Wisconsin School of Business

Robert Krainer

Professor - Finance

Robert Krainer is a professor of Finance, Investment, and Banking in the Wisconsin School of Business.

His research focuses on business cycles, corporate finance, financial markets, and international trade/finance.

He has published articles in the Journal of Finance; Journal of Political Economy; Journal of Money, Credit, and Banking; Oxford Economic Papers; Oxford Bulletin of Economics and Statistics; Southern Economic Journal; Canadian Journal of Economics; International Review of Law and Economics; Journal of Financial and Quantitative Analysis; and Journal of Financial Stability.

Krainer has been on the faculty at the University of Oxford and was a visiting scholar and a Foundation Fellow at the Banque de France. He teaches courses in financial institutions, financial markets, economic activity, and corporate finance. He has been a guest lecturer at many universities including the University of Chicago, Washington University at Saint Louis, Universite Libre de Bruxelle, Norwegian School of Management, City University of London, University of Zurich, Universite de Bourgogne, University of Birmingham (England), DePaul University, University of Urbino, and Bocconi University.

He earned his Ph.D. from the University of Michigan in 1964 and held a postdoctoral fellowship at the department of Economics at Harvard University in 1965.
 

Selected Published Journal Articles


krainer, R. (2017). Economic Stability under Alternative Banking Systems. Journal of Financial Stability (31), 107 - 118.
Krainer, R. (2014). Monetary Policy and Bank Lending in the Euro Area: Is there a Stock Market Channel or an Interest Rate Channel?. Journal of International Money and Finance (49), 283-298.
Krainer, R. (2014). "Financial Aspects of Business Cycles". Journal of Money, Credit, and Banking (46), 372-407.
Krainer, R. (2013). Towards a Program for Financial Stability. Journal of Economic Behavior and Organization (85), 207-218.
Krainer, R. (2012). Regulating Wall Street: The Dodd-Frank Act and the New Architecture of Global Finance - A Review. Journal of Financial Stability (8), 121-133. doi: 10.1016/j.jfs.2011.05.001.
Krainer, R. (2009). Portfolio and financing adjustment of U.S. banks: Some empirical evidence. Journal of Financial Stability (Vol 5), 1-25. doi: 10.1016/j.jfs.2008.04.003.
Krainer, R. (2003). Corporate Finance, Governance, and Business Cycles. , 334.
Krainer, R. (2002). Banking in a Theory of the Business Cycle: A Model and Critique of the Basle Accord on Risk-Based Capital Requirements for Banks. International Review of Law and Economics (21), 413-433. doi: 10.1016/S0144-8188(01)00078-3.
Krainer, R. (2000). Risk Sharing, Return Sharing, and Arbitrage: A Contribution to the Corporate Finance of Business Cycles. Journal of the French Finance Association, N/A.

Practitioner-Oriented Publications


Krainer, R. (2015). The Consumer Financial Protection Bureau: A Five-Year Retrospective. Journal of Law and Public Policy (10), 17-32.

Presentations


11th Financial Risk Forum ( 2018 ) Financial Contracting as Behavior Towards Risk: The Corporate Finance of Business Cycles

International Financial Risk Forum ( 2018 ) Financial Contracting as Behavior Towards Risk: The Corporate Finance of Business Cycles

International Financial Risk Forum ( 2018 ) Financial Contracting as Behavior Towards Risk: The Corporate Finance of Business Cycles

34th International conference of the French Finance Association ( 2017 ) Economic Stability under Alternative Banking Systems: Theory and Policy

34th International conference of the French Finance Association ( 2017 ) Employment Protection and Payout Policy

34th International conference of the French Finance Association ( 2017 ) Discussed "The risk and Return Effects of U.S. Banking Competition and Securitization"

34th International conference of the French Finance Association ( 2017 ) Financial Contracting as Behavior Towards Risk: The Corporate Finance of Business Cycles

Central Bank of Iceland ( 2016 ) Economic Stability under Alternative Banking Systems

The Role of Money in the Modern Economy ( 2016 )
Conference on Empirical Legal Studies in Europe ( 2016 ) The Consumer Financial Protection Bureau: A Five Year Retrospective

Edinburgh Conference on Legal Institutions and Finance ( 2016 ) "Financial Contracting as Behavior Towards Risk: The Corporate Finance of Business Cycles

Fall Symposium on Law and Public Policy ( 2015 ) The Consumer Financial Protection Bureau: A Five Year Retrospective

32nd International Symposium on Money, Banking, and Finance ( 2015 ) Economic Stability under Alternative Banking Systems

Achieving Sustainable Financial Stability ( 2014 ) Economic Stability under Alternative Banking Systems

Institute of Finance ( 2014 ) Economic Stability under Alternative Banking Systems

31st SUERF Colloquium & Baffi Finlawmetrics Conference ( 2014 ) A Capital Budgeting Model of Bank Lending

16th INFER ( 2014 ) Monetary Policy and Bank Lending in the Euro Area: Is there a Stock Market Channel or an Interest Rate Channel?

Finance in Turbulent Times ( 2013 )
Finance in Turbulent Times ( 2013 )
International Network for Economic Research ( 2013 ) Current Issues in Bank Regulation

International Conference on the Global Financial Crisis: European Financial Markets and Institutions ( 2013 )
Baltic Sea Colloquium in International Economics ( 2013 ) Monetary Policy and Bank Lending in the Euro Area

Baltic Sea Colloquium in International Economics ( 2013 ) Monetary Policy and Bank Lending in the Euro Area

Baltic Sea Colloquium in International Economics ( 2013 ) Monetary Policy and Bank Lending in the Euro Area

5th International Forum on Financial Risk ( 2012 ) "Economic Stability under Alternative Banking Systems"

XX International Conference on Banking and Finance ( 2011 ) Economic Stability under Alternative Banking Systems

Post-Crisis Financial Sector Performance ( 2011 ) "Towards a Program for Monetary Stability"

Seminar Presentation in the Department of Economics, Bangor University ( 2011 ) "On the Role of a Stock Market in the European Bank Loan Market: A Study of France, Germany, and the Euro Area"

Colloquium on New Paradigms in Money & Finance ( 2011 ) "On the Role of a Stock Market in the European Bank Loan Market: A Study of France, Germany, and the Euro Area"

Colloquium on New Paradigms in Money & Finance ( 2011 ) "Towards a Program for Financial Stability"

Conference on the Financial Crisis of 2008: Credit Markets and Effects on Developed and Emerging Countries ( 2010 ) Roundtable Discussant

27th Symposium on Money, Banking, and Finance ( 2010 ) On the Role of a Stock Market in the European Bank Loan Market: A Study of France, Germany and the Euro Area

Rimini Conference in Economics and Finance ( 2010 ) On the Role of a Stock Market in the European Bank Loan Market: A Study of France, Germany, and the Euro Area

Seminar in Economics ( 2010 ) On the Role of a Stock Market in the European Bank Loan Market: A Study of France, Germany, and Italy

Infinity Conference on International Finance ( 2009 ) On the Role of a Stock Market in the European Bank Loan Market

Bocconni University ( 2008 ) Portfolio and Financing Adjustments of U.S. Banks: An Empirical Analysis

Banque de France ( 2007 ) Bank Lending in the Euro Area

Finance Seminar ( 2007 ) Corporate Finance from the Perspective of Bondholders

Banque de France ( 2007 ) Portfolio and Financing Adjustments of U.S. Banks Over the Business Cycle

Banque de France ( 2007 ) Corporate Finance from the Perspective of Bondholders

Symposium on Small Open Economies in a Globalized World ( 2006 ) Banking and Business Cycles: Some Empirical Evidence and Policy Implications

22nd Symposium on Banking and Monetary Economics ( 2005 ) Financial Aspects of Business Cycles: An Analysis of Balance Sheet Adjustments of U.S. Nonfinancial Enterprises over the Twentieth Century

Finance Seminar ( 2005 ) Banking in a Theory of the Business Cycle: Some Empirical Evidence

20th Symposium on Banking and Monetary Economics ( 2003 ) Banking, Business Cycles, and the Basle Accord: Some Emperical Evidence

Finance Seminar ( 2002 ) Corporate Governance and Business Cycles in the G-7 Countries: Do Institutions Really Matter?

5th CASLE Workshop in Law and Economics ( 2002 ) Corporate Governance and Business Cycles in the G-7 Countries: Do Institutions Really Matter?

8th Annual Conference of the Multi-National Finance Society ( 2001 ) Corporate Governance and Business Cycles in the G-7 Countries: Do Institutions Really Matter?

Series of five lectures ( 2001 ) Money, Finance, and the Economy

European Association of Law and Economics ( 2000 ) Banking in a Theory of the Business Cycle: A Model and Critique of the Basle Accord on Risk Based, Capital Requirements for Banks

8th World Congress of the Econometric Society ( 2000 ) Corporate Governance and Business Cycles in the G-7 Countries: Do Institutions Really Matter?

Finance Seminar ( 2000 ) Corporate Governance and Business Cycles in the G-7 Countries: Do Institutions Really Matter


Undergraduate Courses


Readings and Research in Finance
Course DescriptionAn analysis of selected proposals contained in the 2010 Dodd-Frank Act of Regulating Wall Street such as the so-called Volcker Rule, CoCo bonds, Living Wills, and others.
(FIN 399 Section 1), Spring 2011.

Corporation Finance
Course DescriptionDevelopment of the theory, method and analytical techniques of financial management. Techniques of capital budgeting; valuation of projects and firms; theory of capital structure; dividend policy; cost of capital; mergers and acquisitions.
(FIN 325 Section 3), Spring 2008.

Finc Mrkts
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305 Section 1), Fall 2008.

Finc Mrkts
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305 Section 2), Fall 2008.

Financial Markets, Institutions and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305), Fall 2001.

Financial Markets, Institutions and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305), Fall 2002.

Financial Markets, Institutions and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305), Fall 2003.

Financial Markets, Institutions and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305), Spring 2003.

Financial Markets, Institutions and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305), Fall 2004.

Financial Markets, Institutions and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305), Fall 2004.

Financial Markets, Institutions and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305), Spring 2004.

Financial Markets, Institutions and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305), Spring 2001.

Financial Markets, Institutions and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305), Fall 2005.

Financial Markets, Institutions and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305), Fall 2005.

Finc Mrkts,Instns&Econ Actv
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305 Section 1), Fall 2009.

Finc Mrkts Instns&Econ Actv
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305 Section 2), Fall 2009.

Financial Markets, Institutions and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305), Fall 2006.

Financial Markets, Institutions and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305), Fall 2006.

Finc Mrkts Instns&Econ Actv
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305 Section 1), Fall 2010.

Financial Markets, Institutions, and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305 Section 2), Fall 2007.

Financial Markets, Institutions, and Economic Activity
Course DescriptionAn analysis of the U.S. financial system, its responsiveness to and impact on economic activity and policy, its procedures for assessing and pricing risks on various financial instruments, and its role in the allocation of funds to different sectors in the economy.
(FIN 305 Section 1), Fall 2007.



Graduate Courses


Course DescriptionSeminar primarily devoted to the generation of original research in the field of finance for the Ph.D. dissertation and subsequent publication in the academic literature.
(FIN 973), Spring 2001.

Financial Market and Business Conditions
Course DescriptionExploration of the interaction between the financial system and real business activity both within a closed system and open economy.
(FIN 705), Fall 2002.

Financial Market and Business Conditions
Course DescriptionExploration of the interaction between the financial system and real business activity both within a closed system and open economy.
(FIN 705), Fall 2003.

Financial Market and Business Conditions
Course DescriptionExploration of the interaction between the financial system and real business activity both within a closed system and open economy.
(FIN 705), Spring 2001.

Introduction to Financial Management
Course DescriptionIntroduction to financial management of firms and investment decision making; both theory and practice are emphasized. Topics covered include the financial environment and securities markets, financial statements and analysis, working capital management and capital budgeting, cost of capital, dividend policy, asset valuation, investments, decision making under uncertainty and selected topics such as mergers, options, futures.
(FIN 700), Spring 2005.

Introduction to Financial Management
Course DescriptionIntroduction to financial management of firms and investment decision making; both theory and practice are emphasized. Topics covered include the financial environment and securities markets, financial statements and analysis, working capital management and capital budgeting, cost of capital, dividend policy, asset valuation, investments, decision making under uncertainty and selected topics such as mergers, options, futures.
(FIN 700), Spring 2006.



Editorial and Reviewing Activities


"SME Financing and Securitization: Firm-level Evidence from the Euro Area" - January 2017 - December 2017
Ad Hoc Reviewer

Journal of Financial Stability - Since January 0001
Ad Hoc Reviewer

Revue Economique (French) - Since January 0001
Ad Hoc Reviewer

"Macs and PCs: Observations of the Canadian, U.S., and Global Financial Systems" - Since January 0001
Invited Manuscript Reviewer


Photograph of Robert Krainer

Robert Krainer

 
Professor | Finance
(608) 263-1253
3110 Grainger Hall