## Working Papers 1993 **The Community Reinvestment Act: Good Intentions Headed in the Wrong Direction,** by Lawrence J. White, Working Paper EC-93-01, Stern School of Business, N.Y.U. --- **Estimating General Markov Switching Models,** by Martin D.D. Evans, Working Paper EC-93-02, Stern School of Business, N.Y.U. --- **Improving Short-Run Macroeconomic Forecasts: The "Contribution" of a Borrowing-Constrained Representative Agent,** by Angelos A. Antzoulatos, Working Paper EC-93-03, Stern School of Business, N.Y.U. *subsequently published in the International Journal of Forecasting, Vol. 12, No. 4, December 1996, pp. 439-453, with new title **"Consumer Credit and Consumption Forecasts"*** --- **Long-Memory Inflation Uncertainty: Evidence from the Term Structure of Interest Rates,** by David K. Backus, Working Paper EC-93-04, Stern School of Business, N.Y.U. --- **The Rationality of the OECD Foreign-Balance Forecasts,** by Angelos A. Antzoulatos, Working Paper EC-93-05, Stern School of Business, N.Y.U. *subsequently* *published in the International Journal of Forecasting, Vol. 10, December 1994, pp. 435-443.* --- **Do Expected Shifts in Inflation Affect Estimates of the Long-Run Fisher Relation?** by Martin D.D. Evans and Karen K. Lewis, Working Paper EC-93-06, Stern School of Business, N.Y.U. --- **Competition Policy in the United States: An Overview,** by Lawrence J. White, Working Paper EC-93-07, Stern School of Business, N.Y.U. --- **Anti Tax Revolutions, Hyperinflation and Symbolic Prosecutions,** by Holger C. Wolf, Working Paper EC-93-08, Stern School of Business, N.Y.U. --- **The Benefits of Franchising and Vertical Disintergration in Monopolistic Competition for Locationally Differentiated Products,** by Nicholas Economides, Working Paper EC-93-09, Stern School of Business, N.Y.U. [\[Abstract\]](http://edgar.stern.nyu.edu/networks/93-09abs.html) [\[Postscript ~338K\]](http://raven.stern.nyu.edu/networks/93-09.ps) [\[Zipped ~68K\]](http://raven.stern.nyu.edu/networks/93-09ps.zip) [\[Acrobat ~144K\]](http://raven.stern.nyu.edu/networks/93-09.pdf) --- **The Economics of Disintegration in the Former Soviet Union,** by Holger C. Wolf, Working Paper EC-93-10, Stern School of Business, N.Y.U. --- **Postwar Germany in the European Context: Domestic and External Determinants of Growth,** by Holger C. Wolf, Working Paper EC-93-11, Stern School of Business, N.Y.U. --- **Do Long-Term Swings in the Dollar Affect Estimates of the Risk Premia?** by Martin D.D. Evans and Karen K. Lewis, Working Paper EC-93-12, Stern School of Business, N.Y.U. --- **Measuring Current and Anticipated Future Credit Estimates for Brady Bonds,** by Robert E. Cumby and Martin D.D. Evans, Working Paper EC-93-13, Stern School of Business, N.Y.U. --- **One-Way Networks, Two-Way Networks, Compatibility, and Antitrust,** by Nicholas Economides and Lawrence J. White, Discussion Paper EC-93-14, Stern School of Business. [\[Abstract\]](http://edgar.stern.nyu.edu/networks/93-14abs.html) [\[Postscript ~1102K\]](http://raven.stern.nyu.edu/networks/93-14.ps) [\[Zipped ~191K\]](http://raven.stern.nyu.edu/networks/93-14ps.zip) [\[Acrobat ~409K\]](http://raven.stern.nyu.edu/networks/93-14.pdf) --- **Higher Education in New York: Portrait of an Industry,** by Paul Wachtel, Working Paper EC-93-15, Stern School of Business, N.Y.U. --- **Hysteresis in Perspective: A Discussion of Dixit's "Hysteresis and the Durations of the J-Curve,"** by David K. Backus, Working Paper EC-93-16, Stern School of Business, N.Y.U. --- **International Evidence on Tradables and Nontradables Inflation,** by Jose De Gregorio, Alberto Giovannini, and Holger C. Wolf, Working Paper EC-93-17, Stern School of Business, N.Y.U. --- **Proposal to the Bank of Greece on the Organization of the Secondary Market for Greek State Bills, Notes, and Bonds,** by Nicholas Economides, Working Paper EC-93-18, Stern School of Business, N.Y.U. [\[Abstract\]](http://edgar.stern.nyu.edu/networks/bankgree.html) [\[Postscript ~297K\]](http://raven.stern.nyu.edu/networks/bankgree.ps) [\[Zipped ~50K\]](http://raven.stern.nyu.edu/networks/bankgree.zip) [\[Acrobat ~91K\]](http://raven.stern.nyu.edu/networks/bankgree.pdf) --- **Electronic Call Market Trading,** by Nicholas Economides and Robert A. Schwartz, Working Paper EC-93-19, Stern School of Business, N.Y.U., *Journal of Portfolio Management*, vol. 21, no. 3, pp. 10-18, (Spring 1995). [\[Abstract\]](http://raven.stern.nyu.edu/networks/jpm95abs.html) [\[Postscript ~127K\]](http://raven.stern.nyu.edu/networks/jpm95.ps) [\[Zipped ~32K\]](http://raven.stern.nyu.edu/networks/jpm95ps.zip) [\[Acrobat ~74K\]](http://raven.stern.nyu.edu/networks/jpm95.pdf) --- **Frontier Production Functions,** by William H. Greene, Working Paper EC-93-20, Stern School of Business, N.Y.U. --- **International Business Cycles: Theory and Evidence,** by David K. Backus, Patrick J. Kehoe, and Finn E. Kydland, Working Paper EC-93-21, Stern School of Business, N.Y.U. --- **East German Economic Reconstruction,** by Rudiger Dornbusch and Holger C. Wolf, Working Paper EC-93-22, Stern School of Business, N.Y.U. --- **The Political Economy of Branching Restrictions and Deposit Insurance: A Model of Monopolistic Competition Among Small and Large Banks,** by Nicholas Economides, R. Glen Hubbard, and Darius Palia, Working Paper EC-93-23, Stern School of Business, N.Y.U., forthcoming, *Journal of Law and Economics* (October 1996) [\[Abstract\]](http://raven.stern.nyu.edu/networks/jle96abs.html) --- **Designing an Optimal Privatization Plan for Restructuring Firms and Industries in Transition,** by Barbara G. Katz and Joel Owen, Working Paper EC-93-24, Stern School of Business, N.Y.U. *subsequently published in the Journal of Comparative Economics, Vol. 21, No.1 (August 1995), pp.1-28* --- **The Japanese Trade Balance: Recent History and Future Prospects,** by David K. Backus, Working Paper EC-93-25, Stern School of Business, N.Y.U. --- **International Regulation of Securities Markets: Harmonization or Competition?** by Lawrence J. White, Working Paper EC-93-26, Stern School of Business, N.Y.U. --- **The Response Function of the Central Bank of Israel with Respect to Foreign Exchange 1991-1992,** by Gideon Fishelson, Working Paper EC-93-27, Stern School of Business, N.Y.U. --- **Borrowed Reserves and Deposit Variation: The Effectiveness of Federal Reserve Operating Methods,** by Michael L. Tindall, Working Paper EC-93-28, Stern School of Business, N.Y.U. --- **Mixed Bundling in Duopoly,** by Nicholas Economides, Working Paper EC-93-29, Stern School of Business, N.Y.U. [\[Abstract\]](http://edgar.stern.nyu.edu/networks/93-29abs.html) [\[Postscript ~172K\]](http://raven.stern.nyu.edu/networks/93-29.ps) [\[Zipped ~33K\]](http://raven.stern.nyu.edu/networks/93-29ps.zip) [\[Acrobat ~53K\]](http://raven.stern.nyu.edu/networks/93-29.pdf) --- **Downstream Vertical Foreclosure, Upstream R&D Rivalry, and the Japanese Keiretsu,** by Chris Stefanadis, Working Paper EC-93-30, Stern School of Business, N.Y.U. --- **Is Mixed Bundling an Incentive for Vertical Integration?** by Chris Stefanadis, Working Paper EC-93-31, Stern School of Business, N.Y.U.