Although theory suggests that the real exchange rate should depreciate after a credible trade liberalization but could appreciate temporarily with a noncredible one, little empirical evidence exists. Unlike existing studies that use either indirect tests or unreliable openness measures, this paper uses an event study based on carefully documented trade liberalization in 45 countries. The result shows that real exchange rates depreciate after countries open their economies to trade. In countries with multiple liberalization episodes, however, real exchange rates appreciate during early episodes, suggesting that partial or noncredible trade liberalizations are associated with real appreciation.

One of a series which discusses topics of interest in theatre studies from various perspectives. Part 28 includes discussions of 'Mother Courage' at the Citizens, 1990, by Margaret Eddershaw, and Wole Soyinka's 'Death and the King's Horseman', at the Royal Exchange, 1990, by Martin Banham.

This volume brings together the work of researchers from various disciplines where aspects of descriptive, mathematical, computational or design knowledge concerning metaphor and analogy, especially in the context of agents, have emerged. The book originates from an international workshop on Computation for Metaphors, Analogy, and Agents (CMAA), held in Aizu, Japan in April 1998. The 19 carefully reviewed and revised papers presented together with an introduction by the volume editor are organized into sections on Metaphor and Blending, Embodiment, Interaction, Imitation, Situated Mapping in Space and Time, Algebraic Engineering: Respecting Structure, and a Sea-Change in Viewpoints.

The section devoted to iron in this volume reflects the tremendous progress in the area. Specifically cluster chemistry, ligand transformations and detailed structural results are more prominent in COMC II. The organic chemistry of ruthenium and osmium is an area which has burgeoned during the period since the publication of COMC. This is especially true for the cluster chemistry of these elements, which have provided most of the advances in this important field. Consequently, this volume will include an update (1981-1993) of the chemistry of mono- and bi-nuclear complexes of ruthenium and osmium, with a rather more extensive treatment of tri- and tetra-nuclear complexes. This is because many of the early results in ruthenium and osmium cluster chemistry described in COMC are now much better understood and can thus be placed in a more general context. In the case of complexes containing clusters with five or more metal atoms, the coverage is essentially complete, again because this chemistry has developed during the 1980s.