Contents of IREF: Volume 14

Articles

A Model of Monetary Unification Under Asymmetric Information
Teruyoshi Kobayashi

Does the Forward Premium Anomaly Depend on the Sample Period Used or on the Sign of the Premium?
Su Zhou and Ali M. Kutan

The Effects of Japanese Foreign Exchange Market Interventions on the Yen/U.S. Dollar Exchange Rate Volatility
George Stadtmann, Christian Pierdzioch and Michael Frenkel

Exreme Value Theory and Extremely Large Electricity Price Changes
Hans NE Byström

Inflation-Rate Volatility and Money Demand: Evidence from Less Developed Countries
A.C. Arize, John Malindretos, Elias C. Grivoyannis

Asset Pricing and Systematic Liquidity Risk: An Empirical Investigation of the Spanish Stock Market
Gonzalo Rubio, Miguel A. Martinez and Belén Nieto

Articles

Immigration vs.Outsourcing: Effects on Labor Markets
Ronald W. Jones

Financial E-Commerce Under Capital Regulation and Deposit Insurance
Jyh-Horng Lin and Rosemary Jou

Money, Interest, and Prices: Some International Evidence
Magda Kandil

A Ergodic Theory of Venture Capital Solicitation
Edmund H. Mantell

The Productivity-Wage Gap and the Recent Stock Price Increase: An Analysis
Jamal A. Rashed and Sabarna K. Samanta

A Cointegration Approach to the Lead-Lag Effect Among Size-Sorted Equity Portfolios
Angelos Kanas and Georgios P. Kouretas

FTAA and Columbia: Income Redistribution Across Labor Groups
Henry Thompson and Hugo Toledo

Sources of Exchange-Rate Volatility: Impulses or Propagation?
Georgios Karras, Jin Man Lee, and Houston Stokes

Book Reviews

Globalization and Its Discontents
J.E. Stiglitz
Reviewed by Amitrajeet A. Batabyal

Towards a New Paradigm for Monetary Economics
Stiglitz and Greenwald
Reviewed by Shawn Ni

Articles

Introduction: Outsourcing and Fragmentation: Blessing or Threat
Henryk Kierzkowski

Globalization, Globalisation: Trade, Technology, and Wages
Wilfred J. Ethier

A Trade Theorist's Take on Skilled-Labor Outsourcing
Alan Deardorff

Fragmented Trade and Manufacturing Services - Examples for a Non-convex General Equilibrium
Henry Wan, Jr.

Outsourcing and Technology Spillovers
Ngo Van Long

What Does Evidence Tell Us About Fragmentation and Outsourcing?
Ronald Jones, Henryk Kierzkowski, and Chen Lurong

Two-Dimensional Fragmentaion in East Asia: Conceptual Framework and Empirics
Fukunari Kimura, and Mitsuyo Ando

Labor Market Effects of Outsourcing Under Industrial Interdependence
Hartmut Egger and Peter Egger

The Labor Demand Effects of International Outsourcing: Evidence from Plant-level Data
Holger Gorg, and Aoife Hanley

Production Disintegration and Integration of Central Europe into Global Markets
Bartlomiej Kaminski and Francis Ng

Articles

On the Coexistence of Different Licensing Schemes
Debapriya Sen

Effects of Electronic Trading on the Hang Seng Index Futures Market
Joseph K.W. Fung, Donald Lien, Yiuman Tse, and Yiu Kuen Tse

Variable Labour Supply, Specialisation-Based External Economies, and Capital Flow
Sajid Anwar

Price Limits on a Call Auction Market: Evidence from the Warsaw Stock Exchange
Harold Henke, and Svitlana Voronkova

Analysis of Price Competition and Strategic Implications for Heterogeneous Market Structure
Se-Hak Chun, and Jae-Cheol Kim

Two Centuries of Bull and Bear Market Cycles
Liliana Gonzalez, John G. Powell, Jing Shi, and Antony Wilson

Long-Run Abnormal Performance Following Convertible Preference Share and Convertible Bond Issues: New Evidence from the United Kingdom
Abhay Abhyankar, and Keng-Yu Ho

A Theoretical Perspective on Managed Rangelands and Irreversible States
Shawn M. Rohlin, and Amitrajeet A. Batabyal

Book Reviews

India's Emerging Economy: Performance and Prospects in the 1990's and Beyond
Kaushik Basu
Reviewed by S. Subramanian

Managing European Union Enlargement
Helge Berger and Thomas Moutos
Reviewed by Carsten Hefeker