Political Economy and Public Economics
Political Economy and Public Economics
The Department of Economics at the University of Warwick has an active Political Economy and Public Economics (PEPE) Research Group. These two disciplines have natural complementarities. Political Economy focuses more on the political feasibility of certain policies by looking at which policies are more likely to enjoy public support and thus succeed in an electoral contest. Public economics looks more at determining which policies are optimal in every environment, but is less concerned about their political approval or feasibility.
Recent world events such as the public backlash against globalization and inequality have raised awareness for the need for more integration between these two approaches as political resistance to the adoption of potentially beneficial policies has become ever more salient. Hence by their very nature these two disciplines transcend traditional field divisions such as micro and macroeconomics: they use theoretical, empirical and experimental methods to obtain conclusions, thus generating synergies with various other groups in our department from development to experimental to history to macroeconomics to economic theory.
Our activities
PEPE Research Group Seminar
Thursday: 11.15am-12.30pm
A weekly seminar is organised that brings top economists and political scientist speakers every week for a double-feature seminar in coordination with the LSE.
For a detailed scheduled of speakers please follow the link below:
https://warwick.ac.uk/fac/soc/economics/seminars/seminars/political-economy
Organisers: Michela Redoano and Mateusz Stalinski
PEPE Research Group Annual Conference
In collaboration with colleagues from Princeton and Yale, and with the support of CEPR, the PEPE Research Group organises an annual conference which has become a central meeting of political economists in Europe. Having taken place in previous years in Venice and Rome, it attracts over 70 delegates attending from leading institutions in the US, EU and the UK. Every year, several of our PhD students get to participate in a fully funded conference with an opportunity to engage with leading scholars.
Find out more about this year's conference which will take place 26-27 April 2024 in Rome.
Organisers: Helios Herrera, Mateusz Stalinski
People
Academics
Academics associated with the PEPE Research Group are:
Research Students
Events
CWIP (CAGE Work in Progress) Workshop - Thiemo Fetzer
Title: Causal Claims (joint work with Prashant Garg (Imperial)).
Abstract: Economic research has experienced a profound shift towards establishing causal relationships using an ever expanding suite of empirical methods. Despite this "credibility revolution," there is limited comprehensive analysis of how these methods and causal claims have evolved across economics subfields. This paper addresses this gap by analyzing over 44,000 NBER and CEPR working papers using a custom large language model to extract structured information on authorship, empirical methods, underlying data and associated causal claims. We use this data to document the empiricisation of economics research with a significant growth in the use of methods like Difference-in-Differences, Instrumental Variables, and Randomized Controlled Trials, alongside an increase in the number of causal claims that are made and evidenced. Yet, nearly 30% of causal claims remain unsupported by rigorous identification strategies. We also observe rising narrative complexity and increased use of private data, raising concerns about transparency, replicability and property rights attached to knowledge goods that are produced using private data. Our findings highlight the evolving landscape of empirical economics, emphasizing the need for continued focus on methodological rigor and data accessibility. This study contributes to a better understanding of research practices in economics and informs efforts to enhance the credibility and transparency of the discipline.