Edwin Burmeister, Research Professor Emeritus

Edwin Burmeister is Research Professor of Economics Emeritus at Duke University. He began his professorship at Duke in 1991 after serving at the University of Virginia as the Commonwealth Professor of Economics. He has held many other teaching positions throughout his career, including professor of economics at the University of Pennsylvania from 1972-76. He was also professor of economics at the University of Chicago in 1980 and at the Australian National University from 1974-75. He earned his Ph.D. in advanced economics in 1965 from the Massachusetts Institute of Technology, and his M.A. and B.A. from Cornell University. Professor Burmeister’s research interests include economic growth, capital theory, and finance. He has received numerous research grants from the National Science Foundation, and has also received funding from the Institute for Quantitative Research in Finance. He recently conducted a study on “the role of expectations in determining interest rates and stock market prices.” He has written many articles on his research findings that have been published in numerous academic journals. Some of his works include, “The Residual Market Factor, the APT, and Mean-Variance Efficiency” in the Review of Quantitative Finance and Accounting, “The Capital Theory Controversy” in Assessment of Piero Sraffa’s Contributions to Economics, and “Real Wicksell Effects and Regular Economics” in Capital Theory. He has also contributed writings to the Encyclopedia of Macroeconomics, and written numerous reviews for books within the fields of mathematics and economics. For his achievements as a teacher and researcher, Professor Burmeister has received numerous honors. He was named a Fellow of the Econometric Society, and was awarded the Honorary Woodrow Wilson Fellowship and the John Simon Guggenheim Memorial Fellowship. He received the NSF Summer Research Fellowship for Graduate Teaching Assistants in 1962, and earned the NSF Graduate Fellowship for three consecutive years. Outside of his career in academia and researching, Professor Burmeister has held various professional positions and participated as a member for numerous associations. He served as editor for The International Economic Review from 1971-76, and was associate editor for both The International Economic Review from 1976-97 and the The Financial Review from 1988-94. He has been associate editor for the Review of Quantitative Finance and Accounting since 1992. He was on the International Editorial Board for the Irving Fisher and Frank W. Taussig Awards from 1975-89, the American Economic Association Committee on Publications from 1976-84, and has been a member of the Executive Committee for the Conference on Financial Economics and Accounting since 1989. He is also an invited academic member of the Chicago Quantitative Alliance.

Contact Info:

Office Location:	201B Social Sciences, Durham, NC 27708
Email Address:

Office Hours:

By appointment

Education:

Ph.D.	Massachusetts Institute of Technology	1965
M.A.	Cornell University	1962
B.S.	Cornell University	1961
B.A.	Cornell University, New York	1961

Specialties:

Financial Economics
Macroeconomics
Microeconomic Theory

Research Interests: Financial Economics, Capital Theory, and Economic Growth

Edwin Burmeister is the Research Professor of Economics Emeritua at Duke University. He specializes in the subjects of capital theory, economic growth, financial economics, and macroeconomics. Throughout his career, he has received numerous grants for his research from the National Science Foundation. These NSF grants have funded such projects as, “Asset Pricing and Macroeconomic Activity,” “Kalman Filtering Estimation of Unobserved Rational Expectations,” “Capital, Time, and Macroeconomics,” and “Demand, Adjustment Prices, and Economic Growth.” He has published a number of books on his subjects of interest, including such titles as, Mathematical Theory of Economic Growth, Econometric Model Performance: Comparative Simulation Studies of the U.S. Economy, and Capital Theory and Dynamics. His research findings and ideas have been printed in a number of leading academic journals, and range from his work on, “The Nature and Implications of Reswitching of Techniques” to his later writing on, “Conditional Value at Risk for Equities.” His recent studies focus on the exploration of interest rates and stock market prices and the role expectations play in determining these factors.

Areas of Interest:

Financial Economics
Capital Theory
Economic Growth

Curriculum Vitae

Current Ph.D. Students   (Former Students)

Representative Publications   (More Publications)

1. Edwin Burmeister and Marjorie B. McElroy, The Burmeister-McElroy Sliced Normal Theorem: Conditional Forecasting with Probabilistic Scenarios (2009) [pdf]  [abs]
2. Burmeister, E, Reflections, History of Political Economy, vol. 41 no. Suppl_1 (December, 2009), pp. 35-43, Duke University Press (Editors’ note: Transcript of Edwin Burmeister’s after-dinner talk at the HOPE conference, “Robert Solow and the Development of Growth Economics,” delivered on 25 April 2008, with Robert Solow as the guest of honor.].) [doi]
3. BURMEISTER, E; MCELROY, MB, JOINT ESTIMATION OF FACTOR SENSITIVITIES AND RISK PREMIA FOR THE ARBITRAGE PRICING THEORY, JOURNAL OF FINANCE, vol. 43 no. 3 (1988), pp. 721-735 [doi]
4. Edwin Burmeister and A. Rodney Dobell, Mathematical Theories of Economic Growth (1970), pp. 444 + i-xx, New York: Macmillan
5. Edwin Burmeister, Michael Bruno, and Eytan Sheshinski, The Nature and Implications of the Reswitching of Techniques, The Quarterly Journal of Economics (November, 1966) (reprinted in Readings in Mathematical Economics, Peter Newman, Ed., Vol. 11, Baltimore: Johns Hopkins Press, 1968..)

Conferences Organized

• Conference on Financial Economics and Accounting, Member, Executive Committee, 1993 - current