Research Scholar at the Stanford Institute for Economic Policy Research (SIEPR) at Stanford University
Alissa M. Kleinnijenhuis is a Research Scholar at the Stanford Institute of Economic Policy Research (SIEPR) at Stanford University. Alissa is a Co-PI of a Market Ecology & Financial Stability Grant, supervising four PhD students, and Co-Founder of the Climate Stress Testing and Scenarios Project. She is teaching a novel course at Stanford University in Fall 2021 on Climate Finance.
Kleinnijenhuis’ research examines how finance can advance the public good, focusing on how we can design more resilient financial systems and avert a climate crisis. Her two focal areas of research are financial crises and climate finance, linked by their emphasis on addressing externalities emerging from too-big-to-fail (or too-many-to-fail) financial institutions and climate change. Subtopics of special relevance in her studies are financial regulation, models of contagion and systemic risk, financial stress testing, financial intermediation, market microstructure, monetary policy, asset pricing, and climate financial risks and opportunities.
Dr. Kleinnijenhuis holds a BS from Utrecht University in Economics and Mathematics (cum laude), a MSc in Mathematics and Finance from the Imperial College London, and a DPhil (PhD) in Mathematical and Computational Finance from the University of Oxford. She was a Postdoctoral Fellow at the MIT Sloan School of Management and the MIT Golub Centre for Finance and Policy (GCFP) at the Massachusetts Institute of Technology. She has been a Visiting Scholar at Yale University and the University of California Santa Barbara, and has conducted research at Morgan Stanley and Allianz Global Investors.
Find her personal website here.
No. 2022-07 - The Great Carbon Arbitrage
01 Jun 22
We measure the gains from phasing out coal as the social cost of carbon times the quantity of avoide...
Blog: Is the Too-Big-To-Fail Problem Resolved?
29 Sep 21
An evaluation of the stability implications of the bail-in design suggests the answer is no (unless ...
Stress Testing the Financial Macrocosm
01 Sep 21
We argue that next-generation stress test models must take a comprehensive a view of the financial m...
No. 2021-21 - Systemic implications of the bail-in design
30 Aug 21
Our analysis suggests that the current bail-in design may be in the region of instability. While pol...
Usable bank capital
30 Jun 20
Recognising the difficulty in judging the demand for credit in the midst of the COVID-19 crisis, thi...
No. 2020-14 - Foundations of system-wide financial stress testing with heterogeneous institutions
15 May 20
We propose a structural framework for the development of system-wide financial stress tests with mul...
No. 2019-10 - Scenario-Free Analysis of Financial Stability with Interacting Contagion Channels
23 Jun 19
Currently financial stress test simulations that take into account multiple interacting contagion me...
Models of Financial Stability and Their Application in Stress Tests
13 Jun 18
We review heterogeneous agent models of financial stability and their application in stress tests.