Publications

April 2011 (Revised June 2012)
Background Note

Note on U.S. Pension Accounting

By: Robert C. Pozen and Brij Khurana

The purpose of this note is to describe the manner in which publicly traded corporations and local governments in the United States account for their pension plans. View Details

Keywords: Retirement; Accounting; United States

April 2011 (Revised November 2012)
Supplement

Reinsurance Negotiation: Confidential Information for Auburn Re

By: Robert C. Pozen and Henoch Senbetta

The Reinsurance Negotiation case is a fictional three-party negotiation between a primary insurer and two reinsurers. The case is appropriate for use in a wide variety of courses, including Financial Institutions, Negotiations, and courses related to the Insurance and... View Details

Keywords: Insurance; Negotiation

February 2011 (Revised April 2011)
Background Note

Note on the Reinsurance Industry

By: Robert C. Pozen and Henoch Senbetta

This note begins with an overview of reinsurance contacts - their mechanics, types and pricing. It then discusses the structure of the reinsurance industry and the impact of recent crises on this industry. View Details

Keywords: Financial Crisis; Insurance; Governing Rules, Regulations, and Reforms; Industry Structures; Insurance Industry

Article

On the Management of Financial Guarantees

By: Robert C. Merton and Z. Bodie

Keywords: Management; Finance

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May 2010 (Revised August 2010)
Case

Breaking the Buck

By: Robert C. Pozen and Elizabeth Leonard

After an incredibly volatile six months since Lehman Brothers declared bankruptcy, Finbar McCall contemplated his options. As the investment manager of RPG Prime Reserve Fund, Inc. (RPGXX), McCall had just heard the news that the U.S. Treasury was extending the... View Details

Keywords: Change Management; Financial Crisis; Financial Management; Insurance; Investment Funds; Business and Government Relations; Business and Shareholder Relations; Financial Services Industry

August 2008 (Revised May 2009)
Background Note

Note on Comparative Treatment of Business Method and Software Patents in the United States and European Union

By: Robert C. Pozen and Felicia Ellsworth

This note analyses and compares the legal definitions and practical applications of Business Method and Software Patents in the United States and European Union. View Details

Keywords: Applications and Software; Patents; Business Processes; United States; European Union

1995
Chapter

The Informational Role of Asset Prices: The Case of Implied Volatility

By: Zvi Bodie and Robert C. Merton

Keywords: Asset Pricing; Price; Volatility; Information

1999
Chapter

The Global Financial System Project

By: Robert C. Merton and Peter Tufano

Keywords: International Finance; Globalized Markets and Industries; Projects; Banking Industry; Financial Services Industry

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1992
Working Paper

On the Management of Deposit Insurance and Other Guarantees

By: Robert C. Merton and Zvi Bodie

September 2015
Article

Banks as Patient Fixed-Income Investors

By: Samuel G. Hanson, Andrei Shleifer, Jeremy C. Stein and Robert W. Vishny

We examine the business model of traditional commercial banks when they compete with shadow banks. While both types of intermediaries create safe "money-like" claims, they go about this in different ways. Traditional banks create money-like claims by holding illiquid... View Details

Keywords: Shadow Banking; Safe Money-like Claims; Commercial Banking

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August 2011 (Revised February 2012)
Background Note

A Note on Water

By: Robert G. Eccles, Amy C. Edmondson, George Serafeim and Sarah E. Farrell

This note provides background on the complex issues regarding the supply and consumption of water and how this natural resource is at increasing risk, resulting in significant economic, political and environmental issues. View Details

Keywords: Economics; Government and Politics; Demand and Consumers; Supply and Industry; Risk and Uncertainty; Natural Environment; Pollutants; Environmental Sustainability