Burton Hollifield

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PNC Professor of Finance; Professor of Financial Economics

Education:
  • University of Calgary - B. Comm. - 1984
  • Queen's University at Kingston - M.A. - 1987
  • Carnegie Mellon - Ph.D. - 1992
Areas of Expertise:
  • Finance
Teaching and Research Interests:
  • Asymmetric information in financial markets, insider trading, limit order markets, portfolio theory, asset pricing.
Website and/or personal homepage:
http://www.andrew.cmu.edu/user/burtonh

Published Papers: 
  • Dealer Intermediation and Price Behavior in the Aftermarket for New Bond Issues
    Journal of Financial Economics 86, 2007; 643-682.
    (with: Richard Green, Norman Schurhoff)

  • Financial Intermediation in Opaque Markets
    Review of Financial Studies 20, 2007; 275-314.
    (with: Richard Green, Norman Schurhoff)

  • Arbitrage-Free Bond Pricing with Dynamic Macroeconomic Models
    Federal Reserve Bank of St. Louis Review, 2007.
    (with: Stanley Zin, Michael Gallmeyer, Francisco Palomino)

  • Estimating the Gains from Trade in Limit-order Markets
    Journal of Finance 61(6), December 2006; 2753-2804.
    (with: Robert Miller, Patrik Sandas, Joshua Slive)

  • Financial Intermediation and the Costs of Trading in an Opaque Market
    Review of Financial Studies, Forthcoming.
    (with: Rick Green, Norman Schurhoff)

  • Taylor Rules, McCallum Rules and the Term Structure of Interest Rates
    Journal of Monetary Economics, Summer 2005.
    (with: Michael Gallmeyer, Stanley Zin)

  • Managerial Discretion and Defensive Measures
    Journal of Finance.
    (with: Ron Giammarino, Robert Heinkel)

  • An Examination of Uncovered Interest Parity in Segmented Commodity Markets
    Journal of Finance.
    (with: R. Uppal)

  • When Will Mean-Variance Efficient Portfolios be Well-Diversified?
    Journal of Finance 47(5), 1992; 1785-1810.
    (with: Richard Green)

Working Papers: 
Awards:
  • George Leland Bach Award for Excellence in the Classroom, MBA Program - 2009
  • Undergraduate Business Administration Program, Teaching Award - 2007
  • Barclays Global Investors Award, Best Paper, European Finance Association Meetings - 2003
  • NYSE Award for best paper on Equity Trading, Western Finance Association Meetings - 2005
  • University of British Columbia, MBA/MSC Teaching Excellence Award - 1998
  • VSE Chair in Finance, University of British Columbia, - 1997-1998
  • CBOT Award for best paper on futures and options on futures, Western Finance Association Meetings - 1995
Editorial Boards:
  • Review of Economic Studies (Foreign Editor), 2007-
  • Journal of Financial Intermediation (Associate Editor), 2005-
  • Journal of Economic Dynamics and Control (Associate Editor,), 2003-
  • Journal of Finance (Associate Editor), 2000-2003, 2008-2009
  • Management Science (Associate Editor), 1998-2001
Courses Taught:
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