The paper, “Money Market Funds Run Risk: Will Floating Net Asset Value Fix the Problem?,” stems from Gandia’s work as a research assistant for Gordon during the summer after Gandia’s first year at the Law School. It addresses the recent proposals to stem the risk of MMFs by moving the funds from a fixed one-dollar net asset value (NAV) to a floating NAV. The paper has been cited by the Department of Treasury’s Financial Stability Oversight Council and the European Systemic Risk Board, both of which were established in the wake of the recent financial crisis.
Gordon, the Richard Paul Richman Professor of Law and co-director of the Richman Center for Business, Law, and Public Policy, has done extensive work on money-market funds.
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