Review of Economic Studies

Review of Economic Studies The Review of Economic Studies is a leading peer-reviewed academic journal in economics established in 1933. It publishes theoretical and empirical research across fields such as macroeconomics, microeconomics, industrial organization, game theory, and labour economics. Authors and readers include scholars associated with institutions like London School of Economics, University of Cambridge, Harvard University, Princeton University, and Stanford University.

History and Development

The journal was founded in 1933 by a group of economists including figures connected to University of Oxford, LSE, and University College London during a period influenced by debates following the Great Depression and policy responses such as the New Deal. Early contributors included scholars with links to Keynesianism, Walrasian traditions and contemporaries of John Maynard Keynes, Arthur Pigou, and Lionel Robbins. Throughout the mid-20th century the journal reflected methodological shifts associated with scholars from Cowles Commission, MIT, and Chicago School circles, intersecting with literature from Paul Samuelson, Milton Friedman, Kenneth Arrow, and Gérard Debreu. In later decades it absorbed advances stemming from work at RAND Corporation, NBER, CEPR, and research programs associated with Robert Lucas Jr. and James Heckman. The journal's evolution paralleled institutional developments at Oxford University Press and collaborations with societies tied to British Academy and international conferences such as meetings of the American Economic Association and European Economic Association.

Editorial Policy and Peer Review Process

The journal operates under an editorial model influenced by practices at major outlets like Econometrica, American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics. Submissions undergo initial desk assessment by editors affiliated with institutions such as Cambridge, LSE, Yale University, and Columbia University; selected manuscripts proceed to anonymous peer review. Reviewers are typically drawn from networks including scholars associated with Institute for Advanced Study, Stanford, Harvard, Princeton, and discipline-specific groups like CEPR and IZA. The process emphasizes originality, technical rigor, and contribution relative to landmark works such as those by Arrow, Debreu, Samuelson, Tirole, and Maskin. Decisions may include revise-and-resubmit rounds informed by referee reports and editorial guidance consistent with standards at journals like Review of Economic Studies's peers, balancing theoretical modeling, empirical identification, and robustness checks referencing methods developed at Cowles Commission and practice from NBER.

Influence and Impact on Economics

The journal has published influential papers that shaped subfields tied to scholars from Harvard, MIT, Chicago, and Princeton. Contributions appearing in the journal have informed research trajectories connected to general equilibrium theory, search and matching theory, mechanism design, and contract theory associated with Nobel laureates such as Leonid Hurwicz, Eric Maskin, and Roger Myerson. Works in the journal have been cited alongside canonical papers in Econometrica, Journal of Political Economy, and American Economic Review, influencing policy debates that intersect with institutions like the International Monetary Fund, World Bank, and national central banks exemplified by Bank of England and Federal Reserve System. Citation metrics often place the journal among top outlets in lists compiled by organizations such as RePEc and committees at European University Institute.

Notable Articles and Special Issues

The journal has featured landmark articles connected to methodologies and topics advanced by figures such as Kenneth Arrow, Robert Aumann, Thomas Sargent, John Nash, Eric Maskin, Dale T. Mortensen, and Christopher Pissarides. Special issues and symposia have centered on themes like search theory developments following work from Mortensen and Pissarides, advances in game theory traced to Nash and Aumann, and empirical identification strategies aligned with contributions from Angrist and Imbens. Periodic collections have responded to major events including analyses of the Great Recession, the aftermath of the 2008 financial crisis, and long-run growth debates influenced by scholars at World Bank and IMF research departments. The journal has also published influential methodological papers that interacted with tools from instrumental variables literature associated with Angrist and techniques developed at Cowles Commission.

Editorial Board and Notable Editors

Editorial leadership has included economists affiliated with LSE, Oxford, Cambridge, Harvard, and Princeton. Past and present editors and associate editors have had connections to departments and institutes such as NBER, CEPR, IZA, Cowles Foundation, and research centers at Stanford and MIT. Notable editors' intellectual networks extend to scholars like James Mirrlees, Amartya Sen, Oliver Hart, Jean Tirole, and Joseph Stiglitz, reflecting the journal's role in bridging theoretical and empirical research communities. The editorial board often recruits referees and editors drawn from graduate programs at LSE, Harvard, MIT, Princeton, Stanford, and Yale.

Category:Academic journals