Department of Finance

cmfi

Department of Finance

Claus
Munk
Professor
,
Ph.D


Kontor: SOL/A5.13
Tel:
+4538152265
E-mail: cm.fi@cbs.dk
Præsentation

Most of my recent research focuses on developing models for the investment and consumption decisions of individuals and households of the life cycle. These models are extending traditional models by taking into account the housing decisions and the labor income flow of the households in order to establish a more realistic framework for understanding real-life household decisions and for improving the professional investment advice to households. Various aspects of these models still need to be explored and I am involved in several research projects doing so. My other research interests are in general asset pricing theory, the pricing of fixed-income securities, numerical methods in finance, and management compensation.

Primære forskningsområder
  • Investment and consumption decisions of individuals and households
  • Asset allocation
  • Asset pricing theory
Administrative opgaver


Links

More information about Claus Munk

Link til denne hjemmeside
www.cbs.dk/staff/cmfi
Kurser

Teaching 2022:

  • Investments (MSc FIN)
  • Financial Markets & Instruments (MSc FSM)

 

Vejledning


Andre undervisningsaktiviteter

Theoretical Asset Pricing (Graduate School of Finance, Finland)

Udvalgte publikationer
  • Bick, B., Kraft, H., & Munk, C. (2012). Solving Constrained Consumption-Investment Problems by Simulation of Artificial Market Strategies. Management Science, forthcoming.
  • Christensen, P.O., Larsen, K., & Munk, C. (2012). Equilibrium in Securities Markets with Heterogeneous Agents and Unspanned Income Risk. Journal of Economic Theory, 147(3), 1035-1063.
  • Kraft, H., & Munk, C. (2011). Optimal Housing, Consumption, and Investment Decisions over the Life-Cycle. Management Science, 57(6), 1025-1041.
  • Munk, C. (2011). Fixed Income Modelling. Oxford University Press.
  • Munk, C., & Sørensen, C. (2010). Dynamic Asset Allocation with Stochastic Income and Interest Rates. Journal of Financial Economics, 96(3), 433-462.
Publikationer sorteret efter:
2024
Linda Sandris Larsen; Claus Munk; Rikke Sejer Nielsen; Jesper Rangvid / How Do Interest-only Mortgages Affect Consumption and Saving over the Life Cycle?
I: Management Science, Vol. 70, Nr. 3, 3.2024, s. 1970-1991
Tidsskriftartikel > peer review
2023
Linda Sandris Larsen; Claus Munk / The Design and Welfare Implications of Mandatory Pension Plans
I: Journal of Financial and Quantitative Analysis, Vol. 58, Nr. 8, 12.2023, s. 3420-3449
Tidsskriftartikel > peer review
2022
Holger Kraft; Claus Munk; Farina Weiss / Bequest Motives in Consumption-portfolio Decisions with Recursive Utility
I: Journal of Banking & Finance, Vol. 138, 5.2022
Tidsskriftartikel > peer review
Søren Fiig Jarner; Claus Munk; Mogens Steffensen / Pension Product Design and Relations to the Danish Market
I: The Danish Pension System: Design, Performance, and Challenges. . red. /Torben M. Andersen; Svend E. Hougaard Jensen; Jesper Rangvid. Oxford : Oxford University Press 2022, s. 78-117
Bidrag til bog/antologi > peer review
Christoph Hambel; Holger Kraft; Claus Munk / Solving Life-cycle Problems with Biometric Risk by Artificial Insurance Markets
I: Scandinavian Actuarial Journal, Nr. 4, 5.2022, s. 307-327
Tidsskriftartikel > peer review
2020
Claus Munk / A Mean-variance Benchmark for Household Portfolios over the Life Cycle
I: Journal of Banking & Finance, Vol. 116, 7.2020
Tidsskriftartikel > peer review
2019
Nicole Branger; Linda Sandris Larsen; Claus Munk / Hedging Recessions
Paper presented at Midwest Finance Association 2019 Annual Meeting , 2019
Paper > peer review
Nicole Branger; Linda Sandris Larsen; Claus Munk / Hedging Recessions
I: Journal of Economic Dynamics and Control, Vol. 107, 10.2019
Tidsskriftartikel > peer review
Holger Kraft; Claus Munk; Farina Weiss / Predictors and Portfolios Over the Life Cycle
I: Journal of Banking & Finance, Vol. 100, 3.2019, s. 1-27
Tidsskriftartikel > peer review
2018
Nicole Branger; Linda Sandris Larsen; Claus Munk / Hedging Recessions
Paper presented at 25th Annual Meeting of the German Finance Association. DGF 2018, 2018
Paper > peer review
Flere resultater ...(i alt 36 )
Faglige interesser


Forskningsprojekter
Bibeskæftigelse
  • Course teacher and organizer, Doctoral School of Finance, Finland, 2015-2022
  • Consulting, Forsikring & Pension (Insurance & Pension Denmark), 2017-2020
  • Course teacher and organizer, Den Danske Aktuarforening (The Danish Society of Actuaries), 2018