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Stephanie E. Curcuru

Education

  • Ph.D., Finance, Booth School of Business, University of Chicago
  • M.S., Mathematics, New York University
  • B.S., Aerospace Engineering, Princeton University
Current Research Topics
  • International capital movements
  • Market risk measures
  • Chief

    Federal Reserve Board - Global Monetary and Sovereign Markets Section

    2015 - 2017
  • Chief

    Federal Reserve Board - Global Capital Markets Section

    2014 - 2015
  • Senior Economist

    Federal Reserve Board - Global Capital Markets Section

    2012 - 2014
  • Senior Economist

    Federal Reserve Board - International Financial Transactions Section

    2010 - 2012
  • Economist

    Federal Reserve Board - International Financial Transactions Section

    2005 - 2010
  • Vice President

    Salomon Brothers/Citigroup

    1994 - 2000
  • Curcuru, Stephanie E. (2017). "The Sensitivity of the U.S. Dollar Exchange Rate to Changes in Monetary Policy Expectations," IFDP Notes 2017-09-22. Board of Governors of the Federal Reserve System (U.S.).
  • Curcuru, Stephanie E., and Charles P. Thomas (2015). "The Return on U.S. Direct Investment at Home and Abroad," in Measuring Wealth and Financial Intermediation and Their Links to the Real Economy. NBER Book Series Studies in Income and Wealth, vol. 73, pp. 205-230. University of Chicago Press.
  • Curcuru, Stephanie E., Charles P. Thomas, and Francis E. Warnock (2015). "Cross-border Portfolios: Assets, Liabilities, and Non-flow Adjustments," in Cross-border Financial Linkages: Challenges for Monetary Policy and Financial Stability. BIS Papers, no. 82. Bank for International Settlements, pp. 7-24.
  • Curcuru, Stephanie E., Charles P. Thomas, Francis E. Warnock, and Jon Wongswan (2014). "Uncovered Equity Parity and Rebalancing in International Portfolios," Journal of International Money and Finance, vol. 47, pp. 86-99.
  • Curcuru, Stephanie E., Charles P. Thomas, and Francis E. Warnock (2013). "On Returns Differentials," Journal of International Money and Finance, vol. 36, pp. 1-25.
  • Curcuru, Stephanie E., and Charles P. Thomas (2012). "The Return on U.S. Direct Investment at Home and Abroad," International Finance Discussion Papers 1057. Board of Governors of the Federal Reserve System (U.S.).
  • Thomas, Charles, Stephanie E. Curcuru, Francis E. Warnock, and Jon Wongswan (2011). "U.S. International Equity Investment and Past and Prospective Returns," American Economic Review, vol. 101, no. 7, pp. 3440-3455.
  • Curcuru, Stephanie E., Tomas Dvorak, and Francis E. Warnock (2010). "Decomposing the U.S. External Returns Differential," Journal of International Economics, vol. 80, no. 1, pp. 22-32.
  • Curcuru, Stephanie E., Charles P. Thomas, and Francis E. Warnock (2009). "Current Account Sustainability and Relative Reliability," in Frankel, Jeffrey, and Christopher Pissarides eds., NBER International Seminar on Macroeconomics 2008. Chicago: University of Chicago Press, pp. 67-109.
  • Curcuru, Stephanie E., John Heaton, Deborah Lucas, and Damien Moore (2009). "Heterogeneity and Portfolio Choice: Theory and Evidence," in Yacine Ait-Sahalia, Lars P. Hansen eds., Handbook of Financial Econometrics. Amsterdam: Elsevier Science.
  • Curcuru, Stephanie E., Tomas Dvorak, and Francis E. Warnock (2008). "Cross-Border Returns Differentials," Quarterly Journal of Economics, vol. 123, no. 4, pp. 1495-1530.
  • Curcuru, Stephanie E. (2007). "U.S. Cross-Border Derivatives Data: A User's Guide," Federal Reserve Bulletin, vol. 93, pp. A1-16.
  • Curcuru, Stephanie E., Tomas Dvorak, and Francis E. Warnock (2007). "The Stability of Large External Imbalances: The Role of Returns Differentials," NBER Working Papers 13074. National Bureau of Economic Research, Inc.
  • conference

    January 2012

    AEA Annual Meeting

    On Returns Differentials

  • conference

    June 2011

    Georgetown Center for Economic Research

    On Returns Differentials

  • seminar

    March 2011

    NBER International Finance and Macroeconomics Program

    On Returns Differentials

  • conference

    November 2010

    NBER Conference on Research in Income and Wealth (CRIW)

    The Return on FDI in the U.S. and Abroad

  • conference

    August 2010

    BIS Irving Fisher Committee Conference

    Measuring Carry Trade Activity

  • seminar

    March 2010

    Clemson University

    U.S. International Equity Investment and Past and Prospective Returns

  • conference

    February 2010

    Midwest Finance Association

    U.S. International Equity Investment and Past and Prospective Returns

Referee
  • Quarterly Journal of Economics
  • American Economic Review
  • Review of Financial Studies
  • Journal of International Economics
  • Economica
  • European Economic Review
  • Journal of Banking and Finance
  • Journal of Economic Dynamics and Control
  • Quarterly Review of Economics and Finance
  • Bulletin of Economic Research
Professional Affiliation
  • American Finance Association
Last update: October 2, 2017