Ralph Rogalla, Ph.D.

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Associate Professor
Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science
The Peter J. Tobin College of Business
PhD, Business Administration in Finance, Goethe UniversityMA, Economics, Technical University
Dr. Rogalla joined St. John’s University as an assistant professor in the School of Risk Management, Insurance and Actuarial Science in September 2015. He received his Ph.D. in Finance and his habilitation from Goethe University in Frankfurt, Germany, and holds a diploma in economics from Technical University Berlin, Germany. Before joining St. John's, he taught undergraduate, graduate, and postgraduate courses on pension finance, investments, capital markets, and computational finance at Goethe University Frankfurt and Frankfurt University of Applied Sciences. In 2014 he was Metzler Visiting Professor at the Wharton School, University of Pennsylvania. His research focuses on pension finance and household portfolio choice.

Teaching Interests

Actuarial Sciences, Finance, Household Risk Management

Research Interests

Pension Finance, Lifecycle Portfolio Choice, Optimal Insurance Demand

Courses Taught

ACT
601
FINANCIAL MATHEMATICS I
ACT
2334
ACTUARIAL SCIENCE IV
RMI
601
RISK MANAGEMENT
RMI
602
RISK RESEARCH METHODS

Select Publications

Journal Articles

Maurer, R., Mitchell, O. S., Rogalla, R., and Siegelin, I. (2016). Accounting and Actuarial Smoothing of Retirement Payouts in Participating Life Annuities. Insurance: Mathematics and Economics. vol. 71, pp. 268-283.

Horneff, V., Maurer, R., Mitchell, O. S., and Rogalla, R. (2015). Optimal Life Cycle Portfolio Choice with Variable Annuities Offering Liquidity and Investment Downside Protection. Insurance: Mathematics and Economics. vol. 63, pp. 91-107.

Horneff, V., Kaschützke, B., Maurer, R., and Rogalla, R. (2014). Welfare Implications of Product Choice Regulation During the Payout Phase of Funded Pensions. Journal of Pension Economics and Finance. vol. 13, pp. 272-296.

Hubener, A., Maurer, R., and Rogalla, R. (2014). Optimal Portfolio Choice with Annuities and Life Insurance for Retired Couples. Review of Finance. vol. 18, pp. 147-188.

Maurer, R., Mitchell, O. S., Rogalla, R., and Kartashov, V. (2013). Lifecycle Portfolio Choice With Systematic Longevity Risk and Variable Investment-linked Deferred Annuities. Journal of Risk and Insurance. vol. 80, pp. 649-676.

Maurer, R., Rogalla, R., and Siegelin, I. (2013). Participating Payout Life Annuities - Lessons from Germany. ASTIN Bulletin. vol. 43, pp. 159-187.

Maurer, R., Rogalla, R., and Shen, Y. (2012). The Liquidity Crisis of German Open-end Real Estate Funds and their Impact on Optimal Asset Allocation in Retirement . Zeitschrift für Betriebswirtschaft. vol. 82, pp. 79-107.

Horneff, W., Maurer, R., and Rogalla, R. (2010). Dynamic Portfolio Choice with Deferred Annuities . Journal of Banking and Finance. vol. 34, pp. 2652-2664.

Maurer, R., Mitchell, O. S., and Rogalla, R. (2009). Managing Contribution and Capital Market Risk in a Funded Public Defined Benefit Plan: Impact of CVaR Cost Constraints. Insurance: Mathematics and Economics. vol. 45, pp. 25-34.

Maurer, R., Reiner, F., and Rogalla, R. (2004). Return and Risk of German Open-End Real Estate Funds . Journal of Property Research. vol. 21, pp. 209-233.

Books Chapters

Chai, J., Maurer, R., Mitchell, O. S., and Rogalla, R. (2012). Life Cycle Impacts of the Financial Crisis on Optimal Consumption-Portfolio Choices and Labor Supply. In: Reshaping Retirement Security: Lessons from the Global Financial Crisis. Oxford: Oxford University Press. pp. 120-151.

Rogalla, R., Maurer, R., and Mitchell, O. S. (2010). The Effect of Uncertain Labor Income and Social Security on Life-cycle Portfolios. In: Reorienting Retirement Risk Management. Oxford: Oxford University Press. pp. 107-121.

Maurer, R., Mitchell, O. S., and Rogalla, R. (2009). Reforming German Civil Servant Pensions: Funding Policy, Investment Strategy, and Intertemporal Risk Budgeting. In: The Future of Public Employee Retirement Systems. Oxford: Oxford University Press. pp. 115-142.

Maurer, R., Mitchell, O. S., and Rogalla, R. (2008). The Victory of Hope over Angst? Funding, Asset Allocation, and Risk-Taking in German Public Sector Pension Reform. In: Frontiers in Pension Finance. Cheltenham: Edward Elgar. pp. 51-79.

Albrecht, P., Coche, J., Maurer, R., and Rogalla, R. (2006). Understanding and Allocating Investment Risks in a Hybrid Pension Plan. In: Restructuring Retirement Risks. Oxford: Oxford University Press. pp. 204-225.