Editor's Note, pp. ii

MONEY, CREDIT, AND BANKING LECTURE

Michael Woodford, "Fiscal Requirements for Price Stability," pp. 669-728

ARTICLES

William Coleman, "Is It Possible That an Independent Central Bank Is Impossible? The Case of the Australian Notes Issue Board, 1920-1924," pp. 729-748

Hung-Jen Wang, "Production Smoothing When Bank Loan Supply Shifts: The Role of Variable Capacity Utilization," pp. 749-766

Biing-Shen Kuo and Anne Mikkola, "How Sure Are We about Purchasing Power Parity? Panel Evidence with the Null of Stationary Real Exchange Rates," pp. 767-789

David H. Papell and Hristos Theodoridis "The Choice of Numeraire Currency in Panel Tests of Purchasing Power Parity," pp. 790-803

Jyh-Lin Wu and Shaowen Wu, "Is Purchasing Power Parity Overvalued?" pp. 804-812

W. Scott Frame, Aruna Srinivasan, and Lynn Woosley, "The Effect of Credit Scoring on Small-Business Lending," pp. 813-825

Andr?Lucas, "Evaluating the Basle Guidelines for Backtesting Banks' Internal Risk Management Models," pp. 826-846