Craig Burnside
Duke University
56 Papers
696 Citations
Craig Burnside is an academic researcher from Duke University. The author has contributed to research in topics: Currency & Foreign exchange risk. The author has an hindex of 24, co-authored 56 publications. Previous affiliations of Craig Burnside include University of Virginia & Northwestern University.
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Papers
Prospective Deficits and the Asian Currency Crisis
TL;DR: The authors argue that a principal cause of the 1997 Asian currency crisis was large prospective deficits associated with implicit bailout guarantees to failing banking systems, and that the expectation that these future deficits would be at least partially financed by seigniorage revenues or an inflation tax on outstanding nominal debt led to a collapse of the fixed exchange rate regimes in Asia.
Carry trade and momentum in currency markets
TL;DR: In this paper, the authors examine the empirical properties of the payoffs to two popular currency speculation strategies: the carry trade and momentum and review three possible explanations for the apparent profitability of these strategies: speculators are being compensated for bearing risk.
300
Fiscal Sustainability in Theory and Practice : A Handbook
TL;DR: Fiscal sustainability analysis is the use of a simple set of tools to analyze a government's budget and its debt position, and leads to conclusions about the appropriateness of fiscal policy as discussed by the authors.
144
Solving asset pricing models with Gaussian shocks
TL;DR: In this article, the authors provided a closed-form solution for the price-dividend ratio in a standard asset pricing model when the growth rate of the endowment is a first-order Gaussian autoregression.
129
Understanding the Forward Premium Puzzle: A Microstructure Approach
TL;DR: In this paper, the adverse selection problem facing market makers is worse when an agent wants to trade against a public information signal, and there is more adverse selection associated with a sell order than with a buy order.