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Economic Science

The conformity of economic papers

Posted by e-axes on May 17, 2017

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Noah Smith argues that there three types of economic papers that are being written now days: a) papers with structural models that sort of fit some stylized facts; b) papers with purely empirical work and c) papers with empirical work and a structural model to explain the findings. All three types reveal that economists are focused on “theory vs. evidence” instead of using the two in conjunction.
How should theory and evidence relate to each other
By: Noah Smith – Stony Brook University

How the Economics of the Economics Profession Resists New Thinking
Nobel Laureate and INET Advisory Board member James Heckman and INET President Rob Johnson discuss peer-reviewed journals and a professional incentive structure that constricts the idea space and reinforces tired orthodoxies in economics.

Which papers get published

Card and DellaVigna’s citation-maximizing benchmark model seems to describe well the editorial decision process in economic journals. Yet they also identify an interesting deviation from this model: certain paper characteristics are strongly correlated with future citations. This suggests, according to the authors, that referees impose higher standards on certain types of papers, or that that they are effectively discounting the future citations that will be received by these papers.

What do Editors Maximize? Evidence from Four Leading Economics Journals
Authors: David Card, Stefano DellaVigna
From: UC Berkeley

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