Academic Economists Research Articles

Who influences whom? Central bankers and academics in the 2008 crisis

Who influenced whom during the 2008 crisis? Did academic economists shape central bankers’ attitudes towards fiscal policy, or did central bankers impose their agenda? In an attempt to answer these questions, we analyse established attitudes and yearly topics found in speeches by bankers from six central banks and in working papers published by academic economists. Methodologically, both attitudes and topics are reconstructed through textual analysis. The results show that context matters.

The Gender Gini: Measuring Job Tenure Among Academic Economists

The Gender Gini: Measuring Job Tenure Among Academic Economists

Whither “African Economics” Imaginaries? Eleven Precepts on Its (Im)possibility

Africa has historically occupied, and remains almost fixed at, the fringes of global knowledge production. Its battle to recover itself amid the stacks of epistemic injustices heaped on it, especially by its encounters with slavery and colonialism, rages on. Despite this grim picture, this article shows that, more recently, African Psychology has somewhat claimed its rightful place as an academic field within some leading universities in Africa. The absence of a deliberate and active disciplinary push or sustained contestations in economics on the continent is the key lacuna spotlighted in this article. However, I recognise that deciding whether African Economics is necessary must involve the mobilisation of the grit and talents of all academic economists on the continent as well as other geographies. This notwithstanding, and to foreshadow likelihoods, I imagine via this article what an erstwhile elusive African Economics might comprise. I do this by outlining and discussing eleven precepts that might serve as pointers to herald it. These precepts have multifarious implications for training and research in economics, especially in African universities, which are briskly expounded.

Moving in Academia: Who Moves and What Happens After?

We study labor mobility among academic economists in the United States. Analyzing CV data from over 6,000 economists at Research 1 institutions, we document that female assistant and associate professors are 8 percentage points less likely to move with promotion than their male counterparts. Women are also more likely than men to relocate to lower-ranked institutions. Event study graphs reveal that men working in departments that receive a new faculty member see their publication output increase by more than twice as much as that of women in these departments. Our findings highlight significant gender differences in who moves and what happens after.

Political Language in Economics

Abstract Does academic writing in economics reflect the political orientation of economists? We use machine learning to measure partisanship in academic economics articles. We predict the observed political behaviour of a subset of economists using phrases from their academic articles, show good out-of-sample predictive accuracy and then predict partisanship for all economists. We then use these predictions to examine patterns of political language in economics. We estimate journal-specific effects on predicted ideology, controlling for author and year fixed effects, that accord with existing survey-based measures. We show considerable sorting of economists into fields of research by predicted partisanship. We also show that partisanship is detectable even within fields, even across those estimating the same theoretical parameter. Using policy-relevant parameters collected from previous meta-analyses, we then show that imputed partisanship is correlated with estimated parameters, such that the implied policy prescription is consistent with partisan leaning. For example, we find that going from the most left-wing authored estimate of the taxable top income elasticity to the most right-wing authored estimate decreases the optimal tax rate from 77% to 60%.

From hands off to hands on: the evolution of Bahrain's industrial policy during the 21st century

PurposeThis paper aims to address two fundamental questions: (1) How has Bahrain's industrial policy evolved during the 21st century? and (2) what factors contribute to this evolution?Design/methodology/approachUtilizing secondary data, this paper identifies key decision-makers responsible for economic policy in Bahrain and delineates the evolution of Bahrain's industrial policy throughout the 21st century. Subsequently, it employs a series of interviews with elite civil servants engaged in the formulation and implementation of Bahrain's economic policies to understand the reasons behind the observed changes.FindingsSince assuming the role of Crown Prince in 1999, Sh. Salman bin Hamad Al Khalifa has been the key economic decision-maker in Bahrain. During the 21st century, Bahrain has shifted away from decisions closely aligned with the Washington Consensus towards those more in line with classical industrial policy. Interviews reveal that the private sector's underperformance in job creation, coupled with fiscal pressures, has driven this departure from the Washington Consensus. Moreover, the early successes of the interventionist Saudi Vision 2030 and Bahrain's own success in technocratically managing the COVID-19 pandemic have accelerated this transition.Practical implicationsInsights into the determinants of Bahrain's industrial policy can guide policymakers in refining future strategies. Recognizing the positive role of intellectual developments in academic economics literature becomes crucial for informed decision-making.Originality/valueThis paper fills a gap in the existing literature by providing answers to its research questions, particularly considering the significant changes witnessed in Bahrain's industrial policy post-pandemic.

A Citations-Based Ranking of Black Economists in Academe

It has been more than 20 years since a study of the research productivity or impact of Black economists has appeared in the economics literature. This study revisits the subject, and in the process combines methodological features from each of the two prior studies. In addition to a ranking of the top 200 Black academic economists in the United States, we also examine other aspects of the data, such as the prevalence of clinical faculty and female professors.

The Changing Fortunes of the Economic Society of Australia over the Twentieth Century

As it nears its centenary in 2025, the Economic Society of Australia finds itself not as comfortably ensconced as its overseas counterparts. Established to promote economics education, the Society was, in its formative years, largely run by university economists and business identities. As a professional grouping, the Society appealed to economists from all walks of life and commanded that status until at least the 1980s. One of the challenges facing the Society was the readability of the Society’s flagship, the Economic Record, for its membership. Another challenge was whether the Society took a proportionate share of the large numbers studying economics at university. Today the internationalisation of the academic economics profession poses a significant challenge to the Society.

Новое качество российской экономики: стратегия и тактика

In 2024, Russia is entering a new electoral cycle, which involves both the formation of new development goals and certain shifts in economic policy. The new Presidential Decree on national development goals sets the general framework for the country's development for the next six years. It contains about 70 development goals, most of which are quantitative, which forms a new framework for both making management decisions and monitoring their implementation. The Russian expert community and academic economics should provide analytical support for decision-making on the implementation of national development goals. The most difficult and in-demand task is scientific and technological forecasting, which combines an understanding of the essence of a number of scientific solutions and an assessment of the economic efficiency of their implementation. There is a direct link between technological shifts and the level of labor productivity, which is the most important response to the challenges associated with changes in the labor market. The issues of structural imbalances of supply and demand and the impact of tax innovations on them are also the place where the intellectual efforts of the expert community and the Russian economic academic science are applied.

“Green bonds” as a key instrument for sustainable investment and eco-innovation

The article analyses the peculiarities of using green bonds as one of the effective tools for maintaining environmental sustainability, stresses the need for further development of innovative financial instruments to support sustainable development goals. The author notes the opinion of leading academic economists on the necessity and usefulness of introducing green finance instruments. The article analysed the key aspects of green bonds, their role in the modern economy, as well as the factors affecting their effectiveness and demand in the market. The author also reviewed the main standards that establish criteria for classifying projects as sustainable development projects, certification mechanisms, and requirements for issuing green securities. The author emphasised the need for further research in the field of green finance, as current research is insufficient to provide a clear picture of the implementation of the mechanism of issue and circulation of green finance instruments.

Problems of legal regulation of platform employment in the Republic of Kazakhstan

The article discusses the problems of legal regulation of platform employment in the Republic of Kazakhstan. Since platform employment in the country is in its infancy, not only the issues of interaction between the platform and all persons who participate in its activities remain unresolved, but also the issues of adapting labor relations to the realities of the digital economy. Having analyzed the acts of international organizations, and the works of academic economists and lawyers, the authors conclude that the new norms of the Social and Labor Codes do not sufficiently consider the existing relations in platform employment and groundlessly establish the priority of civil legislation. It is noted that the legal relations that develop in this case have characteristics of both labor and civil law. The experience of some countries that have managed to secure the status of workers within the framework of labor law for platform workers is also presented. It is also concluded that at present there is a need to adapt labor relations to the realities of the digital economy, to also legislate the concepts of “employee”, “employer”, and “labor relations” to prevent the infringement of the labor rights of platform workers.

Проблемы правового регулирования платформенной занятости в Республике Казахстан

The article discusses the problems of legal regulation of platform employment in the Republic of Kazakhstan. Since platform employment in the country is in its infancy, not only the issues of interaction between the platform and all persons who participate in its activities remain unresolved, but also the issues of adapting labor relations to the realities of the digital economy. Having analyzed the acts of international organizations, and the works of academic economists and lawyers, the authors conclude that the new norms of the Social and Labor Codes do not sufficiently consider the existing relations in platform employment and groundlessly establish the priority of civil legislation. It is noted that the legal relations that develop in this case have characteristics of both labor and civil law. The experience of some countries that have managed to secure the status of workers within the framework of labor law for platform workers is also presented. It is also concluded that at present there is a need to adapt labor relations to the realities of the digital economy, to also legislate the concepts of “employee”, “employer”, and “labor relations” to prevent the infringement of the labor rights of platform workers

Additional evidence on gender and language in academic economics research

Additional evidence on gender and language in academic economics research

Economists are not engaged enough with the IPCC

The representation of Economics in IPCC Assessment Reports (ARs) has evolved over time and is currently declining. This is especially noticeable in Working Group 2 (WGII), where economists were never very well represented. It is also noticeable that the economists who have participated in the writing of the recent ARs are typically not employed in traditional academic economics departments and are therefore not operating in the mainstream of the profession. Economic research can contribute a lot to overcoming the complex challenges posed by climate change, and therefore it is worthwhile to assess why economists are not more heavily involved. This is both a supply problem (not many economists focus on climate change) and a demand problem (the IPCC does not seem to want more economists). Here, we first try to argue that economists should be part of the IPCC. We then digress to look at what economic research looks like, and therefore why economists are not that interested in contributing meaningfully to the research on climate change. We also briefly discuss why the IPCC seems not to welcome economists, and why we think the future may be looking brighter for this needed collaboration between economics and the IPCC.

TOUCHES TO THE INTELLECTUAL BIOGRAPHY OF ACADEMICIAN OF THE USSR ACADEMY OF SCIENCES A.N. EFIMOV: THE URAL START

Intellectual history is a special area of research that involves combining the history of ideas with an analysis of the external environment that led to the emergence, institutionalization and dissemination of certain views. The purpose of the article is to clarify certain nuances of the institutional design of academic economics in the Urals through the features of the early stages of the intellectual biography of the famous Soviet economist, academician of the USSR Academy of Sciences Anatoly Nikolaevich Efimov. To achieve this goal, the study used not only the author's publications of A.N. Efimov himself, but also archival materials concentrated in funds No. 1 and 17 of the Department of Funds and Information Services of the Central Scientific Library of the Ural Branch of the Russian Academy of Sciences. Thus, the hypothesis about the conditionality of the appearance of relevant theories or concepts in the context of the life path of their authors is confirmed.

Social determinants of citations: An empirical analysis of UK economists

AbstractWe investigate to what extent personal proximity and similarity in professional and political attributes, besides scientific factors, help explaining citations between economists. We do so by using a unique dataset of all academic economists based in the United Kingdom, created specifically for this study by merging RePEc data on works published in the past four decades with information collected by manually processing their curriculum vitae (CVs). We investigate directed citations within each pair of authors active in a same year, finding that social factors play an important role as predictors of citations. An author is systematically more likely to cite another economist not only if they work on similar topics, but most relevantly if they have been co‐authors, faculty colleagues, alumni of the same Alma Mater, and even if they express similar political views. The implication is that citations do not signal the intrinsic quality of research outputs only, but they also capture social and professional connections. When citation counts are used to reward academics, economists have an incentive to join many and large professional communities as doing so would increase their predicted citations.

Academic profile of Chinese economists: Productivity, pay, time use, gender differences, and impacts of COVID-19

Using two waves of surveys (2019 and 2021) among Chinese economists with support from the Chinese Economists Society (CES), we capture a current profile of Chinese academic economists on their demographics, education, academic rank, wage, time use, research interests, and productivity. Our data reveal many similarities among those employed in China and overseas, with statistically significant differences in pay and teaching load. More profound disparities lie in gender comparisons, with findings echoing the recent trend in the overall economics profession, including career advancement challenges for women and lower pay for female economists, among others. Finally, this paper investigates the impact of the COVID-19 pandemic on Chinese economists. Comparing their time allocation with that before the pandemic suggests male economists with children were able to spend slightly more time per workday on research and leisure during the pandemic. On the contrary, female economists with children reduced time for research to cope with the increased demand for childcare.

The renaissance of ordoliberalism in the 1970s and 1980s*

AbstractThe economic tradition of ordoliberalism, understood as the theoretical and policy ideas of the Freiburg School, emerged in 1930s and 1940s Germany. In the years thereafter, it was quickly superseded by Keynesianism and other theories imported from the English-speaking world. The crisis in Keynesian economics in the mid-1970s led to what has been described as a “renaissance of ordoliberal reasoning” (Gebhard Kirchgässner) during the late 1970s and the 1980s. The present paper describes this development in detail and shows how it affected the academic discourse and, more indirectly, policymaking. In academic economics, ordoliberal concepts were used to inform debates about pressing issues of the day such as unemployment, social security reform, competition policy, the provision of public goods, and European integration. There was, however, no consensus on the methodological question of whether ordoliberalism could be fully integrated into international research programs such as the new institutional economics or constitutional economics. The paper argues that the renaissance of ordoliberalism failed to have a lasting impact on German academic economics and discusses possible implications of this finding for the future of the ordoliberal research agenda.

Education as an investment in the development of countries’ economies

The research topic is relevant due to the fact that the education system belongs to one of the main and important areas of sustainable development and improvement of countries. The purpose of the research topic is to reflect the role and attraction of investment in education as one of the main factors of sustainable economic growth and development, both of individual enterprises and society as a whole. The article reflects the importance and value of obtaining highquality education of the population at all levels of education. In the process of conducting research, it was revealed and noted that in order to improve the quality of education, it is necessary to attract investments in the form of investments. During the research, various methods and techniques were used, the main of which are: analysis and synthesis, deduction and induction, economic and statistical analysis, etc. The research materials of the scientific research were statistical data of the Eurasian Economic Union 2017–2021. According to the results of the research, the main ways of increasing the level of education, which has an impact on improving the quality of human capital: the formation of a single labor market in the Eurasian space, attracting investment in education, which will contribute to the growth of qualified and competitive personnel. Despite the fact that the issues of attracting investment in education as a basis for economic development are considered in the works of many academic economists, this problem is still relevant.

A Case for Design and Speculative Economics: Leveraging Interdisciplinary Pressure to Disrupt Economic Orthodoxy

This article provides historical context for the current state of discourse in academic economics and an assessment of disparate and viable heterodox economic methodologies to support a proposal for establishing the disciplines of design economics and speculative economics. Coherent, modern, and viable academic challenges to economic orthodoxy exist but are largely ignored by departments of economics. This proposal addresses the disconnect between economics and the rest of academia with a collaborative and interdisciplinary effort based on three tenets. Borrowing from established foresight methods design economics and speculative economics create a framework from which economics can evolve to embrace paradigm change.