#1989-003A "Do Fundamentals, Bubbles or Neither Determine Stock Prices? Some International Evidence"
by Gerald P. Dwyer, Jr., and R. W. Hafer


No abstract provided More...

#1989-002A "Contagious Bank Runs in the Free Banking Period"
by Iftekhar Hasan, and Gerald P. Dwyer, Jr.


In the free banking period in the United States, banks issued private banknotes without discretionary restriction of entry into banking. Previous research suggests that specific aspects of the free banking laws account for banks' difficulties, losses to noteholders, and the attendant relatively large number of banks closed. More...

#1989-001A "Tests of Rational Expectations in a Stark Setting"
by Gerald P. Dwyer, Jr., Arlington W. Williams, Raymond C. Battalio, and Timothy I. Mason


We test the hypothesis that forecasts by participants in a stark experimental setting are the same as the rational expectation. At least for a process as simple as a random walk, relatively sophisticated as well as relatively unsophisticated participants' forecasts can be characterized as consistent with rational expectations. More...

PUBLISHED: Economic Journal, May 1993, 103(418), pp. 586-601