The Focus of Academic Economics: Before and after the Crisis

33 Pages Posted: 9 Aug 2018

See all articles by Ernest Aigner

Ernest Aigner

Vienna University of Economics and Business - Department of Socioeconomics

Matthias Aistleitner

Johannes Kepler University - ICAE

Florentin Gloetzl

Johannes Kepler University - Dept. of Economics

Jakob Kapeller

University of Duisburg-Essen - Institute for Socio-Economics; University of Linz - Institute for Comprehensive Analysis of the Economy (ICAE)

Date Written: May 22, 2018

Abstract

Has the global financial crisis of 2007ff had a visible impact on the economics profession? To answer this question we employ a bibliometric approach and compare the content and orientation of economic literature before and after the crisis with reference to two different samples: A large-scale sample consisting of more than 440,000 articles published between 1956 and 2016 and a smaller sample of 400 top-cited papers before and after the crisis. Our results suggest that – unlike the Great Depression of the 1930s – the current financial crisis did not lead to any major theoretical or methodological changes in contemporary economics, although the topic of financial instability received increased attention after the crisis.

Keywords: crisis, economics profession, economic journals, keyword analysis, paradigmatic development

JEL Classification: A14, B20, B26, G01, N00, N01

Suggested Citation

Aigner, Ernest and Aistleitner, Matthias and Gloetzl, Florentin and Kapeller, Jakob, The Focus of Academic Economics: Before and after the Crisis (May 22, 2018). Institute for New Economic Thinking Working Paper Series No. 75. Available at SSRN: https://ssrn.com/abstract=3228774 or http://dx.doi.org/10.2139/ssrn.3228774

Ernest Aigner

Vienna University of Economics and Business - Department of Socioeconomics ( email )

Vienna
Austria

Matthias Aistleitner

Johannes Kepler University - ICAE ( email )

Linz
Austria

Florentin Gloetzl

Johannes Kepler University - Dept. of Economics ( email )

Linz
Austria

Jakob Kapeller (Contact Author)

University of Duisburg-Essen - Institute for Socio-Economics ( email )

Lotharstraße 65
Duisburg, 47057
Germany

University of Linz - Institute for Comprehensive Analysis of the Economy (ICAE) ( email )

Freistädterstraße 315
A-4040 Linz
Austria

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