A. Craig Burnside

A. Craig Burnside

Mary Grace Wilson Professor

External Address: 
213G 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 1985

Burnside, AC, and Graveline, JJ. "On the Asset Market View of Exchange Rates." Review of Financial Studies (January 31, 2019). Open Access Copy

Burnside, C, Eichenbaum, M, and Rebelo, S. "Understanding booms and busts in housing markets." Journal of Political Economy 124, no. 4 (August 1, 2016): 1088-1147. Full Text Open Access Copy

Burnside, C. "Identification and inference in linear stochastic discount factor models with excess returns." Journal of Financial Econometrics 14, no. 2 (March 1, 2016): 295-330. Full Text Open Access Copy

Burnside, C. "The cross section of foreign currency risk premia and consumption growth risk: Comment." American Economic Review 101, no. 7 (December 1, 2011): 3456-3476. Full Text Open Access Copy

Burnside, C, Eichenbaum, M, and Rebelo, S. "Carry trade and momentum in currency markets." Annual Review of Financial Economics 3 (November 16, 2011): 511-535. Full Text

Burnside, C, Han, B, Hirshleifer, D, and Wang, TY. "Investor overconfidence and the forward premium puzzle." Review of Economic Studies 78, no. 2 (April 7, 2011): 523-558. Full Text

Burnside, C, Eichenbaum, M, Kleshchelski, I, and Rebelo, S. "Do peso problems explain the returns to the carry trade?." Review of Financial Studies 24, no. 3 (March 1, 2011): 853-891. Full Text Open Access Copy

Burnside, AC. "The Forward Premium is Still a Puzzle." (May 2007).

Burnside, AC, Eichenbaum, M, Kleshchelski, I, and Rebelo, ST. "The Returns to Currency Speculation." CEPR Discussion Paper, no. 5883 (October 2006).


Burnside, C. Comment. December 1, 2008.

Burnside, AC, Eichenbaum, M, and Rebelo, S. "On the Fiscal Implications of Twin Crises." In Managing Currency Crises in Emerging Markets,edited by MP Dooley and JA Frankel. University of Chicago Press, 2003. (Chapter)

Tabova, A, and Burnside, AC. "Risk, Volatility, and the Global Cross-Section of Growth Rates." Duke Department of Economics Research Paper, no. 43 (April 23, 2010). (Working Paper)