Blog Posts

“Generative Artificial Intelligence in Insurance – Three Lessons for Transformation from Past Arrivals of General-Purpose Technologies” Gen Re, March 18, 2024

“Generative Artificial Intelligence in Insurance – Four Aspects of the Current Debate” Gen Re, February 1, 2024

“The Future of Cryptography and the Rise of Quantum Computing,” Gen Re, September 20, 2023

“Benefits of Generative Search: Unlocking Real-Time Knowledge Access,” Gen Re, August 17, 2023

“Understanding the Importantce of Algorithmic Fairness,” Gen Re, February 17, 2022

“Big Data and the Balance of Information Between Insurers and Consumers,” Gen Re, January 17, 2022

Selected Articles in Refereed Journals

“Capital, Labor, and the Firm: A Study of German Codetermination,” with Gary Gorton, Journal of the European Economic Association 2 (2004), 863-905

“Pricing and Dividend Policies in Open Credit Unions,” with Bill Emmons, Journal of Institutional and Theoretical Economics 158 (2002), 234-255

“Universal Banking and the Performance of German Firms,” with Gary Gorton, Journal of Financial Economics 58 (2000), 29‑80

“Corporate Governance, Ownership Dispersion, and Efficiency: Empirical Evidence from Austrian Cooperative Banking,” with Gary Gorton, Journal of Corporate Finance 5 (1999), 119-140

Federal Reserve Bank of St. Louis Review

“Macroeconomic News and Real Interest Rates,” with Kevin Kliesen, 88(2) (2006), 133-144

“Stock Return and Interest Rate Risk at Fannie Mae and Freddie Mac,” 87(1) (2005), 35-48

“Monetary Policy Actions, Macroeconomic Data Releases, and Inflation Expectations,” with Kevin Kliesen, 86(3) (2004), 9-22

“Asset Mispricing, Arbitrage, and Volatility,” with Bill Emmons, 84(6) (2002), 19-28

“Voting Rights, Private Benefits, and Takeovers,” 84(1) (2002), 35-46

“Equity Financing of the Entrepreneurial Firm,” 83(6) (2001), 15-27

“Membership Structure, Competition and Occupational Credit Union Deposit Rates,” with Bill Emmons, 83(1) (2001), 41-50

“Bank Competition and Concentration: Do Credit Unions Matter?”, with Bill Emmons, 82(3) (2000), 29-42

“The Asian Crisis and the Exposure of Large US Firms,” with Bill Emmons, 82(1) (2000), 15-34

“Credit Unions and the Common Bond,” with Bill Emmons, 81(5) (1999), 41-64

“Wages and Risk-Taking in Occupational Credit Unions: Theory and Evidence,” with Bill Emmons, 81(2) (1999), 13-31

“Universal Banking, Control Rights, and Corporate Finance in Germany,” with Bill Emmons, 80(4) (1998), 19-42

Selected Publications in Edited Volumes

“Mergers and Acquisitions in Germany: Social Setting and Regulatory Framework,” with Mark Wahrenburg, in: Jan Pieter Krahnen and Reinhard H. Schmidt (eds.), The German Financial System, Oxford (U.K.): Oxford University Press (2004), 261-287

Selected Actuarial Publications

“The Impact of Physician Fee Schedule Changes in Workers Compensation: Evidence From 31 States,” with Nathan Lord, National Council on Compensation Insurance, 2013

“Loss Cost Components and Industrial Structure,” Casualty Actuarial Society E-Forum, Spring 2013 (1), 1-20

“The Impact of Physician Fee Schedule Introductions in Workers Compensation: An Event Study,” with Nathan Lord, Casualty Actuarial Society E-Forum, Spring 2013 (1), 1-36

“The Workers Compensation Tails,” Casualty Actuarial Society Variance 6(1) (2012), 48-77

“Indemnity Benefit Duration, Maximum Weekly Benefits, and Claim Attributes,” Casualty Actuarial Society E-Forum, Winter 2011 (2), 1-35

“Workplace Injuries and Job Flows,” Social Sciences Research Network (SSRN), 2009