We study a string-inspired classical 2-D effective field theory with {\it
nonsingular} black holes as well as Witten's black hole among its static
solutions. By a dimensional reduction, the static solutions are related to the
(SL(2,R)k⊗U(1))/U(1) coset model, or more precisely its
O((α′)0) approximation known as the 3-D charged black
string. The 2-D effective action possesses a propagating degree of freedom, and
the dynamics are highly nontrivial. A collapsing shell is shown to bounce into
another universe without creating a curvature singularity on its path, and the
potential instability of the Cauchy horizon is found to be irrelevent in that
some of the infalling observers never approach the Cauchy horizon. Finally a
SL(2,R)k/U(1) nonperturbative coset metric, found and advocated by R.
Dijkgraaf et.al., is shown to be nonsingular and to coincide with one of the
charged spacetimes found above. Implications of all these geometries are
discussed in connection with black hole evaporation.Comment: 30 pages with 2 figures, harvmac, CALT-68-1852 (Discussions on the
gravitational collapse of thin shells in a charged spacetime are clarified.
Two extra references.