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on History and Philosophy of Economics |
| By: | Advani, Arun; Ash, Elliott; Boltachka, Anton; Cai, David; Rasul, Imran |
| Abstract: | Issues of racial justice and economic inequalities between racial and ethnic groups have risen to the top of public debate. Economists' ability to contribute to these debates is based on the body of race-related research. We study the volume and content of race-related research in economics. We base our analysis on a corpus of 225, 000 economics publications from 1960 to 2020 to which we apply an algorithmic approach to classify race-related work. We present three new facts. First, since 1960 less than 2% of economics publications have been race-related. There is an uptick in such work in the mid 1990s. Among the top-5 journals this is driven by the American Economic Review, Quarterly Journal of Economics and the Journal of Political Economy. Econometrica and the Review of Economic Studies have each cumulatively published fewer than 15 race-related articles since 1960. Second, on content, while over 50% of race-related publications in the 1970s focused on Black individuals, by the 2010s this had fallen to 20%. There has been a steady decline in the share of race-related research on discrimination since the 1980s, with a rise in the share of studies on identity. Finally, we apply our algorithm to NBER and CEPR working papers posted over the last four decades, to study an earlier stage of the research process. We document a balkanization of race-related research into a few fields, and its continued absence from many others -- a result that holds even within the subset of research examining issues of inequality or diversity. We discuss implications of our findings for economists' ability to contribute to debates on race and ethnicity in the economy. |
| JEL: | A11 B41 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19898 |
| By: | Toporowski, Jan |
| Abstract: | With the possible exception of her work on economic methodology, the monetary economics of Victoria Chick lay at the heart of her macroeconomics, and her general approach to economics. Chick’s monetary economics started with her participation in the revival of monetary theory in the wake of the Radcliffe Report, which argued that liquidity rather than money should be the central operational concept for theory and policy. When the monetary revival turned to monetarism, Chick countered by insisting on the monetary nature of macroeconomic variables, rather than confining money to a “monetary sector” that was added on to a “real” economy. She developed this approach by showing how macroeconomic relations were affected by banking evolution, and later rejected the concept of monetary endogeneity based on central bank operations in inter-bank markets. However, the critical part that she gave to monetary innovation in Keynes’s macroeconomics is an original but controversial part of her intellectual legacy. |
| Keywords: | Radcliffe report;Victoria Chick;banking;monetary theory |
| JEL: | E12 E42 E52 G21 |
| Date: | 2026–07–12 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140320 |
| By: | Garg, Prashant; Fetzer, Thiemo |
| Abstract: | We analyze over 44, 000 economics working papers from 1980–2023 using a custom language model to construct knowledge graphs mapping economic concepts and their relationships, distinguishing between general claims and those supported by causal inference methods. The share of causal claims within papers rose from about 4% in 1990 to 28% in 2020, reflecting the “credibility revolution.†Our findings reveal a trade-off between factors enhancing publication in top journals and those driving citation impact. While employing causal inference methods, introducing novel causal relationships, and engaging with less central, specialized concepts increase the likelihood of publication in top 5 journals, these features do not necessarily lead to higher citation counts. Instead, papers focusing on central concepts tend to receive more citations once published. However, papers with intricate, interconnected causal narratives—measured by the complexity and depth of causal channels—are more likely to be both published in top journals and receive more citations. Finally, we observe a decline in reporting null results and increased use of private data, which may hinder transparency and replicability of economics research, highlighting the need for research practices that enhance both credibility and accessibility. |
| JEL: | A10 B41 C18 C80 D83 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19701 |
| By: | Richard S. J. Tol |
| Abstract: | The rich have emitted the bulk of greenhouse gases. The poor suffer the bulk of the impacts. Climate change is a transfer from poor to rich. Climate policy is a transfer from rich to poor. Why, Schelling asked, do people in the Global North care about the descendants of people they do not care about? And, assuming they do, are there no better ways to help them than emission reduction? A prominent economist, Schelling posed his Paradox and Conjecture in a series of papers in the 1980s and 1990s. The economics profession has largely ignored his work, instead focusing on Nordhaus' simpler carbon-as-an-externality framing. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.04322 |
| By: | Ma, Debin; Rubin, Jared |
| Abstract: | This paper revisits the old theses of the contrasting paths to modernization between Japan and China. It develops a new analytical framework regarding the role of ideology and ideological change—Meiji Japan’s decisive turn towards the West pitted against Qing China’s lethargic response to Western imperialism—as the key driver behind these contrasting paths. Our framework and historical narrative highlight the contrast between Tokugawa Japan’s feudal, decentralized political regime and Qing China’s centralized bureaucratic system as a key determinant driving the differential patterns of ideological realignment. We argue that the 1894-95 Japanese naval victory over China could not be justified under the prevailing Imperial Chinese ideology and thus served as the catalyst for China’s subsequent ideological transformation, which occurred via borrowing Japan’s successful Meiji reforms of both institutions and ideology. Our analytical framework, developed from a comparative historical narrative, sheds new insights on the importance of ideology and ideological change for our understanding of political and economic change. |
| Keywords: | China; Japan; Economic development |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19573 |
| By: | Kanbur, Ravi |
| Abstract: | I examine the roots of a recent move away from the post-war social democratic consensus on a predominant role for post-market tax and transfer redistribution, towards transforming the pre-market distribution of income earning capabilities (predistribution). This shift from redistribution to predistribution is underpinned by arguments highlighting (i) incentive costs of redistribution, (ii) the greater moral legitimacy of predistribution and (iii) political economy preference for predistribution. These arguments need to be examined closely on conceptual, empirical and policy grounds and, when this is done, I believe that the case for robust redistribution remains as strong as ever. |
| Keywords: | Redistribution; Predistribution; Political economy |
| JEL: | D31 D63 H20 H23 H53 I31 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19756 |
| By: | Xiaohong Chen (Yale University); Luis Hoderlein (Yale University); Jonas Lieber (Imperial College London) |
| Abstract: | The "deep learning revolution" has led to remarkable success of neural networks in applications across a wide range of fields, such as computer vision, speech recognition, natural language processing, code generation, protein structure prediction, image and video generation, and dynamic control. This review introduces neural networks to economists. Recent advances and challenges in approximation theory, neural network architecture, computation, econometric theory and practice are presented. Finally, we survey the rapidly evolving applications of modern neural networks and Large Language Models in economic research. |
| Date: | 2026–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:cwl:cwldpp:2539 |
| By: | Angelo Tumminelli (Department of Human Sciences, LUMSA University, Rome, Italy; HURfuture Research Center) |
| Abstract: | Beginning with an analysis of the condition of contemporary subjectivity, suspended between the narcissistic temptation of self-gratification and the Promethean drive to manipulate and instrumentalize otherness, this contribution seeks to elucidate the ontological significance of relation as a personal ordo amoris for the existential fulfilment of human life. The ordo amoris indicates the subject's capacity to move beyond the immanence of the self, to open itself to otherness, and to acknowledge a transcendent order of values that illuminates reality, rendering it worthy of appreciation and desire. In view of the possible dysfunctional configurations of the ordo amoris, which manifest themselves in the emergence of psychopathological and narcissistic personalities, the contribution that philosophy and education can offer becomes decisive in directing subjective life towards personal fulfilment. Such fulfilment is achieved precisely through interpersonal relationships and through the recognition of the intrinsic axiological position occupied by every element of reality. (Original paper in Italian; Italian title: Oltre la tendenza narcisistica. La relazione come ordo amoris della soggettivita.) |
| Keywords: | Relation; Narcissism; Ordo amoris; Subjectivity; Anthropology; Person |
| JEL: | A13 Z1 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:lsa:wphurf:wphurf03 |
| By: | Salima Chafiki (LARMODAD - Le laboratoire de recherche en management des organisations, droit des affaires et développement durable (LARMODAD) Faculté des Sciences Juridiques Economiques et Sociales Souissi -Rabat Université Mohammed V de Rabat, Maroc - FSJES Souissi RABAT - Faculté des Sciences juridiques, économiques et sociales Souissi RABAT); Kaoutar El Menzhi (FSJES Souissi RABAT - Faculté des Sciences juridiques, économiques et sociales Souissi RABAT) |
| Abstract: | The purpose of this article is to present a theoretical reflection on the construction of entrepreneurial knowledge in light of research conducted in the field and its developments. Entrepreneurship, as a discipline, has long been regarded as a ‘category error' and a non-sense, as it is based on knowledge that does not belong to it, namely that of economics and management. In this respect, academics have described its body of knowledge as incomplete and unstable. Yet, an increasing number of universities now offer entrepreneurship programs, and the very fact that it is taught demonstrates the existence of a distinct body of knowledge underpinned by a field of study that can be transmitted. However, the question of ‘can entrepreneurship be taught?' has been repeatedly raised ever since researchers began to question its academic legitimacy. However, few studies link the epistemological debate surrounding the absence of a dominant paradigm in entrepreneurship with its actual translation into university teaching frameworks. In this article, we attempt to investigate, in the light of previous research (Kuhn, 1962; Lakatos (1970); Landström, 2020; Fayolle, Verzat & Wapshott, 2016), the extent to which a field of knowledge succeeds in establishing itself as a recognized scientific discipline. Through an analytical and narrative literature review, this article seeks to examine ‘entrepreneurship' across the four dimensions recognized as establishing its academic legitimacy, namely the epistemological, paradigmatic, disciplinary and pedagogical dimensions. We highlight, through each dimension, its uniqueness as a complex phenomenon with multiple and polysemic meanings, as implicitly reflected in the evolution of various interpretations by researchers in the field. This article identifies potential criteria for the disciplinarisation of entrepreneurship, as well as providing an in-depth perspective on the convergences and divergences surrounding its disciplinarisation. |
| Abstract: | Cet article a pour objet d'exposer une réflexion théorique sur la construction du savoir entrepreneurial au regard des recherches menées dans le domaine et de leurs évolutions. L'entrepreneuriat en tant que discipline, a été longtemps considéré comme une category error et un non-sens, car, fondé sur un savoir qui ne lui appartient pas, celui des sciences économiques et de gestion. À cet égard, les scientifiques ont qualifié son savoir d'incomplet et de non stabilisé. Pourtant, de plus en plus d'universités offrent des programmes d'entrepreneuriat, et le fait d'être enseigné prouve l'existence d'un corpus propre adossé à un champ de connaissance qui peut être transmis. Mais la question de « peut-on enseigner l'entrepreneuriat ?» n'a cessé d'être posée depuis que les chercheurs remettent en cause sa légitimité académique. Cependant, peu de travaux articulent le débat épistémologique autour de l'absence d'un paradigme dominant en entrepreneuriat avec sa traduction effective dans les dispositifs universitaires d'enseignement. Nous cherchons dans cet article à investiguer, au regard des travaux antérieurs (Kuhn, 1962 ; Bourdieu (2001) ; Lakatos, 1970 ; Becher (1987) ; Landström, 2020 ; Fayolle & Verzat & Wapshott, 2016) dans quelle mesure un domaine de savoir parvient à se constituer en discipline scientifique reconnue. À travers une revue de littérature analytique et narrative, l'objectif de cet article cherche à questionner l'«entrepreneuriat» sous les quatre dimensions reconnues pour asseoir sa légitimité académique à savoir la dimension épistémologique, la dimension paradigmatique, la dimension disciplinaire et la dimension pédagogique. Nous soulignons, à travers chaque dimension, sa singularité en tant que phénomène complexe d'acception multiple et polysémique telle que tacitement réfléchie par l'évolution des différentes interprétations des chercheurs dans le domaine. Cet article identifie les critères potentiels de disciplinarisation applicables à l'entrepreneuriat ainsi qu'une perspective approfondie des convergences et divergences autour de sa disciplinarisation. |
| Keywords: | Entrepreneurial education, Knowledge production system, Criteria for disciplinary classification, Entrepreneurship, Education entrepreneuriale, Système de production des connaissances, Critère de disciplinarisation, Entrepreneuriat |
| Date: | 2026–06–02 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05642012 |
| By: | Arts, Sam; Melluso, Nicola; Veugelers, Reinhilde |
| Abstract: | New scientific ideas drive progress, yet measuring scientific novelty remains challenging. We use natural language processing to detect the origin and im-pact of new ideas in scientific publications. To validate our methods, we ana-lyze Nobel Prize-winning papers, which likely pioneered impactful new ideas, and literature review papers, which typically consolidate existing knowledge. We also show that novel papers have more intellectual neighbors published after them, indicating they are ahead of their intellectual peers. Finally, papers introducing new ideas, particularly those with greater follow-on reuse, attract more citations. |
| JEL: | O30 O31 O32 O33 I23 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19848 |
| By: | de Moraes, Isaias Albertin (Federal University of ABC) |
| Abstract: | O artigo faz um balanço da trajetória de Paul Singer, economista, militante do Partido dos Trabalhadores e um dos principais intelectuais do campo progressista nas últimas décadas, e de suas contribuições teóricas e práticas - nos diversos cargos públicos que ocupou - para o campo da Economia Solidária. |
| Date: | 2024–09–09 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:2jxah_v1 |
| By: | Goodhart, C. A. E.; Postel-Vinay, Natacha |
| Abstract: | The City of Glasgow Bank failure in 1878, which led to large numbers of unlimited liability shareholders becoming insolvent, generated great public concern about their plight, and led directly to the 1879 Companies Act, which paved the way for the adoption of limited liability for all shareholders, including senior executives. In this article, we focus on the question of why the opportunity was not taken to assign greater liability to ‘insiders’, i.e. those with direct access to information and power over decisions, than to ‘outsiders’ lacking both. We analyse parliamentary and public debates ahead of the passage of the bill, and find that such issues were raised and discussed at the time, but arguments in support of equal shareholder treatment won out. By showing the weak foundations of those arguments, we suggest that an alternative, tiered-liability path could (and should) have been taken, with potentially significant implications for contemporary prudential policy. |
| Keywords: | corporate governance;limited liability;tiered liability;bank risk-taking;financial regulation;financial crises;executive incentives |
| JEL: | G21 G28 G30 G32 G39 N23 K22 K29 L20 |
| Date: | 2026–07–20 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:138733 |
| By: | Matthias Rodemeier; Christoph Semken |
| Abstract: | This paper reviews the growing field of behavioral environmental economics: the study of how cognition, beliefs, and social preferences shape sustainable behavior and the effectiveness and political feasibility of environmental policy. We synthesize recent theoretical, experimental, and empirical contributions, with emphasis on sustainable consumption, green investment, firm behavior, and political economy. We highlight design lessons and open questions for policy and research. |
| Keywords: | behavioral environmental economics, sustainable consumption, environmental policy, energy conservation, green investment, social preferences, carbon pricing, behavioral political economy |
| JEL: | D61 D72 D91 G11 G41 G41 H23 H41 P18 Q50 Q51 Q58 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12847 |
| By: | Cozariuc, Catalina; Laeven, Luc; Popov, Alexander |
| Abstract: | Using data on over 300, 000 scientific articles in 40 top journals across 6 scientific fields, we show that after the adoption of China's National Medium- and Long-Term Plan for the Development of Science and Technology (NMLP) in 2006, China's share of academic publications and citations increased gradually and significantly. The increase is most pronounced in scientific fields that were explicit focus areas of the NMLP (physics, chemistry, biology, and medicine), as opposed to fields that were largely ignored by the NMLP (mathematics and economics). Our evidence provides support for the notion that government spending can spur scientific progress, at least in a centrally planned economy. |
| Keywords: | China; Research and development |
| JEL: | F62 I28 O38 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19887 |
| By: | David Philippy (ICP - Institut Catholique de Paris (ICP), CSO - Centre de sociologie des organisations (Sciences Po, CNRS) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique) |
| Keywords: | Economics, Family |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05690969 |
| By: | Vanessa Ratten (La Trobe University [Melbourne]); Paul Hibbert (University of St Andrews [Scotland]); Eddy Ng; Shamika Almeida; Niluka Jayaweerage (La Trobe University [Melbourne]); Laurent Scaringella (Rennes SB - Rennes School of Business); Huong Nguyen (La Trobe University [Melbourne]); Alfred Presbitero (Deakin University [Melbourne Burwood]); Rajkhush Kumar; Giulio Ferrigno (SSSUP - Scuola Universitaria Superiore Sant'Anna = Sant'Anna School of Advanced Studies [Pisa]); Hugo Pinto (UAlg - Universidade do Algarve - University of Algarve, UC - Universidade de Coimbra = University of Coimbra [Portugal]); Bichen Guan (La Trobe University [Melbourne]) |
| Abstract: | As part of the Journal of Management and Organization's 30th birthday celebration it is important to reflect and consider what is valuable advice. This perspective article is coauthored by a number of academics and brings together their thoughts about value in management practice. An international array of management teachers and researchers provide their advice in the hope of inspiring future generations of management researchers. |
| Keywords: | business, Management, research |
| Date: | 2026–01–19 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05654686 |
| By: | Kumhof, Michael |
| Abstract: | The Chicago Plan, proposed by leading economists during the Great Depression, envisaged the separation of banks into money banks with 100% reserve backing for deposits and credit banks financed through non-monetary liabilities. Fisher (1936) claimed four advantages: (1) Reduction of public debt through a debt-to-equity swap. (2) Reduction of private debts as money creation no longer requires debt creation. (3) Elimination of runs on the payment system. (4) Better control of credit-driven business cycles. Using a DSGE model of the US economy, we find strong support for all four claims. Furthermore, steady state output gains approach 17 percent and monetary policy is much more effective in response to every shock. Monetary policy improves welfare by combining a conventional Taylor rule with a countercyclical rule for the interest rate on treasury loans to credit banks. |
| Keywords: | 100% reserve banking |
| JEL: | E44 E52 G21 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19603 |