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- 18-90 Evaluating the Performance of Foreign Exchange Hedges
by Jack D. Glen
- 18-89 Saving in the Twenty First Century
by Jean Crockett
- 18-88 Are Loan Sales Really Off-Balance Sheet
by Gary Gorton & George Pennacchi
- 18-87 Performance of Currency Portfolios Chosen by a Bayesian Technique: 1967-1985
by Bernard Dumas & Betrand Jacquillat
- 18-86 Rational Ponzi Games
by Stephen A. O'Connell & Stephen P. Zeldes
- 18-85 Valuation of Currency Denomination in Long-Term Debt Financing and Debt Refinancing: A Portfolio Model
by Laurent Jacque & Pascal Lang
- 18-84 Optimal Financial Structure in Exchange Economies
by Joseph Haubrich
- 18-83 A Critical Reexamination of the Empirical Evidence on the Arbitrage Pricing Theory
by Phoebus Dhrymes & Irwin Friend & Bulent Gultekin
- 18-82 The Neutrality of the Real Equilibrium Alternative Financing of Government Expenditures
by Simon Benninga & Aris Protopapadakis
- 18-81 Aggregate Versus Disaggregate Models or Account Numbers: Empirical Results
by Nicholas J. Gonedes & John Twombly
- 18-80 The Determinants of the Variability of Stock Market Price
by S. Grossman & R. Shiller
- 18-79 Bank Reserves and Macroeconomic Stability
by Jeremy J. Siegel
- 18-77 Diversification and Asset Valuation in an International Capital Market
by Etienne Losq
- 18-76 A Determination of the Risk of Ruin
by Joseph D. Vinso
- 18-74 The Micro Foundations of Equilibrium in a Monetary Economy: a Transactions Cost Approach
by Anthony Santomero
- 18-73 Security Analysis in Efficiency Markets
by Daniel Rie
- 18-72 Risk, Investment Strategy and the Long-Run Rates of Return
by Marshall E. Blume & Irwin Friend
- 17-99 Equilibrium Mispricing in a Capital Market with Portfolio Constraints
by Suleyman Basak & Benjamin Croitoru
- 17-98 Risk Arbitrage in Takeovers
by Francesca Cornelli & David D. Li
- 17-95 Bank Capital Regulation in General Equilibrium
by Gary Gorton & Andrew Winton
- 17-94 Limiting Differences Between Forward and Futures Prices in a Lucas Consumption Model
by Zvi Wiener & Simon Benninga & Aris Protopapadakis
- 17-93 Estimating Conditional Expectations When Volatility Fluctuates
by Robert F. Stambaugh
- 17-92 A Direct Test of the Mixture of Distributions Hypothesis: Measuring the Information Flow Throughout the Day
by Mathew Richardson & Tom Smith
- 17-91 The Sustainability of Budget Deficits in a Stochastic Economy (Revision of 6-90) (Reprint 014)
by Henning Bohn
- 17-90 The Sustainability of Budget Deficits with Lump-Sum and with Income-Based Taxation
by Henning Bohn
- 17-89 Trading Technology and Financial Market Stability
by Sanford J. Grossman
- 17-88 An Empirical Investigation of Bond Prices and Inflation
by George G. Pennacchi
- 17-87 Risk and Return Characteristics of Lower Grade Bonds
by Marshall E. Blume & Donald B. Keim
- 17-86 Risk and Return Characteristics of Lower-Grade Bonds
by Marshall E. Blume & Donald B. Keim
- 17-85 Budget Deficit, External Official Borrowing, and Sterilized Intervention Policy in Foreign Exchange Markets
by Alessandro Penati
- 17-84 Partial Deposit, Bank Runs and Private Deposit Insurance
by George Pennacchi
- 17-83 Stock Market Seasonality: Internal Evidence
by Mustafa Gultekin & Bulent Gultekin
- 17-82 Spot and Futures Prices and the Law of One Price
by Aris Protopapadakis & Hans R. Stoll
- 17-81 The Insolvency of Financial Institutions: Assessment and Regulatory Disposition
by Jack Guttentag & Richard Herring
- 17-80 Corporate Financial Policy in Markets with Short Sale Restrictions
by Simon Benninga
- 17-79 Commodity Futures and Spot Price Determination and Hedging in Capital Market Equilibrium
by Hans R. Stoll
- 17-77 General Equilibrium with Financial Markets: Existence, Uniqueness and the Implications for for Corporate Finance
by Simon Benninga
- 17-76 Transactions and Costs in the Agency Bond Market
by John S. Bildersee
- 17-74 The Forward Market and Interest Rates in the Eurocurrency and National Money Markets
by Richard J. Herring & Richard C. Marston
- 17-73 Return, Risk and Arbitrage
by Stephen A. Ross
- 17-72 Improving the Selection of Credit Risks: An Analysis of a Commercial Bank Minority Lending Program
by Robert H. Edelstein
- 16-99 Comparing Asset Pricing Models: An Investment Perspective
by Lubos Pastor & Robert F. Stambaugh
- 16-98 Are Transactions and Market Orders More Important than Limit Orders in the Quote Updating Process?
by Ron Kaniel & Hong Liu
- 16-95 Stock Market Efficiency and Economic Efficiency: Is There a Connection?
by James Dow & Gary Gorton
- 16-94 Are Target Managers Afraid of Section 16b? (Revised: 13-95)
by Anup Agrawal & Jeffrey F. Jaffe
- 16-93 A Tale of Two Cities: Racial and Ethnic Geographic Disparities in Home Mortgage Lending in Boston and Philadelphia
by Michael H. Schill & Susan M. Wachter
- 16-92 Finite Bubbles with Short Sale Constraints and Asymmetric Information (Reprint 042)
by Franklin Allen & Stephen Morris & Andrew Postlewaite
- 16-91 Optimal State-Contingent Capital Taxation: When is there and Indeterminancy?
by Henning Bohn
- 16-90 Trading Mechanisms in Securities Markets
by Ananth N. Madhavan
- 16-89 On Cash-In-Advance Models of Money Demand and Asset Pricing (Reprint 007)
by Henning Bohn
- 16-88 Consumption and Liquidity Constraints: An Empirical Investigation
by Stephen P. Zeldes
- 16-87 Incomplete and the Endogeneity of Central Banking
by Gary Gorton
- 16-86 Optimal Contracts for Security Analysts and Portfolio Managers
by Richard Kihlstom
- 16-85 Deposit Deregulation and Monetary Policy
by Anthony M. Santomero & Jeremy J. Siegel
- 16-84 On the Optimality of Portfolio Insurance
by Simon Benninga & Marshall Blume
- 16-82 Expectations of Real Interest Rates and Aggregate Consumption: Synthesis and Tests
by Wayne Ferson
- 16-81 Some Indirect Evidence on Effective Capital Gains Tax Rates
by Aris Protopapadakis
- 16-80 Heterogeneous Information and the Theory of the Business Cycle
by S. Grossman & L. Weiss
- 16-79 The Capital Asset Pricing Model and Inflation and the Investment Horizon: The Israeli Experience
by Haim Levy
- 16-77 Implicit Consumer Valuations, Bankruptcy, the Value of the Firm and Dividend Policy
by Simon Benninga
- 16-76 Capital Budgeting and Portfolio Theory
by John S. Bildersee
- 16-75 The Value of Information in Impersonal and Personal Markets
by Jeffrey F. Jaffe & Mark Rubinstein
- 16-74 The Inflationary Impact of Excess Demand in Agriculture
by Susan M. Wachter
- 16-73 A Generalized Theory of Velocity
by John M. Mason
- 16-72 Dividend Policy Under Imperfect Capital Markets: Revised and Extended Results
by Jean Crockett
- 15-99 Imperfect Market Monitoring and SOES Trading
by Thierry Foucalt & Ailsa Roell & Patrik Sandas
- 15-98 A Theory of Dividends Based on Tax Clienteles
by Franklin Allen & Antonio Bernardo & Ivo Welch
- 15-96 Executive Compensation and the Optimality of Managerial Entrenchment
by Gary Gorton & Bruce D. Grundy
- 15-95 Options, the Value of Capital, and Investment
by Andrew B. Abel & Avinash K. Dixit & Janice B. Eberly & Robert S. Pindyck
- 15-94 Corporate Financial Structure, Incentives and Optimal Contracting (Reprint 049)
by Franklin Allen & Andrew Winton
- 15-93 Multifactor Models Do Not Explain Deviations From the CAPM (Revised: 21-94)
by Craig A. MacKinlay
- 15-92 Stock Markets and Resource Allocation (Reprint 036)
by Franklin Allen
- 15-91 Risks and Returns of Low-Grade Bonds: An Update (Reprint 027)
by Marshall E. Blume & Donald B. Keim
- 15-90 Intertemporal Price Discovery by Market Makers: Active versus Passive Learning
by Chris J. Leach & Ananth N. Madhavan
- 15-89 Volatility Patterns of Fixed Income Securities
by Marshall E. Blume & Donald B. Keim
- 15-88 Stock Prices Under Time-Varying Dividend Risk: An Exact Solution in an Infinite-Horizon General Equilibrium Model
by Andrew Abel
- 15-87 Announcement Effects of New Equity Issues and the use of Intraday Price Data
by Michael J. Barclay & Robert Litzenberger
- 15-86 Maximum Likelihood Estimation of Generalized Ito Processes with Discretely Sampled Data
by Andrew W. Lo
- 15-85 Predicting Returns in the Stock and Bond Markets
by Donald B. Keim & Robert F. Stambaugh
- 15-84 Government Debt, the Money Supply, and Inflation; Theory and Evidence for Seven Industrialized Economies
by Aris Protopapadakis & Jeremy Siegel
- 15-83 A Note on 'Why do Companies Pay Dividends?'
by Isik Inselbag
- 15-82 The Social Costs of Unit Banking Restrictions
by Mark J. Flannery
- 15-81 Insider Holdings and the Pricing of Initial Public Offerings
by Jay Ritter
- 15-80 An Analysis of the Principal-Agent Problem
by Sanford Grossman & Oliver Hart
- 15-79 Leasing, Borrowing and Financial Risk
by Haim Levy & Marshall Sarnat
- 15-77 Regulation of Bank Capital and Portfolio Risk
by Michael Koehn & Anthony M. Santomero
- 15-76 Valuation and the Risk of Ruin
by Joseph D. Vinso
- 15-75 Bank Liability Management and the Efficiency of Financial Intermediation
by Paul Smith
- 15-74 Dealer Inventory Behavior: An Empirical Investigation of NASDAQ Stocks
by Hans R. Stoll
- 15-73 Notes on the Theory of Optimal Public Investment in Pollution Control
by Robert H. Edelstein
- 15-72 The Valuation of Convertible Bonds: A Further Analysis
by James Walter & Augustin Que
- 15-00 Does the Internet Increase Trading? Evidence from Investor Behavior in 401(K) Plans
by James J. Choi & David Laibson & Andrew Metrick
- 14-99 Adverse Selection and Competitive Market Making: Empirical Evidence from a Pure Limit Order Market
by Patrik Sandas
- 14-98 Eighths, Sixteenths and Market Depth: Changes in Tick Size and Liquidity Provision on the NYSE
by Michael A. Goldstein & Kenneth A. Kavajecz
- 14-96 Financial Markets, Intermediaries, and Intertemporal Smoothing (Revision of 5-95) (Reprint 061)
by Franklin Allen & Douglas Gale
- 14-95 Testing Option Pricing Models
by David S. Bates
- 14-94 Dividend Policy (Reprint 050)
by Franklin Allen & Roni Michaely
- 14-93 A Unified Model of Investment Under Uncertainty
by Andrew B. Abel & Janice C. Eberly
- 14-92 Stocks are a Good Hedge for Inflation (In the Long Run)
by Jacob Boudoukh & Matthew Richardson
- 14-91 Limited Market Participation and Volatility of Asset Prices (Revised: 2-92)
by Franklin Allen & Douglas Gale
- 14-90 The Real Exchange in the Short, Medium and Long Run
by Jack D. Glen
- 14-89 The Valuation of Callable Bonds
by Marshall E. Blume & Donald B. Keim
- 14-88 Assessing Dynamic Efficiency: Theory and Evidence
by Andrew Abel & Gregory N. Mankiw & Lawrence H. Summers & Richard Zeckhauser
- 14-87 Loan Sales, Recourse, and Reputation: An Analysis of Secondary Loan Participations
by Gary B. Gorton & Joseph G. Haubrich
- 14-86 The Role of Risk Aversion in the Determination of Equilibrium Stock Prices and their Variability
by K. Y. Kim
- 14-85 Dividend Yields and Stock Returns: Implications of Abnormal January Returns
by Donald B. Keim
- 14-84 Protopapadakis, Aris/Stoll, Hans = The Law of One Price in International Commodity markets: A Reformulation and some Formal Tests
by Reformulation & some Formal Tests
- 14-83 Expectations of Real Interest Rates and Aggregate Consumption: Synthesis and Tests
by Wayne Ferson
- 14-82 The Use of 'Alphas' to Improve Investment Performance
by Marshall E. Blume
- 14-81 The Impact of Inflation Upon Corporate Taxation
by Joel Hasbrouck
- 14-80 Majority Choice Determination of the Level of Non-Neutral Government Debt
by Simon Benninga
- 14-79 Optimal Multi-Period Insurance Companies
by Itzhak Venezia & Haim Levy
- 14-77 The Demand for Money and the Uncertainty of Interest Rates and Prices
by J. M. Mason
- 14-76 Incomes' Policy and Tax Rate in the U.K
by Norman A. Blackwell & Anthony M. Santomero
- 14-75 The Value of the Firm Under Regulation
by Jeffrey F. Jaffe & Gershon Mandelker
- 14-74 The Two Tier Stock Market - Its Implications for Portfolio Management
by Marshall E. Blume
- 14-73 An Application of the Decomposition Principle to Financial Decision Models
by James R. Morris
- 14-72 Single Parameter Risk Measures and Multiple Sources of Risk: A Re-Examination of the Data Based on Changes in Determinants of Price and Beta Over Time (Revised)
by Daniel Rie
- 14-00 Catching Up with the Joneses: Heterogeneous Preferences and the Dynamics of Asset Prices
by Yeung Lewis Chan & Leonid Kogan
- 13-99 Asset Pricing Models: Implications for Expected Returns and Portfolio Selection
by A. Craig MacKinlay & Lubos Pastor
- 13-98 Understanding the Nature of the Risks and the Source of Rewards to Momentum Investing
by Bruce D. Grundy & J. Spencer Martin
- 13-97 The Information Value of Bond Ratings
by Doron Kliger & Oded Sarig
- 13-96 The Declining Credit Quality of US Corporate Debt: Myth or Reality (Revised: 3-98)
by Marshall E. Blume & Felix Lim & Craig A. MacKinlay
- 13-95 Does Section 16b Deter Insider Trading by Target Managers? [Are Target Managers Afraid of Section 16b?] (Revision of 16-94) (Reprint 048)
by Anup Agrawal & Jeffrey F. Jaffe
- 13-94 A Welfare Comparison of the German and U.S. Financial Systems (Reprint 047)
by Franklin Allen & Douglas Gale
- 13-92 Temporary Components of Stock Prices: A Skeptic's View (Reprint 032)
by Matthew Richardson
- 13-91 The Behavior of Stock Returns Around N.B.E.R. Turning Points: An Overview (Revision of 5-91)
by Jeremy J. Siegel
- 13-90 Stock Price Manipulation (Reprint 025)
by Franklin Allen & Douglas Gale
- 13-89 Birth, Death and Taxes
by Andrew B. Abel
- 13-88 Endogenous Government Spending & Ricardian Equivalence (Revised: 9-90)
by Henning Bohn
- 13-87 A Simple Specification Test of the Random Walk Hypothesis
by Andrew W. Lo & Craig A. MacKinlay
- 13-86 On the Assessment of Return Generating Models (Revision of 13-86)
by M. E. Blume & M. Gultekin & B. Gultekin
- 13-84 Government Bond Returns, Measurement of Interest Rate Risk and the Arbitrage Pricing Theory (Revision of 21-83)
by Bulent N. Gultekin & Richard Rogalski
- 13-83 Alternative Duration Specifications and the Measurement of Basis Risk: Empirical Tests
by Bulent Gultekin & Richard Rogalski
- 13-82 The Real Exchange Rate, the Current Account and the Speed of Adjustment
by Francesco Giavazzi & Wyplosz
- 13-81 On the Exclusion of Assets from Tests of the Two-Parameter Model: A Sensitivity Analysis
by Robert Stambaugh
- 13-80 Effect of Inflation on the Profitability and Valuation of U.S. Corporations
by Irwin Friend & Joel Hasbrouck
- 13-79 Can State Bank Examination Data Replace FDIC Examination Visits
by Mark J. Flannery
- 13-78 Factor Price Equalization Under Uncertainty
by Bernard Dumas
- 13-77 The Pricing of Security Dealer Services: An Empirical Study of NASDAQ Stocks
by Hans R. Stoll
- 13-76 The Value of an Option to Exchange One Asset for Another
by William Margrabe
- 13-75 The Allocative Efficiency of the Private Housing Finance Sector
by Robert H. Edelstein & Irwin Friend
- 13-74 A Model for Corporate Debt Maturity Decisions
by James R. Morris
- 13-73 A Structural Study of the Income Velocity of Circulation
by John M. Mason
- 13-72 Using the Capital Asset Pricing Model and the Market Model to Predict Security Returns (Revised)
by Richardson R. Pettit & Randolph Westerfield
- 13-00 Risk Aversion and Optimal Portfolio Policies in Partial and General Equilibrium Economies
by Leonid Kogan & Raman Uppal
- 12-99 Econometric Models of Limit-Order Executions
by Andrew W. Lo & A. Craig MacKinlay & June Zhang
- 12-98 Capital Market Equilibrium with Differential Taxation
by Süleyman Basak & Mike Gallmeyer
- 12-97 An Anatomy of Morningstar Ratings (Reprint 065)
by Marshall E. Blume
- 12-96 A Specialist's Quoted Depth as a Strategic Choice Variable
by Kenneth A. Kavajecz
- 12-95 Call Policies with Flotation Costs: A Dog Chasing Its Tail (Revised: 22-95)
by Giovanni Barone-Adesi & Francisco A. Delgado
- 12-94 Anatomy of the Trading Process: Empirical Evidence on the Behavior of Institutional Traders (Revision of 18-93) (Reprint 045)
by Donald B. Keim & Ananth Madhavan
- 12-93 An Exact Solution for the Investment and Market Value of a Firm Facing Uncertainty, Adjustment Costs, and Irreversibility
by Andrew B. Abel & Janice C. Eberly
- 12-92 Soft Dollars and the Brokerage Industry (Reprint 034)
by Marshall E. Blume
- 12-91 Robust Power Calculations with Tests for Serial Correlation in Stock Returns
by Matthew Richardson & Tom Smith
- 12-90 Security Prices and Market Transparency (Revised: 1-92)
by Ananth Madhavan
- 12-89 Expectations and Volatility of Long-Horizon Stock Returns
by Shmuel Kandel & Robert F. Stambaugh
- 12-88 Pricing Physical Assets Internationally
by Bernard Dumas
- 12-87 Ponzi Games and Ricardian Equivalence
by Stephen A. O'Connell & Stephen P. Zeldes
- 12-86 Information Disclosure and Bank Runs
by A. Pennacchi
- 12-85 Contracts to Sell Information (Revised: 6-87)
by Franklin Allen
- 12-84 The Pricing of Treasury Bond Futures: The Quality Variation
by Simon Benninga & Michael Smirlock
- 12-83 Bank Dividend Policy and the Prediction of Future Bank Accounting Returns
by Michael Smirlock & William Marshall
- 12-82 The Contribution of Arbitrage Pricing Theory to Capital Asset Pricing
by Phoebus Dhrymes & Irwin Friend & N. Gultekin
- 12-81 Notes on Taxation and Risk Taking
by Richard Kihlstrom & Jean-Jacques Laffont
- 12-80 Unemployment and Real Interest Rates: Econometric Testing of Inflation Neutrality
by Richard Startz
- 12-79 Competition and Interest Rate Ceilings in Commerical Banking
by Richard Startz
- 12-78 Public Disclosure Rules, Private Information-Production Decisions and Captial Market Equilibrium
by Nicholas J. Gonedes
- 12-77 Bank Credit Rationing and the Customer Relation
by Norman R. Blackwell & Anthony M. Santomero
- 12-76 Price Level Variation and the Impact on Floating Exchange Rates
by Richard J. Rogalski & Joseph D. Vinso
- 12-75 The Supply Curve of Housing
by John M. Mason
- 12-74 Stock Ownership: Characteristics and Trends
by Marshall E. Blume & Jean Crockett & Irwin Friend
- 12-73 The Determinants of Value in the Philadelphia Housing Market: A Case Study of the Main Line, 1967-1969
by Robert H. Edelstein
- 12-72 Portfolio and Capital Market Theory with Arbitrary Preferences and Distributions: The General Validity of the Mean-Variance Approach in Large Markets
by Stephen A. Ross
- 12-00 Stock-Return Predictability and Model Uncertainty
by Doron Avramov
- 11-99 Mutual Fund Returns and Market Microstructure
by Mark M. Carhart & Ron Kaniel & David K. Musto & Adam Reed
- 11-98 Management Turnover and Corporate Governance Changes Following the Revelation of Fraud
by Anup Agrawal & Jeffrey J. Jaffe & Jonathan M. Karpoff
- 11-97 An Examination of Changes in Specialists' Posted Price Schedules
by Kenneth A. Kavajecz & Elizabeth R. Odders-White
- 11-96 The Analysis of VAR, Deltas and State Prices: A New Approach
by Bruce D. Grundy & Zvi Wiener
- 11-95 Theory of Rational Option Pricing: II (Revised: 1-96)
by Yaacov Z. Bergman & Bruce D. Grundy & Zvi Wiener
- 11-94 Systematic Risk and Diversification in the Equity REIT Market
by Joseph Gyourko & Edward Nelling
- 11-93 Implementing Numerical Option Pricing Models
by Simon Benninga & Raz Steinmetz & John Stroughair
- 11-92 What Does the Stock Market Tell Us About Real Estate Returns? (Revision of 18-91) (Reprint 030)
by Joseph Gyourko & Donald B. Keim
- 11-91 Option Prices and the Underlying Asset's Return Distribution (Reprint 012)
by Bruce D. Grundy
- 11-90 The Origins of Banking Panics: Models, Facts, and Bank Regulation
by Charles W. Calomiris & Gary Gorton
- 11-89 Incomplete Markets and Incentives to Set Up An Options Exchange
by Franklin Allen & Douglas Gale
- 11-88 Managerial Incentives in an Entrepreneurial Stock Market Model
by Richard E. Kihlstrom & Steven Matthews
- 11-87 Capital Structure and Imperfect Competition in Product Markets (Revision of 20-85, 24-84)
by Franklin Allen
- 11-86 Two-Person Dynamic Equilibrium: Trading in the Capital Market
by Bernard Dumas
- 11-85 Logit Versus Discriminant Analysis: A Specification Test
by Andrew W. Lo
- 11-84 New Tests of the APT and their Implications
by Phoebus Dhrymes & Irwin Friend & Bulent Gultekin & Mustafa Gultekin
- 11-83 Biases in Computed Returns: An Application to the Size Effect (Revision of 2-83)
by Marshall Blume & Robert Stambaugh
- 11-82 The Theory and Practice of Second-Best Commercial Policy: Domestic Factor Market Distortions and International Market Power
by Howard Kaufold
- 11-81 Effect of Inflation on Saving, Investment and Capital Markets
by Irwin Friend
- 11-80 Exchange-Rate Unions and the Volatility of the Dollar
by Richard C. Marston
- 11-79 The NOW Account Experiment and the Demand for Money
by Joanna H. Frodin & Richard Startz
- 11-78 When is Corporate Financial Policy Relevant?
by Simon Benninga
- 11-77 Consumption and Saving in Economic Development
by Jean Crockett & Irwin Friend
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