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Indiana University Bloomington

Department of Finance

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A 2012 Businessweek recruiter poll placed Kelley's Department of Finance in the top 10 programs for the quality of finance instruction.

Kristoph Kleiner

Contact Information

(812) 856-7182
kleinerk [at] indiana [dot] edu (E-mail)
Business School

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Faculty Web Page

  • Assistant Professor of Finance


  • Bloomington


  • PhD, Duke University

Professional Interests

Household Finance, Entrepreneurship, Real Estate Finance, Applied Macroeconomics

Current Projects

  • The Impact of Banking Relationships and Credit Supply on Households: Evidence from Refinancing and Foreclosures
  • How Collateral Drives the Economy: An Investigation of Small Firm Real Estate Shocks on Employment
  • Why Case-Shiller got it Wrong: The Effect of Market Conditions on House Prices
  • A Direct Measure of the Home Equity Channel on Entrepreneurship


Kristoph Kleiner is an Assistant Professor of Finance at Indiana University's Kelley School of Business. He joined Kelley in 2014 after completing his Ph.D. at Duke University, and teaches courses in corporate finance. Kristoph’s research agenda is focused on two distinct themes:

1) The Macroeconomic Implications of Financial Frictions on Small Business and Households

The real estate and credit markets have been at the center of the debate on the causes and consequences of the Great Recession, yet the mechanism that links these factors remains unclear. My first line of research attempts to understand the real economic impacts of financial shocks to households and small firms.

2) The Application of Asset Pricing Techniques to the Housing Market

Despite recent interest in real estate finance, the econometric techniques in this literature lag behind more traditional asset pricing topics. In my second line of research I advance these empirical methodologies to better analyze housing as both a consumption good and an asset.