My current research focuses on the finance of pensions and long-term investments. In particular, I study how liquid and illiquid assets affect valuation, discounting, and risk management in global pension systems; how plan design across defined benefit, defined contribution, hybrid, and risk-pooling arrangements shapes sponsor and member outcomes; and how liquidity influences pricing, expected returns, and long-term value. To address these issues, I combine methods from asset pricing, actuarial science, and financial economics.This area offers excellent opportunities for PhD students interested in asset pricing, actuarial science, and global retirement policy.

I welcome doctoral applicants for PhD under my supervision. The applicant is expected to have good quantitative skills (statistics, actuarial science, or mathematical modeling) and strong academic background.