American Economic Association

American Economic Association
Name	American Economic Association
Founded	0 1885
Location	Nashville, Tennessee, United States
Key people	Philip H. Dybvig (President, 2022)
Focus	Advancement of economic knowledge
Website	https://www.aeaweb.org/

American Economic Association. Founded in 1885 in Saratoga Springs, New York, it is one of the oldest and most prestigious learned societies in the field of economics. Its mission is to encourage economic research, issue influential publications, and promote discourse among scholars, policymakers, and the public. The association plays a central role in shaping the profession through its journals, annual conferences, and recognition of scholarly excellence.

History

The organization was established by a group of progressive economists, including its first president, Richard T. Ely, who sought to promote historical and statistical approaches over the more abstract classical economics of the era. Early meetings were often held in conjunction with the American Historical Association, reflecting its interdisciplinary roots. Throughout the 20th century, it grew in stature alongside the professionalization of economics, navigating major intellectual debates such as the rise of Keynesian economics and the monetarist challenge. Key figures like John Bates Clark, Milton Friedman, and Paul Samuelson have been deeply involved in its activities, helping to steer its course through periods of significant economic and political change, including the Great Depression and the Cold War.

Organization and governance

The association is governed by an elected Executive Committee and led by a president who serves a one-year term, a position historically held by distinguished economists such as Kenneth Arrow and Janet Yellen. Membership is open to anyone interested in economics, with categories for regular, student, and family members. Key operational arms include the Committee on Economic Education and the Committee on the Status of Women in the Economics Profession, which work on professional development and inclusivity. Its headquarters are located at Vanderbilt University in Nashville, Tennessee, providing administrative support for its wide-ranging programs and initiatives.

Publications

It publishes several of the world's most influential economics journals. Its flagship publications are the American Economic Review, the Journal of Economic Literature, and the Journal of Economic Perspectives, which feature peer-reviewed research, comprehensive literature surveys, and accessible articles on policy issues. In partnership with the American Finance Association, it also co-sponsors the Journal of Finance. These publications are central to academic discourse, often featuring groundbreaking work by Nobel laureates like Angus Deaton and Esther Duflo. The online platform EconLit, a comprehensive bibliography of economic literature, is another critical resource maintained by the association.

Annual meetings

The annual meeting, held every January, is among the largest gatherings of economists globally, typically attracting thousands of participants. It serves as the premier venue for presenting new research, conducting interviews for the academic job market, and hosting organized sessions on topics ranging from macroeconomics to behavioral economics. The meeting location rotates among major cities like Chicago, San Francisco, and Atlanta. In addition to paper presentations, the event features prominent keynote addresses, panel discussions with institutions like the Federal Reserve and the International Monetary Fund, and the announcement of major awards.

Awards and honors

The association administers several of the field's most coveted awards. The John Bates Clark Medal is awarded annually to the most promising economist under the age of forty, with past recipients including Paul Krugman and Emmanuel Saez. It also bestows the Distinguished Fellow award to recognize lifetime contributions. While not directly awarding the Nobel Memorial Prize in Economic Sciences, a vast majority of its recipients, such as Joseph Stiglitz and Elinor Ostrom, have been active members. These honors significantly shape professional reputations and academic careers within the discipline.

Influence and impact

The association exerts profound influence on the direction of economic research and public policy. Its journals set the standards for scholarly publication, and its meetings define the professional agenda. Through initiatives like the American Economic Association Summer Program, it has worked to increase diversity within the profession. Its members frequently hold influential positions in government agencies like the Council of Economic Advisers, central banks including the European Central Bank, and international organizations such as the World Bank. By fostering rigorous debate on issues from trade policy to climate change, it serves as a critical bridge between academic economics and the broader societal discourse.

Category:Learned societies of the United States Category:Economics organizations