Ravi Bansal

Ravi Bansal

Professor of Economics

External Address: 
216F Fuqua Sch of Bus, Durham, NC 27708
Internal Office Address: 
Box 90120, Durham, NC 27708-0120
(919) 660-7758

Prof. Ravi Bansal is J.B. Fuqua Professor of Finance and Economics at Duke University and Research Associate at the NBER. He is a leader in the fields finance and macroeconomics and has published extensively in leading journals such as the Journal of Finance, American Economic Review and the Journal of Political Economy. His research provides new insights about the connections between economic growth and uncertainty to bond, equity, and currency markets. His pioneering work on identifying risks in capital markets, specifically long-run risks, is cited and discussed in the scientific background article for the 2013 Nobel Prize in Economics. Many of his PhD students have placed at leading academic institutions, central banks, and investment banks. In addition to Duke University, he has taught at Wharton School of Business, Stanford University, and the Indian School of Business. He earned his PhD from Carnegie Mellon University and prior to his doctorate, he studied at the Delhi School of Economics, Delhi University, and St. Xavier’s School (Delhi).


  • Ph.D., Carnegie Mellon University 1990
  • M.A., University of Delhi (India) 1985
  • B.A., University of Delhi (India) 1982

Bansal, R., and B. N. Lehmann. “Growth-optimal portfolio restrictions on asset pricing models.” Macroeconomic Dynamics 1, no. 2 (January 1, 1997): 333–54. https://doi.org/10.1017/s1365100597003039. Full Text

Bansal, R. “An exploration of the forward premium puzzle in currency markets.” Review of Financial Studies 10, no. 2 (January 1, 1997): 369–403. https://doi.org/10.1093/rfs/10.2.369. Full Text

Bansal, R., and W. J. Coleman. “A monetary explanation of the equity premium, term premium, and risk-free rate puzzles.” Journal of Political Economy 104, no. 6 (January 1, 1996): 1135–71. https://doi.org/10.1086/262056. Full Text

Bansal, R., A. R. Gallant, R. Hussey, and G. Tauchen. “Nonparametric estimation of structural models for high-frequency currency market data.” Journal of Econometrics 66, no. 1–2 (January 1, 1995): 251–87. https://doi.org/10.1016/0304-4076(94)01618-A. Full Text Open Access Copy

BANSAL, R., and S. VISWANATHAN. “No Arbitrage and Arbitrage Pricing: A New Approach.” The Journal of Finance 48, no. 4 (January 1, 1993): 1231–62. https://doi.org/10.1111/j.1540-6261.1993.tb04753.x. Full Text

BANSAL, R., D. A. HSIEH, and S. VISWANATHAN. “A New Approach to International Arbitrage Pricing.” The Journal of Finance 48, no. 5 (January 1, 1993): 1719–47. https://doi.org/10.1111/j.1540-6261.1993.tb05126.x. Full Text