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Kjell G. Nyborg is Professor of Finance at the University of Zurich. Professor Nyborg has published extensively in his areas of expertise and has spent research periods at the European Central Bank, the Deutsche Bundesbank, the Bank of Norway, and Stanford University. He is a former President of the European Finance Association.

Expertise

Professor Nyborg focuses on the role of money, liquidity, and central bank policies in financial markets and the economy. His recent work addresses issues such as how central bank collateral policy affects the yield curve, how stock liquidity affects corporate cash holdings, how repo and unsecured rates are linked, and how monetary conditions affect stock returns. His work suggests that since the financial crisis, we have been in a vicious cycle of increasingly accommodative monetary policies, which is proving challenging to break. Professor Nyborg actively participates in SFI Knowledge Exchange activities on central banks, financial markets, and financial valuation.

Expertise Fields

  • Financial Markets
    • Central Banks and Monetary Policy
    • Financial Crises
  • Portfolio Management and Asset Classes
    • Equities
    • Fixed Income
  • Financial Institutions
    • Banks
  • Corporate Finance and Governance
    • Capital Budgeting and Investment Policy
    • Financial Valuation
    • Financing Policy and Capital Structure

Current Publications:

N°24-37: The Collateral Spread Puzzle: Why Do Repo Rates Often Exceed Unsecured Rates?

N°24-17: The Price of Money: The Reserves Convertibility Premium over the Term Structure

Central Banks: Money, Policies, and Impact

N°24-03: Robust difference-in-differences analysis when there is a term structure

N°23-74: LBO Valuation Using Flows to Equity

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