The path of economics research production: Insights into the seesaw between theory and empirics

Arbeitspapier

This paper provides insights into the apparent seesaw between the generation of theoretical versus empirical economics research over time. A dynamic model considers the incentives of researchers to focus on empirical versus theoretical papers. It yields the main characteristics of the path-changing of economics research, from theoretical-intensive to empirical-focused. The model has two equilibria, one with a higher proportion of theoretical papers and another with a higher proportion of empirical papers. Curiously, the equilibrium with greater theoretical papers is stable, while the one with more empirical papers is a saddle point. This suggests that the current trend of increasing empirical research is unlikely to last.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Kiel Working Paper ; No. 2238

Classification and Topics

• Classification: Wirtschaft ; Role of Economics; Role of Economists; Market for Economists ; General Economics: Other
• Subject: economic research ; theory ; empirics ; publications ; journals

Contributors, Location and Time

• Event: Geistige Schöpfung
• (who): Faria, João Ricardo ; Goel, Rajeev K. ; Manage, Neela D.
• Event: Veröffentlichung
• (who): Kiel Institute for the World Economy (IfW Kiel)
• (where): Kiel
• (when): 2023

Further information

• Handle: http://hdl.handle.net/10419/268493
• Last update: 10.03.2025, 11:44 AM CET