Guglielmo Maria Caporale is Professor of Economics and Finance at Brunel University of London, where previously he was also Divisional Lead for Economics and Econometrics, Director of the Centre for Empirical Finance and Head of the Empirical Finance Research Group. Further, he is a CESifo Research Network Fellow and an RCEA (Rimini Centre for Economic Analysis) Senior Fellow. Prior to taking up his current position, he was a Research Officer at the National Institute of Economic and Social Research in London; a Research Fellow and then a Senior Research Fellow at the Centre for Economic Forecasting at London Business School; Professor of Economics at the University of East London; Professor of Economics and Finance and Director of the Centre for Monetary and Financial Economics at London South Bank University (LSBU). He has also been Visiting Professor at both London Metropolitan University and LSBU, Research Professor at DIW Berlin and an NCID (Navarra Center for International Development) Non-Resident Fellow. He carries out editorial duties for various academic journals (including Journal of International Money and Finance, International Review of Economics and Finance, International Economics, Machine Learning with Applications, Journal of Economics and Finance, SN Business and Economics, International Journal of Financial Studies) and is the Editor-in-Chief of Econometrics. He has published extensively in leading academic journals such as Journal of International Money and Finance, Journal of Banking and Finance, Journal of Empirical Finance, Journal of Futures Markets, Journal of International Financial Markets, Institutions & Money, International Journal of Finance and Economics, European Journal of Finance, International Review of Financial Analysis, Economics Letters, British Food Journal, Finance Research Letters, Journal of Time Series Analysis, Journal of Financial Econometrics, Oxford Bulletin of Economics and Statistics, Econometric Reviews, Journal of Forecasting, Journal of Economic Psychology, Review of International Economics, Canadian Journal of Economics, Journal of Macroeconomics, Quarterly Review of Economics and Finance, International Review of Economics and Finance, Empirical Economics, Journal of Economics and Finance and several others. He has recently edited the "Handbook of Financial Integration" and is currently editing the "Handbook of Climate Change and Financial Markets", both published by Edward Elgar Publishing. Qualifications: Phd Economics (LSE) MSc Economics (LSE) Laurea (Politics, LUISS, Rome)
The introduction of Artificial Intelligence (AI) is transforming very significantly financial markets.
For instance, market everyday activities are now often carried out using AI-driven trading desks and Machine Learning (ML) systems for market surveillance and other purposes. AI is also extensively applied for yield curve modelling, credit-risk estimation, liquidity detection and automated bond trading, and Natural Language Processing (NLP) is used to interpret policy communications. ML is also widely used for empirical asset pricing, exchange-rate forecasting, sovereign-risk scores, capital-flow prediction and AI-enhanced macroeconomic surveillance.
Given the developments described above this topic will focus on constructing appropriate indices or proxies for AI usage with the aim of examining its impact on the behaviour of the returns of various asset classes using suitable econometric methods such as panel data techniques. The analysis will produce a wealth of evidence which is directly relevant in terms of the policies required to deal with the new challenges posed by AI in the form of greater operational risk (including cyber risk) and too-big-to-fail externalities – the required changes in the micro-regulations and the internal risk management of financial institutions as well as in macroprudential policies and the regulatory framework will be analysed.
How to apply
If you are interested in applying for the above PhD topic please follow the steps below:
- Contact the supervisor by email or phone to discuss your interest and find out if you would be suitable. Supervisor details can be found on this topic page. The supervisor will guide you in developing the topic-specific research proposal, which will form part of your application.
- Click on the "Apply here" button on this page and you will be taken to the relevant PhD course page, where you can apply using an online application.
- Complete the online application indicating your selected supervisor and include the research proposal for the topic you have selected.
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This is a self-funded topic
Brunel offers a number of funding options to research students that help cover the cost of their tuition fees, contribute to living expenses or both. The UK Government is also offering Doctoral Student Loans for eligible students, and there is some funding available through the Research Councils. Many of our international students benefit from funding provided by their governments or employers. Brunel alumni enjoy tuition fee discounts of 15%.
