Journal of Economic Literature Impact Factor & Information

Publisher: American Economic Association, American Economic Association

Journal description

Presents economics-related survey and review articles, book reviews, and bibliographic indexes to current literature.

Current impact factor: 9.24

Impact Factor Rankings

2015 Impact Factor Available summer 2016
2009 Impact Factor 6.919

Additional details

5-year impact 9.43
Cited half-life >10.0
Immediacy index 0.85
Eigenfactor 0.02
Article influence 9.82
Website Journal of Economic Literature website
Other titles Journal of economic literature
ISSN 0022-0515
OCLC 1788942
Material type Periodical, Internet resource
Document type Journal / Magazine / Newspaper, Internet Resource

Publisher details

American Economic Association

  • Pre-print
    • Author can archive a pre-print version
  • Post-print
    • Author can archive a post-print version
  • Conditions
    • On non-commercial author's website or open access repositories
    • Publisher copyright and source must be acknowledged
    • Eligible UK authors may deposit in OpenDepot
  • Classification

Publications in this journal

  • [Show abstract] [Hide abstract]
    ABSTRACT: I discuss the health transition in the United States, bringing new data to bear on health indicators, and investigating the changing relationship between health, income, and the environment. I argue that scientific advances played an outsize role and that health improvements were largest among the poor. Health improvements were not a precondition for modern economic growth. The gains to health are largest when the economy has moved from "brawn" to "brains" because this is when the wage returns to education are high, leading the healthy to obtain more education. More education may improve use of health knowledge, producing a virtuous cycle.
    Journal of Economic Literature 09/2015; 53(3):503-570. DOI:10.1257/jel.53.3.503
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    ABSTRACT: Volker Nienhaus of INCEIF reviews “History of Islamic Economic Thought: Contributions of Muslim Scholars to Economic Thought and Analysis”, by Abdul Azim Islahi. The Econlit abstract of this book begins: “Explores the contributions of Muslim scholars to economic thought throughout history and the ways in which Muslim ideas reached the European West. Discusses the phases of the development of Islamic economic thought; the Islamic tradition in economic thought (I)—theories of value, market, and pricing; the Islamic tradition in economic thought (II)—production and distribution; the Islamic tradition in economic thought (III)—money and interest; the Islamic tradition in economic thought (IV) —state, finance, and development; the net addition and impact on economic thinking of medieval Europe; and the links between Muslim thought and mainstream economics.” Islahi is Professor in the Islamic Economics Institute at King Abdulaziz University.
    Journal of Economic Literature 09/2015; 53(3). DOI:10.1257/jel.53.3.675.r1
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    ABSTRACT: Bruno S. Sergi of University of Messina and Harvard University reviews “The Philosophy, Politics and Economics of Finance in the 21st Century: From Hubris to Disgrace”, by Patrick O'Sullivan, Nigel F. B. Allington, and Mark Esposito. The Econlit abstract of this book begins: “Twenty-four papers explore topics regarding the philosophy, politics, and economics of finance and present insights into the workings of contemporary finance and its regulation in the early twenty-first century. Papers discuss the nadir of 2008 and its aftermath; asset management—some considerations on performance; risk in the age of crises; financialization; whether Islamic finance is a complement to conventional western finance—underlying principles and viability; stakeholder expectation and its role in decision making in the financial sector; the impact of the subprime financial crisis on the Eastern European transition economies, and why Poland is an outlier; China as cause and victim of the US subprime crisis—the crisis and its impact on China and the Asian economies; default invariance—a naive category theory of law and finance; why Europe needs the liberal Keynes; neologism as theoretical innovation in economics—the case of “financialization”; ethics—from negative regulations to fidelity to the event; the bank, its societal functions, and its practices—conflictual relationships between an economic agent and democracy; the sufficiency economy—a Thai response to financial excesses; ethics should not cloud business or financial decisions—the enduring power of the neoclassical paradigm; regulation and fraud—a critical assessment of accounting information, corporate governance, and complex systems of business control; the psychology of unethical behavior in the finance industry; financial liberalism and new institutional environment—the 2007-08 financial crisis as a (de)regulatory deadlock; naturalizing techniques and naturalized discourses—thoughts on the media's role in the Great Recession; initially less obvious areas where financial interests and pressures are exercising a subtle and perhaps more ideologically charged influence on private or public policy choices; thinking well about financial ethics; developing country perspectives—a look at the Nigerian banking sector crisis; theological and historical perspectives on contemporary accounting; and where finance is headed and how finance and its role in the economy ought ideally to evolve.” O'Sullivan is Professor of Business Ethics and Corporate Social Responsibility at Grenoble École de Management and the University of Warsaw. Allington is Professor of Applied Macroeconomics at Grenoble École de Management and Fellow and Director of Studies in Economics in Downing College at the University of Cambridge. Esposito is Associate Professor of Business and Economics at Grenoble École de Management, a member of the teaching faculty at the Harvard University Extension School, and Senior Associate at the University of Cambridge-CISL.
    Journal of Economic Literature 09/2015; 53(3). DOI:10.1257/jel.53.3.675.r4
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    ABSTRACT: Federal statistical agencies in the United States and analogous agencies elsewhere commonly report official economic statistics as point estimates, without accompanying measures of error. Users of the statistics may incorrectly view them as error free or may incorrectly conjecture error magnitudes. This paper discusses strategies to mitigate misinterpretation of official statistics by communicating uncertainty to the public. Sampling error can be measured using established statistical principles. The challenge is to satisfactorily measure the various forms of nonsampling error. I find it useful to distinguish transitory statistical uncertainty, permanent statistical uncertainty, and conceptual uncertainty. I illustrate how each arises as the Bureau of Economic Analysis periodically revises GDP estimates, the Census Bureau generates household income statistics from surveys with nonresponse, and the Bureau of Labor Statistics seasonally adjusts employment statistics. I anchor my discussion of communication of uncertainty in the contribution of Oskar Morgenstern (1963a), who argued forcefully for agency publication of error estimates for official economic statistics.
    Journal of Economic Literature 09/2015; 53(3). DOI:10.1257/jel.53.3.631
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    ABSTRACT: Important progress has been made in economists' understanding of the Beveridge curve, from its measurement to its expression in canonical labor market models. Yet enduring puzzles remain. Chief among these are the empirical role of vacancies in the recruitment process; the amplitude, comovement, and persistence of cyclical unemployment–vacancy dynamics; and the sources of lateral shifts in the Beveridge curve. The synthesis of these themes identifies several priorities for ongoing research, including the role of entry costs into vacancy creation in shaping Beveridge dynamics; the cyclicality of search intensity, both off and on the job, and its relation to participation and job-to-job transitions; the theory and measurement of mismatch; and the sources of hysteresis in unemployment flows.
    Journal of Economic Literature 09/2015; 53(3). DOI:10.1257/jel.53.3.571
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    ABSTRACT: Martin W. Cripps of University College London reviews “Repeated Games”, by Jean-Francois Mertens, Sylvain Sorin, and Shmuel Zamir. The Econlit abstract of this book begins: “Presents the content of the Center for Operations Research and Econometrics (Université Catholique de Louvain) discussion papers 9420, 9421, and 9422 and published as Repeated Games in 1994. Discusses basic results on normal form games; basic results on extensive form games; the belief space; a general model of repeated games; full information on one side; incomplete information on two sides; stochastic games; extensions and further results; and non-zero-sum games with incomplete information. Includes an additional appendix discussing further developments.” The late Mertens was a Professor at the Université Catholique de Louvain. Sorin is with the Mathematics Department at the Université Pierre et Marie Curie. Zamir is Professor Emeritus and a founding member of the Center for the Study of Rationality at the Hebrew University of Jerusalem and Professor of Economics at the University of Exeter Business School.
    Journal of Economic Literature 09/2015; 53(3). DOI:10.1257/jel.53.3.675.r2
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    ABSTRACT: George Zanjani of Georgia State University reviews “Moral Hazard in Health Insurance”, by Amy Finkelstein. The Econlit abstract of this book begins: “Presents the fifth annual Kenneth J. Arrow lecture by Amy Finkelstein, which examines moral hazard and its implication for health care in the context of contemporary American health care policy. Includes three commentaries by the discussants (Jonathan Gruber, Arrow, and Joseph E. Stiglitz) as well as Arrow's 1963 paper “Uncertainty and the Welfare Economics of Medical Care.”” Finkelstein is Ford Professor of Economics at the Massachusetts Institute of Technology.
    Journal of Economic Literature 09/2015; 53(3). DOI:10.1257/jel.53.3.675.r5
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    ABSTRACT: David L. Kelly of Department of Economics, University of Miami reviews “The United States in a Warming World: The Political Economy of Government, Business, and Public Responses to Climate Change”, by Thomas L. Brewer. The Econlit abstract of this book begins: “Analyzes features of the U.S. economic and political system that are necessary in understanding its responses to climate change. Discusses questions, an analytic framework, and context; business—part of the problem and part of the solution; public perceptions and preferences; state and local governments—and the courts—in a federal system; regulating carbon dioxide and other greenhouse gases; facilitating energy technology innovation and diffusion; strengthening international cooperation; and options for the future—realities, visions, and pathways.” Brewer is Senior Fellow at the International Center for Trade and Sustainable Development in Geneva.
    Journal of Economic Literature 09/2015; 53(3). DOI:10.1257/jel.53.3.675.r7
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    ABSTRACT: Bard Harstad of University of Oslo reviews “Environmental Markets: A Property Rights Approach”, by Terry L. Anderson and Gary D. Libecap. The Econlit abstract of this book begins: “Explores the prospects of using markets to improve environmental quality and resource conservation. Discusses who owns the environment; whether governmental regulation is the solution; property rights for the common pool; local property rights to the commons; the politics of property rights; the move from property rights to markets; tackling the global commons; and property rights and environmental markets.” Anderson is President of the Property and Environment Research Center and Senior Fellow at the Hoover Institution at Stanford University. Libecap is Professor of Corporate Environmental Management in the Donald Bren School of Environmental Science and Management and Professor of Economics at the University of California at Santa Barbara.
    Journal of Economic Literature 09/2015; 53(3). DOI:10.1257/jel.53.3.675.r6
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    ABSTRACT: How does economic science inform the study of sustainable development? In his new book, Jeffrey D. Sachs analyzes the challenges of achieving economic growth while protecting the environment and achieving an equitable distribution of resources. This review presents an overview of this ambitious book with special emphasis on the role of the objectives of local and national leaders and their incentives to pursue the sustainability agenda. Given the huge migration to cities now playing out in the developing world, special attention is paid to the role of urbanization as a cause of sustainability opportunities and challenges.
    Journal of Economic Literature 09/2015; 53(3). DOI:10.1257/jel.53.3.654
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    ABSTRACT: Jeffry Frieden of Harvard University reviews “Strained Relations: US Foreign-Exchange Operations and Monetary Policy in the Twentieth Century”, by Michael D. Bordo, Owen F. Humpage, and Anna J. Schwartz. The Econlit abstract of this book begins: “Explores the evolution of US policy regarding currency market intervention and the interaction of currency market policy with monetary policy, and explores this evolution by drawing on foreign exchange transactions conducted through the Federal Reserve Bank of New York between 1962 and 1995. Considers how changing economic and institutional circumstances and political and bureaucratic factors affected foreign exchange policy. Discusses the evolution of US foreign exchange market intervention—thesis, theory, and institutions; exchange market policy in the United States—precedents and antecedents; introducing the Exchange Stabilization Fund, 1934-61; US intervention during the Bretton Woods era, 1962-73; US intervention and the early dollar float, 1973-81; US foreign exchange market intervention during the Volcker-Greenspan era, 1981-97; lessons from the evolution of US monetary and intervention policies; and foreign exchange market operations in the twenty-first century.” Bordo is a Board of Governors Professor of Economics at Rutgers University. Humpage is a senior economic advisor in the Research Department of the Federal Reserve Bank of Cleveland. The late Schwartz was a research associate of the National Bureau of Economic Research.
    Journal of Economic Literature 09/2015; 53(3). DOI:10.1257/jel.53.3.675.r3
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    ABSTRACT: Peter Schuck catalogs an overwhelming list of US government failures. He points to both structural problems (culture and institutions) and incentives. Despairing of cultural change, Schuck focuses on incentives. He relies on Charles Wolf's theory of nonmarket failures in which “internalities” replace the heavily-studied market failure from externalities (Wolf 1979). Internalities are evidence of a discord between the public goals by which a program is defended and the private goals of its administrators. What might economists contribute? We suggest that economists have neglected internalities because they take group goals as exogenously determined and we defend an alternative tradition in which group goals are endogenously determined.
    Journal of Economic Literature 09/2015; 53(3). DOI:10.1257/jel.53.3.667
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    ABSTRACT: Finn Tarp of UNU-WIDER and University of Copenhagen reviews “The Economics of Food Price Volatility”, by Jean-Paul Chavas, David Hummels, and Brian D. Wright. The Econlit abstract of this book begins: “Nine papers, plus nine comments, present and assess recent research on central issues related to recent food price volatility. Papers discuss influences of agricultural technology on the size and importance of food price variability; corn production shocks in 2012 and beyond—implications for harvest volatility; biofuels, binding constraints, and agricultural commodity price volatility; the evolving relationships between agricultural and energy commodity prices—a shifting-mean vector autoregressive analysis; the question of bubble troubles—rational storage, mean reversion, and runs in commodity prices; bubbles, food prices, and speculation—evidence from the Commodity Futures Trading Commission's daily large trader data files; food price volatility and domestic stabilization policies in developing countries; food price spikes, price insulation, and poverty; and trade insulation as social protection.” Chavas is Anderson-Bascom Professor of Agricultural and Applied Economics at the University of Wisconsin-Madison. Hummels is Professor of Economics in the Krannert School of Management at Purdue University. Wright is Professor of Agricultural and Resource Economics at the University of California at Berkeley.
    Journal of Economic Literature 06/2015; 53(2). DOI:10.1257/jel.53.2.360.r11
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    ABSTRACT: Assaf Razin of Tel Aviv University reviews “Managing the Euro Area Debt Crisis”, by William R. Cline. The Econlit abstract of this book begins: “Addresses the recent debt crisis in Europe and the European Central Bank's commitment to preserve the euro area with purchases of government bonds, and explores the history of the Euro Area debt crisis and makes projections of future debt sustainability. Discusses policy implications, leading policy issues, and model projections; fiscal adjustment, growth, and default risk; the bank-sovereign debt nexus; external adjustment and breakup costs; eurobonds, firewalls, outright monetary transactions, and debt restructuring; European debt simulation model projections—Ireland, Italy, Portugal, and Spain; and debt restructuring and economic prospects in Greece.” Cline is Senior Fellow with the Peterson Institute for International Economics.
    Journal of Economic Literature 06/2015; 53(2). DOI:10.1257/jel.53.2.360.r6
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    ABSTRACT: This survey summarizes the main research findings about teaching economics to undergraduates. After briefly reviewing the history of research on undergraduate economic education, it discusses the status of the economics major—numbers and trends, goals, coursework, outcomes, and the principles courses. Some economic theory is used to explain the likely effects of pedagogical decisions of faculty and the learning choices that students make. Major results from empirical research are reviewed from the professor perspective on such topics as teaching methods, online technology, class size, and textbooks. Studies of student learning are discussed in relation to study time, grades, attendance, math aptitude, and cheating. The last section discusses changes in the composition of faculty who teach undergraduate economics and effects from changes in instructional technology and then presents findings from the research about measuring teaching effectiveness and the value of teacher training.
    Journal of Economic Literature 06/2015; 53(2). DOI:10.1257/jel.53.2.285
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    ABSTRACT: Paul Samuelson's Foundations of Economic Analysis played a major role in defining how economic theory was undertaken for many years after the Second World War. This paper fills out Samuelson's account of the book's origins and corrects some details, making clear his debt to E. B. Wilson and establishes that turning the thesis into a book was a long process. The contents of the book and its reception are then reviewed.
    Journal of Economic Literature 06/2015; 53(2). DOI:10.1257/jel.53.2.326