Holger Kraft

Visiting Professor of Finance
“Wilhelm von Humboldt was important for the development of universities, as one of his core ideas was to propagate a holistic combination of research and studies. Humboldt said, ‘How a person masters his or her fate is more important than what that fate is.’”
(310) 825-2764




Holger Kraft is a professor of finance at Goethe University, Frankfurt am Main. His research explores a variety of topics in finance, including asset pricing, portfolio choice, credit risk and risk management. He has coauthored scholarly articles on these subjects that have been published in peer-reviewed journals such as Review of Financial Studies, Management Science and Journal of Economic Theory.

Kraft serves as an associate editor of the Journal of Economic Dynamics and Control and the Journal of Credit Risk. He is a research fellow at the Center for Financial Studies and principal investigator of the Sustainable Architecture for Finance in Europe (SAFE) research center, funded by the Hessian excellence initiative LOEWE.

He holds a Ph.D. in financial mathematics from the Technical University of Kaiserslautern, Germany. He also has a B.S. and M.S. in mathematics and a B.S. and M.S. in business administration.



Ph.D. Financial Mathematics, Technical University of Kaiserslautern, Germany


Selected Publications

Housing habits and their implications for life-cycle consumption and investment (with Claus Munk and Sebastian Wagner), Review of Finance 22, 1737-1762, 2018.

The dynamics of crises and the equity premium (with Nicole Branger and Christoph Meinerding), Review of Financial Studies 29, 232-270, 2016.

Stochastic differential utility as the continuous-time limit of recursive utility (with Frank Seifried), Journal of Economic Theory 151, 528-550, 2014.

Solving constrained consumption-investment problems by simulation of artificial market strategies (with Bjoern Bick and Claus Munk), Management Science 59, 485-503, 2013.

Optimal housing, consumption, and investment decisions over the life-cycle (with Claus Munk), Management Science 57, 1025-1041, 2011.