1998 Working Paper Series

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#98-01-B
Bubbles and Crises
Franklin Allen and Douglas Gale, August 1998
This is the preprint version only. For the published version please see, The Economic Journal. 110, pp. 236-255. 2000.

#98-02-C
Opening the Box: Information Technology, Work Practices, and Wages
Larry W. Hunter and John J. Lafkas, June 1999
This is the preprint version only. For the published version please see: Industrial and Labor Relations Review. 56(2). Pp. 224-243. 2003.

#98-03
Competition and Integration among Stock Exchanges in Europe: Network Effects, Implicit Mergers and Remote Access
Carmine di Noia, January 1998
This is the preprint version only. For the published version please see: "Competition and Integration among Stock Exchanges in Europe: Network Effects, Implicit Mergers and Remote Access" European Financial Management. Vol 7, No 1, pp. 39-72, March 2001.

#98-04
Life Insurance Firms in the Retirement Market: Is the News All Bad?
Paul Hoffman and Anthony M. Santomero, January 1998
This is the preprint version only. For the published version please see: "Life Insurance Firms in the Retirement Market: Is the News All Bad?" Journal of the American Society of CLU and ChFC. July 1998.

#98-05-B
Problem Bank Resolution: Evaluating the Options
Paul Hoffman and Anthony M. Santomero, November 1998
This is the preprint version only. For the published version please see: International Banking Crises, Large Scale Failures, Massive Government Interventions. Benton E. Gup, Editor. Greenwood Publishing. 1999.

#98-06
Incorporating New Fixed Income Approaches into Commercial Loan Valuation
Scott D. Aguais and Anthony M. Santomero, December 1997
This is the preprint version only. For the published version please see: "Incorporating New Fixed Income Approaches Into Commercial Loan Valuation." Journal of Lending & Credit Risk Management. Vol. 80 (6). February 1998.

#98-07
Measuring Aggregate Process Performance Using AHP
Frances X. Frei and Patrick T. Harker, February 1998
This is the preprint version only. For the published version please see: "Measuring Aggregate Process Performance Using AHP." European Journal of Operational Research. Vol. 116, pp. 436-442. 1999.

#98-08-B
Consolidation and Efficiency in the U.S. Life Insurance Industry
J. David Cummins, Sharon Tennyson and Mary A. Weiss, May 1998.
This is the preprint version only. For the published version please see: "Consolidation and Efficiency in the U.S. Life Insurance Industry." Journal of Banking and Finance. Vol. 23(2-4), pp. 325-57. February 1999.

#98-09
Pricing Excess-of-loss Reinsurance Contracts Against Catastrophic Loss
J. David Cummins, Christopher M. Lewis and Richard D. Phillips, January 1998
This is the preprint version only. For the published version please see: Kenneth Froot, ed., The Financial of Property/Casualty Risk (Chicago: University of Chicago Press). 1999.

#98-10
Pitfalls and Opportunities in the Use of Extreme Value Theory in Risk Management
Francis X. Diebold, Til Schuermann and John D. Stroughair, April 1998.
This is the preprint version only. For the published version please see: "Pitfalls and Opportunities in the Use of Extreme Value Theory in Risk Management" in A.-P. N. Refenes, A.N. Burgess and J.D. Moody (eds.), Advances in Computational Finance. Amsterdam: Kluwer Academic Publishers, 1998.

#98-11-B
Can Insurers Pay for the "Big One"? Measuring the Capacity of an Insurance Market to Respond to Catastrophic Losses
J. David Cummins, Neil A. Doherty and Anita Lo, June 1999
This is the preprint version only. For the published version please see: Journal of Banking and Finance 26, pp. 557-583. 2002.

#98-12
Financial Innovation in the Management of Catastrophe Risk
Neil A. Doherty, December 1997
This is the preprint version only. For the published version please see: "Innovations in Managing Catastrophe Risk." Journal of Risk & Insurance. Vol. 64 (4), pp. 713-18. December 1997.

#98-13
Managing Catastrophic Risks Through Insurance and Mitigation
Howard Kunreuther, August 1997

#98-14
The Complementary Roles of Mitigation and Insurance in Managing Catastrophic Risks
Paul Kleindorfer and Howard Kunreuther, December 1997
This is the preprint version only. For the published version please see: "The Complementary Roles of Mitigation and Insurance in Managing Catastrophic Risks." Risk Analysis. Vol. 19. No. 4, pp. 727-738. 1999.

#98-15
Responsiveness: Emotion and Information Dynamics in Service Interactions
Lorna Doucet, April 1998

#98-16
Horizon Problems and Extreme Events in Financial Risk Management
Peter F. Christoffersen, Francis X. Diebold and Til Schuermann, April 1998
This is the preprint version only. For the published version please see: "Horizon Problems and Extreme Events in Financial Risk Management." Economic Policy Review. (Federal Reserve Bank of New York). pp. 109-18. October 1998

#98-17
Bankruptcy Exemptions and the Market for Mortgage Loans
Richard Hynes and Jeremy Berkowitz, June 1998
Forthcoming, Journal of Law and Economics.

#98-18
Components of Insurance Firm Value and the Present Value of Liabilities
David F. Babbel, July 1998
This is the preprint version only. For the published version please see: "Components of Insurance Firm Value, and the Present Value of Liabilities." Investment Management for Insurers. David R. Babbel and Frank J. Fabozzi, editors. McGraw Hill. February 1999

#98-19
Derivatives and Corporate Risk Management: Participation and Volume Decisions in the Insurance Industry
J. David Cummins, Richard D. Phillips and Stephen D. Smith, July 1998
This is the preprint version only. For the published version please see: Journal of Risk and Insurance 68, pp. 51-91. 2001.

#98-20
Scenario Modeling for the Management of International Bond Portfolios
Andrea Beltratti, Andrea Consiglio and Stavros A. Zenios, May 1998.
This is the preprint version only. For the published version please see: "Scenario Modeling for the Management of International Bond Portfolios." Annals of Operations Research. Vol. 85. 1999.

#98-21
What Drives the Performance of Financial Institutions?
Patrick T. Harker and Stavros A. Zenios, June 1998
This is the preprint version only. For the published version please see: "What Drives the Performance of Financial Institutions?" in Patrick T. Harker and Stavros A. Zenios ,eds, Performance of Financial Institutions: Efficiency, Innovation, Regulation. Cambridge University Press, Cambridge. 1999.

#98-22
Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods
J. David Cummins and Mary A. Weiss, July 1998
This is the preprint version only. For the published version please see: Georges Dionne, ed., Handbook of Insurance Economics (Boston, MA: Kluwer Academic Publishers). 2001.

#98-23-B
Finance Applications of Game Theory
Franklin Allen and Stephen Morris, September 1998
This is the preprint version only. For the published version please see: Advances in Business Applications of Game Theory. K. Chatterjee and W. Samuelson, eds. Amsterdam: Kluwer Academic Publishers, pp. 17-48, 2001.

#98-24
The Impact of Knowledge Codification, Experience Trajectories and Integration Strategies on the Performance of Corporate Acquisitions
Harbir Singh and Maurizio Zollo, August 1998
This is the preprint version only. For the published version please see: "The Impact of Knowledge Codification, Experience Trajectories and Integration Strategies on the Performance of Corporate Acquisitions." Academy of Management Best Papers Proceedings. 1998.

#98-25-B
Effective Call Center Management: Evidence from Financial Services
Ann Evenson, Patrick T. Harker and Frances X. Frei, January 1999

#98-26
Would a Privatized Social Security System Really Pay a Higher Rate of Return?
John Geanakoplos, Olivia S. Mitchell and Stephen P. Zeldes, August 1998
This is the preprint version only. For the published version please see: Framing the Social Security Debate: Values, Politics and Economics. Eds. D. Arnold, M. Graetz, and A. Munnell. Brookings Institution, 1998: 137-157.

#98-27
Social Security Money's Worth
John Geanakoplos, Olivia S. Mitchell and Stephen P. Zeldes, August 1998
This is the preprint version only. For the published version please see: Geanakoplos, John, Olivia S. Mitchell, and Stephen P. Zeldes. Prospects for Social Security Reform. Eds. O.S.Mitchell, R. Myers, and H. Young. Philadelphia: University of Pennsylvania Press, 1999: 79-151.

#98-28-B
An Empirical Analysis of Personal Bankruptcy and Delinquency
David B. Gross and Nicholas S. Souleles, November 1999
This is the preprint version only. For the published version please see: Review of Financial Studies. 15(1), pp. 319-347. Spring 2002.

#98-29
Designing the Future of Banking: Lessons Learned from the Trenches
Patrick T. Harker and Larry W. Hunter, September 1998

#98-30-B
Diversity of Opinion and Financing of New Technologies
Franklin Allen and Douglas Gale, March 1999
This is the preprint version only. For the published version please see: "Diversity of Opinion and Financing of New Technologies." Journal of Financial Intermediation. Vol. 8, Numbers 1/2. January/April 1999.

#98-31
Financial Contagion
Franklin Allen and Douglas Gale, October 1998
This is the preprint version only. For the published version please see: Journal of Political Economy. 108, pp. 1-33. 1998.

#98-32
The Design of Private Reinsurance Contracts
Eslyn Jean Baptiste and Anthony M. Santomero, November 1998
This is the preprint version only. For the published version please see: Journal of Financial Intermediation.Vol. 9, Issue 3, pp. 274-97. 2000.

#98-33
Creating Value in Post-Acquisition Integration Processes
Harbir Singh and Maurizio Zollo, August 1998

#98-34-B
How Financial Firms Decide on Technology
Lorin M. Hitt, Frances X. Frei and Patrick T. Harker, November 1998
This is the preprint version only. For the published version please see: The Brookings-Wharton Papers on Financial Services. 1999.

#98-35-B
Is There an Optimal Size for the Financial Sector
Anthony M. Santomero and John J. Seater, February 1999
This is the preprint version only. For the published version please see: Journal of Banking and Finance. Vol 24, Issue 6, pp. 445-65. 2000.