Publications

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On the Application of the Continuous-Time Theory of Finance to Financial Intermediation and Insurance

July 1989 | Continuous-Time Finance | Paper
Merton, Robert C. “On the Application of the Continuous-Time Theory of Finance to Financial Intermediation and Insurance.” The Geneva Papers on Risk and Insurance 14, no. 52 (July 1989): 225-262. (Reproduced as Chapter 14 in Continuous-Time Finance.)

Optimal Portfolio Rules in Continuous Time When the Nonnegativity Constraint on Consumption is Binding

1989 | Continuous-Time Finance | Paper
Merton, Robert C. "Optimal Portfolio Rules in Continuous Time When the Nonnegativity Constraint on Consumption is Binding" Working Paper, 1989. (In Chapter 6 of Continuous-Time Finance.)

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.

Pension Plan Integration as Insurance against Social Security Risk

1987 | Life-Cycle Savings/Investment | Book Chapter
Merton, Robert C., Zvi Bodie and Alan J. Marcus. “Pension Plan Integration as Insurance against Social Security Risk.” In Issues in Pension Economics, edited by Zvi Bodie, John B. Shoven and David A. Wise. Chicago: University of Chicago Press, 1987.

In Honor of Nobel Laureate, Franco Modigliani

Fall 1987 | Miscellaneous | Paper
Merton, Robert C. “In Honor of Nobel Laureate, Franco Modigliani.” Economic Perspectives 1 (fall 1987): 145-155.

A Simple Model of Capital Market Equilibrium with Incomplete Information

July 1987 | Miscellaneous | Paper
Merton, Robert C. “A Simple Model of Capital Market Equilibrium with Incomplete Information.” Journal of Finance 42 (July 1987): 483-509.

Dividend Behavior for the Aggregate Stock Market

January 1987 | Risk Management/Stocks | Paper
Marsh, Terry A., and Robert C. Merton. “Dividend Behavior for the Aggregate Stock Market.” Journal of Business 60 (January 1987): 1-40.