Our objective is to engage in innovative research that extends the frontiers of the discipline, contributing to a deeper understanding of how modern economies function, and how they can adapt to future challenges. Our research spans almost all the major sub-fields of economics.
As a Department, we are consistently ranked in the top 30 in the world, and in the top 10 in Europe, for the quality of our research output. For example, we are ranked 20th in the world and 5th in Europe in the most recent Tilburg University ranking of Economics departments, and we are currently 25th in the world, and 6th in Europe, in the most recent QS University Rankings.
In the most recent Research Excellence Framework (REF 2014) to evaluate the research output of UK Universities, Warwick was ranked 4th in the UK, behind only the LSE, UCL and Oxford, on a measure that takes into account both the proportion of faculty submitted and the quality of outputs submitted. In our submission, 45% of our research was rated as 'world -leading' (4*) and a further 51% rated as 'internationally excellent' (3*).
Research in the Department is based in a number of Research Groups, each of which has its own seminar or workshop series. The interests of individual researchers often overlap the Groups; the purpose of the Groups is to allow Department members with similar interests to meet regularly and to support each other's research.
CAGE
Established in 2010 and funded by the ESRC, CAGE conducts policy-driven economics research informed by culture, history and behaviour. We analyse historical and contemporary data to draw out lessons for modern policy.
Find out moreCRETA
CRETA coordinates collaborative research in economic theory, its applications and in multi-disciplinary projects with related disciplines such as applied mathematics, biology, philosophy and political science.
Find out moreQAPEC
QAPEC provides a framework to coordinate collaborative research in quantitative and analytical political economy within the University of Warwick as well as with the Centre’s UK and international networks and partners.
Find out moreDevelopment and History
Members of the Development and Economic History Research Group combine archival data, lab-in-the-field experiments, randomised controlled trials, text analysis, survey and secondary data along with theoretical tools to study issues in development and economic history.
Find out moreEconometrics and Labour
The Econometrics and Labour Research Group covers a wide number of topics within the areas of modern econometric theory and applications, e.g. the econometrics of networks, as well as labour economics, e.g. the economics of education, gender economics, technology and innovation.
Find out moreExperimental and Behavioural Economics
The Experimental and Behavioural Economics Research Group draws its membership from economists based at the Warwick Department of Economics who work in the fields of experimental economics, behavioural economics and/or subjective wellbeing (“Happiness Economics”).
Find out moreMacroeconomics and International Economics
The Macroeconomics and International Economics Research Group consists of faculty and PhD students and its research work centres around macroeconomics, international finance and international trade.
Find out moreMicroeconomic Theory
The Microeconomic Theory Research Group works closely with the Centre for Research in Economic Theory and Its Applications (CRETA). Members of the Group work in economic theory, in its applications, and in multidisciplinary projects with areas such as applied mathematics, biology, philosophy and political science.
Find out morePolitical Economy and Public Economics
The Political Economy and Public Economics Research Group investigates topics from two disciplines which have natural complementarities. Political economy focuses more on the political feasibility of certain policies whereas public economics tries to determine which policies are optimal in every environment.
Find out moreDR@W
An interdisciplinary initiative for researchers at the University interested in experimental and behavioural science with important implications for economics, psychology, management, marketing and statistics.
Find out moreEPEC
The European Political Economy Consortium fosters high-quality research in political economy by facilitating exchange among the leading European centres in political economy. It consists of five founding institutions, including Warwick.
Find out more
Mon 24 Apr, '23- |
Economic History Seminar - Alex Whalley (U.Calgary)S2.79The title is Moonshot: Public R&D and Growth |
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Mon 24 Apr, '23- |
Econometrics Seminar - Andrei Zeleneev (UCL)S2.79Title: Robust Estimation and Inference in Panels with Interactive Fixed Effects (with Timothy B. Armstrong and Martin Weidner) Abstract We consider estimation and inference for a regression coefficient in a panel setting with time and individual specific effects which follow a factor structure. Previous approaches to this model require a "strong factor" assumption, which allows the factors to be consistently estimated, thereby removing omitted variable bias due to the unobserved factors. We propose confidence intervals (CIs) that are robust to failure of this assumption, along with estimators that achieve better rates of convergence than previous methods when factors may be weak. Our approach applies the theory of minimax linear estimation to form a debiased estimate using a nuclear norm bound on the error of an initial estimate of the individual effects. In Monte Carlo experiments, we find a substantial improvement over conventional approaches when factors are weak, with little cost to estimation error when factors are strong. |
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Tue 25 Apr, '23- |
Teaching & Learning Seminar - Irene Foster (AEA)S2.79Title: Assessment of Learning Irene asks the question 'How do you know that students are actually learning what you said they would learn and at what level are they learning it?' |
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Tue 25 Apr, '23- |
MIEW (Macro/International Economics Workshop) - Esther Mirjam GirsbergerS2.79Title: The Puzzle of Educated Unemployment in West Africa (with Romuald Meango). |
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Tue 25 Apr, '23- |
CWIP (CAGE Work in Progress) Workshop - Dita EckardtS2.79Title: Understanding the Effects of Labor Market Entry Conditions: The Role of Skill Match . |
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Tue 25 Apr, '23- |
Applied Economics, Econometrics & Public Policy (CAGE) Seminar - Matt Lowe (UBC)S2.79Title to be advised. |
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Thu 27 Apr, '23- |
Macro/International Seminar - Isaac BaleyS2.79A preliminary title is "Self-Insurance in Turbulent Labor Markets" (joint with Ana Figueiredo, Cristiano Mantovani, and Alireza Sepahsalari). |
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Tue 2 May, '23- |
MIEW (Macro/International Economics Workshop) - Ivan Yotsov (PGR)S2.79Title: CPI releases and inflation expectations: Evidence from the Decision Maker Panel |
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Tue 2 May, '23- |
CWIP (CAGE Work in Progress) Workshop - Subhasish DeyS2.79Title: Educated Leaders through Legislation but at What Cost? Abstract: Many societies have tried to design incentives and restrictions to improve the quality of their political leaders. In this paper, we use a legislation introduced in 2014 that mandated minimum education requirements– a correlate of quality, in the context of local village council elections in Rajasthan to look at the impact of such restrictions on the selection of elected leaders. We show that there was a higher probability of under-representation of disadvantaged groups where such legislation hit the hardest in terms of the incumbent not meeting the education criteria. These results are robust to accounting for differential trends by education and population characteristics. Furthermore, we find that this legislation did not lead to demonstrable improvement in performance of public program (NREGS), economic development as measured by night time luminosity or investment in education as measured by new school openings. |
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Tue 2 May, '23- |
Applied Economics, Econometrics & Public Policy (CAGE) Seminar - Gabriel Kreindler (Harvard)S2.79TITLE Optimal Public Transportation Networks: Evidence from the World's Largest Bus Rapid Transit System in Jakarta |
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Wed 3 May, '23- |
CAGE-AMES Workshop - Ioacopo Monterosa (Turin - visiting research student)S2.79Iacopo Monterosa (University of Turin) is a visiting research student until July 2023. Iacopo graduated from our department with an MSc in Economics in 2021. Please find the title and abstract of his presentation below. Title: Environmental Degradation and Social Unrest: an Analysis of Open-Air Waste Burning in Italy Although environmental activism has been increasing worldwide in recent years, less is known about what drives variation among and within countries in such activism. In this project, I examine the role of exposure to local episodes of pollution as a potential driver. I ask if exposure to environmental degradation fosters pro-environmental protests as well as the intensity of social unrest in general. Using granular data on open-air fires of industrial waste and protests in Italy, I document an increase in environmental protests and violence (i.e. riots) following a fire. To account for the endogeneity of fire location, I rely on the fact that some industrial waste containing copper is burned by copper thieves when trying to get hold of this valuable metal. I thus exploit exogenous variation in the world price of copper to confirm that open-air fires are consequential for both environmental protests and violent events. |
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Wed 3 May, '23- |
Teaching & Learning Seminar - Fabio Arico (UEA)S2.79Title: Embracing Artificial Intelligence in Assessment: designing in or designing out? |
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Thu 4 May, '23- |
Macro/International Seminar - Milena Almagro (Chicago Booth)S2.79Title to be advised |
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Thu 4 May, '23- |
CRETA Seminar - Dirk Bergemann (Yale)S2.79Title: Cost Based Nonlinear Pricing with Tibor Heumann, Pontificia Universidad Católica de Chile, tibor.heumann@uc.cl. Stephen Morris, Massachusetts Institute of Technology, semorris@mit.edu Abstract: How should a monopolist offer quantity or quality differentiated products if they have no information about the distribution of demand and must price based on cost conditions alone? Specifically, we consider a monopolist who cares about the "profit guarantee" of a pricing rule, that is, the minimum ratio value of expected profits to expected surplus for any distribution of demand. We show that the profit guarantee is maximized by setting the price markup over marginal cost equal to (describe) function of elasticity. We provide profit guarantees (and associated mechanisms) that the seller can achieve across all possible distributions of willingness to pay of the buyers. With a constant elasticity cost function, constant markup pricing provides the optimal revenue guarantee across all possible distributions of willingness to pay and the lower bound is attained under a Pareto distribution. We characterize how profits and consumer surplus vary with the distribution of values and show that Pareto distributions are extremal. We also provide a revenue guarantee for general cost functions. We establish equivalent results for optimal procurement policies that support maximal surplus guarantees for the buyer given all possible cost distributions of the sellers. |
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Tue 9 May, '23- |
CWIP (CAGE Work in Progress) Workshop - Sanchari RoyS2.79Title to be advised. |
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Tue 9 May, '23- |
Applied Economics, Econometrics & Public Policy (CAGE) Seminar - Joshua Blumenstock (Berekeley)S2.79Title: Targeting Social Assistance with Machine Learning Abstract: Targeting is a central challenge in the design of anti-poverty programs: given available data, how does one identify the individuals and households with the greatest need? Here we show that machine learning, applied to non-traditional data from satellites and mobile phones, can improve the targeting of anti-poverty programs. Our analysis is based on data from three field-based projects -- in Togo, Afghanistan, and Kenya -- that illustrate the promise, as well as some of the potential challenges, of this new approach to targeting. Collectively, the results highlight the potential for new data sources to improve humanitarian response efforts, particularly in crisis settings when traditional data are missing or out of date. |
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Wed 10 May, '23- |
CAGE-AMES Workshop - Priyama Majumdar & Albert DudouS2.79There will be two 30 min presentations. Details below: Priyama Majumdar is presenting "Women Political Leadership and Dowry: Evidence from India." Albert Dudou, title TBD. |
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Wed 10 May, '23- |
CRETA Seminar - Nageeb Ali (Penn State)S2.79 |
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Thu 11 May, '23- |
Macro/International Seminar - Francesca Loria (FED Board)S2.79 |
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Fri 12 May, '23- |
SeminarS2.79“The Effects of Business School Education on Manager Career Outcomes” |
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Mon 15 May, '23- |
Economic History Seminar - Yanos Zylberberg (Bristol)S2.79Title: State of the Art: Economic development through the lens of paintings (with Gorin and Heblich) |
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Tue 16 May, '23- |
CWIP (CAGE Work in Progress) Workshop - Titir Bhattacharya - CANCELLEDS2.79 |
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Tue 16 May, '23- |
Applied Economics, Econometrics & Public Policy (CAGE) Seminar - Bruno Conte (Bologna)S2.79Title: Climate change and migration: the case of Africa. Abstract:
This paper estimates the impacts of climate change in sub-Saharan Africa (SSA) on migration and other economic outcomes. I develop a quantitative spatial model that captures the role of trade networks, migration barriers, and agricultural yields on the geography of the economy. I combine the model with forecasts of future crop yields to find that climate change, by the end of the century, reduces SSA real GDP per capita by 1.8 percent and displaces 4 million individuals. Migration barriers in SSA are very stringent: if absent, climate-induced migration exceeds 100 million individuals. Still, migration and trade are powerful adaptation mechanisms. Reducing migration barriers to the European Union (EU) standards eliminates the aggregate economic losses of climate change in SSA, but at the cost of more climate migration and higher regional inequality. Also reducing trade frictions to the EU levels attenuates this cost and makes SSA better off on aggregate and distributional terms. |
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Wed 17 May, '23- |
CAGE-AMES Workshop - Alejandra Martinez Cubilios (PGR)What affects the survival of trade relationships? Evidence from road disruptions in Colombia
With climate change, weather patterns like El Niño Southern Oscillation (ENSO) are becoming more persistent and disruptive. It is crucial to understand how to adapt to extreme weather shocks. This paper investigates how extreme weather events can spread through trade channels, and it is the first one that focuses on the extensive margin of relationships. I use the rain season of La Niña in Colombia during 2010-2011, which caused major road closures that disrupted the transportation of goods. I focus in the Colombian flower sector and its main export market, the US. I find treated relationships exit less after the shock, but within treatment, links from larger and more connected exporters exit more relative to links with small and less-connected exporters. The shock also induced larger exporters to increase their matching after the shock relative to non-affected exporters. The empirical results point out that search frictions are a mechanism at play and the effect on firms varies depending on their size. In this sense, replacing buyers might be more costly to small firms, which explains the lower exit rates observed in the data, but other mechanisms are needed to explain the different responses when considering different network sizes. |
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Wed 17 May, '23- |
SeminarS2.79Title: Historical Self-Governance and Norms of Cooperation Abstract: Does self-governance, a hallmark of democratic societies, foster or erode norms of generalized cooperation? Does this effect persist, and if so, why? I investigate these questions using a natural experiment in Switzerland. In the middle-ages, the absence of an heir resulted in the extinction of a prominent noble dynasty. As a result, some Swiss municipalities became self-governing, whereas the others remained under feudalism for another 600 years. Evidence from a behavioral experiment, World Values Survey, and Swiss Household Panel consistently shows that individuals from historically self-governing municipalities exhibit stronger norms of cooperation today. Referenda data on voter-turnout, women's suffrage, and minority citizenship, allow me to trace these effects on individually costly and socially beneficial actions for over 150 years. Furthermore, norms of cooperation map into prosocial behaviors like charitable giving and environmental protection. Uniquely, Switzerland tracks every family's place of origin in registration data, which I use to demonstrate persistence from cultural transmission in a context of historically low migration. |
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Wed 17 May, '23- |
CRETA Seminar - Lones Smith (Wisconsin)S2.79Title: Accept this Paper" (with Andrea WilsonLink opens in a new window) |
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Thu 18 May, '23- |
Macro/International Seminar - Nico Trachter (Richmond Fed)S2.79Title: Sectoral Development Multipliers, joint work with Francisco Buera (Washington University at St Louis). Abstract: We study how technology adoption complementarities propagate through an input-output network of sector production. We devise a procedure to estimate both non-parametrically and structurally the incidence of distortions and the relevance of technology adoption across and within sectors. We then compute the response of aggregate output to sector revenue and adoption subsidies aimed to spur development through sector reallocation of production and technology adoption. Large multipliers occur for sectors that are central in both the production and adoption networks. Accounting for adoption greatly magnifies the relative importance of central sectors. |
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Mon 22 May, '23- |
Economic History Seminar - Martin Fiszbein (Boston U)S2.79 |
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Mon 22 May, '23- |
Econometrics - Jasmin Fliegner (Manchester)S2.79The title of the talk is: How Biased are Observational Methods in Practice? Accumulating Evidence Using Randomised Controlled Trials with Imperfect Compliance, joint with David Rhys Bernard, Gharad Bryan, Sylvain Chabé-Ferret, Jon de Quidt and Roland Rathelot. The abstract: Consider a policy maker choosing between programs of unknown impact. She can inform her decision using observational methods, or by running a randomised controlled trial (RCT). The proponents of RCTs would argue that observational approaches suffer from bias of an unknown size and direction, and so are uninformative. Our study treats this as an empirical claim that can be studied. By doing so we hope to increase the value of observational data and studies, as well as better inform the choice to undertake RCTs. We propose a large-scale, standardised, hands-off approach to assessing the performance of observational methods. First, we collect and categorise data from a large number of RCTs in the past 20 years. Second, we implement new methods to understand the size and direction of expected bias in observational studies, and how bias depends on measurable characteristics of programmes and settings. We find that the difference between observational estimators and the experimental benchmark is on average zero, but the resulting observational bias distribution has high variance. |
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Tue 23 May, '23- |
Applied Economics, Econometrics & Public Policy (CAGE) Seminar - Russell Weinstein (Illinois)S2.79Title: Workhorses of Opportunity: Regional Universities Increase Local Social Mobility (with Greg Howard).
Abstract: Regional public universities educate approximately 70 percent of college students at of regional universities on the social mobility of nearby children. Children in counties given a normal school get more education and have better economic and social outcomes, especially lower-income children. For several key outcomes, we show this effect is a causal effect on children, and not only selection on which children live near |