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Development and History

The Department of Economics at the University of Warwick has an active Economic Development and History Research Group, with a weekly external seminar, a weekly internal workshop, and high quality PhD students. We also organise international conferences on campus, or in Venice.

Our activities

Economic History and Development Workshop/Seminar
Monday, 1.00-2.00pm
For faculty and PhD students at Warwick and other top-level academic institutions across the world. For a detailed scheduled of speakers please follow the link below:
History and Development Workshops
Organisers: Yannick Dupraz

 
 
Tue 22 Oct, '19
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CWIP Lunchtime Workshop - Eric Renault
S2.79

Title of talk is Identification Robust Inference for Risk Prices in Structural Stochastic Volatility Models.

Co-authors : Xu Cheng and Paul Sangrey (University of Pennsylvania)

Abstract: In structural stochastic volatility asset pricing models, changes in volatility affect risk premia through two channels: (1) the investor’s willingness to bear high volatility in order to get high expected returns as measured by the market return risk price, and (2) the investor’s direct aversion to changes in future volatility as measured by the volatility risk price. Disentangling these channels is difficult and poses a subtle identification problem that invalidates standard inference. We adopt the discrete-time exponentially affine model of Han, Khrapov, and Renault (2018), which links the identification of the volatility risk price to the leverage effect. In particular, we develop a minimum distance criterion that links the market return risk price, the volatility risk price, and the leverage effect to well-behaved reduced-form parameters that govern the return and volatility’s joint distribution. The link functions are almost flat if the leverage effect is close to zero, making estimating the volatility risk price difficult. We translate the conditional quasi-likelihood ratio test that Andrews and Mikusheva (2016) develop in a nonlinear GMM framework to a minimum distance framework. The resulting conditional quasi-likelihood ratio test is uniformly valid. We invert this test to derive robust confidence sets that provide correct coverage for the risk prices regardless of the leverage effect’s magnitude.

Wed 23 Oct, '19
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CAGE-AMES Workshop - Mausumi Das (Delhi School of Economics)
Cowling Room, S2.77

Mausumi Das (visiting Associate Professor, Delhi School of Economics) will be presenting at the CAGE AMES Seminar on 23rd October.

Title: Corruption, Culture and Comparative Development

Abstract: Agents in an economy differ in terms of their moral attitude towards corruption. Attitudes are culturally acquired and influence agents' occupational choice, which in turn impacts growth. In a heterogeneous agents framework, we explore this interaction between corruption, culture and the level of economic activities. We show that relationship between high-moral attitude and economic growth could be non-monotonic. Presence of many high moral agents helps in reducing the overall degree of corruption. At the same time, for any given level of corruption, high moral agents are less adaptable to game an already corrupt system in pursuit of economic profits. Thus the initial cultural composition of the population interacts with economic incentives to generate differential growth paths for different economies. Moreover the cultural composition of the population changes endogenously responding to economic growth, which creates possibilities of multiple balanced growth paths and culture-induced poverty traps.

Tue 29 Oct, '19
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CWIP Lunchtime Workshop - Arianna Ornaghi
S2.79
Tue 5 Nov, '19
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CWIP Lunchtime Workshop - Michela Redoano
S2.79
Wed 6 Nov, '19
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Econometrics Seminar - Victor Aguirregabiria (Toronto)
S2.79

Seminar organisers: Luis Candelaria, Kenichi Nagasawa & Giovanni Ricco

Tue 12 Nov, '19
-
CWIP Lunchtime Workshop - Michael Webb
S2.79

This workshop is hosted by Mirko Draca

Wed 13 Nov, '19
-
Econometrics Seminar - Ulrich Mueller (Princeton)
S2.79

Seminar organisers: Luis Candelaria, Kenichi Nagasawa & Giovanni Ricco

Tue 19 Nov, '19
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CWIP Lunchtime Workshop - Yannick Dupraz
S2.79
Tue 26 Nov, '19
-
CWIP Lunchtime Workshop - Arun Advani
S2.79
Wed 27 Nov, '19
-
Econometrics Seminar - Marcelo Madeiros (PUC-Rio)
S2.79

Seminar organisers: Luis Candelaria, Kenichi Nagasawa & Giovanni Ricco

Tue 3 Dec, '19
-
CWIP Lunchtime Workshop - James Fenske
S2.79
Wed 22 Apr, '20
-
Econometrics Seminar - Shakeeb Khan (BC)
S2.79

Seminar organisers: Luis Candelaria, Kenichi Nagasawa & Giovanni Ricco

Wed 6 May, '20
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Econometrics Seminar - Mattias Cattaneo (Princeton)
S2.79

Seminar organisers: Luis Candelaria, Kenichi Nagasawa & Giovanni Ricco

Mon 18 May, '20 - Tue 19 May, '20
9am - 4pm
Econometrics Workshop
S0.19

Runs from Monday, May 18 to Tuesday, May 19.

Wed 27 May, '20
-
Econometrics Seminar - Elena Manresa (NYU)
S2.79

Seminar organisers: Luis Candelaria, Kenichi Nagasawa & Giovanni Ricco