Program for honoring Professor Ronald McKinnon

June 1, 2002

        PAPERS PRESENTED

• P. Agrawal:
   Interest Rates and Investment Levels:
  An Empirical Evaluation of McKinnon, Stiglitz, and Neo-structaralist Hypotheses (Pdf)



• Huw Pill:
   Argentine Banks and Macroeconomic Risk:
  Overborrowing and Credit Dynamics (Pdf)



• Phil Brock and Helmut Franken:
   Bank Interest Margins Meet Interest Rate Spreads:
  How Good is Balance Sheet Data for Analyzing the Cost of Financial Intermediation? (Pdf)



• K.C. Fung, Hitomi Iizaka, Paul Lau and Chelsea Lin:
   The Political Economy of the Japanese Yen and the U.S.-Japan Trade Conflict (Pdf)



• Rishi Goyal and Ronald McKinnon:
   Japan’s Negative Risk Premium in Interest Rates:
  The Liquidity Trap and Fall in Bank Lending (Pdf)



• Wallace E. Oates:
   Fiscal Decentralization and Economic Development:
  Some Reflections (Pdf)



• Basant K. Kapur:
   Financial Liberalization and Short-Run Housing Price Dynamics (Pdf)