Dear Colleagues: I want to bring to your attention a new
     service which you might find of interest. We will be publishing
     abstracting journals in economics with all paper abstracts
     approved by "Senior" Professors -- us old guys! :-) Other
     suggestions for abstracting journals are welcomed. Please contact
     [EMAIL PROTECTED], [EMAIL PROTECTED] or me.
     Thanks. PLEASE DO NOT RESPOND TO THE LIST.
              -----------------------------------
                SORRY FOR ANY CROSS-POSTINGS

               -------  PRESS RELEASE  -------

                       April 3, 1996
               -------------------------------

           Eugene F. Fama and the Social Science
                     Research Network

                           join

     Martin Feldstein, Michael C. Jensen, and M. Wayne Marr

                     in announcing the

              ECONOMICS RESEARCH NETWORK (ERN)
              --------------------------------

            Complimentary Subscriptions Available
       See instructions and form at end of this document
                        ----------

   The Economics Research Network (ERN) is directed by Martin
   Feldstein and Michael C. Jensen. Feldstein is George F.
   Baker Professor of Economics at Harvard University and
   President of the National Bureau of Economic Research.
   Jensen is the Edsel Bryant Ford Professor of Business
   Administration, Harvard Business School, and President of
   Social Science Electronic Publishing, Inc. M. Wayne Marr is
   Associate Director of ERN and Vice President of Social
   Science Electronic Publishing, Inc.

   The Economics Research Network is dedicated to
   increasing communication among economics scholars,
   practitioners, and policymakers throughout the world. ERN
   joins the Financial Economics Network (FEN), the Accounting
   Research Network (ARN),and the Legal Scholarship Network
   (LSN) as the latest addition to the research networks
   sponsored by the Social Science Research Network (SSRN). The
   ERN Advisory Board is listed below.

   We publish author contact information so that our readers can
   obtain full copies of the research.

   Instructions to authors and working paper coordinators for
   submitting abstracts for publication are given below. We
   encourage readers to have their institution's working paper
   coordinators get in touch with [EMAIL PROTECTED] to
   arrange to have their entire series listed in ERN.

   SSRN is the umbrella organization founded by Eugene F. Fama,
   Michael C. Jensen, M. Wayne Marr and Social Science Electronic
   Publishing, Inc. to increase worldwide communication and rapid
   distribution of research among scholars and practitioners in
   the social science, business, law, and policy communities.

   ------------------------------------------------------------

                THIRTEEN NEW INTERNET ELECTRONIC
                            JOURNALS

   Professors Feldstein and Jensen announce the formation of
   thirteen new Internet electronic abstracting journals to be
   published by the Economics Research Network:

        DEVELOPMENT ECONOMICS ABSTRACTS
        ECONOMETRICS ABSTRACTS
        ECONOMIC AND BUSINESS HISTORY ABSTRACTS
        ENVIRONMENTAL ECONOMICS ABSTRACTS
        HEALTH ECONOMICS ABSTRACTS
        INDUSTRIAL ORGANIZATION AND REGULATION ABSTRACTS
        INTERNATIONAL FINANCE ABSTRACTS
        INTERNATIONAL TRADE ABSTRACTS
        LABOR ABSTRACTS
        ORGANIZATION & MARKETS ABSTRACTS
        MACROECONOMICS AND MONETARY ECONOMICS ABSTRACTS
        MICROECONOMIC THEORY ABSTRACTS
        PUBLIC ECONOMICS ABSTRACTS

   ERN will also publish two additional professional service
   journals:

        ERN-PROFESSIONAL ANNOUNCEMENTS
        ERN-PROFESSIONAL JOB OPENINGS.


                SOME DETAILS ON OUR NEW JOURNALS
                --------------------------------

   MACROECONOMICS AND MONETARY ECONOMICS ABSTRACTS

   This Journal publishes abstracts of empirical and
   theoretical papers in macroeconomics and monetary economics.
   Macroeconomics is interpreted to include business cycles and
   economic growth, inflation, unemployment, and the behavior
   of various components of aggregate demand (consumption,
   residential and nonresidential investment and net exports).
   Also welcome are studies of savings, budget deficits and
   technical progress. Monetary economics includes studies of
   interest rates, exchange rates, and monetary aggregates,
   monetary policy, and the actions of banks and other
   financial institutions.

   MICROECONOMIC THEORY ABSTRACTS

   This Journal publishes abstracts of papers in microeconomic
   theory and general equilibrium analysis. Topics include: the
   theory of households and firms; general equilibrium analysis;
   game theory; economic welfare; information and uncertainty.
   (Note that there are separate Economic Research Network
   Journals  for a variety of applied aspects of
   microeconomics, including Industrial Organization, Labor
   Economics, and Public Economics.)

   ECONOMETRICS ABSTRACTS

   This Journal publishes abstracts of papers in theoretical and
   applied econometrics and those aspects of statistics that are
   likely to be of interest to econometricians and economists.
   Topics include: estimation of single equation models and
   simultaneous equation models; analysis of time series data,
   panel data, qualitative data, and other special topics;
   Bayesian analysis; and nonparametric methods.

   INDUSTRIAL ORGANIZATION AND REGULATION ABSTRACTS

   This Journal publishes abstracts of empirical and
   theoretical papers in the full range of subjects that
   comprise Industrial Organization and Regulation. Topics
   include: the structure of markets; strategy of firms;
   sources of technical progress; privatization; antitrust
   policy; regulation of all types, and specific industry
   studies.(Note that there are separate Economic Research
   Network Journals for Microeconomic Theory and for
   Organizations and Markets.)

   ORGANIZATION & MARKETS ABSTRACTS

   Editor:  George P. Baker, Professor, Harvard Business School

              [EMAIL PROTECTED]
              617-495-6119
              Harvard Business School
              Soldiers Field Road
              Boston, MA 02163

   Organization & Markets Abstracts brings together the
   literature in the growing and merging fields of organization
   theory and organizational economics. Relevant papers will be
   drawn from the (existing) fields of Corporate Finance,
   Contract Theory, Labor Economics, Human Resource Management,
   IO, Strategy, Law and Economics, Organizational and
   Individual Psychology, and Sociology. The objective of the
   journal is to provide a single forum for the dissemination
   of both theoretical and empirical papers addressing the
   existence, evolution, design, and performance of
   organizations, and the interaction between organizations and
   markets.

   LABOR ABSTRACTS

   Editors: Michael Gibbs, Visiting Assistant Professor,
            University of Chicago and University of Michigan

              [EMAIL PROTECTED]
              313-763-9219 voice
              313-936-8715 fax
              University of Michigan Business School
              701 Tappan Street
              Ann Arbor, MI 48109-1234

            Edward Lazear, Jack Steel Parker Professor of Human
            Resources Management and Economics, Graduate School
            of Business, Stanford University

              [EMAIL PROTECTED]
              415-723-3196 voice
              415-723-0498 fax
              Graduate School of Business
              Stanford University
              Stanford, CA 94305-5015

   Labor Abstracts publishes abstracts of working papers and
   accepted papers dealing with research in the field of labor
   economics, broadly defined with respect to methodology
   (theoretical and empirical) and subject matter (any topic
   related to labor markets and the employment relationship).
   This will include topics in closely related fields,
   including agency theory and incentive contracting,
   industrial relations, personnel, human resource management,
   and labor/employment law as appropriate.

   PUBLIC ECONOMICS ABSTRACTS

   This Journal publishes abstracts of empirical and
   theoretical papers in Public Economics. Topics include:
   taxation; social insurance; deficits and debt; state and
   local finance; theory of public expenditure; government
   spending; government provision of goods and services; welfare
   programs; education; defense; privatization; and effects of
   taxation and other fiscal policies on macroeconomic
   performance. (Note that there are separate Economic
   Research Network Journals for Microeconomic Theory,
   for Industrial Organization and for Organizations and
   Markets.)

   HEALTH ECONOMICS ABSTRACTS

   This Journal publishes abstracts of empirical and
   theoretical papers in the full range of subjects that
   comprise Health Economics, including both health care and
   the economic determinants of health status. Topics include:
   the market for health services; private and public health
   insurance; the pharmaceutical industry; health care costs;
   the effects of health care and health care programs on
   health outcomes; the economic and social determinants of
   behavior that affects health; the economic consequences of
   mortality and morbidity; causes and consequences of
   substance abuse; the economics of health R and D; government
   programs; fertility; value of life and of improvements in
   health status; and economics of aging and the aged.

   ENVIRONMENTAL ECONOMICS ABSTRACTS

   This Journal publishes abstracts of empirical and
   theoretical papers in the full range of subjects that
   comprise Environmental Economics. Topics include: economic
   causes and consequences of environmental changes; tax and
   regulatory policies that affect the environment; markets for
   pollution rights and related issues; government policies
   toward the environment; and intergovernmental cooperation in
   environmental policy. (Note that there are separate Economic
   Research Network Journals for Public Economics, Industrial
   Organization and Regulation and Health Economics.)

   DEVELOPMENT ECONOMICS ABSTRACTS

   This Journal publishes abstracts of applied and theoretical
   papers dealing with all aspects of Development Economics.
   Topics include all aspects of economic performance and
   policy in developing countries, emerging markets, and the
   former socialist countries. Specific subjects include such
   things as industrialization, human resource development,
   international trade, and taxation and social insurance as
   they apply to developing economies. Papers dealing with the
   experience in individual countries are also welcome.
   (Note that there are separate Economic Research Network
   Journals for International Trade, International Finance,
   Public Economics and Environmental Economics.)

   INTERNATIONAL TRADE ABSTRACTS

   This Journal publishes abstracts of empirical and
   theoretical papers dealing with all aspects of International
   Trade. The topics include all aspects of trade and
   investment, trade policy, the effects of customs unions and
   other trading arrangements, international tax issues, factor
   movements including migration, economic integration, and
   regionalization. A separate Economic Research Network
   Journal deals with International Finance and related
   macroeconomic issues.

   INTERNATIONAL FINANCE ABSTRACTS

   This Journal publishes abstracts of empirical and
   theoretical papers dealing with all aspects of International
   Finance and associated macroeconomic issues. Topics include
   exchange rates, international monetary arrangements, capital
   flows, current account adjustments, and all aspects of open
   economy macroeconomics. all aspects of trade and investment,
   trade policy, the effects of customs unions and other
   trading arrangements, international tax issues, factor
   movements including migration, and economic integration. A
   separate Economic Research Network Journal deals with
   International Trade.

   ECONOMIC AND BUSINESS HISTORY ABSTRACTS

   This Journal publishes abstracts of papers dealing with all
   aspects of economic history, including the economic and
   business history of the United States and of other
   countries.

   ERN-PROFESSIONAL ANNOUNCEMENTS

   This Journal will carry professional announcements of interest
   to the economics profession including professional meetings,
   calls for papers, new journals, special issues of journals,
   etc.

   ERN-PROFESSIONAL JOB OPENINGS

   This Journal will carry announcements of Ph.D level job
   openings in academia, government and industry.


   ------------------------------------------------------------

                    SUBMISSION OF ABSTRACTS

   AUTHORS: To publish your working paper or accepted paper
   abstract in ERN's journals please submit by E-mail an
   abstract of approximately 150 words to:

   Professor Baker for Organizations & Markets Abstracts at:
                         [EMAIL PROTECTED]
   Professor Gibbs for Labor Abstracts at:
                         [EMAIL PROTECTED]
   or where there is no editor noted above to:
                         [EMAIL PROTECTED]
   with a cc: to         [EMAIL PROTECTED]

   Please specify the journal or journals (no more than 2) for
   which you think the abstract is most appropriate, and
   provide the relevant JEL classifications for your article.
   You may also submit the abstract on a diskette (please
   indicate format) or by hard copy. We must have complete
   contact information including E-mail and postal address,
   phone and fax numbers for the contact author, and the E-mail
   address and institutional affiliation for any co-authors.

   We must have a hard copy of your manuscript prior to
   publication of the abstract.  Please send it in the form of
   a diskette or E-mail attachment of the document in Word or
   Wordperfect format, or hard copy to the editor noted above,
   or if no editor is listed to:

                         M. Wayne Marr
                         Associate Director
                         Economics Research Network
                         1121 Black Locust
                         Pflugerville, Texas 78660

   Please write or E-mail Professors Baker and Gibbs for any
   additional information on their journals or Wayne Marr for
   the remaining journals or for submission of announcements,
   job openings, or other information of interest to the
   profession.

          SUBMISSION OF ANNOUNCEMENTS OR JOB OPENINGS

   Professional announcements and job openings should be
   submitted by E-mail to [EMAIL PROTECTED] with a cc: to
   [EMAIL PROTECTED]

   ____________________________________________________________


           MEMBERSHIP IN THE ECONOMICS RESEARCH NETWORK
                              AND
                 SUBSCRIPTIONS TO ITS JOURNALS

   Membership in the Economics Research Network and
   subscriptions to its journals are free during ERN's
   startup period of three months or so. See the subscription
   form below.

            ****** SSRN's World Wide Web address ******

                       http://www.SSRN.Com/

   From here you can reach the web pages of all of the research
   networks sponsored by SSRN, samples of their abstracting
   journals, and electronic subscription forms.

   Searchable abstracts of the ERN archives will be put in
   place on the web in the next several months.  See our
   searchable database for the more than 1500 abstracts in the
   Financial Economics archival database by pointing your web
   browser to

                     http://www.Publisher.Com/

   FEN's homepage also features an Electronic Placement Forum
   that provides job opportunities and the resumes of
   professionals seeking positions.

   ------------------------------------------------------------


                    ECONOMICS RESEARCH NETWORK

                            DIRECTORS

   MARTIN FELDSTEIN
     George F. Baker Professor of Economics, Harvard
     University; President, National Bureau of Economic
     Research

     E-mail: [EMAIL PROTECTED]
     National Bureau of Economics Research
     1050 Massachusetts Avenue
     Cambridge, MA 02138-5398


   MICHAEL C. JENSEN
     Edsel Bryant Ford Professor of Business Administration,
     Harvard Business School; President, Social Science
     Electronic Publishing, Inc.

     E-mail: [EMAIL PROTECTED]
     Harvard Business School
     Soldiers Field Road
     Boston, MA 02163

                         ASSOCIATE DIRECTOR

   M. WAYNE MARR
     Vice President, Social Science Electronic Publishing, Inc.

     E-mail: [EMAIL PROTECTED]
     1121 Black Locust Drive
     Pflugerville, TX 78660

     Please E-mail or write us at the above addresses with your
     comments, questions or suggestions for ERN.


                         ADVISORY BOARD

   JOHN CAMPBELL
     Otto Eckstein Professor of Applied Economics, Harvard
     University

   EUGENE FAMA
     Robert R. McCormick Distinguished Service Professor of
     Finance, Graduate School of Business, University of
     Chicago; Advisory Editor, Journal of Financial Economics;
     Chairman of Social Science Electronic Publishing, Inc.

   ROBERT HALL
     Professor of Economics and Senior Fellow, Hoover
     Institution Stanford University; Director, Research
     Program on Economic Fluctuations and Growth, National
     Bureau of Economic Research.

   BENGT HOLMSTROM
     Professor of Economics and Management, Department of
     Economics and MIT Sloan School of Management, Massachusetts
     Institute of Technology

   LARRY KATZ
     Professor of Economics, Harvard University; Editor,
     Quarterly Journal of Economics

   EDWARD LAZEAR
     Jack Steele Parker Professor of Human Resources Management
     and Economics, Graduate School of Business, Stanford
     University and Senior Fellow, Hoover Institution,
     Stanford University;  Founding and current Editor:
     Journal of Labor Economics

   PAUL MILGROM
     Shirley R. and Leonard W. Ely, Jr. Professor of Humanities
     and Sciences, and Professor of Economics, Stanford
     University

   SAM PELTZMAN
     Sears, Roebuck Professor of Economics and Financial
     Services, Graduate School of Business, University of
     Chicago; Editor, Journal of Law and Economics

   JOHN PENCAVEL
     Professor of Economics, Stanford University; Editor,
     Journal of Economic Literature

   A. MITCHELL POLINSKY
     Josephine Scott Crocker Professor of Law and Economics,
     Director of the John M. Olin Program in Law and Economics,
     Stanford Law School; Co-Director, Legal Scholarship
     Network

   CHARLES PLOSSER
     Dean and John M. Olin Distinguished Professor of Economics
     and Public Policy, William E. Simon Graduate School of
     Business Administration, U of Rochester; Editor: Journal
     of Monetary Economics and Carnegie-Rochester Conference
     Series on Public Policy

     Hughes-Rogers Professor Emeritus, Princeton University;
     Senior Advisor, The Andrew W. Mellon Foundation

   SHERWIN ROSEN
     Edwin A. and Betty L. Bergman Distinguished Service
     Professor of Economics, University of Chicago; Editor,
     Journal of Political Economy

   HAL R. VARIAN
     Dean, School of Information Management and Systems,
     Professor, Haas School of Business, Professor, Department
     of Economics, Class of 1944 Professor, University of
     California, Berkeley

   ARNOLD ZELLNER
     H.G.B. Alexander Distinguished Service Professor of
     Economics and Statistics, Director, H.G.B. Alexander
     Research Foundation, Graduate School of Business,
     University of Chicago; Editor, Journal of Econometrics

   ____________________________________________________________

                     AFFILIATED SSRN NETWORKS

   Social Science Electronic Publishing, Inc. (SSEP)
   sponsors other research networks in the social sciences
   through the SSRN. At present the other networks are the
   Financial Economics Network (FEN), the Accounting Research
   Network (ARN), and the Legal Scholarship Network, (LSN), which
   together publish fourteen weekly abstracting journals in the
   areas of financial economics, accounting and law. A management
   research network and a litigation support network are in the
   planning stages.

   For additional information (including subscription forms)
   about SSEP, SSRN and its member networks, point your web
   browser to http://www.SSRN.Com/ or fill out the subscription
   form below cut it out and E-mail it to [EMAIL PROTECTED]
   Subscriptions to ARN, ERN, and LSN are free during their
   start-up phase and no-cost 4-week trial subscriptions are
   available for FEN.

   ------ CUT ------ CUT ------ CUT ------ CUT ------ CUT ----

                E-mail form to [EMAIL PROTECTED]

       COMPLIMENTARY TRIAL SUBSCRIPTIONS TO ERN and SSRN'S
                       AFFILIATED NETWORKS

   ------------------ SSRN SUBSCRIPTION FORM ------------------

       FULL NAME:
     TELEPHONE #:
   EMAIL ADDRESS:
    ORGANIZATION:
      UNIVERSITY:
           Faculty Rank:
                Student:
                PROGRAM:    ___Ph.D  ___MBA  ___AB
                DATE OF EXPECTED GRADUATION:
   (We require your organization and phone number for resolving
    mail bounces)

   Please let us know which items you wish to receive

   ___ALL ERN'S JOURNALS, PROFESSIONAL ANNOUNCEMENTS, AND JOB
      LISTINGS
         (If you check this option you will receive all of the
         services for one month or the duration of their start-up
         period and can unsubscribe to any of them that you find
         outside your area of interest by E-mailing a note to
         [EMAIL PROTECTED] with UNSUBSCRIBE (journal name)
         in the subject field of the message. Or you can
         subscribe selectively to one or more of the networks
         or journals listed below that match your interests.

   1.___FEN: FINANCIAL ECONOMICS NETWORK (If you check FEN
           which is now fee based, you will receive a 4-week
           no-cost trial subscription to all its journals)
           Co-Directors:
                Michael C. Jensen (Harvard Business School)
                M. Wayne Marr (SSEP)
        ___Corporate Finance and Organizations
        ___Banking and Financial Institutions
        ___Capital Markets
        ___Derivatives
        ___Real Estate

   2.___LSN: LEGAL SCHOLARSHIP NETWORK
           Co-Directors:
                Ronald Gilson (Stanford & Columbia Law Schools)
                A. Mitchell Polinsky (Stanford Law School)
        ___Law and Economics
        ___Corporate, Securities, and Finance Law
        ___Bankruptcy, Reorganization, and Creditors' Rights
           (forthcoming)
        ___Constitutional Law (forthcoming)
        ___Tax Law and Policy (forthcoming)

   3.___ARN: Accounting Research Network
           Director: Ross Watts (Simon School of Business,
           University of Rochester)
        ___Journal of Accounting Abstracts

   4.___ERN: ECONOMICS RESEARCH NETWORK
           Co-Directors:
                Martin Feldstein (Harvard and NBER)
                Michael C. Jensen (Harvard Business School)
        ___Development Economics Abstracts
        ___Econometric Abstracts
        ___Economic and Business History Abstracts
        ___Environmental Economics Abstracts
        ___Health Economics Abstracts
        ___Industrial Organization and Regulation
        ___International Finance Abstracts
        ___International Trade Abstracts
        ___Labor Abstracts
        ___Macroeconomics and Monetary Economics Abstracts
        ___Microeconomics Theory Abstracts
        ___Organizations & Markets Abstracts
        ___Public Economics Abstracts

   ____________________________________________________________
                            END
                 Copyright SSEP, Inc., 1996
   ____________________________________________________________

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