Contents of IREF: Volume 4

Articles

The Failure of Strategic Industrial Policies Due to Manipulation by Firms
Larry S. Karp and Jeffrey M. Perloff

Conversion-Forcing Security Calls: Wealth Transfers Revisited
L. Paige Fields, Eric L. Mais, and William T. Moore

The Composition of Stock Price Indices and the Excess Volatility Puzzle
Burkhard Drees and Bernhard Eckwert

Bilateralism on Balance
Michael Jones

The Impact of Merger Outcome, Bid Order, Payment Method, and Managerial Resistance on Stock Returns to Bidders in Multiple-Bidder Merger Contests
Zahid Iqbal and Shekar Shetty

The Distribution of Currency Futures Price Changes: A Two-Piece Mixture of Normals Approach
Ming-Shiun Pan, Kam C. Chan, and Chi-Wing Fok

Quotas, GNP, and Labor Supply in a Small Open Economy
Michael Ka-yiu Fung

Book Reviews

National Bureau of Economic Research (NBER): Macroeconomic Annual 1991
Olivier Jean, Blanchard & Stanley Fischer
Reviewed by Munir A.S. Choudhary

International Economic Integration
Miroslav N. Jovanovic
Reviewed by Jai-Young Choi

Japanese Economic Development: Theory and Practice
Penelope Francks
Reviewed by R.S. Rathinasamy

Articles

Anticipated Future Shocks and Exchange Rate Pass-Through in the Presence of Reputation
David C. Parsley

Variance of ADR Returns: Information Effect and Influence of Trading in the U.S. Market
Jonwoo Park

Covered Interest Parity and International Capital Market Efficiency
William J. Crowder

Real vs. Nominal Stock Return Seasonalities: Empirical Evidence
Beni Lauterbach and Meyer Ungar

Flexible Exchange Rates, Capital Mobility, and Monetary Instruments of Asymmetric Economies
George W.L. Hui

Tourism and Welfare in the Presence of Pure Monopoly in the Non-Traded Goods Sector
Bharat R. Hazari and Charanjit Kaur

Bulls, Bears and Value Line's Rankings
Ronald L. Moy, Ahyee Lee, and Cheng F. Lee

Are Mortgage Specialized Thrifts Viable? An Empirical Investigation
Iftekhar Hasan, Tanweer Hasan and Robert Pickeral

Book Reviews

International Productivity and Competitiveness by Bert G. Hickman
Bert G. Hickman
Reviewed by Gerhard Clemenz

Trade Flows and Trade Policy After "1992"
L. Alan Winters
Reviewed by James C. Hartigan

Articles

Monetary Shocks and Exchange Rate Dynamics with Informal Currency Markets
Pierre-Richard Agénor

Stock Market Crash Behavior of Screen-Sorted Portfolios
Lawrence Kryzanowski, Lorne Switzer, Li Jiang

The Impact of Federal Government Budget Deficits on Economic Growth in the United States: An Empirical Investigation, 1955-1992
Richard J. Cebula

Diversification, Collateral and Economies of Scale in Banking: Lessons from a Continuous-Time Portfolio Approach
Doris Neuberger

Foreign Exchange Returns over Short and Long Horizons
Thomas C. Chiang, Christine X. Jiang

Companies' Investment Decisions in the NICs: Evidence from Taiwan and South Korea
Shaw Chen, Gopa Chowdhury

Book Reviews

Microstructure of World Trading Markets
Hans R. Stoll
Reviewed by Raj Aggarwal

Readings in International Business
Robert Z. Aliber and Reid W.Click
Reviewed by Ike Mathur

Articles

Venture Capital: Structure and Incentives
Yoram Landskroner, Jacob Paroush

LDC Default Probabilities and U.S. Commercial Banks: An Empirical Investigation
Gary M. Woller, Kerk Phillips

Exchange Rate Pass-Through in the U.S. Market: A Cross-Country and Cross-Product Investigation
Jiawen Yang

International Transmission of Monthly Changes in Equity Values
Steven V. Mann, William T. Moore, Pradipkumar Ramanlal

Is There an Election Cycle in American Stock Returns?
Manfred Gartner, Klaus W. Wellershoff

Exchange Rate Volatility and the Demand for Money in the U.S.
James M. McGibany, Farrokh Nourzad

Book Reviews

The Deal Decade: What Takeovers and Leveraged Buyouts Mean for Corporate Governance
Margaret Blair
Reviewed by Mary S. Schranz

Banking, Finance and Monetary Policy in Singapore
Dudley G. Luckett, David L. Schulze, Raymond W. Y. Wong
Reviewed by Christopher Lingle