Papers 1980

Working Papers 1980

On Dealer Markets Under Competition
Thomas Ho and Hans Stoll
(Journal of Finance, Vol. 35, No. 2, May 1980)

A Competitive Entrepreneurial Model of a Stock Market
Richard E. Kihlstrom and Jean-Jacques Laffont
(The Economics of Information and Uncertainty, 1982)

Evidence on the ‘Tax Effects’ of Inflation Under Historical Cost Accounting Methods
Nicholas J. Gonedes
(Journal of Business, Vol. 54, No. 2, April 1981)

Risk Aversion with Initial Wealth
Richard E. Kihlstom, David Romer and Steve Williams
(Econometrica, Vol. 49, No. 4, July 1981)

Optimal Claims in Automobile Insurance
Itzahk Venezia and Haim Levy
(Review of Economic Studies, Vol. 47, No. 3, April 1980)

The Allocational Role of Takeover Bids in Situations of Asymmetric Information
Sanford J. Grossman and Oliver D. Hart
(Journal of Finance, Vol. 36, No. 2, May 1981)

Corporate Hedging in Future Markets when Short Sales are Restricted
Simon Benninga

Financial Management in an Inflation Economy
Moshe Ben-Horim and Haim Levy

Expectations, Exchange Rates and Monetary Theory – The Case of the German Hyperinflation
Aris Protopapadakis
(Journal of International Money and Finance, Vol. 2, Issue 1, April 1983)

The CAPM and Mean-Variance Efficient Portfolios
Irwin Friend, Randolph Westerfield and Joao Ferreira

Exchange-Rate Unions and the Volatility of the Dollar
Richard C. Marston

Unemployment and Real Interest Rates: Econometric Testing of Inflation Neutrality
Richard Startz
(American Economic Review, Vol. 71, No. 5, December 1981)

Effect of Inflation on the Profitability and Valuation of U.S. Corporations
Irwin Friend and Joel Hasbrouck

Majority Choice Determination of the Level of Non-Neutral Government Debt
Simon Benninga

An Analysis of the Principal-Agent Problem
Sanford Grossman and Oliver Hart
(Econometrica, Vol. 51, No. 1, January 1983)

Heterogeneous Information and the Theory of the Business Cycle
S. Grossman and L. Weiss
(Journal of Political Economy, Vol. 90, No. 4, August 1982)

Corporate Financial Policy in Markets with Short Sale Restrictions
Simon Benninga

The Determinants of the Variability of Stock Market Price
S. Grossman and R. Shiller
(American Economic Review, Vol. 71, No. 2, May 1981)

The Endogeneity of Money During the German Hyperinflation: A Reappraisal
Aris Protopapadakis
(Economic Inquiry, Vol, 21, Issue 1, January 1983)

Aftermarket Price Performance of 1978 New Issues
J. Mackowski

The Interpretation of One-Parameter Performance Measures
Marshall E. Blume

Impediments to Capital Formation
Marshall E. Blume, Irwin Friend and Randolph Westerfield