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Professor of Finance and Economics in the Business School+44 (0) 191 33 45433

Biography

Kevin Dowd is professor of finance and economics at the Department of Finance at Durham University Business School. He joined Durham in 2012 and previously worked at the Universities of Nottingham and Sheffield, Sheffield Hallam University and the Ontario Economic Council in Toronto.

He has external affiliations with the Adam Smith Institute, the Cato Institute, the Institute of Economic Affairs, the Independent Institute and the Taxpayers’ Alliance.

Research interests

  • Private money, free banking, financial regulation and central banking;
  • Monetary and macroeconomics;
  • Financial risk management; and
  • Pensions, mortality and longevity risk.
  • His current research focuses on option pricing, equity release, free banking and central bank digital currencies.

Publications

Authored book

Chapter in book

  • Central Bank Activism: Good Intentions, Bad Policy
    Dowd, K. (2022). Central Bank Activism: Good Intentions, Bad Policy. In J. A. Dorn (Ed.), Populism and the Future of the Fed (pp. 255-270). Cato Institute.
  • Selginian Free Banking: A Comment on George Selgin’s Lecture
    Dowd, K. (2017). Selginian Free Banking: A Comment on George Selgin’s Lecture. In Financial Stability without Central Banks (pp. 37-48). Institute of Economic Affairs.
  • Contemporary Private Monetary Systems
    Dowd, K. (2015). Contemporary Private Monetary Systems. In L. H. White, V. Vanberg, & E. A. Kohler (Eds.), Renewing the Search for a Monetary Constitution: Reforming Government’s Role in the Monetary System (pp. 213-253). Cato Institute.
  • Free Banking.
    Dowd, K. (2015). Free Banking. In Oxford Handbook of Austrian Economics. Oxford University Press.
  • Model Risk
    Dowd, K. (2012). Model Risk. In F. Fabozzi (Ed.), Encyclopedia of Financial Models. Wiley: Hoboken, NJ.
  • Reawakening the Inflation Monster: US Monetary Policy and the Federal Reserve
    Dowd, K., & Hutchinson, M. (2010). Reawakening the Inflation Monster: US Monetary Policy and the Federal Reserve. In R. Kolb (Ed.), Lessons from the Financial Crisis: Insights and Analysis from Today’s Leading Minds. (pp. 475-481). Wiley. https://doi.org/10.1002/9781118266588.ch59
  • Value-at-Risk
    Dowd, K. (2010). Value-at-Risk. In R. Cont (Ed.), Encyclopedia of Quantitative Finance (1st ed., pp. 1863-1866). Wiley.
  • Quantile-based tail risk estimation for equity portfolios.
    Cotter, J., & Dowd, K. (2009). Quantile-based tail risk estimation for equity portfolios. In G. Gregoriou (Ed.), The VaR Modelling Handbook: Practical Applications in Alternative INvesting, Banking, Insurance and Portfolio Management (01st ed., pp. 297-313). McGraw-Hill.
  • Stress Tests, Market Risk Measures and Extremes: Bringing Stress Tests to the Forefront of Market Risk Management.
    Aragones, J., Blanco, C., & Dowd, K. (2009). Stress Tests, Market Risk Measures and Extremes: Bringing Stress Tests to the Forefront of Market Risk Management. In D. Rosch & H. Scheule (Eds.), Stress Testing for Financial Institutions: Applications, Regulations and Techniques (pp. 17-33). Risk Books.
  • Efficient VaR: Using Past Forecast Performance to Generate Improved VaR Forecasts.
    Dowd, K., & Blanco, C. (2009). Efficient VaR: Using Past Forecast Performance to Generate Improved VaR Forecasts. In G. Gregoriou (Ed.), The VaR Implementation Handbook: Financial Risk and its Applications in Asset Management, Measurement and Modeling (01st ed., pp. 25-39). McGraw-Hill.
  • Back-Testing Market Risk Models
    Dowd, K. (2008). Back-Testing Market Risk Models. In F. Fabozzi (Ed.), Handbook of Finance (pp. 93-99). Wiley: Hoboken, NJ. https://doi.org/10.1002/9780470404324
  • A Moments-based Procedure for Evaluating Risk Forecasting Models.
    Dowd, K. (2008). A Moments-based Procedure for Evaluating Risk Forecasting Models. In G. Christodoulakis & S. Satcchell (Eds.), Analytics of Risk Model Validation (pp. 45-59). Elsevier.
  • Default Risk.
    Dowd, K. (2008). Default Risk. In E. Melnick & B. Everitt (Eds.), Encyclopedia of Quantitative Risk Assessment and Analysis (pp. 476-481). John Wiley and Sons. https://doi.org/10.1002/9780470061596
  • Securitization/Life
    Blake, D., & Dowd, K. (2008). Securitization/Life. In E. Melnick & B. Everitt (Eds.), Encyclopedia of Quantitative Risk Analysis and Assessment (pp. 1623-1627). John Wiley and Sons.
  • Forecasting Inflation: The Inflation "Fan Charts".
    Dowd, K. (2006). Forecasting Inflation: The Inflation "Fan Charts". In K. and Matthews & P. Booth (Eds.), Isues in Monetary Policy: The Relationship between Money and Financial Markets. (pp. 80-93). John Wiley and Sons, Chichester.
  • Value-at-Risk
    Dowd, K. (2006). Value-at-Risk. In J. Teugelsl & B. Sundt (Eds.), Encyclopedia of Actuarial Science (pp. 1740-1748). John Wiley and Sons. https://doi.org/10.1002/9780470012505.tav004
  • Gold Standard
    Dowd, K. (2002). Gold Standard. In B. and Snowdon & H. Vane (Eds.), An Encyclopedia of Macroeconomics (pp. 293-296). Edward Elgar, Cheltenham.
  • Time Inconsistency.
    Dowd, K. (2002). Time Inconsistency. In B. and Snowdon & H. Vane (Eds.), An Encyclopedia of Macroeconomics. (pp. 699-703). Edward Elgar, Cheltenham.
  • Patemalism Fails Again - The Story of the Financial Services Act
    Dowd, K., & Hinchliffe, J. (2000). Patemalism Fails Again - The Story of the Financial Services Act. In K. Dowd (Ed.), Money and the Market: Essays on Free Banking (pp. 167-182). Routledge.
  • The "Compensated Dollar" Revisited.
    Dowd, K. (2000). The "Compensated Dollar" Revisited. In K. Dowd (Ed.), Money and the Market: Essays on Free Banking (pp. 104-113). Routledge.
  • The Invisible Hand and the Evolution of the Monetary System
    Dowd, K. (1999). The Invisible Hand and the Evolution of the Monetary System. In J. Smithin (Ed.), What is Money? (pp. 139-156). Routledge.
  • The Misguided Drive Toward European Monetary Union
    Dowd, K. T., & Jr, R. (1998). The Misguided Drive Toward European Monetary Union. In Money and the Nation State: The Financial Revolution, Government and the World Monetary System. Transaction Publishers.
  • Is Convertibility on Demand Always Optimal?
    Chappell, D., & Dowd, K. (1997). Is Convertibility on Demand Always Optimal?. In P. Topsacalian (Ed.), Contemporary Developments in Finance (pp. 167-174). ESKA.
  • Option Clause
    Dowd, K. (1997). Option Clause. In D. Glasner (Ed.), Business Cycles and Depressions. An Encyclopedia. (pp. 501-2). Garland Pulbishers, New York.
  • Money and Banking: The American Experience.
    Dowd, K. (1995). Money and Banking: The American Experience. In G. E. D. Foundation (Ed.), Money and Banking: The American Experience. (pp. 1-29). George Mason University Press.
  • Free Banking
    Dowd, K. (1994). Free Banking. In A. Mullineux & V. Murinde (Eds.), Handbook of International Banking. (pp. 173-190). Cheltenham Edward Elgar.
  • Free Banking
    Dowd, K. (1994). Free Banking. In P. Boettke (Ed.), The Elgar Companion to Austrian Economics (pp. 408-413). Edward Elgar Publishing.
  • Free Banking in Australia
    Dowd, K. (1992). Free Banking in Australia. In K. Dowd (Ed.), The Experience of Free Banking (pp. 48-78). Routledge.
  • Stopping Inflation.
    Dowd, K. (1992). Stopping Inflation. In Honest Money. (21st ed., pp. 13-22). Australian Institute for Public Policy. Perth, WA.
  • US Banking in the Free Banking Period
    Dowd, K. (1992). US Banking in the Free Banking Period. In K. Dowd (Ed.), The Experience of Free Banking (pp. 206-240). Routledge.
  • The Evolution of Central Banking in England, 1821-1890
    Dowd, K. (1991). The Evolution of Central Banking in England, 1821-1890. In F. Capie & G. Wood (Eds.), Unregulated Banking: Order or Chaos? (pp. 24-28). Macmillan.

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