American Economic Review

American Economic Review. It is a premier peer-reviewed academic journal and the flagship publication of the American Economic Association. Established in 1911, it is one of the most influential and widely cited journals in the field of economics, publishing groundbreaking research across all areas of economic inquiry. The journal is renowned for its rigorous editorial standards and its role in shaping economic thought and policy debates globally.

History and background

The journal was founded in 1911 under the auspices of the American Economic Association, which itself was established in 1885 by figures like Richard T. Ely and John Bates Clark. Its creation was part of a broader professionalization of economics in the United States, following earlier publications like the Quarterly Journal of Economics and the Journal of Political Economy. Early editors, including Davis R. Dewey and Allyn A. Young, helped establish its reputation. Throughout the 20th century, it published seminal work during key periods such as the Great Depression, the rise of Keynesian economics, and the development of monetarism associated with the Federal Reserve and economists like Milton Friedman. The journal's history is intertwined with major institutions like the National Bureau of Economic Research and the Cowles Commission.

Content and scope

The journal publishes a wide array of content including theoretical models, empirical analyses, and comprehensive review articles. Its scope encompasses all major sub-disciplines such as macroeconomics, microeconomics, econometrics, labor economics, international trade, and public finance. Regular features include articles, shorter papers in the "Papers and Proceedings" issue, and the "AER: Insights" section. It frequently addresses policy-relevant topics involving institutions like the International Monetary Fund, the World Bank, and the European Central Bank. The content often intersects with related fields such as political science, sociology, and psychology, particularly in areas like behavioral economics.

Editorial process and impact

The editorial process is overseen by a managing editor, a position held by notable economists like Esther Duflo, Pinelopi Koujianou Goldberg, and Robert Moffitt. Submission is typically followed by a double-blind peer review process involving experts from top universities such as Harvard University, Massachusetts Institute of Technology, and the University of Chicago. Its impact factor is among the highest in economics, and it is a cornerstone for academic promotion at institutions worldwide. The journal's influence extends to policy circles, including the United States Congress, the Bank of England, and the Organisation for Economic Co-operation and Development. Recognition through awards like the John Bates Clark Medal and the Nobel Memorial Prize in Economic Sciences is often associated with publication within its pages.

Notable articles and contributions

The journal has published numerous landmark articles that have defined economic research. Seminal contributions include Robert Solow's work on economic growth, Kenneth Arrow's analysis of social choice, and George Akerlof's "The Market for Lemons" on information asymmetry. Other influential papers have come from Paul Samuelson, James Tobin, and Amartya Sen. More recent notable work includes research by Claudia Goldin on labor market gender gaps, Daron Acemoglu on institutions and growth, and Emmanuel Saez on income inequality. These articles have often spurred extensive follow-up research in journals like the Journal of Economic Literature and the Quarterly Journal of Economics.

Related publications and influence

The American Economic Association also publishes several sister journals, including the Journal of Economic Perspectives, the Journal of Economic Literature, and the American Economic Journal series, which comprises four field-specific journals. The influence of the journal is evident in its role as a model for other prestigious publications such as Econometrica, the Review of Economic Studies, and the Journal of Finance. Its archives, available through platforms like JSTOR and EBSCO Information Services, are a fundamental resource for economic education globally. The annual American Economic Association meetings often feature sessions dedicated to discussing recent publications, further cementing its central role in the academic discourse of the profession.

Category:American Economic Association Category:Economics journals Category:Publications established in 1911