Ralph S.J. Koijen

Ralph S. J. Koijen conducts research on decentralized and delegated investment management, real estate finance, household finance, asset pricing, and financial econometrics. He has taught undergraduate, graduate, and MBA-level courses at the NYU Stern School of Business and Tilburg University in the Netherlands. He has held internships at ABN-AMRO in the product development group and a research position at ABP Investments.

His published research includes "Optimal Decentralized Investment Management," which appeared in the Journal of Finance.

Koijen has received grants from the International Center for Pension Management in Toronto, the Federal Deposit Insurance Corporation (FDIC) in Washington DC, the NWO in the Netherlands, and the Observatoire de l'Epargne Europeenne in Paris. He is a referee for the Journal of Finance, the Review of Financial Studies, the Journal of Econometrics, the Journal of Empirical Finance, Management Science, the Journal of Financial Econometrics, the Journal of Applied Econometrics, Economic Inquiry, and Research in International Business and Finance.

Koijen earned a master's degree in financial econometrics with highest honors in 2003 from Tilburg University. He received a PhD in finance in April 2008 from the Center Graduate School at the same institution. He also spent time as a visiting graduate student at Fuqua School of Business at Duke University, and has been a visiting assistant professor at the NYU Stern School of Business. Koijen joined the Chicago Booth faculty in 2008. "I would like students to understand the economic theories that have been developed and to show how such models can be implemented in practice. Most theoretical insights are implemented in a reduced-form way and improving the link between theory and its empirical implementation is key to make sound investment decisions."

His interests include sports, particularly speed skating, soccer, and tennis.

Selected Publications

With Otto Van Hemert and Stijn Van Nieuwerburgh, "Mortgage Timing," Journal of Financial Economics (2009).

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With Theo E. Nijman and Bas J.M. Werker, "When Can Life-Cycle Investors Benefit from Time-Varying Bond Risk Premia?," Review of Financial Studies (2009).

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With Juan-Carlos Rodriguez and Alessandro Sbuelz, "Momentum and Mean-Reversion in Strategic Asset Allocation," Management Science (2009).

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With Jules H. van Binsbergen and Michael W. Brandt, "Optimal Decentralized Investment Management," Journal of Finance (2008).

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