Journal of Political Economy

The Journal of Political Economy is a monthly peer-reviewed academic journal published by the University of Chicago Press. Established by James Laurence Laughlin in 1892, it covers both theoretical and empirical economics.[1] In the past, the journal published quarterly from its introduction through 1905, ten issues per volume from 1906 through 1921, and bimonthly from 1922 through 2019. The editor-in-chief is Harald Uhlig (University of Chicago).

Journal of Political Economy
DisciplineEconomics
LanguageEnglish
Edited byHarald Uhlig
Publication details
History1892–present
Publisher
FrequencyMonthly
5.247 (2017)
Standard abbreviations
ISO 4J. Political Econ.
Indexing
CODENJLPEAR
ISSN0022-3808 (print)
1537-534X (web)
LCCN08001721
JSTOR00223808
OCLC no.300934604
Links

It is considered one of the top five journals in economics.[2]

Abstracting and indexing

The journal is abstracted and indexed in EBSCO, ProQuest, Research Papers in Economics, Current Contents/Social & Behavioral Sciences, and the Social Sciences Citation Index. According to the Journal Citation Reports, the journal has a 2017 impact factor of 5.247, ranking it 18th out of 353 journals in the category "Economics".[3]

The journal is department-owned University of Chicago journal.[4]

2020 controversy

In 2020, amid the George Floyd protests, the journal became embroiled in a controversy when its editor-in-chief Harald Uhlig made widely criticized remarks about the Black Lives Matter movement and the protests against the killing of George Floyd, comparing the BLM movement to "flat-earthers".[2][5][6][7] Uhlig apologized for his remarks.[2] His remarks brought attention to older comments of his where he described calls for greater diversity in Hollywood films as "strange", and where he said of the NFL kneeling protests, "Would you defend football players waving the confederate flag and dressing in Ku Klux Klan garb during the playing of the national anthem?"[2] Subsequently, there were calls from economists that he resign as editor-in-chief of the Journal of Political Economy, arguing that it was inappropriate for him to be a powerful gatekeeper in the discipline.[2] The advisory board of JPE later put him on leave.[8]

Notable papers

Among the most influential papers that appeared in the Journal of Political Economy are:[9]

  • "The Economics of Exhaustible Resources", by Harold Hotelling; Vol. 39, No. 2 (1931), pp. 137–175. JSTOR 1822328
... stated Hotelling's rule, laid foundations to non-renewable resource economics.[10]
... first to apply econometric methods to a historic question, which triggered the development of Cliometrics.[11]
... highly influential for introducing the Black–Scholes model for option pricing.[12]
  • "Are Government Bonds Net Wealth?", by Robert Barro; Vol. 82, No. 6 (1974), pp. 1095–1117. JSTOR 1830663
... re-introduced the Ricardian equivalence to macroeconomics, pointing out flaws in Keynesian theory.[13][14]
... influential new classical critique of Keynesian macroeconomic modelling.[15]
  • "Endogenous Technological Change", by Paul M. Romer; Vol. 98, No. 5, (1990) pp. S71–S102. JSTOR 2937632
... the second of two papers in which Romer laid foundations to the endogenous growth theory.[16]
  • "Increasing Returns and Economic Geography", by Paul Krugman; Vol. 99, No. 3 (1991), pp. 483–499. JSTOR 2937739
... revived the field of economic geography, introducing the core–periphery model.[17]
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References
  1. Ross B. Emmett (ed.), The Chicago Tradition in Economics 1892-1945, Taylor & Francis, 2002, p. xix.
  2. Casselman, Ben; Tankersley, Jim (2020-06-10). "Economics, Dominated by White Men, Is Roiled by Black Lives Matter". The New York Times. ISSN 0362-4331. Retrieved 2020-06-11.
  3. "Journals Ranked by Impact: Economics". 2017 Journal Citation Reports. Web of Science (Social Sciences ed.). Thomson Reuters. 2018.
  4. Economics; Science (2020-06-10). "Should departments own and control journals?". Marginal REVOLUTION. Retrieved 2020-06-11.
  5. Avery, K. Thor Jensen, Dan. "A top economist compared Black Lives Matter leaders to 'flat-earthers and creationists,' saying 'sensible adults' need to take charge of the conversation". Business Insider. Retrieved 2020-06-11.
  6. Omeokwe, Amara (2020-06-11). "Economist Urged to Drop Post Atop Journal After Criticizing Black Lives Matter". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-06-13.
  7. Cox, Jeff (2020-06-11). "Yellen joins chorus against economist who criticized Black Lives Matter". CNBC. Retrieved 2020-06-13.
  8. "Journal of Political Economy: Editor update". www.journals.uchicago.edu. Archived from the original on 2020. Retrieved 2020-06-13.
  9. Amiguet, Lluis; Gil-Lafuente, Anna M.; Kydland, Finn E.; Merigo, Jose M. (2017). "One Hundred Twenty-Five Years of the Journal of Political Economy: A Bibliometric Overview". Journal of Political Economy. 125. ISSN 1537-534X.
  10. Devarajan, Shantayanan; Fisher, Anthony C. (1981). "Hotelling's 'Economics of Exhaustible Resources': Fifty Years Later". Journal of Economic Literature. 19 (1): 65–73. JSTOR 2724235.
  11. Fogel, Robert William; Engerman, Stanley L. (1989). "Slavery and the Cliometric Revolution". Time on the Cross: The Economics of American Negro Slavery. New York: W. W. Norton. ISBN 978-0-393-31218-8.
  12. Read, Colin (2012). The Rise of the Quants: Marschak, Sharpe, Black, Scholes and Merton. London: Palgrave Macmillan. ISBN 9780230274174.
  13. Hoover, Kevin D. (1988). The New Classical Macroeconomics. Oxford: Basil Blackwell. pp. 140–149. ISBN 978-0-631-17263-5.
  14. White, Lawrence H. (2012). "From Pleasant Deficit Spending to Unpleasant Sovereign Debt Crisis". The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years. Cambridge University Press. pp. 382–411. ISBN 9781107012424.
  15. Thomas, R. L. (1993). Introductory Econometrics: Theory and Applications (2nd ed.). Harlow: Longman. p. 420. ISBN 978-0-582-07378-4.
  16. Romer, David (2011). Advanced Macroeconomics (Fourth ed.). New York: McGraw-Hill. ISBN 9780073511375.
  17. Fujita, M.; Thisse, J.-F. (2002). "Industrial agglomeration under monopolistic competition". Economics of Agglomeration: Cities, Industrial Location and Regional Growth. Cambridge University Press. ISBN 978-0521805247.


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