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This paper examines the zero‐cost risk reversal as a tool for increasing returns to excess yen while limiting risk. With domestic interest rates near zero, firms holding Japanese yen face little opportunity to deposit cash for meaningful gain unless excess funds are invested in an other currency. The conversion strategy is profitable as long as the value of the yen appreciates less than the interest rate differential between the currencies, taking advantage of an apparent empirical regularity frequently referred to as ‘forward exchange bias.’ A problem arises, however, because dollar‐yen exchange rate fluctuation adds variability to returns stated in yen. This increased risk counters prudent cash management principles such as stability of returns and liquidity. We consider the possi bility that effective use of a zero‐cost currency options collar can substantially limit exchange‐rate risk and improve returns to yen holders. Data from July 1997 through June 2002 show that a one‐year strategy of reinvesting collared monthly Eurodollar returns produced a median annual yen return of 1.76 per cent, more than 8 times the median 0.21 per cent Euroyen return; risk also increases but approximately 98 per cent of returns resulting from this strategy fell between ‐6.05 per cent and +12.58 per cent.

The political campaigns of Una Clarke and Major Owens show an interesting display of ethnic politics. In this paper, I argue that the presence of a Caribbean population in Brooklyn New York presents itself as a challenge to the already present African-American structure. The Caribbean politicians do not subscribe nor fully ally with the African-American politicians, and instead, seek to carve out a niche for themselves and utilize their ties to home in an effort to cajole the Caribbean populace for support. Through the purview of a political campaign in Brooklyn between an African-American incumbent and a Caribbean insurgent, I attempt to contribute to the transnationalist literature through illustrating the concept of the nation−state, which can be explained as an immigrant’s continual bond to their home country while living abroad.

This bibliography is offered as a practical guide to published papers, conference proceedings papers and theses/dissertations on the finite element (FE) and boundary element (BE) applications in different fields of biomechanics between 1976 and 1991. The aim of this paper is to help the users of FE and BE techniques to get better value from a large collection of papers on the subjects. Categories in biomechanics included in this survey are: orthopaedic mechanics, dental mechanics, cardiovascular mechanics, soft tissue mechanics, biological flow, impact injury, and other fields of applications. More than 900 references are listed.

Workplace learning and HRD are considered legitimate topics for study and investigation alongside organisational strategies and practices. Considers key themes in the workplace earning literature in addition to its relationship with HRD. Identifies a paradigm shift from formalised, intermittent and discontinuous learning to increasingly informal, experiential, asynchronous and real‐time situated learning. Highlights three contemporary themes in both the workplace learning and HRD literatures, namely: knowledge, expertise, competence and capability; organisational learning; and employability and career issues.