Christof W. Stahel

Assistant Director
Office of Asset Management

Education Summary

  • Ph.D. Finance, The Ohio State University, 2004
  • M.A. Economics, The Ohio State University, 1997
  • M.A. (summa cum laude) Economics with specialization in Econometrics, University of Zürich (Switzerland), 1996

Fields of Interest

  • Asset Pricing
  • International Financial Markets
  • Financial Crises
  • Assistant Director
    Division of Economic and Risk Analysis
    U.S. Securities and Exchange Commission
    2013–present
  • Financial Economist
    Division of Economic and Risk Analysis
    U.S. Securities and Exchange Commission
    2012–2013
  • Assistant Professor of Finance
    School of Management
    George Mason University
    2004–2011
  • Fellow
    Center for Financial Research
    Federal Deposit Insurance Corporation
    2009–2011
  • Visiting Assistant Professor
    Department of Finance
    University of Delaware
    2003
  • Economist
    Statistics Department and Banking Studies Department
    Swiss National Bank
    1997–1999
  • Lecturer (Econometrics)
    Department of Agricultural Economics
    Swiss Federal Institute of Technology
    1993–1995
  • Ryan Goodstein, Paul Hanouna, Carlos Ramirez, and Christof W. Stahel, Contagion Effects in Strategic Mortgage Defaults, Journal of Financial Intermediation, (forthcoming).
  • Daniel Deli, Paul Hanouna, Christof W. Stahel, Yue Tang, and William Yost, 2015, Use of Derivatives by Registered Investment Companies, Division of Economic and Risk Analysis White Paper Series.
  • Paul Hanouna, Jon Novak, Tim Riley, and Christof W. Stahel, 2015, Liquidity and Flows of U.S. Mutual Funds, Division of Economic and Risk Analysis White Paper Series.
  • Gergana Jostova, Stanislava (Stas) Nikolova, Alexander Philipov and Christof W. Stahel, 2013, Momentum in Corporate Bond Returns, Review of Financial Studies 26, 1649-1693.
  • Nicole M. Boyson, Christof W. Stahel, and René M. Stulz, 2012, Liquidity Shocks and Hedge Fund Contagion, The Journal of Investment Management 10, 13-34.
  • Nicole M. Boyson, Christof W. Stahel, and René M. Stulz, 2010, Hedge Fund Contagion and Liquidity Shocks, Journal of Finance 65,1789–1816.
  • Nicole M. Boyson and Christof W. Stahel, 2010, Liquidity and Hedge Fund Contagion, in Robert W. Kolb, ed. Financial Contagion: The Viral Threat to the Wealth of Nations (John Wiley & Sons, Inc).
  • Michel Peytrignet and Christof W. Stahel, 1998, Stability of Money Demand in Switzerland: A Comparison of the M2 and M3 Cases 23, Empirical Economics 437-454.
  • Vikas Agarwal, Paul Hanouna, Rabih Moussawi, and Christof W. Stahel, Do ETFs Increase the Commonality in Liquidity of Underlying Stocks.
  • Giulio Girardi, Youchang Wu and Christof Stahel, Fund Liquidity Demand and Systemic Risk.
  • Gopa Biswas, Stas Nikolova and Christof Stahel, The Transaction Costs of Trading Corporate Credit.
  • Jeffrey H. Harris and Christof W. Stahel, Funding Constraints and Liquidity Contagion in U.S. Equity and Treasury Markets.
  • Ryan Goodstein, Paul Hanouna, Carlos Ramirez, and Christof W. Stahel, Are Foreclosures Contagious?
  • Nicole M. Boyson, Christof W. Stahel, and René M. Stulz, Why Do Hedge Funds' Worst Returns Cluster? Common Liquidity Shocks vs. Contagion.
  • Nicole M. Boyson, Christof W. Stahel, and René M. Stulz, Hedge Fund Contagion and Liquidity.
  • Christof W. Stahel, Are Foreign Investors Better Informed? Evidence from the Return–Volume Relationship.
  • Kuan-Hui Lee and Christof W. Stahel, Are Extreme Negative Liquidity Shocks in the US Equity and Treasury Notes Markets Contagious?
  • Nicole M. Boyson, Christof W. Stahel, and René M. Stulz, Is there Hedge Fund Contagion?
  • Dong-Wook Lee, Kuan-Hui Lee, and Christof W. Stahel, Liquidity, Liquidity Risk, and Holding Period.
  • Christof W. Stahel, Liquidity across Developed and Emerging Equity Markets.
  • Christof W. Stahel, Is There a Global Liquidity Factor?
  • Christof W. Stahel, International Liquidity Risk.

CONFERENCE ACTIVITIES

  • Paper presentation, 2015 AFA Conference
  • Paper presentation, 2015 FIRS Conference
  • Paper presentation, 2015 Fixed Income Conference
  • Paper presentation, 2012 WFA Conference
  • Paper presentation (by co-author), 2011 Asian Finance Association Conference
  • Paper presentation (by co-author), 2011 FIRS Conference
  • Paper presentation (by co-author), 2011 MFS Annual Conference
  • Paper presentation (by co-author), 2011 World Finance Conference
  • Paper presentation, 2010 FMA Conference
  • Paper presentation, 2010 EFMA Conference
  • Paper presentation, 2009 WFA Conference
  • Paper presentation, 2009 EFMA Conference
  • Paper presentation, 2009 AFA Conference
  • Paper presentation (by co-author), 2008 Northfield Information Services 14th Annual Summer Seminar
  • Paper presentation (by co-author), 2008 Wharton Impact Conference, A Global Perspective on Alternative Investments
  • Paper presentation (by co-author), 2008 RSM Erasmus University One Day Conference on Professional Asset Management
  • Paper presentation, 2007
  • FDIC/JFSR Banking Research Conference
  • Paper presentation, 2007 FMA Conference
  • Paper presentation (by co-author), 2006 FMA Conference
  • Paper presentation (by co-author), 2006 Recent Research on Hedge Funds and Performance
  • Paper presentation, 2005 FMA Conference
  • Paper presentation, 2005 Southern Finance Association Conference

UNIVERSITY PRESENTATIONS

  • Texas Tech University, 2014 (by co-author)
  • U.S. Securities and Exchange Commission, 2013
  • University of Nebraska-Lincoln, 2013 (by co-author)
  • DePaul University, 2012
  • U.S. Securities and Exchange Commission, 2011
  • The Ohio State University, 2011
  • International Monetary Fund, 2010
  • Federal Deposit Insurance Corporation, 2010
  • George Mason University, 2010
  • Villanova University, 2009
  • Chartered Alternative Investment Analyst Association, 2007
  • George Mason University, 2006
  • HEC Montreal, 2004
  • University of West Virginia, 2004
  • Queens University, 2004
  • George Mason University, 2004

Previous SEC Positions: