Professor of Finance
Felix Kübler is Full Professor of Finance at the University of Zurich and has held an SFI Senior Chair since 2008. He obtained his PhD in Economics from Yale University. Before joining the faculty in Zurich, Prof. Kübler held professorships at Stanford University, the University of Pennsylvania, and the University of Mannheim. He also serves on the editorial boards of several economics and finance journals.
Listen to Prof. Felix Kübler speak about his research.
His research interests lie in theoretical financial economics and computational methods.
In a recent study, Prof. Kübler and his co-authors examine the quantitative effects of margin regulation on volatility in asset markets. To do so they consider a general equilibrium economy with heterogeneous agents and collateral agents. In their model, two assets can be used as short-term collateral, one where the margin requirement is determined exogenously and one where the margin requirement is determined endogenously. The presence of collateral constraints leads to strong excess volatility and the regulation of margin requirements may have stabilizing effects. Further calculations also show that a counter-cyclical margin regulation of all asset classes in the economy has a very strong dampening effect on asset return volatility.