The Focus of Academic Economics - Before and After the Crisis
Sprache des Vortragstitels:
EAEPE 2018: Evolutionary foundations at a crossroad: Assessments, outcomes and implications for policymakers
Sprache des Tagungstitel:
Has the global financial crisis of 2007ff had a visible impact on the economics profession? To answer this question we 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. 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.