The Quarterly Review of Economics and Finance

1993 - 2025

Current editor(s): R. J. Arnould and J. E. Finnerty

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Volume 36, issue Supplement 1, 1996

Introduction pp. 1-4

Werner Baer and H. Williamson

Economics at Illinois: The first hundred years pp. 5-8

Jane H. Leuthold

Keynote address: Financial markets at the end of the 20th century pp. 9-16

Jon Corzine

Bounded rationality and game theory pp. 17-35

Larry Samuelson

On time series econometrics pp. 37-60

Francisco Cribari-Neto

The past and future of economic history in economics pp. 61-72

Eugene White

The use of economics in the public policy debate in telecommunications pp. 73-84

Nina W. Cornell

Emerging policy issues in development finance pp. 85-100

Sudarshan Gooptu

Capital flows and economic growth: Reflections on Latin America in the 1990s pp. 101-114

John H. Welch

Economic policy making in sub-Saharan Africa and IMF involvement pp. 115-151

Ugo Fasano-Filho

The role of the economist in business pp. 153-160

George N. Carlson

Economics and the media pp. 161-168

Paul W. Boltz

Volume 36, issue 4, 1996

Pensions, non-discrimination policies, and the employment of older workers pp. 417-429

John Garen, Mark Berger and Frank Scott

International linkages between short-term real interest rates pp. 451-473

Roger A. Fujihara and Mbodja Mougoue

Time series estimation of the bond default risk premium pp. 475-484

John M. Clinebell, Douglas K. Kahl and Jerry L. Stevens

The relationship between budget deficits and capital inflows: Further econometric evidence pp. 485-494

N. R. Vasudeva Murthy and Joseph M. Phillips

The Stock market impact of social pressure: The South African divestment case pp. 507-527

Laurian Casson Lytle and O. Maurice Joy

Conditional heteroskedasticity adjusted market model and an event study pp. 529-538

A. Corhay and Alireza Tourani-Rad

Volume 36, issue 3, 1996

Preface to minisymposium on drawing the right lessons from the S&L mess pp. 269-270

Edward Kane

Opportunity cost of capital forbearance during the final years of the FSLIC mess pp. 271-290

Edward Kane and Min-Teh Yu

Opportunity costs incurred by the RTC in cleaning up S&L insolvencies pp. 291-310

David P. Ely and Nikhil P. Varaiya

Response of uninsured depositors to impending S&L failures: Evidence of depositor discipline pp. 311-325

Lawrence G. Goldberg and Sylvia C. Hudgins

Equilibrium term structure relations of risky assets in incomplete markets pp. 327-346

Bernhard Eckwert

Mutual fund investment performance pp. 347-363

William G. Droms and David A. Walker

The cross-section of stock returns and survivorship bias: Evidence from delisted stocks pp. 365-375

James L. Davis

Interpreting mean reversion in stock returns pp. 377-394

Partha Gangopadhyay and Marc R. Reinganum

Do cash flow variables improve the predictive accuracy of a Cox proportional hazards model for bank failure? pp. 395-409

Kathleen L. Henebry

A brief note on the macroeconomic consequences of random production failures pp. 411-415

Peter Matthews

Volume 36, issue 2, 1996

Introductory remarks pp. 129-130

Peter Birch Sorensen

The changing role of the public sector: An ex-post view of the privatization process in Argentina pp. 131-152

Sebastian Galiani and Diego Petrecolla

The changing role of the state in Brazil pp. 153-165

Rogerio L. F. Werneck

The changing role of the public sector: The Colombian case pp. 167-181

Alberto Carrasquilla

Is one of the 'peace dividends' negative? Military expenditure and economic growth in the wealthy OECD countries pp. 183-195

Daniel Landau

Simple vs. generalized interest rate and purchasing power parity models of exchange rates pp. 197-218

Su Zhou and Saeid Mahdavi

Risk and return in trading closed-end country funds: Can trading beat holding foreign stocks? pp. 219-231

Marcelle Arak and Dean Taylor

Cash flow instability and the demand for liquid assets by firms in Brazilian Manufacturing pp. 233-248

Gregory A. Falls and Paul A. Natke

The social costs of monopoly and regulation: Posner reconsidered again pp. 249-268

Edmund H. Mantell

Volume 36, issue 1, 1996

Inflation and welfare in a stochastic production economy pp. 1-16

Nivedita Mukherji

Trends in U.S. income inequality: Evidence from a panel of states pp. 17-37

Mark Partridge, Dan Rickman and William Levernier

Economics of scale and scope in small depository institutions: Evidence from U.S. cooperative banks pp. 39-54

Rasoul Rezvanian, Seyed Mahdian and Elyas Elyasiani

Seigniorage and the Mexican financial crisis pp. 55-64

Anthony L. Loviscek

Modelling money demand in the United Arab Emirates pp. 65-87

Ali F. Darrat and Ahmed Al-Mutawa

Overreaction to takeover speculation pp. 89-115

Terry L. Zivney, William J. Bertin and Khalil M. Torabzadeh

Investor sentiment and the closed-end fund evidence: Impact of the January effect pp. 117-126

David C. Leonard and David M. Shull

Volume 35, issue 35, 1995

The impact of the Federal Reserve's source of strength policy on bank holding companies pp. 483-496

Michael Schinski and Donald Mullineaux

Market discipline by depositors: Evidence from reduced-form equations pp. 497-514

Sangkyun Park

Employer search and worker-firm match quality pp. 515-532

Paul Sicilian

The effects of ownership form on profit maximization and cost minimization behavior within municipal and cooperative electrical distribution utilities pp. 533-550

E. Claggett, Daniel R. Hollas and Stanley R. Stansell

Economic growth in the American states: The end of convergence? pp. 551-577

John B. Crihfield, J. Giertz and Shekhar Mehta

Intertemporal stability in international stock market relationships: A revisit pp. 579-593

Gordon Y. N. Tang

Adding mystery to the case of the missing currency pp. 595-602

Jonathan Haughton

Volume 35, issue 4, 1995

Risk dominance and coordination failures in static games pp. 339-363

Paul G. Straub

Smoking, self-selection and absenteeism pp. 365-386

J. Paul Leigh

Earnings inequality narrows for young workers despite a widening wage structure pp. 387-395

James Ragan and Bernt Bratsberg

An empirical study of the corporate choice among common stock, convertible bonds and straight debt: A cash flow interpretation pp. 397-419

Hei Wai Lee and James A. Gentry

Insider trading: Regulation, securities markets, and welfare under risk aversion pp. 421-449

Javier Estrada

Business cycle asymmetry and the stock market pp. 451-466

Dale L. Domian and David A. Louton

Implications of multiple structural changes in event studies pp. 467-480

John E. Burnett, Carolyn Carroll and Paul Thistle

Volume 35, issue 3, 1995

The stability of the demand for money and M1 velocity: Evidence from the sectoral data pp. 233-243

James Butkiewicz and Margaret Mary McConnell

Horizontal mergers of price-setting firms with sunk capacity costs pp. 245-256

Kyung Baik

To pay or not to pay: Positive incentives as a calibrating device in the white indenture system pp. 257-269

Kyle D. Kauffman and Francisco Cribari-Neto

Local characteristics, contestability, and the dynamic structure of rural banking: A market study pp. 271-287

Mike Devaney and Bill Weber

The determinants of entry for black-owned commercial banks pp. 289-303

Gregory Price

Racetrack wagering and the "uninformed" bettor: A study of market efficiency pp. 305-314

Steve Swidler and Ron Shaw

Compounding/discounting in continuous time pp. 315-325

Philip A. Horvath

Point: "Competition and value-of-service pricing in the residential real estate brokerage market" pp. 327-332

Shraon I. O'Donnell and Tom G. Geurts

Counterpoint: "Competition and value-of-service pricing in the residential real estate brokerage market" pp. 333-338

John Schroeter

Volume 35, issue 2, 1995

Futures markets in the 21st century pp. 117-117

Raymond M. Leuthold

Aggregate income risks and hedging mechanisms pp. 119-152

Robert Shiller

Optimal futures contract design pp. 153-162

Elizabeth Tashjian

Electronic derivatives exchanges: Implicit mergers, network externalities, and standardization pp. 163-175

Ian Domowitz

The role of economists in public policy pp. 177-185

George G. Kaufman

The sensitivity in tests of the efficiency of a portfolio and portfolio performance measurement pp. 187-206

Yoon K. Choi

Monetary policy indicators after deregulation pp. 207-223

R. D. Rossiter

Conglomerate mergers and under-performance risk: A note pp. 225-231

Michael S. H. Shih

Volume 35, issue 1, 1995

Predictable components in exchange rates pp. 1-14

Steven J. Cochran and Robert H. DeFina

Vouchers in a community choice model with zoning pp. 15-39

Peter Rangazas

Evidence on the relationship between uncertainty and irreversible investment pp. 41-52

Athanasios Episcopos

A cross-industry time-series analysis of quits pp. 53-72

Carl Campbell

Bridging the theory-practice gap in corporate finance: A survey of chief financial officers pp. 73-87

Emery A. Trahan and Lawrence J. Gitman

The pricing of risky corporate debt to be issued at par value pp. 89-96

Frankline Owenthal, Arnold Langsen and Clark Benson

The volatility effect of option listing: Some Canadian evidence pp. 97-116

Said Elfakhani and Mohammed Chaudhury