Stephen G Cecchetti -
Department of Economics, The Ohio State University and NBER
Nelson C Mark -
Department of Economics, The Ohio State University and NBER
Robert J Sonora -
1We thank James Harrigan for useful discussions. In addition, the article has benefited from the comments of seminar participants at North Carolina State University, the University of Otago, and the April 1998 CEPR conference, Vienna Austria. Some of Mark's work in this article was supported by a 1998 Erskine Fellowship at the University of Canterbury, New Zealand