Quarterly Journal of Economics

Quarterly Journal of Economics. It is the oldest professional journal of economics in the English language and is published by Oxford University Press for the Harvard University Department of Economics. The journal is renowned for publishing theoretical and empirical research across all areas of the discipline, with a significant influence on academic thought and public policy. It consistently ranks among the most cited and impactful journals in the social sciences.

History and founding

The journal was established in 1886 at Harvard University, with its first issue published in October of that year under the founding editorship of professors Frank William Taussig and Charles Franklin Dunbar. Its creation was part of a broader movement in the late 19th century to professionalize the study of economics in the United States, following models like the Journal of the Royal Statistical Society in Britain. Early volumes featured contributions from foundational figures such as John Bates Clark, Irving Fisher, and Alfred Marshall, helping to shape the emerging neoclassical economics paradigm. Throughout the 20th century, it was edited by a succession of prominent Harvard economists, including Joseph Schumpeter, Wassily Leontief, and John Kenneth Galbraith, cementing its institutional prestige.

Editorial scope and impact

The journal publishes original research articles spanning the entire field of economics, with particular strengths in microeconomic theory, macroeconomics, and econometrics. It has been instrumental in advancing sub-fields such as development economics, labor economics, and public finance, often featuring pioneering methodological approaches. Its impact factor, as reported by the Journal Citation Reports, is among the highest for publications in the social sciences, reflecting its widespread citation in journals like the American Economic Review and Econometrica. The research it publishes frequently informs policy debates at institutions like the World Bank, the International Monetary Fund, and the Federal Reserve System.

Notable articles and contributions

Many seminal papers that have defined modern economic discourse first appeared within its pages. A landmark 1955 article by Simon Kuznets on economic growth and income inequality introduced the conceptual framework of the Kuznets curve. The 1974 publication of the Mincer equation by Jacob Mincer fundamentally shaped labor economics. In 1981, Lawrence Summers published influential work on dynamic capital taxation. More recently, groundbreaking contributions have included Claudia Goldin's research on the gender pay gap, Esther Duflo and Abhijit Banerjee's work on randomized controlled trials in development, and Emmanuel Saez's analysis of top incomes using IRS data, research often associated with the National Bureau of Economic Research.

Editorial process and policies

The editorial board is led by co-editors, a position long held by figures like Robert Barro and currently including Nathan Nunn of Harvard University. It employs a rigorous double-blind peer review process, managed through the ScholarOne manuscript system, with a historically low acceptance rate. The journal maintains strict policies on data availability and replication, requiring authors to archive data with repositories like the Inter-university Consortium for Political and Social Research. It also adheres to publishing ethics guidelines set by the Committee on Publication Ethics. Special initiatives include the annual QJE Conference, often held in collaboration with the National Bureau of Economic Research, to discuss forthcoming papers.

Related publications and influence

The journal is part of a family of leading economics publications that includes the Journal of Political Economy, the Review of Economic Studies, and the Journal of Economic Literature. It is published under the auspices of the Harvard Department of Economics and is closely associated with the activities of the National Bureau of Economic Research. Its format and editorial standards have influenced numerous other field journals, such as the Journal of Development Economics and the Journal of Public Economics. The annual compilation of its most cited articles, the "QJE Classics" series, is a standard reference in graduate programs at institutions like the Massachusetts Institute of Technology and the University of Chicago.

Category:Harvard University publications Category:Economics journals Category:Publications established in 1886