Pensions

Pensions green paper (proposals for pension reform in the UK) link

Pratt-Besley paper on pension fund governance (interesting but not really consistent with US institutions. also, the agency problem is not very plausible) link

Disney and Emmerson paper on ``Pension Choice and Job Mobility in the UK'' (looks at workers' current options) link

Cairns, Blake, and Dowd paper on asset allocation for DC Pensions (have not yet studied in detail) link

Blake and Burrows paper on survivor bonds (if issued by gov't, would help insurance companies to hedge aggregate mortality risk) link

Banking and liquidity

One theme I heard is the use of ``global games'' to get a unique equilibrium in Diamond-Dybvig and similar models. global games were introduced by Carlsson and van Damme, 1993, Econometrica 61, 989-1018

Guillaume Plantin on self-fulfilling liquidity link

Amil Dasgupta on contagion within banking systems link

Amil Dasgupta on learning in coordination games link

Shin, various see link I kept hearing about link which uses global games to look at coordination failure in debt forclosure. not necessarily consistent with bankruptcy law, but interesting in the abstract and the starting point of several student papers

Jean-Charles Rochet and Xavier Vives, Coordination Failures link

Regis Breton, two papers on financial intermediation: first, a ``smokescreen'' theory that financial intermediaries use aggregation to minimize wasteful information gathering (intuitively, this seems like Fannie Mae not giving out demographic information about mortgage portfolios they sell): link second, endogenous emergence of financial intermediaries link

Other

Anagnou, Bedendo, Hodges, and Thompkins, implied vs. realized probs link

Anderson, Ronald, and Kjell Nyborg, corporate model link

Anagnou, Iliana and Stewart Hodges, model misspecification (wrong vol) link

Basu, Devraj and Alexander Stremme, asset pricing tests link link

DeMiguel, Angel-Victor and Raman Uppal portfolio investment with taxes link

Hodges, Tompkins, and Ziemba, bias in futures option prices link

Haberman, Ballotta and Wang, valuing unit life insurance, or why all the insurance companies in the UK are insolvent. abstract only, hoping to get the full draft later link

Uppal, R. and T. Wang on model misspecification and under-diversification link