JEL codes

The Institute for New Economic Thinking takes a broad view of economic research and supports it in many ways: through its main grant program, through working groups it organizes, and via conferences, panels, and other smaller gatherings of scholars across the globe.

Institute scholars normally publish their work in journals and books. While many – but far from all – of this work appears in working papers sponsored by the Institute and other leading research forums, the Institute also attempts to make its research results accessible to a wider public on its website. Below is a sampling of interviews featuring Institute scholars explaining the significance of their research in non-technical terms.

By the Way, Why Does the History of the JEL Codes Matter ?

Full paper is here. Comments are much welcome.And because it’s an epic story (and because I suck at writing abstracts), here is an audio trailer. I thank Paul for his beautiful Memphis accent. 

 

 

 

 

 

 

 

 

 

 

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A History of the JEL Codes : the Making of the "Microeconomics" and "Macroeconomics" Categories [Part 3]

During the 1930s, members of the Econometric Society such as Tinbergen or Fleming, increasingly came to use a slightly transformed version of a pair of words coined by Ragnar Frisch around 1933: “macrodynamics” and “microdynamics.” Yet, it was only in 1990 that Microeconomics and Macroeconomics were established as independent JEL categories.

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A History of the JEL Codes: Should There be a Separate "Economic Theory" Category? [Part 2]

 I've been toying with the disappearance of the Theory category for a while, yet it is still unclear to me how the story below should be interpreted. Does it reflect a change in the pecking order between theory and empirical work, as once suggested by Krugman? A change in theoretical work itself? And if so, how to characterize it? The requirement that applications should be built in theoretical thinking ('applied theory')? Or the standard that a theoretical intuition be presented alongside application/ empirical work in scholarly articles? Read more

A History of the JEL Codes: Classifying Economics During the War [Part 1]

In the spring of 1940, as the war in Europe escalated and the likelihood of American involvement grew greater and greater, scientists understood that they would soon be drafted to help national defense planning. In an effort to control the process, several scholarly oriented institutions, including the Social Science Research Council and the American Council of Learned Societies recommended the establishment of “a national agency for the registry and procurement of scientific personnel.” Christened the National Roster of Scientific and Specialized Personnel, the governmental organization set out to send a general questionnaire and a disciplinary “technical check list” of subject matters to all scientists in the country. Read more

Economic theory declassified?

So, most Nobel Prize exegetes went a long way, this week, toward explaining that asset pricing is not primarily born out of theoretical reflection but out of prize-deserving empirical work.John Cochrane, for instance, writes about efficient markets that: Read more

Economic “fields” as historical objects (not yet)

The notion of “field” is so pervasive that economists hardly pay conscious attention to it. The student is early trained into the habit of classifying knowledge, then papers and colleagues according to their field. You share your office with a labor economist, will be part of a committee recruiting some health economist, and are late with your review of this environmental economics paper (well, that's unlikely). Economic fields draw a map with which economists navigate their profession on a daily basis. Read more