We wrote the first edition of this textbook more than ten years ago. The intervening years
have been a period of rapid and profound change in the investments industry. This is due in …

This paper examines the effect of the labor-leisure choice on portfolio and consumption
decisions over an individual's life cycle. The model incorporates the fact that individuals may …

THIS PAPER DEFINES the effectiveness of common stocks as an inflation hedge as the extent
to which they can be used to reduce the risk of an investor's real return which stems from …

… Merton and Zvi Bodie ABSTRACT This paper develops a conceptu … Indeed, Merton and
Bodie (1993) argue that financing with insured deposits would defeat the agency purpose of short…

How do returns on commodity futures compare with returns on common stocks? The authors
found that, over the period 1950 to 1976, the mean return on their benchmark portfolio of …

… Zvi Bodie is professor of finance at Boston University and a visiting professor at Harvard …
For a comprehensive list of references, see RC Merton and Z. Bodie, "On the Management of …

… Zvi Bodie is professor of finance and economics at the School of Management, Boston
University, and a research associate of the National Bureau of Economic Research. Alan J. …

This paper proposes a functional approach to designing and managing the financial
systems of countries, regions, firms, households, and other entities. It is a synthesis of the …

This paper develops the view that employer-sponsored pension plans are best understood
as retirement income insurance for employees and from that perspective addresses a …

… derived from FX option prices show that more negatively skewed FX distributions are
associated with higher sovereign credit risk in emerging markets (See Gray, Merton, and Bodie …