WORKING PAPERS - 1988 Click on the links listed below to see the abstract. Click here for a complete list of abstracts for this year. Click on the icon beside the title in order to download the full paper in Adobe Acrobat. (If you do not have the Adobe Reader you can get a free copy from Adobe's World Wide Web Site at http://www.adobe.com/acrobat/readstep.html). 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 #01-88 Investment Earnings and the Initial Dividend Decision Douglas P. McCann [abstract] #02-88 Black-Markets for Foreign Currency Jack D. Glen [abstract] #03-88 Devaluations in an Overlapping Generations Economy Jack D. Glen [abstract] #04-88 Dividend Policy in Perspective: Can Theory Explain Behavior? (Revision of 30-86) Jean Crockett and Irwin Friend [abstract] #05-88 Tax Clienteles and the Miller Model with Incomplete Markets (Revision of 4-87) Franklin Allen and Jeffrey Jaffe [abstract] #06-88 The Implications of Insurance for the Efficacy of Fiscal Policy Andrew B. Abel [abstract] #07-88 Two-Person Dynamic Equilibrium: Trading in the Capital Market Bernard Dumas [abstract] #08-88 Market Efficiency and Equity Pricing: International Evidence and Implications for Global Investing Gabriel Hawawini [abstract] #09-88 Seasonality, Size Premium and the Relationship Between the Risk and the Return of French Common Stocks Gabriel Hawawini and Claude Viallet [abstract] #10-88 A Look at the Validity of the CAPM in Light of Equity Market Anomalies: The Case of Belgian Common Stocks Gabriel Hawawini, Pierre Michel and Albert Corhay [abstract] #11-88 Managerial Incentives in an Entrepreneurial Stock Market Model Richard E. Kihlstrom and Steven Matthews [abstract] #12-88 Pricing Physical Assets Internationally Bernard Dumas [abstract] #13-88 Endogenous Government Spending & Ricardian Equivalence (Revised: 9-90) Henning Bohn [abstract] #14-88 Assessing Dynamic Efficiency: Theory and Evidence Andrew Abel, Gregory N. Mankiw, Lawrence H. Summers and Richard Zeckhauser [abstract] #15-88 Stock Prices Under Time-Varying Dividend Risk: An Exact Solution in an Infinite-Horizon General Equilibrium Model Andrew Abel [abstract] #16-88 Consumption and Liquidity Constraints: An Empirical Investigation Stephen P. Zeldes [abstract] #17-88 An Empirical Investigation of Bond Prices and Inflation George G. Pennacchi [abstract] #18-88 Are Loan Sales Really Off-Balance Sheet Gary Gorton and George Pennacchi [abstract] #19-88 A Positive Theory of Foreign Currency Debt Henning Bohn [abstract] #20-88 Order Imbalances and Stock Price Movements on October 19 and 20 (Revised: 39-88) Marshall E. Blume, Craig A. MacKinlay and Bruce Terker [abstract] #21-88 Adverse Risk Incentives and the Design of Performance-Based Contracts Mark Grinblatt and Sheridan Titman [abstract] #22-88 Portfolio Performance Evaluation: Old Issues and New Insights Mark Grinblatt and Sheridan Titman [abstract] #23-88 Mutual Fund Performance: An Analysis of Quarterly Portfolio Holdings Mark Grinblatt and Sheridan Titman [abstract] #24-88 The Stock Market Crash of 1987: A Macro-Finance Perspective Jeremy J. Siegel [abstract] #25-88 A Mean-Variance Framework for Tests for Asset Pricing Models Shumel Kandel and Robert F. Stambaugh [abstract] #26-88 Changing Risk, Changing Risk Premiums, and Dividend Yield Effects Nai-Fu Chen, Bruce Grundy and Robert F Stambaugh [abstract] #27-88 Tax Smoothing with Financial Instruments (Reprint 004) Henning Bohn [abstract] #28-88 Asymptotic Arbitrage Opportunities and Asset Market Equilibrium Jevons C. Lee and Taychang Wang [abstract] #29-88 A General Theory of Arbitrage Pricing: When the Idiosyncratic Risks are Dependent and their Second Moments Do Not Exist Jevons C. Lee and Taychang Wang [abstract] #30-88 Asymptotic Arbitrage Opportunities in Various Modes of Convergence and the Approximate Linear Pricing Relation in Asset Market Jevons C. Lee and Taychang Wang [abstract] #31-88 Linear Transformation of Asset Returns and the APT Jevons C. Lee and Taychang Wang [abstract] #32-88 Real Exchange Rates: Heteroscedasticity and Reversion Toward PPP Jack D. Glen [abstract] #33-88 Time Consistency of Monetary Policy in the Open Economy (Revised: 8-90) Henning Bohn [abstract] #34-88 Transaction Contracts Gary B. Gorton and George Pennacchi [abstract] #35-88 The Loan Sales Market Gary B. Gorton and Joseph G. Haubrich [abstract] #36-88 The Cash Premium: Option Pricing Under Asymmetric Processes, with Applications to Options on Deutschemark Futures David S. Bates [abstract] #37-88 Pricing Options Under Jump-Diffusion Processes David S. Bates [abstract] #38-88 Private Information, Trading Volume, and Stock Return Variances Michael J. Barclay, Robert H. Litzenberger and Jerold B. Warner [abstract] #39-88 Order Imbalances and Stock Price Movements on October 19 and 20 (Revision of 20-88) Marshall E. Blume, Craig A. MacKinlay and Bruce Terker [abstract] #40-88 Risky Business: The Clearance and Settlement of Financial Transactions Ananth Madhavan, Morris Mendelson and Junius W. Peake [abstract] #41-88 Rational Finite Bubbles Franklin Allen and Gary B. Gorton [abstract] #42-88 Modeling Expected Stock Returns for Long and Short Horizons Shmuel Kandel and Robert F. Stambaugh [abstract] #43-88 Super Contact and Related Optimality Conditions: A Supplement to Avinash Dixit's: "A Simplified Exposition of Some Results Concerning Regulated Brownian Motion" (Reprint 020) Bernard Dumas [abstract] #44-88 Perishable Investment and Hysteresis in Capital Formation Bernard Dumas [abstract] #M1-88 Return Indexes for Lower Grade Bonds: 1977-1987 M.E Blume and D. B. Keim [abstract] #M2-88 Portfolio Management M.E Blume [abstract]
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