IDEAS home Printed from https://ideas.repec.org/p/arx/papers/2508.09079.html
   My bibliography  Save this paper

The shape of economics before and after the financial crisis

Author

Listed:
  • Alberto Baccini
  • Lucio Barabesi
  • Carlo Debernardi

Abstract

This paper investigates the impact of the global financial crisis on the shape of economics as a discipline by analyzing EconLit-indexed journals from 2006 to 2020 using a multilayer network approach. We consider two types of social relationships among journals, based on shared editors (interlocking editorship) and shared authors (interlocking authorship), as well as two forms of intellectual proximity, derived from bibliographic coupling and textual similarity. These four dimensions are integrated using Similarity Network Fusion to produce a unified similarity network from which journal communities are identified. Comparing the field in 2006, 2012, and 2019 reveals a high degree of structural continuity. Our findings suggest that, despite changes in research topics after the crisis, fundamental social and intellectual relationships among journals have remained remarkably stable. Editorial networks, in particular, continue to shape hierarchies and legitimize knowledge production.

Suggested Citation

  • Alberto Baccini & Lucio Barabesi & Carlo Debernardi, 2025. "The shape of economics before and after the financial crisis," Papers 2508.09079, arXiv.org.
  • Handle: RePEc:arx:papers:2508.09079
    as

    Download full text from publisher

    File URL: http://arxiv.org/pdf/2508.09079
    File Function: Latest version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ricardo J. Caballero, 2010. "Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome," Journal of Economic Perspectives, American Economic Association, vol. 24(4), pages 85-102, Fall.
    2. Christiane Heisse, 2025. "Whither economics imperialism? Debating Ambrosino, Cedrini and Davis," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 32(1), pages 136-156, January.
    3. Kosnik, Lea-Rachel, 2015. "What have economists been doing for the last 50 years? A text analysis of published academic research from 1960-2010," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 9, pages 1-38.
    4. James J. Heckman & Sidharth Moktan, 2020. "Publishing and promotion in economics - The tyranny of the Top Five," Vox eBook Chapters, in: Sebastian Galliani & Ugo Panizza (ed.), Publishing and Measuring Success in Economics, edition 1, volume 1, chapter 1, pages 23-32, Centre for Economic Policy Research.
    5. Josh Angrist & Pierre Azoulay & Glenn Ellison & Ryan Hill & Susan Feng Lu, 2020. "Inside Job or Deep Impact? Extramural Citations and the Influence of Economic Scholarship," Journal of Economic Literature, American Economic Association, vol. 58(1), pages 3-52, March.
    6. Baccini, Federica & Barabesi, Lucio & Baccini, Alberto & Khelfaoui, Mahdi & Gingras, Yves, 2022. "Similarity network fusion for scholarly journals," Journal of Informetrics, Elsevier, vol. 16(1).
    7. Mario Cedrini & Magda Fontana, 2018. "Just another niche in the wall? How specialization is changing the face of mainstream economics [Multidisciplinarity, interdisciplinarity, transdisciplinarity, and the sciences]," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 42(2), pages 427-451.
    8. Angela Ambrosino & Mario Cedrini & John B. Davis, 2025. "Economics Imperialism and Economic Imperialism: Two Sides of the Same Coin," Review of Political Economy, Taylor & Francis Journals, vol. 37(1), pages 245-263, January.
    9. Alexandre Truc & Olivier Santerre & Yves Gingras & François Claveau, 2023. "The interdisciplinarity of economics," Post-Print hal-04719259, HAL.
    10. François Claveau & Yves Gingras, 2016. "Macrodynamics of Economics: A Bibliometric History," History of Political Economy, Duke University Press, vol. 48(4), pages 551-592, December.
    11. Alexandre Truc & François Claveau & Olivier Santerre, 2021. "Economic methodology: a bibliometric perspective," Journal of Economic Methodology, Taylor & Francis Journals, vol. 28(1), pages 67-78, January.
    12. Angela Ambrosino & Mario Cedrini & John B. Davis & Stefano Fiori & Marco Guerzoni & Massimiliano Nuccio, 2018. "What topic modeling could reveal about the evolution of economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 25(4), pages 329-348, October.
    13. Hodgson, Geoffrey M & Rothman, Harry, 1999. "The Editors and Authors of Economics Journals: A Case of Institutional Oligopoly?," Economic Journal, Royal Economic Society, vol. 109(453), pages 165-186, February.
    14. Mario Coccia, 2020. "The evolution of scientific disciplines in applied sciences: dynamics and empirical properties of experimental physics," Scientometrics, Springer;Akadémiai Kiadó, vol. 124(1), pages 451-487, July.
    15. Alberto Baccini & Martina Cioni & Muriel Dal Pont Legrand & Eugenio Petrovich, 2025. "Does cross‐fertilization occur in recent macroeconomics? A quantitative exploration of the interactions between DSGE and MAB models," Journal of Economic Surveys, Wiley Blackwell, vol. 39(4), pages 1758-1794, September.
    16. Frederic S. Lee & Xuan Pham & Gyun Gu, 2013. "The UK Research Assessment Exercise and the narrowing of UK economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 37(4), pages 693-717.
    17. Pedro Garcia Duarte, 2012. "Not Going Away? Microfoundations in the Making of a New Consensus in Macroeconomics," Chapters, in: Microfoundations Reconsidered, chapter 6, Edward Elgar Publishing.
    18. repec:hal:spmain:info:hdl:2441/67ft27s7u58ocangahl1jigu6p is not listed on IDEAS
    19. M. Fourcade & E. Ollion & Y. Algan, 2015. "The Superiority of Economists," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 7.
    20. Corsi, Marcella & D’Ippoliti, Carlo & Zacchia, Giulia, 2019. "Diversity of backgrounds and ideas: The case of research evaluation in economics," Research Policy, Elsevier, vol. 48(9), pages 1-1.
    21. Alberto Baccini & Cristina Re, 2023. "Who are the gatekeepers of economics? Geographic diversity, gender composition, and interlocking editorship of journal boards," Papers 2304.04242, arXiv.org, revised Jan 2024.
    22. Michael Gusenbauer, 2022. "Search where you will find most: Comparing the disciplinary coverage of 56 bibliographic databases," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(5), pages 2683-2745, May.
    23. Levy, Daniel & Mayer, Tamir & Raviv, Alon, 2022. "Economists in the 2008 financial crisis: Slow to see, fast to act," Journal of Financial Stability, Elsevier, vol. 60(C).
    24. Olivier Blanchard, 2018. "On the future of macroeconomic models," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 34(1-2), pages 43-54.
    25. repec:spo:wpmain:info:hdl:2441/67ft27s7u58ocangahl1jigu6p is not listed on IDEAS
    26. Alberto Baccini, 2009. "Italian Economic Journals. A Network-based Ranking and an Exploratory Analysis of their Influence on Setting International Professional Standards," Rivista italiana degli economisti, Società editrice il Mulino, issue 3, pages 491-512.
    27. Marion Fourcade & Etienne Ollion & Yann Algan, 2015. "La superioridad de los economistas," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 17(33), pages 13-43, July-Dece.
    28. M. Fourcade & E. Ollion & Y. Algan., 2015. "The Superiority of Economists," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 7.
    29. Edward P. Lazear, 2000. "Economic Imperialism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(1), pages 99-146.
    30. Alberto Baccini & Lucio Barabesi, 2010. "Interlocking editorship. A network analysis of the links between economic journals," Scientometrics, Springer;Akadémiai Kiadó, vol. 82(2), pages 365-389, February.
    31. Zimmerman, Aleksandra B. & Fogarty, Timothy J. & Jonas, Gregory A., 2017. "Is accounting an applied discipline? An institutional theory assessment of the value of faculty accounting-related work experience in the academic labor market," Journal of Accounting Education, Elsevier, vol. 41(C), pages 33-47.
    32. Elisabetta Addis & Paola Villa, 2003. "The Editorial Boards of Italian Economics Journals: Women, Gender, and Social Networking," Feminist Economics, Taylor & Francis Journals, vol. 9(1), pages 75-91.
    33. Samuel Bowles & Wendy Carlin, 2020. "What Students Learn in Economics 101: Time for a Change," Journal of Economic Literature, American Economic Association, vol. 58(1), pages 176-214, March.
    34. Bowles, Samuel & Carlin, Wendy & Subramanyam, Sahana, 2025. "Civil society comes of age in economics: Tracking a century of research," Economics Letters, Elsevier, vol. 246(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lorenzo Ductor & Bauke Visser, 2023. "Concentration of power at the editorial boards of economics journals," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 189-238, April.
    2. John Gibson, 2021. "The micro‐geography of academic research: How distinctive is economics?," Scottish Journal of Political Economy, Scottish Economic Society, vol. 68(4), pages 467-484, September.
    3. Johansson, Dan & Karlsson, Johan & Malm, Arvid, 2020. "Family business—A missing link in economics?," Journal of Family Business Strategy, Elsevier, vol. 11(1).
    4. Abramo, Giovanni & D'Angelo, Ciriaco Andrea, 2025. "Inter- and intra-domain knowledge flows: Examining their relationship with impact at the field level over time," Journal of Informetrics, Elsevier, vol. 19(1).
    5. Martina Cioni & Giovanni Federico & Michelangelo Vasta, 2023. "Is economic history changing its nature? Evidence from top journals," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 17(1), pages 23-48, January.
    6. Carlo D'Ippoliti & Lucio Gobbi & Christian A. Mongeau Ospina & Giulia Zacchia, 2023. "Social determinants of citations: An empirical analysis of UK economists," Kyklos, Wiley Blackwell, vol. 76(4), pages 827-858, November.
    7. Angela Ambrosino & Mario Cedrini & John B. Davis, 2024. "Today’s economics: one, no one and one hundred thousand," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 31(1), pages 59-76, January.
    8. Matthias Aistleitner & Jakob Kapeller & Stefan Steinerberger, 2018. "Citation Patterns in Economics and Beyond," Working Papers Series 85, Institute for New Economic Thinking.
    9. Alberto Baccini & Federica Baccini & Lucio Barabesi & Martina Cioni & Eugenio Petrovich & Daria Pignalosa, 2024. "Fine-grained classification of journal articles based on multiple layers of information through similarity network fusion: The case of the Cambridge Journal of Economics," Scientometrics, Springer;Akadémiai Kiadó, vol. 129(1), pages 373-400, January.
    10. Schmal, W. Benedikt & Haucap, Justus & Knoke, Leon, 2023. "The role of gender and coauthors in academic publication behavior," Research Policy, Elsevier, vol. 52(10).
    11. Levy, Daniel & Mayer, Tamir & Raviv, Alon, 2022. "Economists in the 2008 financial crisis: Slow to see, fast to act," Journal of Financial Stability, Elsevier, vol. 60(C).
    12. Matthias Aistleitner & Stephan Puehringer, 2023. "Biased Trade Narratives and Its Influence on Development Studies: A Multi-level Mixed-Method Approach," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 35(6), pages 1322-1346, December.
    13. Carlo D'Ippoliti, 2021. "“Many‐Citedness”: Citations Measure More Than Just Scientific Quality," Journal of Economic Surveys, Wiley Blackwell, vol. 35(5), pages 1271-1301, December.
    14. Ernest Aigner & Florentin Gloetzl & Matthias Aistleitner & Jakob Kapeller, 2018. "The focus of academic economics: before and after the crisis," ICAE Working Papers 75, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    15. Mitra, Sophie & Palmer, Michael & Vuong, Vu, 2020. "Development and interdisciplinarity: A citation analysis," World Development, Elsevier, vol. 135(C).
    16. Arne HEISE, 2016. "‘Why has economics turned out this way?’ A socio-economic note on the explanation of monism in economics," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 10(1), pages 81-101, November.
    17. Ductor, Lorenzo & Visser, Bauke, 2022. "When a coauthor joins an editorial board," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 576-595.
    18. Ali Sina Önder & Sergey V. Popov & Sascha Schweitzer, 2021. "Leadership in Scholarship: Editors’ Appointments and the Profession’s Narrative," Working Papers in Economics & Finance 2021-05, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
    19. Dieter Bögenhold, 2020. "History of Economic Thought as an Analytic Tool: why Past Intellectual Ideas Must Be Acknowledged as Lighthouses for the Future," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 26(1), pages 73-87, February.
    20. Corsi, Marcella & D’Ippoliti, Carlo & Zacchia, Giulia, 2019. "Diversity of backgrounds and ideas: The case of research evaluation in economics," Research Policy, Elsevier, vol. 48(9), pages 1-1.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arx:papers:2508.09079. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: arXiv administrators (email available below). General contact details of provider: http://arxiv.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.