RIK W. HAFER is Professor and Chairman in the Department of Economics and Finance, and Director of the Office of Economic Education and Business Research, Southern Illinois University, Edwardsville. He served as Research Officer with the Federal Reserve Bank of St. Louis and his articles on monetary policy and financial markets have appeared in such publications as the Wall Street Journal, International Economic Journal, Economic Review, and the Journal of Business. He is the author or editor of several books, including: