenou, Yves & Smith, Tony E.  Efficiency wages, involuntary 
            unemployment, and urban spatial structure.  31p.            

     MASSACHUSETTS INSTITUTE OF TECHNOLOGY.  Department of Economics.   

     95-8   Agion, Philippe & Tirole, Jean.  Formal and real authority  
            in organizations.  30p.                                     
     95-5   Angrist, Joshua D.  The economic returns to schooling in the
            West Bank and Gaza Strip.  35p.                             
     95-7   Bernard, Andrew B. & Jensen, J. Bradford.  Exporters, job   
            and wages in U.S. manufacturing: 1976-1987.  46p.           
     95-4   Bernard, Andrew B. & Jones, Charles I.  Productivity and    
            convergence across U.S. states and industries.  32p.        
     95-6   Diamond, Peter.  Managerial incentives: on the near         
            optimality of linearity.  19p.                              
     95-2   Hausman, Jerry A. & Leonard, Gregory K.  Superstars in the  
            NBA: economic value and policy.  44p.                       
     95-1   Holmstrom, Bengt & Tirole, Jean.  Financial intermediation, 
            loanable funds and the real sector.  34p.                   
     9511   Laffont, Jean-Jacques & Tirole, Jean.  Access pricing and   
            competition.  42p.                                          
     9510   Laffont, Jean-Jacques & Tirole, Jean.  A note on            
            environmental innovation.  8p.                              
     95-9   Laffont, Jean-Jacques & Tirole, Jean.  Pollution permits and
            compliance strategies.  35p.                                
     95-3   Smith, Lones.  Optimal job search in a changing world.  10p.

     UNIVERSITY OF MELBOURNE.  Department of Economics.                 

     452    Creedy, John.  Lifetime inequality and tax progressivity    
            with alternative income concepts.  19p.                     
     440    Hyde, C.E., Rausser, G.C. & Simon, L.K.  Regulating multiple
            polluters: deterrence and liability allocation.  39p.       
     451    Xiaoguang, Zhang.  Modelling economic transition: a two-tier
            price computable general equilibrium model of the Chinese   
            economy.  35p.                                              

     MICHIGAN STATE UNIVERSITY.  Department of Economics.               

     9405   Baillie, Richard R. & Baltagi, Badi H.  Prediction from the 
            regression model with one-way error components.  15p.       
     9404   Creane, Anthony.  Adverse selection, moral hazard and entry.
             23p.                                                       

     UNIVERSITY OF MINNESOTA.  Center for Economic Research.            

     279    Hurwicz, Leonid & Richter, Marcel K.  Implicit functions and
            diffeomorphisms without C1.  31p.                           

     UNIVERSITY OF MINNESOTA.  Economic Development Center.             

     95-2   Roe, Terry & Diao, Xinshen.  The strategic interdependence  
            of a shared water aquifer: a general equilibrium analysis.  
            30p.                                                        
                                                           PAGE  10

     95-3   Yeldan, Erinc.  Political economy perspectives on the 1994  
            Turkish economic crisis: a CGE modeling analysis.  54p.     

     MONASH UNIVERSITY.  Department of Economics.                       

     29/94  Fausten, Dietrich K. & Brooks, Robert D.  The balancing in  
            Australia's balance of payments accounts: an impressionistic
            view.  21p.                                                 
     27/94  Marjit, Sugata.  Transferring personalised knowledge or     
            Guru's dilemma.  12p.                                       
     28/94  Marjit, Sugata & Beladi, Hamid.  A game theoretic analysis  
            of South-South cooperation.  15p.                           
     26/94  Snape, Richard H.  Globalisation and internationalisation of
            the Australian economy: trade and trade policy.  19p.       

     NATIONAL BUREAU OF ECONOMIC RESEARCH.  Working Papers.             

     5041   Aizenman, Joshua.  Investment in new activities and the     
            welfare cost of uncertainty.  18p.                          
     5009   Auerbach, Alan J.  Tax projections and the budget: lessons  
            from the 1980s.  12p.                                       
     5037   Baldwin, Robert E.  The effect of trade and foreign direct  
            investment on employment and relative wages.  69p.          
     5015   Ball, Laurence, Elmendorf, Douglas W. & Mankiw, N. Gregory. 
            The deficit gamble.  47p.                                   
     5025   Baxter, Marianne.  International trade and business cycles. 
            69p.                                                        
     5019   Baxter, Marianne & Jermann, Urban J.  The international     
            diversification puzzle is worse than you think.  23p.       
     5022   Baxter, Marianne & King, Robert G.  Measuring business      
            cycles: approximate band-pass filters for economic time     
            series.  52p.                                               
     5047   Borenstein, Severin & Rose, Nancy L.  Do airlines in Chapter
            11 harm their rivals?: bankruptcy and pricing behavior in   
            U.S. airline markets.  23p.                                 
     5045   Boyd, John H. & Gertler, Mark.  Are banks dead?: or are the 
            reports greatly exaggerated?.  41p.                         
     5020   Brander, James A.  Strategic trade policy.  76p.            
     5021   Brander, James A. & Taylor, M. Scott.  International trade  
            and open access renewable resources: the small open economy 
            case.  37p.                                                 
     5042   Caballero, Ricardo J., Engel, Eduardo M.R.A. & Haltiwanger, 
            John.  Aggregate employment dynamics: building from         
            microeconomic evidence.  50p.                               
     5031   Campbell, John Y.  Some lessons from the yield curve.  33p. 
     5011   Cecchetti, Stephen G., Kashyap, Anil K. & Wilcox, David W.  
            Do firms smooth the seasonal in production in a boom?:      
            theory and evidence.  28p.                                  
     5012   Chaloupka, Frank J. & Wechsler, Henry.  Price, tobacco      
            control policies and smoking among young adults.  46p.      
     5048   Coe, David T., Helpman, Elhanan & Hoffmaister, Alexander W. 
            North-South R & D spillovers.  41p.                         
     5007   Edlin, Arron S. & Reichelstein, Stefan.  Holdups, standard  
            breach remedies, and optimal investment.  41p.              




                                                           PAGE  11

     5023   Eissa, Nada.  Taxation and labor supply of married women:   
            the Tax Reform Act of 1986 as a natural experiment.  51p.   
     5014   Farber, Henry S.  Are lifetime jobs disappearing?: job      
            duration in the United States 1973-1993.  57p.              
     5005   Farber, Henry S. & Gowa, Joanne.  Common interests or common
            polities?: reinterpreting the democratic peace.  39p.       
     5006   Frankel, Jeffrey A. & Rose, Andrew K.  A panel project on   
            purchasing power parity: mean reversion within and between  
            countries.  18p.                                            
     5034   Garber, Alan M.  To comfort always: the prospects of        
            expanded social responsibility for long term care.  42p.    
     5026   Glaeser, Edward L., Sacerdote, Bruce & Scheinkman, Jose A.  
            Crime and social interactions.  72p.                        
     5013   Glaeser, Edward I., Scheinkman, Jose A. & Shleifer, Andrei. 
            Economic growth in a cross-section of cities.  34p.         
     5033   Hayashi, Fumio.  Is the Japanese extended family            
            altruistically linked?: a test based on Engel curves.  19p. 
     5004   Holtz-Eakin, Douglas & Schwartz, Amy E.  Spatial            
            productivity spillovers from public infrastructure: evidence
            from state highways.  18p.                                  
     5010   He, Hua & Wang, Jiang.  Differential information and dynamic
            behavior of stock trading volume.  57p.                     
     5029   Horstmann, Ignatius J. & Markusen, James R.  Exploring new  
            markets: direct investment, contractual relations and the   
            multinational enterprise.  29p.                             
     5038   Kaestner, Robert.  The effects of cocaine and marijuana use 
            on marriage and marital stability.  37p.                    
     5008   Kaplow, Louis.  Regional cost-of-living adjustments in      
            tax-transfer schemes.  33p.                                 
     5046   Kimball, Miles S.  The quantitative analytics of the basic  
            neomonetarist model.  44p.                                  
     5027   Lo, Andrew W. & MacKinlay, A. Craig.  Maximizing            
            predictability in the stock and bond markets.  58p.         
     5036   Narkusen, James R. & Venables, Anthony J.  Multinational    
            firms and the new trade theory.  37p.                       
     5043   Mishkin, Frederic S.  The rational expectations revolution: 
            a review article of Preston J. Miller, ed "The Rational     
            Expectations Revoluti.  25p.                                
     5040   Mocan, H. Naci.  Quality adjusted cost functions for child  
            care centers.  13p.                                         
     5018   Mulligan, Casey B. & Sala-i-Martin, Xavier.  A labor income 
            based measure of the value of human capital: an application 
            to the states of the United States.  63p.                   
     5016   Mulligan, Casey B. & Sala-i-Martin, Xavier.  Measuring      
            aggregate human capital.  53p.                              
     5044   Neumark, David & Postlewaite, Andrew.  Relative income      
            concerns and the rise in married women's employment.  48p.  
     5024   Neumark, David, Bank, Roy J. & Van Nort, Kyle D.  Sex       
            discrimination in restraint hiring: an audit study.  33p.   
     5035   Raff, Daniel M.G. & Trajtenberg, Manuel.  Quality-adjusted  
            prices for the American automobile industry: 1906-1940.     
            54p.                                                        
     5028   Razin, Assaf & Yuen, Chi-Wa.  Capital income taxation and   
            long run growth: new perspectives.  32p.                    




                                                           PAGE  12

     5030   Ruhm, Christopher J.  Is high school employment consumption 
            or investment?.  45p.                                       
     5039   Sachs, Jeffrey D. & Warner, Andrew M.  Economic convergence 
            and economic policies.  47p.                                
     5017   Waldmann, Timothy, Bound, John & Schoenbaum, Michael.  The  
            illusion of failure: trends in the self-reported health of  
            the U.S. elderly.  46p.                                     
     5032   Wei, Shang-Jin & Parsley, David C.  Purchasing power        
            disparity during the floating rate period: exchange rate    
            volatility, trade barriers and other culp.  41p.            

     NATIONAL BUREAU OF ECONOMIC RESEARCH.  Technical Papers.           

     173    Diebold, Francis X. & Lopez, Jose A.  Modeling volatility   
            dynamics.  49p.                                             
     174    Diebold, Francis X., Ohanian, Lee E. & Berkowitz, Jeremy.   
            Dynamic equilibrium economies: a framework for comparing    
            models and data.  38p.                                      

     UNIVERSITY OF NEW SOUTH WALES.  School of Economics.               

     95-8   Crosby, Mark.  Monetary factors in the great depression in  
            Australia.  19p.                                            
     9511   Fox, Kevin.  Data set construction, specification of        
            functional form and the estimation of technical progress.   
            47p.                                                        
     95-9   Gans, Joshua S.  Industrialization policy and the big push. 
            34p.                                                        
     95-1   Gans, Joshua S. & Smart, Michael.  Majority voting with     
            single-crossing perferences.  22p.                          
     9513   Kakwani, Nanak C.  Minimum consumption basket and poverty in
            Belarus.  49p.                                              
     9512   Kakwani, Nanak.  Structural adjustment and performance in   
            living standards in developing countries.  39p.             
     95-3   Kakwani, Nanak C. & Lambert, Peter J.  Vertical equity and  
            horizontal inequality: a new approach to measurement.  14p. 
     95-4   Kakwani, Nanak C., Wagstaff, Adam & van Doorslaer, Eddy.    
            Socioeconomic inequalities in health: measurement,          
            computation, and statistical inference.  17p.               
     9510   Kingston, Geoffrey.  The foreign currency loans affair: an  
            economist's perspective.  32p.                              
     95-2   Leeves, Gareth D.  Recent evidence on the cyclical          
            properties of Australian gross flows of labour.  21p.       
     95-7   Milbourne, Ross.  Economic growth and convergence in open   
            economies.  20p.                                            
     9514   Monadjemi, Mehdi.  Empirical evidence on public expenditure 
            and private investment: a study of Australia and the United 
            States.  20p.                                               
     95-6   Podder, Nripesh.  On the relationship between the Gini      
            coefficient and income elasticity.  6p.                     
     95-5   Yang, Minxian.  On identifying permanent and transitory     
            shocks in VAR models.  9p.                                  

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

     1118   Bagwell, Kyle & Staiger, Robert W.  Collusion over the      
            business cycle.  52p.                                       

                                                           PAGE  13

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

     NORWEGIAN SCHOOL OF ECONOMICS & BUSINESS ADMINISTRATION.           

     3/95   Hakonsen, Lars & Mathiesen, Lars.  Towards a more           
            comprehensive cost measure for CO2 reductions.  34p.        
     2/95   Kristiansen, Eirik G.  R & D in markets with network        
            externalities.  29p.                                        
     4/95   Nilssen, Tore & Sorgard, Lars.  Sequential horizontal       
            mergers.  32p.                                              

     UNIVERSITY OF PENNSYLVANIA.  Center for Analytic Research in Econ. 

     9502   Besley, Timothy & Coate, Stephen.  An economic model of     
            representative democracy.  62p.                             
     9501   Citanna, Alessandro & Villanacci, Antonio.  Financial       
            innovation and expectations: endogenous incompleteness and  
            real indeterminacy.  19p.                                   
     9411   Krusell, Per, Quadrini, Vincenzo & Rios-Rull, Jose-Victor.  
            Politico-economic equilibrium and economic growth.  32p.    

     UNIVERSIDADE CATOLICA PORTUGUESA.  Departamento de Economia.       

     48     Barros, Fatima.  Asymmetry of information as a commitment in
            oligopoly.  27p.                                            
     52     Correia, Isabel & Teles, Pedro.  Money as an intermediate   
            good and the welfare cost of the inflation tax.  20p.       



                                                           PAGE  14

     47     Teles, Pedro.  Budget implications of monetary coordination 
            in the European Community.  40p.                            
     51     Teles, Pedro.  The virtues of a parallel currency regime.   
            40p.                                                        

     PRINCETON UNIVERSITY.  International Finance Section-Essays.       

     194    Bini-Smaghi, Lorenzo, Padoa-Schioppa, Tommaso & Papadia,    
            Francesco.  The transition to EMU in the Maastrict Treaty.  
            70p.                                                        

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

     1073   Joseph, Kissan & Kalwani, Manohar U.  The impact of         
            environmental uncertainty on the design of salesforce       
            compensation plans.  23p.                                   
     1074   Tomak, K. & Zaman, A.  A note on the Goldfeld Quandt test.  
            12p.                                                        

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

     9503   LeBourdais, Celine, Lefebvre, Pierre & Merrigan, Philip.    
            Welfare, conjugal unions and single motherhood in Canada:   
            estimates from a hazard model.  26p.                        
     9504   Lefebvre, Pierre & Merrigan, Philip.  Welfare benefits and  
            incomes of Canadian families: a dynamic analysis.  25p.     

     QUEEN'S UNIVERSITY.  Institute for Economic Research.              

     918    MacKinnon, James G.  Numerical distribution functions for   
            unit root and cointegration tests.  23p.                    
     919    MacKinnon, James G. & Smith, Anthony A.  Approximate bias   
            correction in econometrics.  25p.                           
     917    Shi, Shouyong.  Credit and money in a search model with     
            divisible commodities.  37p.                                
     920    Takahashi, Harutaka.  The von Neumann facet and optimal     
            cycles with small discounting.  20p.                        
     921    Takahashi, Harutaka.  The von Neumann facet and the turnpike
            properties for a neoclassical optimal growth model with many
            capital goods I.  18p.                                      

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

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



                                                           PAGE  15

     9417   Rosendorff, B. Peter.  International cooperation and the    
            power of domestic interests.  30p.                          

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

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

     PRINCETON UNIVERSITY.  International Finance Section-Reprints.     

     28     Kenen, Peter B.  Ways to reform exchange rate arrangements. 
            15p.                                                        


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