Publications

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The Real Problem with Pensions

December 2004 | Life-Cycle Savings/Investment | Paper
Merton, Robert C. “The Real Problem with Pensions.” Forethought. Harvard Business Review 82, no. 12 (December 2004): 21-22. (HBS Reprint #F0412H.)

International Pension Swaps

January 2002 | Life-Cycle Savings/Investment | Paper
Bodie, Zvi, and Robert C. Merton. "International Pension Swaps." Journal of Pension Economics and Finance 1 (January 2002): 77-83.

Pension Reform and Privatization in International Perspective: The Case of Israel

2000 | Life-Cycle Savings/Investment | Paper
Bodie, Zvi, and Robert C. Merton. “Pension Reform and Privatization in International Perspective: The Case of Israel.” The Economics Quarterly 152 (August 1992). (Reprinted in English in The Foundations of Pension Finance, Volume II, Zvi Bodie and E. Philip Davis, eds., Edward Elger, 2000

ension Benefit Guarantees in the United States: A Functional Analysis

2000 | Life-Cycle Savings/Investment | Book Chapter
Bodie, Zvi and Robert C. Merton. “Pension Benefit Guarantees in the United States: A Functional Analysis.” In The Future of Pensions in the United States, edited by R. Schmitt. Philadelphia: University of Pennsylvania Press, 1993. (Reprinted in The Foundations of Pension Finance, Volume I, Zvi Bodie and E. Philip Davis, eds., Edward Elger, 2000.)

On Consumption-Indexed Public Pension Plans

2000 | Life-Cycle Savings/Investment | Book Chapter
Merton, Robert C. “On Consumption-Indexed Public Pension Plans.” In Financial Aspects of the U.S. Pension System, edited by Zvi Bodie and John B. Shoven. Chicago: University of Chicago Press, 1983. (Chapter 18 in Continuous-Time Finance. Reprinted in The Foundations of Pension Finance, Volume I, Zvi Bodie and E. Philip Davis, eds., Edward Elger, 2000.)

Labor Supply Flexibility and Portfolio Choice in a Life-Cycle Model

July-October 1992 | Life-Cycle Savings/Investment | Paper
Bodie, Zvi, Robert C. Merton, and William Samuelson. "Labor Supply Flexibility and Portfolio Choice in a Life-Cycle Model." Journal of Economic Dynamics and Control 16, nos. 3-4 (July-October 1992): 427-449.

Defined Benefit versus Defined Contribution Pension Plans: What are the Real Tradeoffs

1988 | Life-Cycle Savings/Investment | Book Chapter
Bodie, Zvi, Alan J. Marcus and Robert C. Merton. “Defined Benefit versus Defined Contribution Pension Plans: What are the Real Tradeoffs.” In Pensions in the U.S. Economy, edited by John B. Shoven and David A. Wise. Chicago: University of Chicago Press, 1988.