MURRAY KEMPis Professor Emeritus at the University of New South Wales, Australia. He obtained his Ph.D from the Johns Hopkins University, USA, and taught at McGill University, Canada, the Massachusetts Institute of Technology, USA, and the University of New South Wales, Australia. He has contributed mainly to the pure theory of international trade and to the economics of exhaustible resources. HIRONOBU NAKAGAWA is Professor of Economics at Aoyama Gakuin University, Japan. He obtained his M.B.A. from New York University, USA, and his Ph.D. in Economics from Columbia University, USA. His research focuses on international macroeconomics and finance. His research has been published in journals such as the Journal of Monetary Economics and Journal of International Money and Finance. TATSUYA UCHIDA is Professor of Economics at Aoyama Gakuin University, Japan. He obtained his Ph.D. in International Economics from Aoyama Gakuin University. His research interest is in applied microeconomics, especially industrial organization and managerial economics.