Arbeitspapier

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

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.

Language
Englisch

Bibliographic citation
Series: Kiel Working Paper ; No. 2238

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

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

Handle
Last update
10.03.2025, 11:44 AM CET

Data provider

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Object type

  • Arbeitspapier

Associated

  • Faria, João Ricardo
  • Goel, Rajeev K.
  • Manage, Neela D.
  • Kiel Institute for the World Economy (IfW Kiel)

Time of origin

  • 2023

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