Economists, Incentives, Judgement and Empirical Work
This paper asks the question: Why has the “general-to-specific” cointegrated VAR approach as developed in Europe had only limited success in the US as a tool for doing empirical macroeconomics, where what might be called a “theory comes first” approach dominates? The reason this paper highlights is the incompatibility of the European approach with the US focus on the journal publication metric for advancement. Specifically, the European “general-to specific” cointegrated VAR approach requires researcher judgment to be part of the analysis, and the US focus on a journal publication metric discourages such research methods. The US “theory comes first” approach fits much better with the journal publication metric.
|Date of creation:||Jun 2008|
|Date of revision:|
|Contact details of provider:|| |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Colander, David, 1989. "Research on the Economics Profession," Journal of Economic Perspectives, American Economic Association, vol. 3(4), pages 137-48, Fall.
- Julia Campos & Neil R. Ericsson & David F. Hendry, 2005. "General-to-specific modeling: an overview and selected bibliography," International Finance Discussion Papers 838, Board of Governors of the Federal Reserve System (U.S.).
- Leamer, Edward E, 1983.
"Let's Take the Con Out of Econometrics,"
American Economic Review,
American Economic Association, vol. 73(1), pages 31-43, March.
- Dewald, William G & Thursby, Jerry G & Anderson, Richard G, 1986. "Replication in Empirical Economics: The Journal of Money, Credit and Banking Project," American Economic Review, American Economic Association, vol. 76(4), pages 587-603, September.
- Peter Ireland, 1999.
"A Method for Taking Models to the Data,"
Computing in Economics and Finance 1999
1233, Society for Computational Economics.
- Peter Ireland, 1999. "Matlab code for A Method for Taking Models to the Data," QM&RBC Codes 46, Quantitative Macroeconomics & Real Business Cycles.
- Peter N. Ireland, 1999. "A Method for Taking Models to the Data," Boston College Working Papers in Economics 421, Boston College Department of Economics.
- Peter N. Ireland, 1999. "A method for taking models to the data," Working Paper 9903, Federal Reserve Bank of Cleveland.
- Sauer, Raymond D, 1988. "Estimates of the Returns to Quality and Coauthorship in Economic Academia," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 855-66, August.
- Terry Plum & David Colander, 2004. "Efficiency, Journal Publishing and Scholarly Research - A Discussion Paper," Middlebury College Working Paper Series 0414, Middlebury College, Department of Economics.
- Kirman, Alan & Dahl, Mogens, 1994. "Economic research in Europe," European Economic Review, Elsevier, vol. 38(3-4), pages 505-522, April.
- Colander, David & Klamer, Arjo, 1987.
"The Making of an Economist,"
Journal of Economic Perspectives,
American Economic Association, vol. 1(2), pages 95-111, Fall.
- Deirdre N. McCloskey & Stephen T. Ziliak, 1996. "The Standard Error of Regressions," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 97-114, March.
- Cooley, Thomas F & LeRoy, Stephen F, 1981. "Identification and Estimation of Money Demand," American Economic Review, American Economic Association, vol. 71(5), pages 825-44, December.
- Colander,David C. & Coats,Alfred William (ed.), 1989. "The Spread of Economic Ideas," Cambridge Books, Cambridge University Press, number 9780521362337, December.
- Arthur M. Diamond Jr., 1986. "What is a Citation Worth?," Journal of Human Resources, University of Wisconsin Press, vol. 21(2), pages 200-215.
- Bruno S. Frey & Reiner Eichenberger, 1993. "American and European Economics and Economists," Journal of Economic Perspectives, American Economic Association, vol. 7(4), pages 185-193, Fall.
When requesting a correction, please mention this item's handle: RePEc:mdl:mdlpap:0806. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vijaya Wunnava)
If references are entirely missing, you can add them using this form.