Now showing items 1-19 of 19

    • Aid, policies, and growth 

      Burnside, C; Dollar, D (American Economic Review, 2000-09-01)
      This paper uses a new database on foreign aid to examine the relationships among foreign aid, economic policies, and growth of per capita GDP. We find that aid has a positive impact on growth in developing countries with ...
    • Aid, policies, and growth: Reply 

      Burnside, C; Dollar, D (American Economic Review, 2004-06-01)
    • Carry trade: The gains of diversification 

      Burnside, C; Eichenbaum, M; Rebelo, S (Journal of the European Economic Association, 2008-04-01)
      Market participants routinely take advantage of the failure of uncovered interest rate parity to speculate in currency markets. Perhaps the most widely used currency speculation strategy is the carry trade. In this article ...
    • Consistency of a method of moments estimator based on numerical solutions to asset pricing models 

      Burnside, C (Econometric Theory, 1993-01-01)
      This paper considers the properties of estimators based on numerical solutions to a class of economic models. In particular, the numerical methods discussed are those applied in the solution of linear integral equations, ...
    • Currency crises and contingent liabilities 

      Burnside, C (Journal of International Economics, 2004-01-01)
      A contingent liability is a future spending commitment that is realized with some probability. International organizations emphasize the dangers of contingent liabilities when providing advice. Why? One answer is obvious-if ...
    • Detrending and business cycle facts: A comment 

      Burnside, C (Journal of Monetary Economics, 1998-05-20)
      There is nothing misleading in the fact that different filtering techniques lead to different facts about macroeconomic time series. The fact that economists use a large number of filters to extract the 'cyclical' and 'trend' ...
    • Do peso problems explain the returns to the carry trade? 

      Burnside, C; Eichenbaum, M; Kleshchelski, I; Rebelo, S (Review of Financial Studies, 2011-03-01)
      We study the properties of the carry trade, a currency speculation strategy in which an investor borrows low-interest-rate currencies and lends high-interest-rate currencies. This strategy generates payoffs that are on average ...
    • Factor-Hoarding and the Propagation of Business-Cycle Shocks 

      Burnside, C; Eichenbaum, M (American Economic Review, 1996-12-01)
      This paper analyzes the role of variable capital-utilization rates in propagating shocks over the business cycle. The model on which our analysis is based treats variable capital-utilization rates as a form of factor-hoarding. ...
    • Fiscal shocks and their consequences 

      Burnside, C; Eichenbaum, M; Fisher, JDM (Journal of Economic Theory, 2004-03-01)
      This paper investigates the response of hours worked and real wages to fiscal policy shocks in the post-World-War II US. We identify these shocks with exogenous changes in military purchases and argue that they lead to a ...
    • Government finance in the wake of currency crises 

      Burnside, C; Eichenbaum, M; Rebelo, S (Journal of Monetary Economics, 2006-04-01)
      We address three questions: (i) Can classical models be reconciled with the fact that many crises are marked by high rates of depreciation and small increases in seignorage revenue? (ii) What are the implications of different ...
    • Hansen-jagarsnathan bounds as classical tests of asset-pricing models 

      Burnside, C (Journal of Business and Economic Statistics, 1994-01-01)
      In this article, tests of the implications of consumption-based asset-pricing models are developed. Four of these tests are based on variance bounds for intertemporal marginal rates of substitution introduced by Hansen and ...
    • Hedging and financial fragility in fixed exchange rate regimes 

      Burnside, C; Eichenbaum, M; Rebelo, S (European Economic Review, 2001-06-23)
      Currency crises that coincide with banking crises tend to share at least three elements. First, banks have a currency mismatch between their assets and liabilities. Second, banks do not completely hedge the associated exchange ...
    • Identification and inference in linear stochastic discount factor models with excess returns 

      Burnside, C (Journal of Financial Econometrics, 2016-03-01)
      © The Author, 2015. Published by Oxford University Press. All rights reserved.When excess returns are used to estimate linear stochastic discount factor (SDF) models, researchers often adopt a normalization of the SDF that ...
    • Labor hoarding and the business cycle 

      Burnside, C; Eichenbaum, M; Rebelo, S (Journal of Political Economy, 1993-12-01)
      This paper investigates the sensitivity of Solow residual based measures of technology shocks to labor hoarding behavior. Using a structural model of labor hoarding and the identifying restriction that innovations to technology ...
    • Prospective Deficits and the Asian Currency Crisis 

      Burnside, C; Eichenbaum, M; Rebeloz, S (Journal of Political Economy, 2001-12)
    • Small-sample properties of GMM-based wald tests 

      Burnside, C; Eichenbaum, M (Journal of Business and Economic Statistics, 1996-01-01)
      This article assesses the small-sample properties of generalized-method-of-moments-based Wald statistics by using (a) a vector white-noise process and (b) an equilibrium business-cycle model as the data-generating mechanisms. ...
    • The cross section of foreign currency risk premia and consumption growth risk: Comment 

      Burnside, C (American Economic Review, 2011-12-01)
      Lustig and Verdelhan (2007) argue that the excess returns to borrowing US dollars and lending in foreign currency "compensate US investors for taking on more US consumption growth risk," yet the stochastic discount factor ...
    • Understanding booms and busts in housing markets 

      Burnside, C; Eichenbaum, M; Rebelo, S (Journal of Political Economy, 2016-08-01)
      © 2016 by The University of Chicago. All rights reserved.Some booms in housing prices are followed by busts. Others are not. It is generally difficult to find observable fundamentals that are useful for predicting whether ...
    • Understanding the Forward Premium Puzzle: A Microstructure Approach 

      Burnside, C; Eichenbaum, M; Rebelo, S (American Economic Journal: Macroeconomics, 2009-07)