ontents of IREF: Volume 1

Volume 1, Number 1

Some Implications of Traded Options on the Pricing of the Underlying Stock
Jin-Chan Duan, Arthur F. Moreau, and C.W. Sealey

Transfers, Structural Change, Welfare, and Unemployment in a North- South Framework
Bharat R. Hazari and Pasquale M. Sgro

Credit Risk Measurement
Jacob Paroush

Is Relative Risk Aversion Greater Than One?
E. Kwan Choi and Carmen F. Menezes

Discount Rate Policy Under Alternative Operating Procedures: An Empirical Investigation
Craig S. Hakkio and Douglas K. Pearce

Capital Gains Preference and the Prices of Dividend Paying Securities: A Test of the Dividend Tax Aversion Hypothesis
Laurence E. Blose and John D. Martin

Trade Announcements, Exchange Rates, and Interest Rates
Keivan Deravi, P. Gregorowicz, and Charles E. Hegji

Book Review

Foreign Direct Investment in the United States
Edward M. Graham and Paul R. Krugman
Reviewed by T. Chotigeat

Volume 1, Number 2

Non-Reversed Investment and Borrowing, Transaction Costs, and Covered Interest Parity
Maurice D. Levi

Imported Materials Prices, Urban Unemployment, and Welfare
Chi-Chur Chao and Eden S.H. Yu

Managerial Compensation and the Corroboration Effect of Earnings and Dividend Announcements
T. Harikumar and K.C. John Wei

Modeling the Prime Rate: An Ordered-Response Approach
Shawn M. Forbes and Chris W. Paul, II

Investigation of the Long-Run Quality Theory
Georgios Karras

Foreign Exchange Futures Options: A Parity-Based Test of Learning Effects
Atipol Bhanich Supapol and Jacques A. Schnabel

Impact of the Debt Reduction Plan on the Value of LDC Debt
Jeff Madura and Emilio R. Zarruk

Velocity and Money Growth Variability: Some Further Evidence
James E. Payne

Volume 1, Number 3

Optimum Tariff and Production Externalities
Jai-Young Choi and Eden S.H. Yu

A Bilinear Paradigm Test of the Arbitrage Pricing Theory
Eben Otuteye

An Econometric Study on the Yen-Pound Exchange Rate
Ashok Parikh

Immunizing Bond Portfolios in a Multiple Term Structure Economy
Sanjay K. Nawalkha and Nelson J. Lacey

Petroleum Demand, Income Feedback Effects, and OPECþs Pricing Behavior: Some Theoretical and Empirical Results
A.F. Darrat, O.W. Gilley, and D.J. Meyer

Forecasting Accuracy of Alternative Dividend Models
Cheng-Few Lee, K. Thomas Liaw, Chunchi Wu

Industrial Structure, Factor Intensity and the Leontief Paradox
Kenneth E. Austin

Book Review

Antitrust Economics on Trial: A Dialogue on the New Laissez-Faire
Jean Blanchard and Stanley Fischer
Reviewed by Ralph Frasca

Volume 1, Number 4

The Problem of Social Costs Revisited-The þEfficiencyþ of Laissez-Faire over Pigouvian Interventions
Franz Wirl

The Cost of Capital for a Multinational Corporation
James S. Ang and Tsong-Yue Lai

Do Stock Prices Follow Random Walk? Some International Evidence
Unro Lee

A Maximum Likelihood Approach to Estimating Dynamic Models with Unobserved Independent Variables
Paul E. Hodges

Production Decisions in the Presence of Options
Yaffa Machnes

Do Concentrated Shareholdings Mitigate the Agency Problem of Free Cash Flow? Some Evidence
Gerald Garvey

Technology and Price in a Non-Cooperative Framework
Tarun Kabiraj and Sugata Marjit

Deficits and Interest Rates: An Analysis Examining Some Neglected Variables
Richard J. Cebula, Chao-shun Hung, Neela Manage

Book Review

Geography and Trade
Paul Krugman
Reviewed by Kaz Miyagiwa