Charles W. Calomiris and Donna M. Hitscherich analyze data on fees paid to investment bankers and acquisition premia paid for targets in cash tender offers.

The merits of fixed versus flexible exchange rates and whether the recent shift in U.S. and other official views on exchange rate regimes is appropriate.

Anti-Americanism grows and dissipates in proportion to the resoluteness demonstrated by the United States in its international behavior.

Wilfred McClay's Bradley Lecture.

Despite the mistakes of the West with regard to other cultures, the disappearance of Western culture altogether could endanger and impoverish the lives of men and women on all continents.