Professor Craig Burnside

  • Research Professor of Economics (Economics)

email: Craig.Burnside@glasgow.ac.uk

College of Social Sciences, Adam Smith Business School, Gilbert Scott Building

Import to contacts

ORCID iDhttps://orcid.org/0000-0001-9843-6053

Biography

  • BA (Hons), University of British Columbia, 1985
  • PhD, Northwestern University, 1991
  • Professor, Duke University, 2004-
  • Professor, University of Virginia, 2002-04
  • Economist, Senior Economist & Lead Economist, World Bank, 1995-2002
  • Assistant Professor, University of Pittsburgh, 1992-95
  • Assistant Professor, Queen's University, 1990-92.
  • Research Associate, National Bureau of Economic Research

Research interests

Craig is a member of the Finance research cluster.

Areas of Expertise:

  • Macroeconomics
  • International finance
  • Finance
  • Econometrics

Publications

List by: Type | Date

Jump to: 2024 | 2020 | 2016 | 2013 | 2012 | 2011 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2002 | 2001 | 2000 | 1998 | 1996 | 1994 | 1993
Number of items: 35.

2024

Burnside, C. , Cerrato, M. and Zhang, Z. (2024) Foreign exchange order flow as a risk factor. Journal of Financial and Quantitative Analysis, (Accepted for Publication)

2020

Burnside, A. C. and Graveline, J. J. (2020) On the asset market view of exchange rates. Review of Financial Studies, 33(1), pp. 239-260. (doi: 10.1093/rfs/hhz049)

2016

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2016) Understanding booms and busts in housing markets. Journal of Political Economy, 124(4), pp. 1088-1147. (doi: 10.1086/686732)

Burnside, C. (2016) Identification and inference in linear stochastic discount factor models with excess returns. Journal of Financial Econometrics, 14(2), pp. 295-330. (doi: 10.1093/jjfinec/nbv018)

2013

Burnside, C. (2013) New Zealand's risk premium. New Zealand Economic Papers, 47(1), pp. 27-52. (doi: 10.1080/00779954.2012.721690)

2012

Burnside, A. C. and Graveline, J. (2012) On the Asset Market View of Exchange Rates. NBER Working Paper Series, 18646. (doi: 10.3386/w18646)

Burnside, C. (2012) Carry trades and risk. In: Sarno, L., James, J. and Marsh, I.W. (eds.) Handbook of Exchange Rates. Series: Wiley handbooks in financial engineering and econometrics. Wiley. ISBN 9780470768839

2011

Burnside, C. (2011) The cross section of foreign currency risk premia and consumption growth risk: comment. American Economic Review, 101(7), pp. 3456-3476. (doi: 10.1257/aer.101.7.3456)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2011) Carry trade and momentum in currency markets. Annual Review of Financial Economics, 3(1), pp. 511-535. (doi: 10.1146/annurev-financial-102710-144913)

Burnside, C. , Han, B., Hirshleifer, D. and Wang, T.Y. (2011) Investor overconfidence and the forward premium puzzle. Review of Economic Studies, 78(2), pp. 523-558. (doi: 10.1093/restud/rdq013)

Burnside, C. , Eichenbaum, M., Kleshchelski, I. and Rebelo, S. (2011) Do peso problems explain the returns to the carry trade? Review of Financial Studies, 24(3), pp. 853-891. (doi: 10.1093/rfs/hhq138)

2009

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2009) Understanding the forward premium puzzle: a microstructure approach. American Economic Journal: Macroeconomics, 1(2), pp. 127-154. (doi: 10.1257/mac.1.2.127)

Burnside, C. (2009) Comment on "Carry trades and currency crashes". In: Acemoglu, D., Rogoff, K. and Woodford, M. (eds.) NBER Macroeconomics Annual 2008. University of Chicago Press, pp. 349-359.

2008

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2008) Carry trade: the gains of diversification. Journal of the European Economic Association, 6(2-3), pp. 581-588. (doi: 10.1162/JEEA.2008.6.2-3.581)

2007

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2007) The returns to currency speculation in emerging markets. American Economic Review, 97(2), pp. 333-338. (doi: 10.1257/aer.97.2.333)

2006

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2006) Government finance in the wake of currency crises. Journal of Monetary Economics, 53(3), pp. 401-440. (doi: 10.1016/j.jmoneco.2005.03.012)

2005

Burnside, C. and Fanizza, D. (2005) Hiccups for HIPCs? Implications of debt relief for fiscal sustainability and monetary policy. Contributions to Macroeconomics, 5(1), pp. 1-37. (doi: 10.2202/1534-6005.1133)

2004

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2004) Government guarantees and self-fulfilling speculative attacks. Journal of Economic Theory, 119(1), pp. 31-63. (doi: 10.1016/j.jet.2003.06.002)

Burnside, C. and Dollar, D. (2004) Aid, policies, and growth: reply. American Economic Review, 94(3), pp. 781-784. (doi: 10.1257/0002828041464524)

Burnside, C. , Eichenbaum, M. and Fisher, J. (2004) Fiscal shocks and their consequences. Journal of Economic Theory, 115(1), pp. 89-117. (doi: 10.1016/S0022-0531(03)00252-7)

Burnside, C. (2004) Currency crises and contingent liabilities. Journal of International Economics, 62(1), pp. 25-52. (doi: 10.1016/j.jinteco.2003.07.003)

2002

Burnside, C. (2002) On contingent liabilities and the likelihood of fiscal crises. Comparative Economic Studies, 44(1), pp. 1-14. (doi: 10.1057/ces.2002.2)

2001

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2001) Prospective deficits and the Asian currency crisis. Journal of Political Economy, 109(6), pp. 1155-1197. (doi: 10.1086/323271)

Burnside, C. (2001) Hedging and financial fragility in fixed exchange rate regimes. European Economic Review, 45(7), pp. 1151-1193. (doi: 10.1016/S0014-2921(01)00090-3)

2000

Burnside, C. and Dollar, D. (2000) Aid, policies, and growth. American Economic Review, 90(4), pp. 847-868. (doi: 10.1257/aer.90.4.847)

1998

Burnside, C. (1998) Detrending and business cycle facts: a comment. Journal of Monetary Economics, 41(3), pp. 513-532. (doi: 10.1016/S0304-3932(98)00007-5)

Burnside, C. (1998) Solving asset pricing models with Gaussian shocks. Journal of Economic Dynamics and Control, 22(3), pp. 329-340. (doi: 10.1016/S0165-1889(97)00075-4)

1996

Burnside, C. (1996) Sectoral Solow residuals. European Economic Review, 40(3-5), pp. 861-869. (doi: 10.1016/0014-2921(95)00095-X)

Burnside, C. (1996) Industry innovation: where and why - a comment. Carnegie-Rochester Conference Series on Public Policy, 44, pp. 151-167. (doi: 10.1016/S0167-2231(96)90009-3)

Burnside, C. (1996) Production function regressions, returns to scale, and externalities. Journal of Monetary Economics, 37(2), pp. 177-201. (doi: 10.1016/S0304-3932(96)90033-1)

Burnside, C. and Eichenbaum, M. (1996) Factor-hoarding and the propagation of business-cycle shocks. American Economic Review, 86(5), pp. 1154-1174.

Burnside, C. and Eichenbaum, M. (1996) Small-sample properties of GMM-based Wald tests. Journal of Business and Economic Statistics, 14(3), pp. 294-308. (doi: 10.2307/1392444)

1994

Burnside, C. (1994) Hansen-Jagannathan bounds as classical tests of asset-pricing models. Journal of Business and Economic Statistics, 12(1), pp. 57-79. (doi: 10.2307/1391924)

1993

Burnside, C. (1993) Consistency of a method of moments estimator based on numerical solutions to asset pricing models. Econometric Theory, 9(4), pp. 602-632. (doi: 10.1017/S0266466600008008)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (1993) Labor hoarding and the business cycle. Journal of Political Economy, 101(2), pp. 245-273.

This list was generated on Mon Jan 20 14:17:22 2025 GMT.
Jump to: Articles | Book Sections
Number of items: 35.

Articles

Burnside, C. , Cerrato, M. and Zhang, Z. (2024) Foreign exchange order flow as a risk factor. Journal of Financial and Quantitative Analysis, (Accepted for Publication)

Burnside, A. C. and Graveline, J. J. (2020) On the asset market view of exchange rates. Review of Financial Studies, 33(1), pp. 239-260. (doi: 10.1093/rfs/hhz049)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2016) Understanding booms and busts in housing markets. Journal of Political Economy, 124(4), pp. 1088-1147. (doi: 10.1086/686732)

Burnside, C. (2016) Identification and inference in linear stochastic discount factor models with excess returns. Journal of Financial Econometrics, 14(2), pp. 295-330. (doi: 10.1093/jjfinec/nbv018)

Burnside, C. (2013) New Zealand's risk premium. New Zealand Economic Papers, 47(1), pp. 27-52. (doi: 10.1080/00779954.2012.721690)

Burnside, A. C. and Graveline, J. (2012) On the Asset Market View of Exchange Rates. NBER Working Paper Series, 18646. (doi: 10.3386/w18646)

Burnside, C. (2011) The cross section of foreign currency risk premia and consumption growth risk: comment. American Economic Review, 101(7), pp. 3456-3476. (doi: 10.1257/aer.101.7.3456)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2011) Carry trade and momentum in currency markets. Annual Review of Financial Economics, 3(1), pp. 511-535. (doi: 10.1146/annurev-financial-102710-144913)

Burnside, C. , Han, B., Hirshleifer, D. and Wang, T.Y. (2011) Investor overconfidence and the forward premium puzzle. Review of Economic Studies, 78(2), pp. 523-558. (doi: 10.1093/restud/rdq013)

Burnside, C. , Eichenbaum, M., Kleshchelski, I. and Rebelo, S. (2011) Do peso problems explain the returns to the carry trade? Review of Financial Studies, 24(3), pp. 853-891. (doi: 10.1093/rfs/hhq138)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2009) Understanding the forward premium puzzle: a microstructure approach. American Economic Journal: Macroeconomics, 1(2), pp. 127-154. (doi: 10.1257/mac.1.2.127)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2008) Carry trade: the gains of diversification. Journal of the European Economic Association, 6(2-3), pp. 581-588. (doi: 10.1162/JEEA.2008.6.2-3.581)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2007) The returns to currency speculation in emerging markets. American Economic Review, 97(2), pp. 333-338. (doi: 10.1257/aer.97.2.333)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2006) Government finance in the wake of currency crises. Journal of Monetary Economics, 53(3), pp. 401-440. (doi: 10.1016/j.jmoneco.2005.03.012)

Burnside, C. and Fanizza, D. (2005) Hiccups for HIPCs? Implications of debt relief for fiscal sustainability and monetary policy. Contributions to Macroeconomics, 5(1), pp. 1-37. (doi: 10.2202/1534-6005.1133)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2004) Government guarantees and self-fulfilling speculative attacks. Journal of Economic Theory, 119(1), pp. 31-63. (doi: 10.1016/j.jet.2003.06.002)

Burnside, C. and Dollar, D. (2004) Aid, policies, and growth: reply. American Economic Review, 94(3), pp. 781-784. (doi: 10.1257/0002828041464524)

Burnside, C. , Eichenbaum, M. and Fisher, J. (2004) Fiscal shocks and their consequences. Journal of Economic Theory, 115(1), pp. 89-117. (doi: 10.1016/S0022-0531(03)00252-7)

Burnside, C. (2004) Currency crises and contingent liabilities. Journal of International Economics, 62(1), pp. 25-52. (doi: 10.1016/j.jinteco.2003.07.003)

Burnside, C. (2002) On contingent liabilities and the likelihood of fiscal crises. Comparative Economic Studies, 44(1), pp. 1-14. (doi: 10.1057/ces.2002.2)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (2001) Prospective deficits and the Asian currency crisis. Journal of Political Economy, 109(6), pp. 1155-1197. (doi: 10.1086/323271)

Burnside, C. (2001) Hedging and financial fragility in fixed exchange rate regimes. European Economic Review, 45(7), pp. 1151-1193. (doi: 10.1016/S0014-2921(01)00090-3)

Burnside, C. and Dollar, D. (2000) Aid, policies, and growth. American Economic Review, 90(4), pp. 847-868. (doi: 10.1257/aer.90.4.847)

Burnside, C. (1998) Detrending and business cycle facts: a comment. Journal of Monetary Economics, 41(3), pp. 513-532. (doi: 10.1016/S0304-3932(98)00007-5)

Burnside, C. (1998) Solving asset pricing models with Gaussian shocks. Journal of Economic Dynamics and Control, 22(3), pp. 329-340. (doi: 10.1016/S0165-1889(97)00075-4)

Burnside, C. (1996) Sectoral Solow residuals. European Economic Review, 40(3-5), pp. 861-869. (doi: 10.1016/0014-2921(95)00095-X)

Burnside, C. (1996) Industry innovation: where and why - a comment. Carnegie-Rochester Conference Series on Public Policy, 44, pp. 151-167. (doi: 10.1016/S0167-2231(96)90009-3)

Burnside, C. (1996) Production function regressions, returns to scale, and externalities. Journal of Monetary Economics, 37(2), pp. 177-201. (doi: 10.1016/S0304-3932(96)90033-1)

Burnside, C. and Eichenbaum, M. (1996) Factor-hoarding and the propagation of business-cycle shocks. American Economic Review, 86(5), pp. 1154-1174.

Burnside, C. and Eichenbaum, M. (1996) Small-sample properties of GMM-based Wald tests. Journal of Business and Economic Statistics, 14(3), pp. 294-308. (doi: 10.2307/1392444)

Burnside, C. (1994) Hansen-Jagannathan bounds as classical tests of asset-pricing models. Journal of Business and Economic Statistics, 12(1), pp. 57-79. (doi: 10.2307/1391924)

Burnside, C. (1993) Consistency of a method of moments estimator based on numerical solutions to asset pricing models. Econometric Theory, 9(4), pp. 602-632. (doi: 10.1017/S0266466600008008)

Burnside, C. , Eichenbaum, M. and Rebelo, S. (1993) Labor hoarding and the business cycle. Journal of Political Economy, 101(2), pp. 245-273.

Book Sections

Burnside, C. (2012) Carry trades and risk. In: Sarno, L., James, J. and Marsh, I.W. (eds.) Handbook of Exchange Rates. Series: Wiley handbooks in financial engineering and econometrics. Wiley. ISBN 9780470768839

Burnside, C. (2009) Comment on "Carry trades and currency crashes". In: Acemoglu, D., Rogoff, K. and Woodford, M. (eds.) NBER Macroeconomics Annual 2008. University of Chicago Press, pp. 349-359.

This list was generated on Mon Jan 20 14:17:22 2025 GMT.

Grants

  • National Science Foundation Grant, SES-0516697, 2005–2009.
  • Social Sciences and Humanities Research Council of Canada Research Grant No. 410-92-790, 1992.
  • IBM Research Support Program Grant for Supercomputing Research, 1988–1989.
  • Allen Starling Johnson Jr. Distinguished Undergraduate Research Assistant program, Spring/Fall 2005, Spring 2006, Spring 2006. 
  • Grant, Bankard Fund for Political Economy, University of Virginia, July 2003–June 2004. 
  • Grants, World Bank Research Advisory Group, 2002, 1999–2001, 1997–1998.
  • Advisory Research Committee Grant, Queen's University, 1990–1991.

Teaching

  • 1st Year PhD Macroeconomics, Duke University
  • Undergraduate Intermediate Macroeconomics, Duke University
  • Undergraduate and PhD level International Finance, Duke University

Additional information

  • National Fellow, Hoover Institution, 1998-99
  • Board of Editors, American Economic Review (2001-06, 2011-)
  • Co-editor, Canadian Journal of Economics (2007-10)
  • Associate Editor, Review of Economics and Statistics (2012-)
  • Associate Editor, Journal of Money, Credit and Banking (2003-11)

Professor Craig Burnside, Research Professor of Economics