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Table of Contents


R. Glenn Hubbard

1. Macroeconomic Models with Equity and
Credit Rationing
Bruce C. Greenwald and Joseph E. Stiglitz

2. Collateral, Rationing, and Government
Intervention in Credit Markets
William G. Gale

3. Do Firms Care Who Provides Their Financing?
Jeffrey K. MacKie-Mason

4. Bank Monitoring and Investment: Evidence from
the Changing Structure of Japanese Corporate Banking Relationships
Takeo Hoshi, Anil Kashyap, and David Scharfstein

5. Sustaining Investment, Discretionary Investment,
and Valuation: A Residual Funds Study
of the
Paper Industry
John S. Strong and John R. Meyer

6. Are Large Shareholders Effective Monitors?
An Investigation of Share Ownership and Corporate Performance
Richard J. Zeckhauser and John Pound

7. Economic and Financial Determinants of Oil and
Gas Exploration Activity
Peter C. Reiss

8. AIL Theory and the Ailing Phillips Curve: A
Contract-Based Approach to Aggregate Supply
Roger E. A. Farmer

9. Liquidity Constraints in Production-Based Asset-
Pricing Models
William A. Brock and Blake LeBaron

10. Understanding Stock Price Behavior around the
Time of Equity Issues 
Robert A. Korajczyk, Deborah Lucas, and Robert L. McDonald

11. Investment, Financial Factors, and Cash Flow:
Evidence from U.K. Panel Data
Michael Devereux and Fabio Schiantarelli

12. Financial Systems, Corporate Finance, and
Economic Development
Colin Mayer


Discussants and Other Participants

Author Index

Subject Index

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