A. Craig Burnside

A. Craig Burnside

Mary Grace Wilson Distinguished Professor

External Address: 
221 Social Sciences, Box 90097, Durham, NC 27708
Internal Office Address: 
Box 90097, Durham, NC 27708-0097
(919) 660-1808

Burnside’s fields of specialization include macroeconomics and international finance. His recent research focuses on foreign exchange markets, empirical methods in finance, and the behavior of prices in housing markets.

He has published articles in a number of academic journals, including the American Economic Review, the Journal of Political Economy, the Review of Economic Studies, and the Review of Financial Studies.

He is a Research Associate of the National Bureau of Economic Research, a member of the Board of Editors of the American Economic Review, and was previously co-editor of the Canadian Journal of Economics (2007-10), Associate Editor for the Review of Economics and Statistics (2012-15), and Associate Editor for the Journal of Money Credit and Banking (2003-11).


  • Ph.D., Northwestern University 1991
  • M.A., Northwestern University 1990
  • B.A., University of British Columbia (Canada) 1985

Burnside, A Craig, and Jeremy J. Graveline. “On the Asset Market View of Exchange Rates.” Review of Financial Studies, January 31, 2019. Open Access Copy

Burnside, C., M. Eichenbaum, and S. Rebelo. “Understanding booms and busts in housing markets.” Journal of Political Economy 124, no. 4 (August 1, 2016): 1088–1147. https://doi.org/10.1086/686732. Full Text Open Access Copy

Burnside, C., M. Eichenbaum, and S. Rebelo. “Carry trade and momentum in currency markets.” Annual Review of Financial Economics 3 (November 16, 2011): 511–35. https://doi.org/10.1146/annurev-financial-102710-144913. Full Text

Burnside, C., B. Han, D. Hirshleifer, and T. Y. Wang. “Investor overconfidence and the forward premium puzzle.” Review of Economic Studies 78, no. 2 (April 7, 2011): 523–58. https://doi.org/10.1093/restud/rdq013. Full Text

Burnside, C., M. Eichenbaum, I. Kleshchelski, and S. Rebelo. “Do peso problems explain the returns to the carry trade?Review of Financial Studies 24, no. 3 (March 1, 2011): 853–91. https://doi.org/10.1093/rfs/hhq138. Full Text Open Access Copy

Burnside, A Craig. “The Forward Premium is Still a Puzzle,” May 2007.

Burnside, A Craig, Martin Eichenbaum, Isaac Kleshchelski, and Sergio T. Rebelo. “The Returns to Currency Speculation.” Cepr Discussion Paper, no. 5883 (October 2006).


Burnside, C. Comment. Vol. 23, 2008. https://doi.org/10.1086/593089. Full Text

Burnside, A. C., M. Eichenbaum, and S. Rebelo. “On the Fiscal Implications of Twin Crises.” In Managing Currency Crises in Emerging Markets, edited by M. P. Dooley and J. A. Frankel. University of Chicago Press, 2003.

Burnside, A Craig, and Jeremy J. Graveline. “Exchange Rate Determination, Risk Sharing and the Asset Market View,” December 15, 2012. Open Access Copy

Tabova, A., and A. C. Burnside. “Risk, Volatility, and the Global Cross-Section of Growth Rates.” Duke Department of Economics Research Paper, April 23, 2010.