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• M52 - Compensation and Compensation Methods and Their Effects
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• O12 - Microeconomic Analyses of Economic Development
• O13 - Agriculture; Natural Resources; Energy; Environment; Other Primary Products
• O14 - Industrialization; Manufacturing and Service Industries; Choice of Technology
• O15 - Human Resources; Human Development; Income Distribution; Migration
• O16 - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
• O17 - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
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• Q11 - Aggregate Supply and Demand Analysis; Prices
• Q13 - Agricultural Markets and Marketing; Cooperatives; Agribusiness
• Q15 - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
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• Q18 - Agricultural Policy; Food Policy
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• Q32 - Exhaustible Resources and Economic Development
• Q33 - Resource Booms
• Q34 - Natural Resources and Domestic and International Conflicts
• Q38 - Government Policy
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• Q40 - General
• Q41 - Demand and Supply; Prices
• Q42 - Alternative Energy Sources
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• Q50 - General
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• Q52 - Pollution Control Adoption Costs; Distributional Effects; Employment Effects
• Q53 - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
• Q54 - Climate; Natural Disasters; Global Warming
• Q56 - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
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Methods Used in Economic Research: An Empirical Study of Trends and Levels

The methods used in economic research are analyzed on a sample of all 3,415 regular research papers published in 10 general interest journals every 5th year from 1997 to 2017. The papers are classified into three main groups by method: theory, experiments, and empirics. The theory and empirics groups are almost equally large. Most empiric papers use the classical method, which derives an operational model from theory and runs regressions. The number of papers published increases by 3.3% p.a. Two trends are highly significant: The fraction of theoretical papers has fallen by 26 pp (percentage points), while the fraction of papers using the classical method has increased by 15 pp. Economic theory predicts that such papers exaggerate, and the papers that have been analyzed by meta-analysis confirm the prediction. It is discussed if other methods have smaller problems.

1 Introduction

This paper studies the pattern in the research methods in economics by a sample of 3,415 regular papers published in the years 1997, 2002, 2007, 2012, and 2017 in 10 journals. The analysis builds on the beliefs that truth exists, but it is difficult to find, and that all the methods listed in the next paragraph have problems as discussed in Sections 2 and 4. Hereby I do not imply that all – or even most – papers have these problems, but we rarely know how serious it is when we read a paper. A key aspect of the problem is that a “perfect” study is very demanding and requires far too much space to report, especially if the paper looks for usable results. Thus, each paper is just one look at an aspect of the problem analyzed. Only when many studies using different methods reach a joint finding, we can trust that it is true.

Section 2 discusses the classification of papers by method into three main categories: (M1) Theory , with three subgroups: (M1.1) economic theory, (M1.2) statistical methods, and (M1.3) surveys. (M2) Experiments , with two subgroups: (M2.1) lab experiments and (M2.2) natural experiments. (M3) Empirics , with three subgroups: (M3.1) descriptive, (M3.2) classical empirics, and (M3.3) newer empirics. More than 90% of the papers are easy to classify, but a stochastic element enters in the classification of the rest. Thus, the study has some – hopefully random – measurement errors.

Section 3 discusses the sample of journals chosen. The choice has been limited by the following main criteria: It should be good journals below the top ten A-journals, i.e., my article covers B-journals, which are the journals where most research economists publish. It should be general interest journals, and the journals should be so different that it is likely that patterns that generalize across these journals apply to more (most?) journals. The Appendix gives some crude counts of researchers, departments, and journals. It assesses that there are about 150 B-level journals, but less than half meet the criteria, so I have selected about 15% of the possible ones. This is the most problematic element in the study. If the reader accepts my choice, the paper tells an interesting story about economic research.

All B-level journals try hard to have a serious refereeing process. If our selection is representative, the 150 journals have increased the annual number of papers published from about 7,500 in 1997 to about 14,000 papers in 2017, giving about 200,000 papers for the period. Thus, the B-level dominates our science. Our sample is about 6% for the years covered, but less than 2% of all papers published in B-journals in the period. However, it is a larger fraction of the papers in general interest journals.

It is impossible for anyone to read more than a small fraction of this flood of papers. Consequently, researchers compete for space in journals and for attention from the readers, as measured in the form of citations. It should be uncontroversial that papers that hold a clear message are easier to publish and get more citations. Thus, an element of sales promotion may enter papers in the form of exaggeration , which is a joint problem for all eight methods. This is in accordance with economic theory that predicts that rational researchers report exaggerated results; see Paldam ( 2016 , 2018 ). For empirical papers, meta-methods exist to summarize the results from many papers, notably papers using regressions. Section 4.4 reports that meta-studies find that exaggeration is common.

The empirical literature surveying the use of research methods is quite small, as I have found two articles only: Hamermesh ( 2013 ) covers 748 articles in 6 years a decade apart studies in three A-journals using a slightly different classification of methods, [1] while my study covers B-journals. Angrist, Azoulay, Ellison, Hill, and Lu ( 2017 ) use a machine-learning classification of 134,000 papers in 80 journals to look at the three main methods. My study subdivide the three categories into eight. The machine-learning algorithm is only sketched, so the paper is difficult to replicate, but it is surely a major effort. A key result in both articles is the strong decrease of theory in economic publications. This finding is confirmed, and it is shown that the corresponding increase in empirical articles is concentrated on the classical method.

I have tried to explain what I have done, so that everything is easy to replicate, in full or for one journal or one year. The coding of each article is available at least for the next five years. I should add that I have been in economic research for half a century. Some of the assessments in the paper will reflect my observations/experience during this period (indicated as my assessments). This especially applies to the judgements expressed in Section 4.

2 The eight categories

Table 1 reports that the annual number of papers in the ten journals has increased 1.9 times, or by 3.3% per year. The Appendix gives the full counts per category, journal, and year. By looking at data over two decades, I study how economic research develops. The increase in the production of papers is caused by two factors: The increase in the number of researchers. The increasing importance of publications for the careers of researchers.

The 3,415 papers

2.1 (M1) Theory: subgroups (M1.1) to (M1.3)

Table 2 lists the groups and main numbers discussed in the rest of the paper. Section 2.1 discusses (M1) theory. Section 2.2 covers (M2) experimental methods, while Section 2.3 looks at (M3) empirical methods using statistical inference from data.

The 3,415 papers – fractions in percent

The change of the fractions from 1997 to 2017 in percentage points

Note: Section 3.4 tests if the pattern observed in Table 3 is statistically significant. The Appendix reports the full data.

2.1.1 (M1.1) Economic theory

Papers are where the main content is the development of a theoretical model. The ideal theory paper presents a (simple) new model that recasts the way we look at something important. Such papers are rare and obtain large numbers of citations. Most theoretical papers present variants of known models and obtain few citations.

In a few papers, the analysis is verbal, but more than 95% rely on mathematics, though the technical level differs. Theory papers may start by a descriptive introduction giving the stylized fact the model explains, but the bulk of the paper is the formal analysis, building a model and deriving proofs of some propositions from the model. It is often demonstrated how the model works by a set of simulations, including a calibration made to look realistic. However, the calibrations differ greatly by the efforts made to reach realism. Often, the simulations are in lieu of an analytical solution or just an illustration suggesting the magnitudes of the results reached.

Theoretical papers suffer from the problem known as T-hacking , [2] where the able author by a careful selection of assumptions can tailor the theory to give the results desired. Thus, the proofs made from the model may represent the ability and preferences of the researcher rather than the properties of the economy.

2.1.2 (M1.2) Statistical method

Papers reporting new estimators and tests are published in a handful of specialized journals in econometrics and mathematical statistics – such journals are not included. In our general interest journals, some papers compare estimators on actual data sets. If the demonstration of a methodological improvement is the main feature of the paper, it belongs to (M1.2), but if the economic interpretation is the main point of the paper, it belongs to (M3.2) or (M3.3). [3]

Some papers, including a special issue of Empirical Economics (vol. 53–1), deal with forecasting models. Such models normally have a weak relation to economic theory. They are sometimes justified precisely because of their eclectic nature. They are classified as either (M1.2) or (M3.1), depending upon the focus. It appears that different methods work better on different data sets, and perhaps a trade-off exists between the user-friendliness of the model and the improvement reached.

2.1.3 (M1.3) Surveys

When the literature in a certain field becomes substantial, it normally presents a motley picture with an amazing variation, especially when different schools exist in the field. Thus, a survey is needed, and our sample contains 68 survey articles. They are of two types, where the second type is still rare:

2.1.3.1 (M1.3.1) Assessed surveys

Here, the author reads the papers and assesses what the most reliable results are. Such assessments require judgement that is often quite difficult to distinguish from priors, even for the author of the survey.

2.1.3.2 (M1.3.2) Meta-studies

They are quantitative surveys of estimates of parameters claimed to be the same. Over the two decades from 1997 to 2017, about 500 meta-studies have been made in economics. Our sample includes five, which is 0.15%. [4] Meta-analysis has two levels: The basic level collects and codes the estimates and studies their distribution. This is a rather objective exercise where results seem to replicate rather well. [5] The second level analyzes the variation between the results. This is less objective. The papers analyzed by meta-studies are empirical studies using method (M3.2), though a few use estimates from (M3.1) and (M3.3).

2.2 (M2) Experimental methods: subgroups (M2.1) and (M2.2)

Experiments are of three distinct types, where the last two are rare, so they are lumped together. They are taking place in real life.

2.2.1 (M2.1) Lab experiments

The sample had 1.9% papers using this method in 1997, and it has expanded to 9.7% in 2017. It is a technique that is much easier to apply to micro- than to macroeconomics, so it has spread unequally in the 10 journals, and many experiments are reported in a couple of special journals that are not included in our sample.

Most of these experiments take place in a laboratory, where the subjects communicate with a computer, giving a controlled, but artificial, environment. [6] A number of subjects are told a (more or less abstract) story and paid to react in either of a number of possible ways. A great deal of ingenuity has gone into the construction of such experiments and in the methods used to analyze the results. Lab experiments do allow studies of behavior that are hard to analyze in any other way, and they frequently show sides of human behavior that are difficult to rationalize by economic theory. It appears that such demonstration is a strong argument for the publication of a study.

However, everything is artificial – even the payment. In some cases, the stories told are so elaborate and abstract that framing must be a substantial risk; [7] see Levitt and List ( 2007 ) for a lucid summary, and Bergh and Wichardt ( 2018 ) for a striking example. In addition, experiments cost money, which limits the number of subjects. It is also worth pointing to the difference between expressive and real behavior. It is typically much cheaper for the subject to “express” nice behavior in a lab than to be nice in the real world.

(M2.2) Event studies are studies of real world experiments. They are of two types:

(M2.2.1) Field experiments analyze cases where some people get a certain treatment and others do not. The “gold standard” for such experiments is double blind random sampling, where everything (but the result!) is preannounced; see Christensen and Miguel ( 2018 ). Experiments with humans require permission from the relevant authorities, and the experiment takes time too. In the process, things may happen that compromise the strict rules of the standard. [8] Controlled experiments are expensive, as they require a team of researchers. Our sample of papers contains no study that fulfills the gold standard requirements, but there are a few less stringent studies of real life experiments.

(M2.2.2) Natural experiments take advantage of a discontinuity in the environment, i.e., the period before and after an (unpredicted) change of a law, an earthquake, etc. Methods have been developed to find the effect of the discontinuity. Often, such studies look like (M3.2) classical studies with many controls that may or may not belong. Thus, the problems discussed under (M3.2) will also apply.

2.3 (M3) Empirical methods: subgroups (M3.1) to (M3.3)

The remaining methods are studies making inference from “real” data, which are data samples where the researcher chooses the sample, but has no control over the data generating process.

(M3.1) Descriptive studies are deductive. The researcher describes the data aiming at finding structures that tell a story, which can be interpreted. The findings may call for a formal test. If one clean test follows from the description, [9] the paper is classified under (M3.1). If a more elaborate regression analysis is used, it is classified as (M3.2). Descriptive studies often contain a great deal of theory.

Some descriptive studies present a new data set developed by the author to analyze a debated issue. In these cases, it is often possible to make a clean test, so to the extent that biases sneak in, they are hidden in the details of the assessments made when the data are compiled.

(M3.2) Classical empirics has three steps: It starts by a theory, which is developed into an operational model. Then it presents the data set, and finally it runs regressions.

The significance levels of the t -ratios on the coefficient estimated assume that the regression is the first meeting of the estimation model and the data. We all know that this is rarely the case; see also point (m1) in Section 4.4. In practice, the classical method is often just a presentation technique. The great virtue of the method is that it can be applied to real problems outside academia. The relevance comes with a price: The method is quite flexible as many choices have to be made, and they often give different results. Preferences and interests, as discussed in Sections 4.3 and 4.4 below, notably as point (m2), may affect these choices.

(M3.3) Newer empirics . Partly as a reaction to the problems of (M3.2), the last 3–4 decades have seen a whole set of newer empirical techniques. [10] They include different types of VARs, Bayesian techniques, causality/co-integration tests, Kalman Filters, hazard functions, etc. I have found 162 (or 4.7%) papers where these techniques are the main ones used. The fraction was highest in 1997. Since then it has varied, but with no trend.

I think that the main reason for the lack of success for the new empirics is that it is quite bulky to report a careful set of co-integration tests or VARs, and they often show results that are far from useful in the sense that they are unclear and difficult to interpret. With some introduction and discussion, there is not much space left in the article. Therefore, we are dealing with a cookbook that makes for rather dull dishes, which are difficult to sell in the market.

Note the contrast between (M3.2) and (M3.3): (M3.2) makes it possible to write papers that are too good, while (M3.3) often makes them too dull. This contributes to explain why (M3.2) is getting (even) more popular and the lack of success of (M3.3), but then, it is arguable that it is more dangerous to act on exaggerated results than on results that are weak.

3 The 10 journals

The 10 journals chosen are: (J1) Can [Canadian Journal of Economics], (J2) Emp [Empirical Economics], (J3) EER [European Economic Review], (J4) EJPE [European Journal of Political Economy], (J5) JEBO [Journal of Economic Behavior & Organization], (J6) Inter [Journal of International Economics], (J7) Macro [Journal of Macroeconomics], (J8) Kyklos, (J9) PuCh [Public Choice], and (J10) SJE [Scandinavian Journal of Economics].

Section 3.1 discusses the choice of journals, while Section 3.2 considers how journals deal with the pressure for publication. Section 3.3 shows the marked difference in publication profile of the journals, and Section 3.4 tests if the trends in methods are significant.

3.1 The selection of journals

They should be general interest journals – methodological journals are excluded. By general interest, I mean that they bring papers where an executive summary may interest policymakers and people in general. (ii) They should be journals in English (the Canadian Journal includes one paper in French), which are open to researchers from all countries, so that the majority of the authors are from outside the country of the journal. [11] (iii) They should be sufficiently different so that it is likely that patterns, which apply to these journals, tell a believable story about economic research. Note that (i) and (iii) require some compromises, as is evident in the choice of (J2), (J6), (J7), and (J8) ( Table 4 ).

The 10 journals covered

Note. Growth is the average annual growth from 1997 to 2017 in the number of papers published.

Methodological journals are excluded, as they are not interesting to outsiders. However, new methods are developed to be used in general interest journals. From studies of citations, we know that useful methodological papers are highly cited. If they remain unused, we presume that it is because they are useless, though, of course, there may be a long lag.

The choice of journals may contain some subjectivity, but I think that they are sufficiently diverse so that patterns that generalize across these journals will also generalize across a broader range of good journals.

The papers included are the regular research articles. Consequently, I exclude short notes to other papers and book reviews, [12] except for a few article-long discussions of controversial books.

3.2 Creating space in journals

As mentioned in the introduction, the annual production of research papers in economics has now reached about 1,000 papers in top journals, and about 14,000 papers in the group of good journals. [13] The production has grown with 3.3% per year, and thus it has doubled the last twenty years. The hard-working researcher will read less than 100 papers a year. I know of no signs that this number is increasing. Thus, the upward trend in publication must be due to the large increase in the importance of publications for the careers of researchers, which has greatly increased the production of papers. There has also been a large increase in the number of researches, but as citations are increasingly skewed toward the top journals (see Heckman & Moktan, 2018 ), it has not increased demand for papers correspondingly. The pressures from the supply side have caused journals to look for ways to create space.

Book reviews have dropped to less than 1/3. Perhaps, it also indicates that economists read fewer books than they used to. Journals have increasingly come to use smaller fonts and larger pages, allowing more words per page. The journals from North-Holland Elsevier have managed to cram almost two old pages into one new one. [14] This makes it easier to publish papers, while they become harder to read.

Many journals have changed their numbering system for the annual issues, making it less transparent how much they publish. Only three – Canadian Economic Journal, Kyklos, and Scandinavian Journal of Economics – have kept the schedule of publishing one volume of four issues per year. It gives about 40 papers per year. Public Choice has a (fairly) consistent system with four volumes of two double issues per year – this gives about 100 papers. The remaining journals have changed their numbering system and increased the number of papers published per year – often dramatically.

Thus, I assess the wave of publications is caused by the increased supply of papers and not to the demand for reading material. Consequently, the study confirms and updates the observation by Temple ( 1918 , p. 242): “… as the world gets older the more people are inclined to write but the less they are inclined to read.”

3.3 How different are the journals?

The appendix reports the counts for each year and journal of the research methods. From these counts, a set of χ 2 -scores is calculated for the three main groups of methods – they are reported in Table 5 . It gives the χ 2 -test comparing the profile of each journal to the one of the other nine journals taken to be the theoretical distribution.

The methodological profile of the journals –  χ 2 -scores for main groups

Note: The χ 2 -scores are calculated relative to all other journals. The sign (+) or (−) indicates if the journal has too many or too few papers relatively in the category. The P -values for the χ 2 (3)-test always reject that the journal has the same methodological profile as the other nine journals.

The test rejects that the distribution is the same as the average for any of the journals. The closest to the average is the EJPE and Public Choice. The two most deviating scores are for the most micro-oriented journal JEBO, which brings many experimental papers, and of course, Empirical Economics, which brings many empirical papers.

3.4 Trends in the use of the methods

Table 3 already gave an impression of the main trends in the methods preferred by economists. I now test if these impressions are statistically significant. The tests have to be tailored to disregard three differences between the journals: their methodological profiles, the number of papers they publish, and the trend in the number. Table 6 reports a set of distribution free tests, which overcome these differences. The tests are done on the shares of each research method for each journal. As the data cover five years, it gives 10 pairs of years to compare. [15] The three trend-scores in the []-brackets count how often the shares go up, down, or stay the same in the 10 cases. This is the count done for a Kendall rank correlation comparing the five shares with a positive trend (such as 1, 2, 3, 4, and 5).

Trend-scores and tests for the eight subgroups of methods across the 10 journals

Note: The three trend-scores in each [ I 1 , I 2 , I 3 ]-bracket are a Kendall-count over all 10 combinations of years. I 1 counts how often the share goes up. I 2 counts when the share goes down, and I 3 counts the number of ties. Most ties occur when there are no observations either year. Thus, I 1 + I 2 + I 3 = 10. The tests are two-sided binominal tests disregarding the zeroes. The test results in bold are significant at the 5% level.

The first set of trend-scores for (M1.1) and (J1) is [1, 9, 0]. It means that 1 of the 10 share-pairs increases, while nine decrease and no ties are found. The two-sided binominal test is 2%, so it is unlikely to happen. Nine of the ten journals in the (M1.1)-column have a majority of falling shares. The important point is that the counts in one column can be added – as is done in the all-row; this gives a powerful trend test that disregards differences between journals and the number of papers published. ( Table A1 )

Four of the trend-tests are significant: The fall in theoretical papers and the rise in classical papers. There is also a rise in the share of stat method and event studies. It is surprising that there is no trend in the number of experimental studies, but see Table A2 (in Appendix).

4 An attempt to interpret the pattern found

The development in the methods pursued by researchers in economics is a reaction to the demand and supply forces on the market for economic papers. As already argued, it seems that a key factor is the increasing production of papers.

The shares add to 100, so the decline of one method means that the others rise. Section 4.1 looks at the biggest change – the reduction in theory papers. Section 4.2 discusses the rise in two new categories. Section 4.3 considers the large increase in the classical method, while Section 4.4 looks at what we know about that method from meta-analysis.

4.1 The decline of theory: economics suffers from theory fatigue [16]

The papers in economic theory have dropped from 59.5 to 33.6% – this is the largest change for any of the eight subgroups. [17] It is highly significant in the trend test. I attribute this drop to theory fatigue.

As mentioned in Section 2.1, the ideal theory paper presents a (simple) new model that recasts the way we look at something important. However, most theory papers are less exciting: They start from the standard model and argue that a well-known conclusion reached from the model hinges upon a debatable assumption – if it changes, so does the conclusion. Such papers are useful. From a literature on one main model, the profession learns its strengths and weaknesses. It appears that no generally accepted method exists to summarize this knowledge in a systematic way, though many thoughtful summaries have appeared.

I think that there is a deeper problem explaining theory fatigue. It is that many theoretical papers are quite unconvincing. Granted that the calculations are done right, believability hinges on the realism of the assumptions at the start and of the results presented at the end. In order for a model to convince, it should (at least) demonstrate the realism of either the assumptions or the outcome. [18] If both ends appear to hang in the air, it becomes a game giving little new knowledge about the world, however skillfully played.

The theory fatigue has caused a demand for simulations demonstrating that the models can mimic something in the world. Kydland and Prescott pioneered calibration methods (see their 1991 ). Calibrations may be carefully done, but it often appears like a numerical solution of a model that is too complex to allow an analytical solution.

4.2 Two examples of waves: one that is still rising and another that is fizzling out

When a new method of gaining insights in the economy first appears, it is surrounded by doubts, but it also promises a high marginal productivity of knowledge. Gradually the doubts subside, and many researchers enter the field. After some time this will cause the marginal productivity of the method to fall, and it becomes less interesting. The eight methods include two newer ones: Lab experiments and newer stats. [19]

It is not surprising that papers with lab experiments are increasing, though it did take a long time: The seminal paper presenting the technique was Smith ( 1962 ), but only a handful of papers are from the 1960s. Charles Plott organized the first experimental lab 10 years later – this created a new standard for experiments, but required an investment in a lab and some staff. Labs became more common in the 1990s as PCs got cheaper and software was developed to handle experiments, but only 1.9% of the papers in the 10 journals reported lab experiments in 1997. This has now increased to 9.7%, so the wave is still rising. The trend in experiments is concentrated in a few journals, so the trend test in Table 6 is insignificant, but it is significant in the Appendix Table A2 , where it is done on the sum of articles irrespective of the journal.

In addition to the rising share of lab experiment papers in some journals, the journal Experimental Economics was started in 1998, where it published 281 pages in three issues. In 2017, it had reached 1,006 pages in four issues, [20] which is an annual increase of 6.5%.

Compared with the success of experimental economics, the motley category of newer empirics has had a more modest success, as the fraction of papers in the 5 years are 5.8, 5.2, 3.5, 5.4, and 4.2, which has no trend. Newer stats also require investment, but mainly in human capital. [21] Some of the papers using the classical methodology contain a table with Dickey-Fuller tests or some eigenvalues of the data matrix, but they are normally peripheral to the analysis. A couple of papers use Kalman filters, and a dozen papers use Bayesian VARs. However, it is clear that the newer empirics have made little headway into our sample of general interest journals.

4.3 The steady rise of the classical method: flexibility rewarded

The typical classical paper provides estimates of a key effect that decision-makers outside academia want to know. This makes the paper policy relevant right from the start, and in many cases, it is possible to write a one page executive summary to the said decision-makers.

The three-step convention (see Section 2.3) is often followed rather loosely. The estimation model is nearly always much simpler than the theory. Thus, while the model can be derived from a theory, the reverse does not apply. Sometimes, the model seems to follow straight from common sense, and if the link from the theory to the model is thin, it begs the question: Is the theory really necessary? In such cases, it is hard to be convinced that the tests “confirm” the theory, but then, of course, tests only say that the data do not reject the theory.

The classical method is often only a presentation devise. Think of a researcher who has reached a nice publishable result through a long and tortuous path, including some failed attempts to find such results. It is not possible to describe that path within the severely limited space of an article. In addition, such a presentation would be rather dull to read, and none of us likes to talk about wasted efforts that in hindsight seem a bit silly. Here, the classical method becomes a convenient presentation device.

The biggest source of variation in the results is the choice of control/modifier variables. All datasets presumably contain some general and some special information, where the latter depends on the circumstances prevailing when the data were compiled. The regression should be controlled for these circumstances in order to reach the general result. Such ceteris paribus controls are not part of the theory, so many possible controls may be added. The ones chosen for publication often appear to be the ones delivering the “right” results by the priors of the researcher. The justification for their inclusion is often thin, and if two-stage regressions are used, the first stage instruments often have an even thinner justification.

Thus, the classical method is rather malleable to the preferences and interests of researchers and sponsors. This means that some papers using the classical technique are not what they pretend, as already pointed out by Leamer ( 1983 ), see also Paldam ( 2018 ) for new references and theory. The fact that data mining is tempting suggests that it is often possible to reach smashing results, making the paper nice to read. This may be precisely why it is cited.

Many papers using the classical method throw in some bits of exotic statistics technique to demonstrate the robustness of the result and the ability of the researcher. This presumably helps to generate credibility.

4.4 Knowledge about classical papers reached from meta-studies

Individual studies using the classical method often look better than they are, and thus they are more uncertain than they appear, but we may think of the value of convergence for large N s (number of observations) as the truth. The exaggeration is largest in the beginning of a new literature, but gradually it becomes smaller. Thus, the classical method does generate truth when the effect searched for has been studied from many sides. The word research does mean that the search has to be repeated! It is highly risky to trust a few papers only.

Meta-analysis has found other results such as: Results in top journals do not stand out. It is necessary to look at many journals, as many papers on the same effect are needed. Little of the large variation between results is due to the choice of estimators.

A similar development should occur also for experimental economics. Experiments fall in families: A large number cover prisoner’s dilemma games, but there are also many studies of dictator games, auction games, etc. Surveys summarizing what we have learned about these games seem highly needed. Assessed summaries of old experiments are common, notably in introductions to papers reporting new ones. It should be possible to extract the knowledge reached by sets of related lab experiments in a quantitative way, by some sort of meta-technique, but this has barely started. The first pioneering meta-studies of lab experiments do find the usual wide variation of results from seemingly closely related experiments. [25] A recent large-scale replicability study by Camerer et al. ( 2018 ) finds that published experiments in the high quality journal Nature and Science exaggerate by a factor two just like regression studies using the classical method.

5 Conclusion

The study presents evidence that over the last 20 years economic research has moved away from theory towards empirical work using the classical method.

From the eighties onward, there has been a steady stream of papers pointing out that the classical method suffers from excess flexibility. It does deliver relevant results, but they tend to be too good. [26] While, increasingly, we know the size of the problems of the classical method, systematic knowledge about the problems of the other methods is weaker. It is possible that the problems are smaller, but we do not know.

Therefore, it is clear that obtaining solid knowledge about the size of an important effect requires a great deal of papers analyzing many aspects of the effect and a careful quantitative survey. It is a well-known principle in the harder sciences that results need repeated independent replication to be truly trustworthy. In economics, this is only accepted in principle.

The classical method of empirical research is gradually winning, and this is a fine development: It does give answers to important policy questions. These answers are highly variable and often exaggerated, but through the efforts of many competing researchers, solid knowledge will gradually emerge.

Home page: http://www.martin.paldam.dk

Acknowledgments

The paper has been presented at the 2018 MAER-Net Colloquium in Melbourne, the Kiel Aarhus workshop in 2018, and at the European Public Choice 2019 Meeting in Jerusalem. I am grateful for all comments, especially from Chris Doucouliagos, Eelke de Jong, and Bob Reed. In addition, I thank the referees for constructive advice.

Conflict of interest: Author states no conflict of interest.

Appendix: Two tables and some assessments of the size of the profession

The text needs some numbers to assess the representativity of the results reached. These numbers just need to be orders of magnitude. I use the standard three-level classification in A, B, and C of researchers, departments, and journals. The connections between the three categories are dynamic and rely on complex sorting mechanisms. In an international setting, it matters that researchers have preferences for countries, notably their own. The relation between the three categories has a stochastic element.

The World of Learning organization reports on 36,000 universities, colleges, and other institutes of tertiary education and research. Many of these institutions are mainly engaged in undergraduate teaching, and some are quite modest. If half of these institutions have a program in economics, with a staff of at least five, the total stock of academic economists is 100,000, of which most are at the C-level.

The A-level of about 500 tenured researchers working at the top ten universities (mainly) publishes in the top 10 journals that bring less than 1,000 papers per year; [27] see Heckman and Moktan (2020). They (mainly) cite each other, but they greatly influence other researchers. [28] The B-level consists of about 15–20,000 researchers who work at 4–500 research universities, with graduate programs and ambitions to publish. They (mainly) publish in the next level of about 150 journals. [29] In addition, there are at least another 1,000 institutions that strive to move up in the hierarchy.

The counts for each of the 10 journals

Counts, shares, and changes for all ten journals for subgroups

Note: The trend-scores are calculated as in Table 6 . Compared to the results in Table 6 , the results are similar, but the power is less than before. However, note that the results in Column (M2.1) dealing with experiments are stronger in Table A2 . This has to do with the way missing observations are treated in the test.

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• 15 April 2024
• Correction 22 April 2024

Revealed: the ten research papers that policy documents cite most

• Dalmeet Singh Chawla 0

Dalmeet Singh Chawla is a freelance science journalist based in London.

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Policymakers often work behind closed doors — but the documents they produce offer clues about the research that influences them. Credit: Stefan Rousseau/Getty

When David Autor co-wrote a paper on how computerization affects job skill demands more than 20 years ago, a journal took 18 months to consider it — only to reject it after review. He went on to submit it to The Quarterly Journal of Economics , which eventually published the work 1 in November 2003.

Autor’s paper is now the third most cited in policy documents worldwide, according to an analysis of data provided exclusively to Nature . It has accumulated around 1,100 citations in policy documents, show figures from the London-based firm Overton (see ‘The most-cited papers in policy’), which maintains a database of more than 12 million policy documents, think-tank papers, white papers and guidelines.

“I thought it was destined to be quite an obscure paper,” recalls Autor, a public-policy scholar and economist at the Massachusetts Institute of Technology in Cambridge. “I’m excited that a lot of people are citing it.”

The most-cited papers in policy

Economics papers dominate the top ten papers that policy documents reference most.

Data from Overton as of 15 April 2024

The top ten most cited papers in policy documents are dominated by economics research; the number one most referenced study has around 1,300 citations. When economics studies are excluded, a 1997 Nature paper 2 about Earth’s ecosystem services and natural capital is second on the list, with more than 900 policy citations. The paper has also garnered more than 32,000 references from other studies, according to Google Scholar. Other highly cited non-economics studies include works on planetary boundaries, sustainable foods and the future of employment (see ‘Most-cited papers — excluding economics research’).

These lists provide insight into the types of research that politicians pay attention to, but policy citations don’t necessarily imply impact or influence, and Overton’s database has a bias towards documents published in English.

Interdisciplinary impact

Overton usually charges a licence fee to access its citation data. But last year, the firm worked with the publisher Sage to release a free web-based tool , based in Thousand Oaks, California, that allows any researcher to find out how many times policy documents have cited their papers or mention their names. Overton and Sage said they created the tool, called Sage Policy Profiles, to help researchers to demonstrate the impact or influence their work might be having on policy. This can be useful for researchers during promotion or tenure interviews and in grant applications.

Autor thinks his study stands out because his paper was different from what other economists were writing at the time. It suggested that ‘middle-skill’ work, typically done in offices or factories by people who haven’t attended university, was going to be largely automated, leaving workers with either highly skilled jobs or manual work. “It has stood the test of time,” he says, “and it got people to focus on what I think is the right problem.” That topic is just as relevant today, Autor says, especially with the rise of artificial intelligence.

Most-cited papers — excluding economics research

When economics studies are excluded, the research papers that policy documents most commonly reference cover topics including climate change and nutrition.

Walter Willett, an epidemiologist and food scientist at the Harvard T.H. Chan School of Public Health in Boston, Massachusetts, thinks that interdisciplinary teams are most likely to gain a lot of policy citations. He co-authored a paper on the list of most cited non-economics studies: a 2019 work 3 that was part of a Lancet commission to investigate how to feed the global population a healthy and environmentally sustainable diet by 2050 and has accumulated more than 600 policy citations.

“I think it had an impact because it was clearly a multidisciplinary effort,” says Willett. The work was co-authored by 37 scientists from 17 countries. The team included researchers from disciplines including food science, health metrics, climate change, ecology and evolution and bioethics. “None of us could have done this on our own. It really did require working with people outside our fields.”

Sverker Sörlin, an environmental historian at the KTH Royal Institute of Technology in Stockholm, agrees that papers with a diverse set of authors often attract more policy citations. “It’s the combined effect that is often the key to getting more influence,” he says.

Has your research influenced policy? Use this free tool to check

Sörlin co-authored two papers in the list of top ten non-economics papers. One of those is a 2015 Science paper 4 on planetary boundaries — a concept defining the environmental limits in which humanity can develop and thrive — which has attracted more than 750 policy citations. Sörlin thinks one reason it has been popular is that it’s a sequel to a 2009 Nature paper 5 he co-authored on the same topic, which has been cited by policy documents 575 times.

Although policy citations don’t necessarily imply influence, Willett has seen evidence that his paper is prompting changes in policy. He points to Denmark as an example, noting that the nation is reformatting its dietary guidelines in line with the study’s recommendations. “I certainly can’t say that this document is the only thing that’s changing their guidelines,” he says. But “this gave it the support and credibility that allowed them to go forward”.

Broad brush

Peter Gluckman, who was the chief science adviser to the prime minister of New Zealand between 2009 and 2018, is not surprised by the lists. He expects policymakers to refer to broad-brush papers rather than those reporting on incremental advances in a field.

Gluckman, a paediatrician and biomedical scientist at the University of Auckland in New Zealand, notes that it’s important to consider the context in which papers are being cited, because studies reporting controversial findings sometimes attract many citations. He also warns that the list is probably not comprehensive: many policy papers are not easily accessible to tools such as Overton, which uses text mining to compile data, and so will not be included in the database.

The top 100 papers

“The thing that worries me most is the age of the papers that are involved,” Gluckman says. “Does that tell us something about just the way the analysis is done or that relatively few papers get heavily used in policymaking?”

Gluckman says it’s strange that some recent work on climate change, food security, social cohesion and similar areas hasn’t made it to the non-economics list. “Maybe it’s just because they’re not being referred to,” he says, or perhaps that work is cited, in turn, in the broad-scope papers that are most heavily referenced in policy documents.

As for Sage Policy Profiles, Gluckman says it’s always useful to get an idea of which studies are attracting attention from policymakers, but he notes that studies often take years to influence policy. “Yet the average academic is trying to make a claim here and now that their current work is having an impact,” he adds. “So there’s a disconnect there.”

Willett thinks policy citations are probably more important than scholarly citations in other papers. “In the end, we don’t want this to just sit on an academic shelf.”

doi: https://doi.org/10.1038/d41586-024-00660-1

Updates & Corrections

Correction 22 April 2024 : The original version of this story credited Sage, rather than Overton, as the source of the policy papers’ citation data. Sage’s location has also been updated.

Autor, D. H., Levy, F. & Murnane, R. J. Q. J. Econ. 118 , 1279–1333 (2003).

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Rockström, J. et al. Nature 461 , 472–475 (2009).

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Homelessness and the Persistence of Deprivation: Income, Employment, and Safety Net Participation

Homelessness is arguably the most extreme hardship associated with poverty in the United States, yet people experiencing homelessness are excluded from official poverty statistics and much of the extreme poverty literature. This paper provides the most detailed and accurate portrait to date of the level and persistence of material disadvantage faced by this population, including the first national estimates of income, employment, and safety net participation based on administrative data. Starting from the first large and nationally representative sample of adults recorded as sheltered and unsheltered homeless taken from the 2010 Census, we link restricted-use longitudinal tax records and administrative data on the Supplemental Nutrition Assistance Program (SNAP), Medicare, Medicaid, Disability Insurance (DI), Supplemental Security Income (SSI), veterans’ benefits, housing assistance, and mortality. Nearly half of these adults had formal employment in the year they were observed as homeless, and nearly all either worked or were reached by at least one safety net program. Nevertheless, their incomes remained low for the decade surrounding an observed period of homelessness, suggesting that homelessness tends to arise in the context of long-term, severe deprivation rather than large and sudden losses of income. People appear to experience homelessness because they are very poor despite being connected to the labor market and safety net, with low permanent incomes leaving them vulnerable to the loss of housing when met with even modest disruptions to life circumstances.

The Census Bureau has reviewed this data product for unauthorized disclosure of confidential information and has approved the disclosure avoidance practices applies to this release, authorization number CBDRB-FY2022-CES005-015. We thank the U.S. Census Bureau for their support, as well as John Abowd, Mark Asiala, George Carter, James Christy, Dennis Culhane, Kevin Deardorff, Conor Dougherty, Ingrid Gould Ellen, Anne Fletcher, Katie Genadek, Tatiana Homonoff, Kristin Kerns, William Koerber, Margot Kushel, Larry Locklear, Tim Marshall, Brian McKenzie, Brendan O’Flaherty, James Pugh, Trudi Renwick, Annette Riorday, Nan Roman, William Snow, Eddie Thomas, Matthew Turner, and John Voorheis for providing feedback and answering questions. We also thank participants in seminars at Yale University (Labor/Public Economics Workshop), the University of Chicago (Demography Workshop), APPAM, NTA, NBER Labor Studies, IRS/Census (Income Measurement Workshop), and the Institute for Research on Poverty. Ilina Logani and Mandana Vakil provided excellent research assistance. We appreciate the financial support of the Alfred P. Sloan Foundation, the Russell Sage Foundation, the Charles Koch Foundation, the Menard Family Foundation, and the American Enterprise Institute. Wyse thanks the National Institute on Aging for their support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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Economics Research Paper Topics

Economics Research Guide

Economics is a field of study that deals with the production, distribution, and consumption of goods and services. As such, it has a profound impact on our lives and society as a whole. Given its importance, economics research is a critical component of the field, as it helps to advance our understanding of economic principles, and inform policy decisions. In this guide, we will explore a range of economics research paper topics, organized into several categories, each with its own unique focus and scope.

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This guide is intended for students and researchers who are interested in understanding the complexities of economic systems, and how they relate to broader social and political issues. Through a careful examination of these topics, readers will gain insights into the ways in which economics influences our daily lives, and the world around us.

The following sections will provide an overview of the categories of economics research paper topics that will be explored in this guide. Each category will be accompanied by a list of potential research paper topics that can serve as a starting point for students and researchers looking to explore these areas in greater depth. By the end of this article, readers will have a deeper appreciation of the breadth and depth of the field of economics, and the important role it plays in shaping our world.

Economics is a vast field of study that covers a wide range of topics and sub-disciplines. To help students navigate this broad subject area, economics research paper topics can be organized into several categories. This approach not only assists in topic selection but also enables students to explore various aspects of economics in a more systematic manner. In this section, we will discuss 20 categories of economics research paper topics that can serve as a starting point for students looking to write a research paper in economics.

• Economic Theory

Economic theory is the foundation of modern economics, providing a framework for understanding economic behavior and decision-making. Research in economic theory can focus on topics such as game theory, decision-making under uncertainty, and the design of economic mechanisms. Potential research paper topics within economic theory include:

• The role of information in economic decision-making
• The effects of taxation on economic behavior
• The design of auctions in different economic contexts
• The efficiency of different market structures
• The impact of externalities on market outcomes
• The role of social norms in economic behavior
• The implications of bounded rationality for economic theory
• The relationship between inequality and economic growth
• The impact of financial frictions on economic outcomes
• The use of experimental methods in economic theory research
• Microeconomics

Microeconomics is the study of how individuals and firms make decisions in the context of limited resources. Research in microeconomics can explore topics such as consumer behavior, market structure, and the impact of public policy on individual and firm behavior. Potential research paper topics within microeconomics include:

• The economics of discrimination and inequality
• The impact of regulation on market outcomes
• The role of innovation in market competition
• The economics of information and the internet
• The relationship between education and earnings
• The impact of trade on local labor markets
• The economics of healthcare and insurance markets
• The impact of minimum wage laws on employment
• The economics of environmental regulation
• The role of non-profits and social enterprises in market competition
• Macroeconomics

Macroeconomics is concerned with the behavior of the economy as a whole, including topics such as economic growth, inflation, and monetary policy. Research in macroeconomics can explore topics such as the causes and consequences of economic fluctuations, the role of government policy in stabilizing the economy, and the impact of globalization on macroeconomic outcomes. Potential research paper topics within macroeconomics include:

• The impact of fiscal policy on economic growth
• The role of central banks in maintaining price stability
• The relationship between inflation and unemployment
• The impact of monetary policy on exchange rates
• The causes and consequences of financial crises
• The economics of international trade and exchange rate regimes
• The impact of technology on economic growth
• The role of government in promoting long-term economic growth
• The impact of demographic changes on macroeconomic outcomes
• The use of macroeconomic models to forecast economic outcomes
• Econometrics

Econometrics is the application of statistical and mathematical methods to economic data. Research in econometrics can explore topics such as causal inference, time-series analysis, and the modeling of complex economic systems. Potential research paper topics within econometrics include:

• The use of machine learning algorithms in econometric analysis
• The impact of measurement error on econometric results
• The role of panel data in econometric analysis
• The use of quasi-experimental methods in causal inference
• The impact of model selection on econometric results
• The estimation of dynamic models in econometrics
• The role of Bayesian methods in econometric analysis
• The use of structural models in econometric analysis
• The impact of omitted variable bias on econometric results
• The use of econometric methods to study income inequality
• International Economics

International economics refers to the study of economic interactions among countries. It analyzes trade, investment, finance, and migration across borders. International economics is concerned with the causes and consequences of international trade, the determinants of trade flows, the impact of globalization on economic growth and inequality, and the effects of trade policy on national welfare. International economics research papers can address topics such as:

• The impact of trade liberalization on economic growth and income distribution.
• The role of institutions in promoting international trade.
• The determinants of foreign direct investment flows.
• The impact of globalization on labor markets in developed and developing countries.
• The effects of trade policies, such as tariffs and quotas, on international trade and welfare.
• The role of exchange rates in international trade and finance.
• The impact of international trade on the environment.
• The economic implications of regional trade agreements, such as the European Union.
• The impact of trade on human rights.
• The effectiveness of development aid in promoting economic growth in developing countries.
• Behavioral Economics

Behavioral economics is the study of how psychological and cognitive factors influence economic decision-making. Behavioral economics seeks to explain why people make economic decisions that appear to be irrational or suboptimal, and how these decisions can be influenced by various factors, such as social norms, emotions, and cognitive biases. Research papers in behavioral economics can focus on topics such as:

• The impact of social norms on economic decision-making.
• The role of emotions in financial decision-making.
• The effect of framing and context on consumer behavior.
• The impact of cognitive biases, such as overconfidence and loss aversion, on decision-making.
• The implications of bounded rationality for economic models and policies.
• The impact of incentives on economic behavior.
• The role of trust in economic decision-making.
• The effect of social networks on economic behavior.
• The impact of reputation and social status on economic decisions.
• The role of identity and self-image in economic behavior.
• Game Theory

Game theory is a branch of economics that studies strategic decision-making in situations where the outcome of a decision depends on the actions of other decision-makers. Game theory is used to analyze a wide range of economic interactions, such as auctions, oligopolies, and bargaining situations. Research papers in game theory can address topics such as:

• The impact of information on strategic decision-making.
• The effect of repeated interactions on cooperation and competition.
• The role of commitment and credibility in strategic interactions.
• The impact of uncertainty and risk on decision-making.
• The implications of incomplete information for strategic behavior.
• The effect of network structure on strategic interactions.
• The role of reputation and trust in strategic interactions.
• The impact of strategic interaction on social welfare.
• The effect of communication on strategic decision-making.
• The implications of bounded rationality for game-theoretic models.

Development Economics

Development economics is a branch of economics that focuses on economic development, specifically the process of economic growth, poverty reduction, and improving the standards of living in developing countries. Development economics examines the social, economic, and political factors that contribute to or impede economic growth and development. Possible research paper topics in this category include:

• The impact of foreign aid on economic development in developing countries.
• The role of microfinance in poverty alleviation.
• The effects of globalization on economic development in developing countries.
• The impact of corruption on economic development in developing countries.
• The role of human capital in economic growth and development.
• The effects of trade liberalization on economic growth and development.
• The relationship between income inequality and economic growth in developing countries.
• The role of foreign direct investment (FDI) in economic development in developing countries.
• The effects of political instability on economic growth and development in developing countries.
• The impact of natural resource endowments on economic growth and development in developing countries.

Financial Economics

Financial economics is a subfield of economics that focuses on the financial markets and financial instruments, such as stocks, bonds, and derivatives. This field also includes the study of financial institutions and their roles in the economy. Some potential research paper topics in this category include:

• The impact of monetary policy on financial markets.
• The role of financial intermediaries in the economy.
• The impact of financial regulation on financial markets.
• The effects of financial innovation on financial markets and the economy.
• The impact of international financial markets on the domestic economy.
• The relationship between financial markets and the real economy.
• The effects of financial crises on financial markets and the economy.
• The role of credit markets in the economy.
• The impact of interest rates on financial markets and the economy.
• The effects of quantitative easing on financial markets and the economy.

Industrial Organization

Industrial organization is a subfield of economics that focuses on the study of firms, markets, and industries. This field examines the behavior of firms and the market structure in which they operate. Potential research paper topics in this category include:

• The impact of mergers and acquisitions on market competition.
• The relationship between market structure and firm behavior.
• The effects of antitrust regulation on market competition.
• The role of patents and intellectual property rights in industry.
• The effects of market power on consumer welfare.
• The impact of technological change on industry structure.
• The role of advertising and branding in creating market power.
• The effects of network externalities on industry structure.
• The impact of vertical integration on market competition.
• The effects of globalization on industry structure and market competition.

Labor Economics

Labor economics is a subfield of economics that focuses on the study of labor markets and the behavior of workers and firms in those markets. Possible research paper topics in this category include:

• The impact of minimum wage laws on employment and wages.
• The effects of labor unions on wages and employment.
• The role of discrimination in labor markets.
• The impact of immigration on wages and employment.
• The relationship between education and earnings.
• The effects of job training programs on employment and wages.
• The impact of labor market regulations on employment and wages.
• The effects of technology on employment and wages.
• The role of gender in labor market outcomes.
• The impact of globalization on labor markets and employment.

Environmental Economics

Environmental economics is a branch of economics that focuses on the study of how economic activity affects the environment and how policies and regulations can be designed to mitigate negative impacts while promoting sustainable development. Some potential research paper topics in environmental economics are:

• The effectiveness of carbon pricing in reducing greenhouse gas emissions.
• The economic impact of the Clean Air Act on the US economy.
• The role of property rights in promoting conservation of natural resources.
• The impact of environmental regulations on the competitiveness of domestic industries.
• The trade-offs between economic development and environmental protection in developing countries.
• The role of international trade in driving global deforestation.
• The economics of water scarcity and the allocation of water resources.
• The impact of climate change on agricultural productivity and food security.
• The effectiveness of eco-labeling programs in promoting sustainable consumption.
• The economics of renewable energy development and the transition away from fossil fuels.

Health Economics

Health economics is the study of how resources are allocated in the healthcare sector. It involves analyzing the economic factors that influence healthcare, such as the demand for healthcare services, the supply of healthcare providers, and the financing of healthcare systems. Potential research paper topics in health economics include:

• The impact of healthcare financing on health outcomes.
• The economics of healthcare reform.
• The relationship between healthcare spending and health outcomes.
• The role of incentives in healthcare delivery.
• The economics of healthcare technology.
• The effect of insurance coverage on healthcare utilization.
• The economic burden of chronic diseases on healthcare systems.
• The impact of globalization on healthcare systems.
• The economics of mental health.
• The economics of public health interventions.

Agricultural Economics

Agricultural economics is the study of the production, distribution, and consumption of agricultural goods and services. It analyzes how the agricultural sector operates and interacts with other sectors of the economy, as well as the economic principles that govern it. Some potential research paper topics in this area include:

• The impact of climate change on agriculture.
• The economics of land use and farming practices.
• Agricultural subsidies and their effects on farmers and consumers.
• The role of agriculture in rural development.
• Agricultural trade policies and their impact on domestic and international markets.
• The economics of genetically modified crops.
• The use of technology in agriculture and its economic implications.
• The economics of food safety and food security.
• The role of agricultural cooperatives in promoting economic development.
• The impact of globalization on the agricultural sector.

Urban and Regional Economics

Urban and regional economics is concerned with the economic issues that arise in urban and regional contexts. It examines how economic activities are distributed across geographic areas and how policies can be designed to promote regional growth and development. Some potential research paper topics in this area include:

• The economic impact of gentrification on urban neighborhoods.
• The role of transportation infrastructure in urban and regional development.
• The economics of urban sprawl and its impact on the environment.
• The economics of regional trade agreements.
• The economic impact of sports stadiums on local communities.
• The role of land use regulations in shaping urban and regional development.
• The economics of urban crime and its impact on local economies.
• The economics of cultural districts and their impact on local economies.
• The impact of immigration on urban and regional economies.
• The economics of regional innovation systems and their role in promoting economic growth.
• Public Economics

Public economics is the study of the role of government in the economy. It examines how government policies and programs affect economic outcomes and how they can be designed to promote efficiency and equity. Some potential research paper topics in this area include:

• The economics of taxation and tax policy.
• The impact of government spending on economic growth and development.
• The economics of social welfare programs.
• The economics of healthcare policy and healthcare reform.
• The role of government in promoting environmental sustainability.
• The economics of education policy and education reform.
• The economics of public goods and common pool resources.
• The impact of government regulations on business and economic activity.
• The economics of social insurance programs such as Social Security and Medicare.
• The economics of public-private partnerships and their role in promoting economic growth and development.

Energy Economics

Energy economics is the study of the production, consumption, and distribution of energy resources and their impact on the economy. It examines the economic principles that govern the energy sector and the policies that can be designed to promote energy efficiency and sustainability. Some potential research paper topics in this area include:

• The economics of renewable energy sources and their role in reducing greenhouse gas emissions.
• The impact of energy policies on energy security and national security.
• The economics of energy markets and energy pricing.
• The impact of energy consumption on the environment and public health.
• The economics of energy efficiency and energy conservation.
• The economics of energy storage and transmission.
• The role of government in promoting energy innovation and technology development.
• The impact of international energy markets on domestic energy policy.
• The economics of energy subsidies and their impact on energy markets.
• The economics of energy transition and its impact on the economy and society.

Education Economics

Education economics is a branch of economics that studies how education and the education system can impact economic outcomes. It explores the relationship between education and economic growth, productivity, and income distribution. Education economics research topics can range from the analysis of specific educational policies and programs to the broader societal impacts of education on economic development. Here are ten potential research paper topics in education economics:

• The impact of school choice policies on student achievement.
• The effectiveness of early childhood education programs in promoting long-term educational success and economic outcomes.
• The relationship between education and technological innovation.
• The impact of teacher quality on student outcomes and long-term economic success.
• The role of education in reducing income inequality.
• The economics of student loan debt and its impact on college attendance and graduation rates.
• The effect of private schools on educational attainment and economic outcomes.
• The economics of college athletics and its impact on university finances and student outcomes.
• The role of education in promoting entrepreneurship and innovation.
• The impact of educational technology on student outcomes and economic development.

History of Economic Thought

The history of economic thought is a fascinating field that explores the evolution of economic ideas over time. It examines the development of economic theories, the contributions of different economists, and the historical context in which they worked. Some potential research paper topics in this category include:

• Adam Smith’s contribution to economic thought.
• The Marxist critique of capitalism.
• The role of the Austrian School in economic theory.
• Keynesian economics and the Great Depression.
• Milton Friedman’s monetarist theory.
• Behavioral economics and the rise of the “nudge” approach.
• The development of econometric modeling techniques.
• The influence of economic ideas on policy making.
• The evolution of the concept of economic growth.
• The relationship between economic thought and political ideologies.

Interdisciplinary Economics

Interdisciplinary economics combines principles and methodologies from different fields, such as psychology, sociology, anthropology, and political science, to better understand economic phenomena. This category includes research on topics such as:

• The economic dimensions of climate change.
• The role of institutions in economic development.
• The political economy of healthcare.
• The effects of globalization on inequality.
• The relationship between culture and economic behavior.
• The history of economic thought from a multidisciplinary perspective.
• The impact of technology on the labor market.
• The intersection of law and economics.
• The economics of happiness and well-being.
• The role of social networks in economic behavior.

Economics research paper topics are diverse and provide a wide range of opportunities for exploring the intricacies of the economy. Whether you’re interested in macro or microeconomics, development or environmental economics, or the history of economic thought, there are plenty of topics to choose from. By carefully selecting your research paper topic and utilizing expert advice and writing services, you can produce a high-quality paper that contributes to the ongoing discourse in the field of economics.

Browse 1000 More Economics Research Paper Topics in:

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Advice on Choosing Economics Research Paper Topics

Choosing an economics research paper topic can be challenging, especially if you’re not sure where to start. The key is to find a topic that is interesting to you and aligns with your research goals. Here are some expert tips to help you choose a great economics research paper topic:

• Read widely and stay updated : Keep up with the latest news and trends in economics by reading relevant articles, journals, and books. This will help you identify emerging topics and debates that could make for interesting research paper topics.
• Consider your audience : Before selecting a research paper topic, think about who your audience is and what they might be interested in. If you’re writing for an academic audience, you might choose a more technical or specialized topic. However, if you’re writing for a broader audience, you might choose a more accessible or relevant topic.
• Narrow your focus : Economics is a broad field, so it’s important to narrow your focus to a specific topic or question. This will help you avoid getting overwhelmed and allow you to conduct more in-depth research.
• Choose a researchable topic : Make sure the topic you choose is researchable and has enough literature available for you to build upon. You don’t want to select a topic that has little research available, as this will limit your ability to produce a strong paper.
• Consider your research goals : What do you hope to achieve with your research paper? Are you looking to provide a new perspective on a topic, or do you want to contribute to an ongoing debate? Your research goals can help guide you in choosing a relevant and impactful topic.
• Seek advice from your professor or mentor : If you’re still having trouble choosing a research paper topic, don’t hesitate to seek advice from your professor or mentor. They can provide valuable insights and point you in the direction of relevant literature.

In summary, choosing an economics research paper topic requires careful consideration and planning. By reading widely, narrowing your focus, and considering your audience and research goals, you can select a topic that is both interesting and impactful. Remember to seek advice from your professor or mentor if you need help along the way.

How to Write an Economics Research Paper

A well-written economics research paper should be clear, concise, and well-organized. Here are some general tips on how to write an economics research paper:

• Choose a good topic : Select a topic that is interesting and relevant to your area of study. Conduct preliminary research to ensure that you have enough information to support your arguments.
• Develop a thesis statement : Your thesis statement should be a clear and concise statement that summarizes the main point of your paper.
• Gather information : Conduct research using reliable sources such as academic journals, books, and government publications. Take detailed notes and organize them according to your outline.
• Create an outline : An outline is a roadmap for your paper that helps you organize your thoughts and arguments. Your outline should include an introduction, main points, and a conclusion.
• Write the paper : Use your outline to write your paper. Start with an introduction that grabs the reader’s attention and includes your thesis statement. The body of your paper should include your main arguments, supported by evidence and examples. End with a conclusion that summarizes your main points and restates your thesis statement.
• Edit and proofread : After you have completed your paper, read through it carefully to check for errors in grammar, spelling, and punctuation. Make sure that your arguments are well-supported and that your paper flows logically.
• Cite your sources : Be sure to cite all sources used in your paper using the appropriate citation style. This helps to avoid plagiarism and gives credit to the original authors of the ideas you are using.

By following these steps, you can create a well-written and effective economics research paper. Remember to take your time and be thorough in your research and writing, and always seek feedback from your instructor or peers to improve your work.

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Homelessness and the Persistence of Deprivation: Income, Employment, and Safety Net Participation

Homelessness is arguably the most extreme hardship associated with poverty in the United States, yet people experiencing homelessness are excluded from official poverty statistics and much of the extreme poverty literature. This paper provides the most detailed and accurate portrait to date of the level and persistence of material disadvantage faced by this population, including the first national estimates of income, employment, and safety net participation based on administrative data. Starting from the first large and nationally representative sample of adults recorded as sheltered and unsheltered homeless taken from the 2010 Census, we link restricted-use longitudinal tax records and administrative data on the Supplemental Nutrition Assistance Program (SNAP), Medicare, Medicaid, Disability Insurance (DI), Supplemental Security Income (SSI), veterans’ benefits, housing assistance, and mortality. Nearly half of these adults had formal employment in the year they were observed as homeless, and nearly all either worked or were reached by at least one safety net program. Nevertheless, their incomes remained low for the decade surrounding an observed period of homelessness, suggesting that homelessness tends to arise in the context of long-term, severe deprivation rather than large and sudden losses of income. People appear to experience homelessness because they are very poor despite being connected to the labor market and safety net, with low permanent incomes leaving them vulnerable to the loss of housing when met with even modest disruptions to life circumstances.

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Errors in reporting and imputation of government benefits and their implications, what leads to measurement errors evidence from reports of program participation in three surveys, certification and recertification in welfare programs: what happens when automation goes wrong.

“Friend-shoring” as a panacea to Western critical mineral supply chain vulnerabilities

• Original Paper
• Published: 17 October 2023

Cite this article

• Vlado Vivoda   ORCID: orcid.org/0000-0002-0105-1702 1 &
• Ron Matthews   ORCID: orcid.org/0000-0002-5823-5473 1  

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This study elucidates the emerging concept of “friend-shoring,” a strategy anchored in fortifying supply chains through political and strategic alignment. Central to our investigation is the Minerals Security Partnership (MSP), representing the first strategic application of the friend-shoring principle. The MSP unites nations committed to forging sustainable and ethical supply chains for critical minerals. While the primary objective of friend-shoring is to alleviate vulnerabilities in Western critical mineral supply chains, its broader implications encompass economic, geopolitical, environmental, and nationalistic objectives. The paper critically evaluates the advantages and potential pitfalls of friend-shoring, emphasizing the need to balance economic feasibility with adherence to robust environmental, social, and governance (ESG) standards. In the backdrop of China’s significant role, yet nuanced position in the critical mineral supply chain, the study offers insights into how the MSP can enhance the supply chain’s effectiveness. The paper culminates by spotlighting areas for future research, advocating a collaborative and interdisciplinary approach to address the multifaceted challenges tied to the security of critical mineral supply.

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Securing Supply Chain Resiliency for Critical Rare Earth Metals

Current trends in addressing environmental and social risks in mining and mineral supply chains by regulatory and voluntary approaches

Gudrun Franken & Philip Schütte

Mineral Supply Chain Transparency: Soft and Hard Laws on Supply Chains Due Diligence and the Rise of Public-Private Partnerships

Data availability.

Not applicable.

Minerals are naturally occurring substances that often consist of complex combinations of several elements. While some metals can be found in their native form as minerals, it is common for all metals to be classified as minerals.

The strategic significance of critical minerals is not only rooted in their essential role in economic and national securities but also in their relevance to broader strategies concerning the economy, electrification, and other developmental goals.

“Western countries” generally refer to countries in Europe, North America, and Oceania that share similar cultural, political, and economic values and systems.

Solar PV installations, wind energy facilities, and EVs typically demand a higher mineral input compared to their fossil fuel-based alternatives. For instance, an average electric car needs mineral resources sixfold that of a traditional vehicle, while an onshore wind facility consumes minerals at a rate almost nine times greater than a gas-powered plant.

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Vivoda, V., Matthews, R. “Friend-shoring” as a panacea to Western critical mineral supply chain vulnerabilities. Miner Econ (2023). https://doi.org/10.1007/s13563-023-00402-1

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