Contents of IREF: Volume 5

Articles

Persistent Exchange-Rate Misalignment, Non-Economic Fundamentals and Exchange Rate Target Zones
Zehn Zhu

Cointegration and the Term Structure: A Multi-Country Comparison
Pierre L. Siklos, Mark E. Wohar

Allocative Efficiency and Financial Deregulation
Kanhaya L. Gupta, Robert Lensink

Behavior of International Stock Return Distributions: A Simple Test of Functional Form
Vihang Errunza, Kedreth Hogan, Sumon C. Mazumdar

Interrelationship Among the Price Indexes of the NYSE, AMEX, and OTC
Marcus M. C. Chung, Ki C. Han, Maurice K. S. Tse

The Optimal Uniform and Discriminatory Taxes or Tariffs of Third-Degree Price Discrimination
Chin W. Yang, Shao P. Peng, Jen F. Lee

Labor Turnover Cost and the Properties of the Heckscher-Ohlin Model
Jamal A. Rashed

Money Market Mutual Fund Maturity and Interest Rates: A Note
Mohsen Bahmani-Oskooee

Book Review

Economic Integration Between Unequal Partners
Theodore Georgapoulos, Christos Paraskevopoulus, and John Smithin
Reviewed by Farrokh K. Langdana

Articles

International Trade, Real Wages, and Technical Progress: The Specific-Factors Model
Ronald W. Jones

Predictability in Real Exchange Rates: Evidence from Parametric Hazard Models
Steven J. Cochran and Robert H. DeFina

Adding Features to a Product: Micro-Economic Model
George F. Tannous and Paul M. Mangiameli

An Examination of Long-Term Dependence in Black Market Exchange Rates in Eight Pacific-Basin Countries
Ming-Shiun Pan, Y. Angela Liu, and Kam C. Chan

Real Exchange-Rate Volatility and Trade Flows: The Experience of Eight European Economies
A. C. Arize

Arbitrage, Carrying Costs, and Inflation: A Reexamination of Market Efficiency in Treasury Bill Futures
James Wuh Lin

Book Review

International Finance: Contemporary Issues
Dilip K. Das
Reviewed by Patricia H. Hall

Articles

Production Bottlenecks and Congestion Externatilities During the Transition to a Market Economy
Joshua Aizenman and Peter Isard

New York Stock Exchange Trading Halts and Volatility
Wai-Ming Fong

An Analysis of Capital Guaranteed Funds
James A. Bennett, Andrew H. Chen, and Paul McGuiness

Product-Market Openness and Dynamic Responses to Exogenous Shocks and Policies in a Two-Country, Two-Goods Model
Athina Zervoyianni

Taxes and Dividend Policy
Chunchi Wu

The Impact of Credit Line Announcements on Stock Prices: Analysis of Stated Reasons and Financial Risk
Nikos I. Floros and George P. Tsetsekos

On Currency Substitution and Money Demand Instability
Ali F. Darrat, Ahmed Al-Mutawa, and Omar M. Benkato

Book Review

Exploring General Equilibrium
Fisher Black
Reviewed by Jim Dolmas

Articles

Can Regional Blocs be a Stepping Stone to Global Free Trade? A Political Economy Analysis
Shang-Jin Wei and Jeffrey A. Frankel

On Optimal Control of Income Generating Activities and the Value of Flexible Production Design
Trond E. Olsen and Gunnar Stensland

Monetary Confidence and Asset Prices
Teh-Ming Huo

The Pricing of Foreign Exchange Risk: Evidence from ADRs
Youguo Liang and Mbodja Mougoue

Short-run and Long-run Dynamic Linkages Among International Stock Markets
M. Kabir Hassan and Atsuyuki Naka

A Simultaneous Analysis of Exchange-Rate Passthrough into Prices of Imperfectly Substitutable Domestic and Import Goods
Robert M. Feinberg

Seasoned Equity Offerings by All-Equity Firms
Aigbe Akhigbe and T. Harikumar

Trade Liberalization and the Mexican Steel Industry
Dale B. Truett and Lila J. Truett

Book Review

Trade and Wages--Leveling Wages Down?
Edited by Jagdish Bhagwati and Marvin H. Kosters
Reviewed by Silke Fabian Reeves