Joshua Stillwagon

Assistant Professor

Academic Division: Economics
Westgate
# 313
781-239-4533

Bio

Josh Stillwagon was born and raised in the seacoast area of New Hampshire. He obtained a B.S., M.A., and Ph.D. in economics at the University of New Hampshire in 2005, 2008, and 2013 respectively. His research has been (or is scheduled to be) published in the Oxford Bulletin of Economics and Statistics; Journal of Economic Behavior & Organization; Journal of International Money & Finance; Macroeconomic Dynamics (Cambridge University Press); The North American Journal of Economics and Finance; Review of International Economics; Journal of International Financial Markets, Institutions, & Money; Economics Bulletin (Vanderbilt University); and New England Economic Indicators (Federal Reserve Bank of Boston). His research focuses primarily on international finance and financial economics; examining empirically the determinants of exchange rates, interest rates, and equity prices. This work is being done in conjunction with the Imperfect Knowledge Economics (IKE) program of the Institute for New Economic Thinking (INET). The empirical dimension of his research guides his teaching philosophy as well; striving to relate theory to real world data and illustrating abstract concepts through historical examples. Before coming to Babson, Josh was an assistant professor at Trinity College in Hartford, CT and a lecturer at the University of Copenhagen and the University of New Hampshire. In 2009, Josh served as a consultant on the state budget to the N.H. state senate finance committee, providing revenue forecasts and cost analysis. He has also conducted research for the Federal Reserve Bank of Boston on the employment and innovation impacts of state-level energy policies.

Academic Degrees

  • Ph D, University of New Hampshire
  • Certificate, University of Copenhagen
  • MA, University of New Hampshire
  • BS, University of New Hampshire

Awards & Honors

  • 2017 - Summer Grant ($15,000), Institute for New Economic Thinking (INET)
  • 2016 - Regional Semi-Finalist with Honorable Mention, Federal Reserve Challenge Competition
  • 2016 - Grant ($37,780), Institute for New Economic Thinking (INET)
  • 2012 - Young Scholar Initiative, Alfred P. Sloan Foundation and Institute for New Economic Thinking
  • 2009 - Research Creativity Award, University of New Hampshire
  • 2008 - Elizabeth Bogan Award, Economics Department, University of New Hampshire
  • 2008 - Outstanding Master's Paper, University of New Hampshire

Publications

Journal Articles

  • Stillwagon, J.R. (2018). With Roman Frydman (NYU) "Fundamental Factors and Extrapolation in Stock-Market Expectations: The Central Role of Structural Change". Journal of Economic Behavior & Organization, 148(12), 189-198. link
  • Stillwagon, J.R. (2018). With Katarina Juselius (U. of Copenhagen) "Are Outcomes Driving Expectations or the Other Way Around? An I(2) CVAR Analysis of Interest Rate Expectations in the Dollar/Pound Market" Journal of International Money & Finance, 83(6), 93-105. link
  • Stillwagon, J.R. (2017). "Are Risk Premia Related to Real Exchange Rate Swings? Evidence from I(2) CVARs with Survey Expectations" Macroeconomic Dynamics link
  • Stillwagon, J.R. (2017). "TIPS and the VIX: Spillovers from Financial Panic to Breakeven Inflation in an Automated, Nonlinear Modeling Framework". Oxford Bulletin of Economics and Statistics, 80(2), 218-235. link
  • Stillwagon, J.R. (2016). "Non-Linear Exchange Rate Relationships: An Automated Model Selection Approach with Indicator Saturation". North American Journal of Economics and Finance, 37(5), 84-109. link
  • Stillwagon, J.R. (2015). "Can the Consumption Capital Asset Pricing Model Account for Traders’ Expected Currency Returns?" Review of International Economics, 23(5), 1044-1069. link
  • Stillwagon, J.R. (2015). "Testing the Expectations Hypothesis with Survey Forecasts: The Impacts of Consumer Sentiment and the Zero Lower Bound in an I(2) CVAR". Journal of International Financial Markets, Institutions & Money, 35(5), 85-101. link
  • Stillwagon, J.R. (2014). "Reexamining What Survey Data Say about Currency Risk and Irrationality Using the Cointegrated VAR". Economics Bulletin, 34(3), 1631-1643. link
  • Gittell, R., Stillwagon, J.R. (2011). "Tracking Clean Industry Jobs in New England". New England Economic Indicators, QIII, 4-11. link

Presentations

  • TIPS and the VIX: Spillovers from Financial Panic to Breakeven Inflation in an Automated, Nonlinear Modeling Framework
    Stillwagon, J. TIPS and the VIX: Spillovers from Financial Panic to Breakeven Inflation in an Automated, Nonlinear Modeling Framework Invited Seminar, Appalachian State University (2017)
  • TIPS and the VIX: Spillovers from Financial Panic to Breakeven Inflation in an Automated, Nonlinear Modeling Framework
    Stillwagon, J. TIPS and the VIX: Spillovers from Financial Panic to Breakeven Inflation in an Automated, Nonlinear Modeling Framework Invited Seminar, Babson College (2017)
  • TIPS and the VIX: Spillovers from Financial Panic to Breakeven Inflation in an Automated, Nonlinear Modeling Framework
    Stillwagon, J. TIPS and the VIX: Spillovers from Financial Panic to Breakeven Inflation in an Automated, Nonlinear Modeling Framework Invited Seminar, Sacred Heart University (2016)
  • REH or Behavioral Insights in Stock Market Expectations? Evidence that Both Matter but in Ways Changing Over Time
    Stillwagon, J., Frydman, R. REH or Behavioral Insights in Stock Market Expectations? Evidence that Both Matter but in Ways Changing Over Time 17th Oxmetrics Conference, George Washington University (2016)
  • TIPS and the VIX: Spillovers from Financial Panic to Breakeven Inflation in an Automated, Nonlinear Modeling Framework
    Stillwagon, J. TIPS and the VIX: Spillovers from Financial Panic to Breakeven Inflation in an Automated, Nonlinear Modeling Framework Invited Seminar, University of New Hampshire (2016)
  • TIPS and the VIX: Spillovers from Financial Panic to Breakeven Inflation in an Automated, Nonlinear Modeling Framework
    Stillwagon, J. TIPS and the VIX: Spillovers from Financial Panic to Breakeven Inflation in an Automated, Nonlinear Modeling Framework 16th Oxmetrics User Conference, Aix Marseille University (2015)
  • Non-linear Exchange Rate Relationships: An Automated Model Selection Approach
    Stillwagon, J. Non-linear Exchange Rate Relationships: An Automated Model Selection Approach Eastern Economic Association Conference, New York (2015)
  • Exchange Rate Dynamics and Forecast Errors about Persistently Changing Fundamentals
    Stillwagon, J. Exchange Rate Dynamics and Forecast Errors about Persistently Changing Fundamentals "Cointegration: Theory and Application" in honor of Katarina Juselius, University of Copenhagen (2014)
  • Can the CCAPM Account for Traders' Expected Currency Returns?
    Stillwagon, J. Can the CCAPM Account for Traders' Expected Currency Returns? Eastern Economic Association Conference, Boston (2014)
  • Testing the Expectations Hypothesis with Survey Forecasts: The Impacts of Consumer Sentiment and the Zero Lower Bound in an I(2) CVAR
    Stillwagon, J. Testing the Expectations Hypothesis with Survey Forecasts: The Impacts of Consumer Sentiment and the Zero Lower Bound in an I(2) CVAR Eastern Economic Association Conference, Boston (2014)
  • Currency Risk and Imperfect Knowledge: CVAR Analyses with Survey Data
    Stillwagon, J. Currency Risk and Imperfect Knowledge: CVAR Analyses with Survey Data Invited Seminar, Bryant University (2013)
  • A Keynes-IKE Model of Currency Risk
    Stillwagon, J. A Keynes-IKE Model of Currency Risk Plenary Conference of the Institute for New Economic Thinking, Hong Kong (2013)
  • Currency Risk: Volatility and Long Swings around Benchmark Values
    Stillwagon, J. Currency Risk: Volatility and Long Swings around Benchmark Values Invited Seminar, Bowling Green State University (2013)
  • Currency Risk: Volatility and Long Swings around Benchmark Values
    Stillwagon, J. Currency Risk: Volatility and Long Swings around Benchmark Values Invited Seminar, College of Charleston (2013)
  • Currency Risk: Volatility and Long Swings around Benchmark Values
    Stillwagon, J. Currency Risk: Volatility and Long Swings around Benchmark Values Invited Seminar, Murray State University (2013)
  • Currency Risk: Volatility and Long Swings around Benchmark Values
    Stillwagon, J. Currency Risk: Volatility and Long Swings around Benchmark Values Invited Seminar, University of Wisconsin-Whitewater (2013)
  • Currency Risk: Volatility and Long Swings around Benchmark Values
    Stillwagon, J. Currency Risk: Volatility and Long Swings around Benchmark Values Invited Seminar, Wichita State University (2013)
  • Currency Risk: Volatility and Long Swings around Benchmark Values
    Stillwagon, J. Currency Risk: Volatility and Long Swings around Benchmark Values Invited Seminar, Franklin & Marshall College (2013)
  • Currency Risk: Volatility and Long Swings around Benchmark Values
    Stillwagon, J. Currency Risk: Volatility and Long Swings around Benchmark Values Invited Seminar, Trinity College (2012)
  • The Puzzling Behavior of Asset Returns: Insights from Prospect Theory
    Stillwagon, J. The Puzzling Behavior of Asset Returns: Insights from Prospect Theory Invited Seminar, Connecticut College (2012)
  • The Dynamic Effects of State-level Energy and Environmental Policies on Clean Technology Innovation and Employment
    Stillwagon, J. The Dynamic Effects of State-level Energy and Environmental Policies on Clean Technology Innovation and Employment Invited Seminar, Federal Reserve Bank of Boston (2011)
  • Does New England have a Green Economy Advantage?
    Stillwagon, J. Does New England have a Green Economy Advantage? Invited Seminar, Federal Reserve Bank of Boston (2010)
  • UNH Economic Impact Study
    Stillwagon, J. UNH Economic Impact Study UNH Legislative Breakfast, House of Representatives, Concord, NH (2009)

Professional Services

  • Member
    Boston Federal Reserve Challenge Leadership Council (2016)
  • Reviewer, Journal Article
    Economics Bulletin ()
  • Reviewer, Journal Article
    Journal of International Money & Finance ()
  • Reviewer, Journal Article
    Critical Finance Review ()
  • Reviewer, Journal Article
    Econometrics ()
  • Reviewer, Journal Article
    Empirical Economics ()
  • Reviewer, Journal Article
    Southern Economic Journal ()
  • Reviewer, Journal Article
    Journal of Economic Education ()
  • Reviewer, Journal Article
    Journal of Economic Methodology ()
  • Reviewer, Journal Article
    Politics, Philosophy and Economics ()
  • Reviewer, Journal Article
    Journal of Macroeconomics ()
  • Reviewer, Journal Article
    Review of World Economics ()