TY - JOUR
T1 - Tendencias y perspectivas de la ciencia financiera
T2 - Un artículo de revisión
AU - Merton, Robert Cox
AU - Venegas-Martínez, Francisco
N1 - Publisher Copyright:
© 2020 Instituto Mexicano de Ejecutivos de Finanzas. All rights reserved.
PY - 2021
Y1 - 2021
N2 - Robert C. Merton's contributions are current. Regarding the design of retirement plans, in a framework of pension deficient systems, the investigations of Merton (1969) and (1971) on optimal consumption and portfolio rules during and after working life acquire contemporary validity. Likewise, Bodie and Merton (2002) propose the use of derivative products, at the international level, to diversify the risks of pension systems just at the moment when these systems of many underdeveloped and industrialized economies are on the verge of collapse; knowing that several of these systems only provide a meager proportion of the salary. Finally, Merton's theory of rational option pricing is retaken to create synthetic oil pipelines and power plants through the use of contingent claims. This paper aims to review the trends and perspectives in financial science and mathematical finance, within the framework of the pioneering contributions of Robert Cox Merton, highlighting priority areas that offer opportunities for research with social and global impacts.
AB - Robert C. Merton's contributions are current. Regarding the design of retirement plans, in a framework of pension deficient systems, the investigations of Merton (1969) and (1971) on optimal consumption and portfolio rules during and after working life acquire contemporary validity. Likewise, Bodie and Merton (2002) propose the use of derivative products, at the international level, to diversify the risks of pension systems just at the moment when these systems of many underdeveloped and industrialized economies are on the verge of collapse; knowing that several of these systems only provide a meager proportion of the salary. Finally, Merton's theory of rational option pricing is retaken to create synthetic oil pipelines and power plants through the use of contingent claims. This paper aims to review the trends and perspectives in financial science and mathematical finance, within the framework of the pioneering contributions of Robert Cox Merton, highlighting priority areas that offer opportunities for research with social and global impacts.
KW - consumer and portfolio decisions
KW - derivative products
KW - financial science
KW - interest rate term structures
UR - http://www.scopus.com/inward/record.url?scp=85142692365&partnerID=8YFLogxK
U2 - 10.21919/remef.v16i1.581
DO - 10.21919/remef.v16i1.581
M3 - Artículo de revisión
AN - SCOPUS:85142692365
SN - 1665-5346
VL - 16
JO - Revista Mexicana de Economia y Finanzas Nueva Epoca
JF - Revista Mexicana de Economia y Finanzas Nueva Epoca
IS - 1
M1 - e581
ER -