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Johan Walden - Haas School of Business, University of California, Berkeley. Berkeley, CA, US

Johan Walden Johan Walden

Professor of Finance | Barbara and Gerson Bakar Faculty Fellow | Distinguished Teaching Fellow | Haas School of Business, University of California, Berkeley

Berkeley, CA, UNITED STATES

Social

Areas of Expertise (4)

Asset Pricing

Heavy-tailed Risks

Networks and Capital Markets

Insurance

About

Johan Walden is a financial economist and expert on risk analysis and financial and insurance markets, with a particular focus on portfolio risk diversification and risk regulation. He is a tenured Professor of Finance at Berkeley Haas, where he also serves as Barbara and Gerson Bakar Faculty Fellow and Distinguished Teaching Fellow. He regularly teaches MBA, MFE, and executive education courses covering topics in finance, asset pricing, and financial engineering. He has also served as a visiting scholar at other top universities, including NYU’s Stern School of Business, UCLA’s Institute for Pure and Applied Mathematics, Oxford University, and INSEAD.

Walden has published over 30 academic articles in peer-reviewed journals on topics of risk, diversification, asset pricing, and applied mathematics. His research has been published in the top academic journals in his fields, including the Journal of Finance, Review of Economic Studies, Journal of Risk and Insurance, Journal of Financial Economics, and the Journal of Banking and Finance. His research on heavy-tailed risks and portfolio diversification in economics, finance, and insurance was published as part of the Springer book series Lecture Notes in Statistics.

Over the course of his academic career, Walden has received over 20 honors, awards, grants, and fellowships. He has presented his research at some of the world’s preeminent universities and finance conferences, including the American Finance Association and European Finance Association, among others. He also serves as a referee for many of the top academic journals in economics, finance, and insurance, including Econometrica, American Economic Review, and the Journal of Risk and Insurance.

His consulting experience includes complex corporate litigation, where he has authored expert reports and provided expert witness testimony on issues related to investment theory, risk, diversification, risk reporting and insurance. Before entering academia, he worked as a management consultant at McKinsey & Company’s Stockholm office, where he focused on corporate strategy, particularly within the telecommunications and financial institutions industries. Walden’s consulting experience also includes assisting government entities in assessing new programs and regulations. In 2009, he assisted The Congressional Oversight Panel in evaluating the Federal Reserve Board’s Supervisory Capital Assessment Program.

Education (7)

Yale University: PhD, Financial Economics

Yale University: MA, Financial Economics

Uppsala University: Docent, Applied Mathematics

Uppsala University: PhD, Applied Mathematics

Uppsala University: MS, Business Studies and Economics

Uppsala University: MS, Engineering Physics

Uppsala University: BA, History

Honors & Awards (2)

Schwabacher Fellowship

2010 - 2011

Earl Cheit Outstanding Teaching Award

2007, 2009, 2011, 2016

Positions Held (1)

At Haas since 2005

2019 – present, Professor, Haas School of Business
2012 – 2019, Associate Professor, Haas School of Business
2005 – 2012, Assistant Professor, Haas School of Business
1999 – 2002, Management Consultant, McKinsey & Company, Stockholm, Sweden
1997 – 1999 Postdoctoral research associate, Yale University, Department of Mathematics

Selected Papers & Publications (13)

Trading, Profits, and Volatility in a Dynamic Information Network Model Review of Economic Studies

Johan Walden

2018

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Mortgage Loan Flow Networks and Financial Norms Review of Financial Studies

Richard Stanton, Johan Walden, Nancy Wallace

2018

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Equilibrium with Monoline and Multiline Structures Review of Finance

Johan Walden, Rustam Ibragimov, Dwight Jaffee

2018

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Recovery with Unbounded Diffusion Processes Review of Finance

Johan Walden

2017

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Comment on: “The intended and unintended consequences of financial-market regulations: A general equilibrium analysis” by Adrian Buss, Bernard Dumas, Raman Uppal, and Grigory Vilkov Journal of Monetary Economics

Johan Walden

2016

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Markup cycles, dynamic misallocation and amplification Journal of Economic Theory

Johan Walden, Marcus Opp, Christine Parlour

2014

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Investor Networks in the Stock Market Review of Financial Studies

Johan Walden, Han Ozsoylev, Deniz Yavuz, Recep Bildik

2014

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Limited Capital Market Participation and Human Capital Risk Review of Asset Pricing Studies

Johan Walden, Jonathan Berk

2013

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Financial Flexibility, Bank Capital Flows, and Asset Prices Journal of Finance

Johan Walden, Christine Parlour, Richard Stanton

2012

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Hedging Labor Income Risk Journal of Financial Economics

Johan Walden, Sebastien Betermeier, Christine Parlour, Thomas Jansson

2012

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Asset Pricing in Large Information Networks Journal of Economic Theory

Johan Walden, Han Ozsoylev

2011

Revisiting Asset Pricing Puzzles in an Exchange Economy Review of Financial Studies

Christine Parlour, Richard Stanton, Johan Walden

2011

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Diversification Disasters Journal of Financial Economics

Rustam Ibragimov, Dwight Jaffee, Johan Walden

2011

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Teaching (2)

Stochastic Calculus

MFE230Q

Introduction to Finance

EWMBA 203