The ''American Economic Review'' is a monthly

peer-reviewed Peer review is the evaluation of work by one or more people with similar competencies as the producers of the work (peers). It functions as a form of self-regulation by qualified members of a profession within the relevant field. Peer review ...

academic journal An academic journal or scholarly journal is a periodical publication in which scholarship relating to a particular academic discipline is published. Academic journals serve as permanent and transparent forums for the presentation, scrutiny, and d ...

published by the

American Economic Association The American Economic Association (AEA) is a learned society in the field of economics. It publishes several peer-reviewed journals acknowledged in business and academia. There are some 23,000 members. History and Constitution The AEA was esta ...

. First published in 1911, it is considered one of the most prestigious and highly distinguished journals in the field of economics. The current

editor-in-chief An editor-in-chief (EIC), also known as lead editor or chief editor, is a publication's editorial leader who has final responsibility for its operations and policies. The highest-ranking editor of a publication may also be titled editor, managing ...

Esther Duflo Esther Duflo, FBA (; born 25 October 1972) is a French–American economist who is a professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology (MIT). She is the co-founder and co-director of the Ab ...

, an economic professor at the

Massachusetts Institute of Technology The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the ...

. The journal is based in

Pittsburgh Pittsburgh ( ) is a city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County, Pennsylvania, Allegheny County. It is the most populous city in both Allegheny County and Wester ...

. In 2004, the ''American Economic Review'' began requiring "data and code sufficient to permit replication" of a paper's results, which is then posted on the journal's website. Exceptions are made for proprietary data. Until 2017, the May issue of the ''American Economic Review'', titled the ''Papers and Proceedings'' issue, featured the papers presented at the American Economic Association's annual meeting that January. After being selected for presentation, the papers in the ''Papers and Proceedings'' issue did not undergo a formal process of peer review. Starting in 2018, papers presented at the annual meetings have been published in a separate journal, ''

AEA Papers and Proceedings The American Economic Association (AEA) is a learned society in the field of economics. It publishes several peer-reviewed journals acknowledged in business and academia. There are some 23,000 members. History and Constitution The AEA was esta ...

'', which is released annually in May.

History

The American Economic Association was founded in 1885. From 1856 until 1907 the Association published the ''Publications of the American Economic Association.'' The first volume was published 1886 (March) - 1887 (January), in 6 issues. The 2nd volume in 1887-1888 and so on until 1896 (vol. 11). In that same year an issue with 'General Contents and Index of Volumes I to XI appeared. Most of the volumes contained only one text, like for instance volume 4, issue 2 (April 1889) that contained an article by

Sidney Webb Sidney James Webb, 1st Baron Passfield, (13 July 1859 – 13 October 1947) was a British socialist, economist and reformer, who co-founded the London School of Economics. He was an early member of the Fabian Society in 1884, joining, like Geo ...

, entitled ''Socialism in England.'' In December 1897 a new series started, with only two issues. In 1900 the third series started, until 1908, with four issues yearly.All volumes and issues of the ''Publications of the American Economic Association'' are freely available vi
this page
at jstor. The next three years the Association published what was called ''The Economic Bulletin.'' It also appeared in four issues yearly. Every issue of this Bulletin contained a section "Personal and Miscellaneous Notes" and a number of book reviews.Se
this page
on jstor for a complete overview and access to all issues of ''The Economic Bulletin''. During the years 1908 to 1910 appeared the ''American Economic Association Quarterly.'' The header said "Formerly published under the titel of and the numbering continued as third series, volumes 9 to 11. For the ''American Economic Association Quarterly'' se
this page
at jstor. In March 1911 the first issue of ''The American Economic Review'' saw the light.

Notable papers

In 2011 a "Top 20 Committee," consisting of

Kenneth Arrow Kenneth Joseph Arrow (23 August 1921 – 21 February 2017) was an American economist, mathematician, writer, and political theorist. He was the joint winner of the Nobel Memorial Prize in Economic Sciences with John Hicks in 1972. In economics ...

Douglas Bernheim B. Douglas Bernheim is an American professor of Economics, currently the Edward Ames Edmunds Professor of Economics at Stanford University; his previous academic appointments have included an endowed chair in Economics and Business Policy at Pr ...

Martin Feldstein Martin Stuart Feldstein ( ; November 25, 1939 – June 11, 2019) was an American economist. He was the George F. Baker Professor of Economics at Harvard University and the president emeritus of the National Bureau of Economic Research (NBER ...

Daniel McFadden Daniel Little McFadden (born July 29, 1937) is an American econometrician who shared the 2000 Nobel Memorial Prize in Economic Sciences with James Heckman. McFadden's share of the prize was "for his development of theory and methods for analyzing ...

James M. Poterba James Michael "Jim" Poterba, FBA (born July 13, 1958) is an American economist, Mitsui Professor of Economics at the Massachusetts Institute of Technology, and current NBER president and chief executive officer. Early years Poterba was born in N ...

, and

Robert Solow Robert Merton Solow, GCIH (; born August 23, 1924) is an American economist whose work on the theory of economic growth culminated in the exogenous growth model named after him. He is currently Emeritus Institute Professor of Economics at the Ma ...

, selected the following twenty articles to be the most important ones to appear in the journal: * " A Theory of Production" (1928), by

Paul Douglas Paul Howard Douglas (March 26, 1892 – September 24, 1976) was an American politician and Georgist economist. A member of the Democratic Party, he served as a U.S. Senator from Illinois for eighteen years, from 1949 to 1967. During his Senat ...

and Charles Cobb. * "

The Use of Knowledge in Society "The Use of Knowledge in Society" is a scholarly article written by economist Friedrich Hayek, first published in the September 1945 issue of ''The American Economic Review''. Written (along with ''The Meaning of Competition'') as a rebuttal to f ...

" (1945), by

F. A. Hayek Friedrich August von Hayek ( , ; 8 May 189923 March 1992), often referred to by his initials F. A. Hayek, was an Austrian–British economist, Jurisprudence, legal theorist and philosopher who is best known for his defense of classical lib ...

. * " Economic Growth and Income Inequality" (1955), by

Simon Kuznets Simon Smith Kuznets (; rus, Семён Абра́мович Кузне́ц, p=sʲɪˈmʲɵn ɐˈbraməvʲɪtɕ kʊzʲˈnʲɛts; April 30, 1901 – July 8, 1985) was an American economist and statistician who received the 1971 Nobel Memorial Pr ...

. * " The Cost of Capital, Corporation Finance and the Theory of Investment" (1958), by

Franco Modigliani Franco Modigliani (18 June 1918 – 25 September 2003) was an Italian-American economist and the recipient of the 1985 Nobel Memorial Prize in Economics. He was a professor at University of Illinois at Urbana–Champaign, Carnegie Mellon Uni ...

and

Merton Miller Merton Howard Miller (May 16, 1923 – June 3, 2000) was an American economist, and the co-author of the Modigliani–Miller theorem (1958), which proposed the irrelevance of debt-equity structure. He shared the Nobel Memorial Prize in Economic ...

. * " A Theory of Optimum Currency Areas" (1961), by

Robert Mundell Robert Alexander Mundell (October 24, 1932 – April 4, 2021) was a Canadian economist. He was a professor of economics at Columbia University and the Chinese University of Hong Kong. He received the Nobel Memorial Prize in Economic Sciences i ...

. * "Uncertainty and the Welfare Economics of Medical Care" (1963), by

. * "Capital Theory and Investment Behavior" (1963), by

Dale W. Jorgenson Dale Weldeau Jorgenson (May 7, 1933 – June 8, 2022) was the Samuel W. Morris University Professor at Harvard University, teaching in the department of economics and John F. Kennedy School of Government. He served as chairman of the department ...

* " National Debt in a Neoclassical Growth Model" (1965), by Peter A. Diamond. * "The Role of Monetary Policy" (1968), by

Milton Friedman Milton Friedman (; July 31, 1912 – November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the ...

. * "Migration, Unemployment and Development: A Two-Sector Analysis" (1970), by

John R. Harris John Rees Harris (February 7, 1934 – July 7, 2018), Professor of Economics at Boston University, was an American economist known for his work in the field of development economics. Harris earned a PhD in economics from Northwestern University in ...

and

Michael Todaro Michael Paul Todaro (born May 14, 1942) is an American economist and a pioneer in the field of development economics. Todaro earned a PhD in economics from Yale University in 1968 for a thesis titled ''The Urban Employment Problem in Less Develop ...

. * "Optimal Taxation and Public Production I: Production Efficiency" and "Optimal Taxation and Public Production II: Tax Rules" (1971), by Peter A. Diamond and

James Mirrlees Sir James Alexander Mirrlees (5 July 1936 – 29 August 2018) was a British economist and winner of the 1996 Nobel Memorial Prize in Economic Sciences. He was knighted in the 1997 Birthday Honours. Early life and education Born in Minnigaff ...

. * "Production, Information Costs, and Economic Organization" (1972), by

Armen Alchian Armen Albert Alchian (; April 12, 1914February 19, 2013) was an American economist. He spent almost his entire career at the University of California, Los Angeles (UCLA). A major microeconomic theorist, he is known as one of the founders of new i ...

and

Harold Demsetz Harold Demsetz (; May 31, 1930 – January 4, 2019) was an American professor of economics at the University of California at Los Angeles (UCLA). Career Demsetz grew up on the West Side of Chicago, the grandchild of Jewish immigrants from centra ...

. * "Some International Evidence on Output-Inflation Tradeoffs" (1973), by

Robert Lucas, Jr. Robert Emerson Lucas Jr. (born September 15, 1937) is an American economist at the University of Chicago, where he is currently the John Dewey Distinguished Service Professor Emeritus in Economics and the College. Widely regarded as the central ...

* " The Economic Theory of Agency: The Principal’s Problem" (1973), by

Stephen A. Ross Stephen Alan "Steve" Ross (February 3, 1944 – March 3, 2017) was the inaugural Franco Modigliani Professor of Financial Economics at the MIT Sloan School of Management after a long career as the Sterling Professor of Economics and Finance a ...

. * " The Political Economy of the Rent-Seeking Society" (1974), by

Anne Osborn Krueger Anne Osborn Krueger (; born February 12, 1934) is an American economist. She was the World Bank Chief Economist from 1982 to 1986, and the first deputy managing director of the International Monetary Fund (IMF) from 2001 to 2006. She is currently ...

. * " Monopolistic Competition and Optimum Product Diversity" (1977), by

Avinash Dixit Avinash Kamalakar Dixit (born 6 August 1944) is an Indian-American economist. He is the John J. F. Sherrerd '52 University Professor of Economics Emeritus at Princeton University, and has been Distinguished Adjunct Professor of Economics at Lin ...

and

Joseph Stiglitz Joseph Eugene Stiglitz (; born February 9, 1943) is an American New Keynesian economist, a public policy analyst, and a full professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the Joh ...

. * " An Almost Ideal Demand System" (1980), by

Angus Deaton Sir Angus Stewart Deaton (born 19 October 1945) is a British economist and academic. Deaton is currently a Senior Scholar and the Dwight D. Eisenhower Professor of Economics and International Affairs Emeritus at the Princeton School of Public ...

and

John Muellbauer John Norbert Joseph Muellbauer, FBA (born 17 July 1944) is a British applied economist who is a professor at the University of Oxford. He holds several positions at Oxford University including an ''Official Fellowship'' at Nuffield College and a ...

. * "On the Impossibility of Informationally Efficient Markets" (1980), by

Sanford J. Grossman Sanford "Sandy" Jay Grossman (born July 21, 1953) is an American economist and hedge fund manager specializing in quantitative finance. Grossman’s research has spanned the analysis of information in securities markets, corporate structure, prop ...

and Joseph E. Stiglitz. * " Scale Economies, Product Differentiation, and the Pattern of Trade" (1980), by

Paul Krugman Paul Robin Krugman ( ; born February 28, 1953) is an American economist, who is Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for ''The New York Times''. In 2008, Krugman was th ...

. * "Do Stock Prices Move Too Much to Be Justified by Subsequent Changes in Dividends?" (1981), by

Robert J. Shiller Robert James Shiller (born March 29, 1946) is an American economist, academic, and author. As of 2019, he serves as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management's International Center for ...

. Thirteen of those authors have received the

Nobel Memorial Prize in Economic Sciences The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...

. The journal can be accessed online via

JSTOR JSTOR (; short for ''Journal Storage'') is a digital library founded in 1995 in New York City. Originally containing digitized back issues of academic journals, it now encompasses books and other primary sources as well as current issues of j ...

. In both 2006 and 2007, it was the most widely viewed journal of all the 775 journals in JSTOR.

Other notable papers

Other notable papers from the journal include: * " Colonial origins of comparative development" (2001), by

Daron Acemoglu Kamer Daron Acemoğlu (; born September 3, 1967) is a Turkish-born American economist who has taught at the Massachusetts Institute of Technology (MIT) since 1993. He is currently the Elizabeth and James Killian Professor of Economics at MIT. H ...

, Simon Johnson, and James A. Robinson. * "

Growth in a Time of Debt ''Growth in a Time of Debt'', also known by its authors' names as Reinhart–Rogoff, is an economics paper by American economists Carmen Reinhart and Kenneth Rogoff published in a non peer-reviewed issue of the ''American Economic Review'' in 2010. ...

" (May 2010), by

Carmen Reinhart Carmen M. Reinhart (née Castellanos, born October 7, 1955) is a Cuban-American economist and the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School. Previously, she was the Dennis Weatherstone Senior Fe ...

and

Kenneth Rogoff Kenneth Saul Rogoff (born March 22, 1953) is an American economist and chess Grandmaster. He is the Thomas D. Cabot Professor of Public Policy and professor of economics at Harvard University. Early life Rogoff grew up in Rochester, New York. ...

, published in the ''Papers and Proceedings'' issue.
"Some Unsettled Problems of Irrigation,"
by

Katharine Coman Katharine Ellis Coman ( – ) was an American social activist and professor. She was based at the women-only Wellesley College, Massachusetts, where she created new courses in political economy, in line with her personal belief in social change ...

. This was the first article that appeared in the journal, and was reprinted in 2011 due to its continuing significance.

Controversy

In 2016, an anonymous group of economists collaboratively wrote a note alleging academic misconduct by the authors and editor of a paper published in the ''American Economic Review''. The note was published under the name Nicolas Bearbaki in homage to

Nicolas Bourbaki Nicolas Bourbaki () is the collective pseudonym of a group of mathematicians, predominantly French alumni of the École normale supérieure (Paris), École normale supérieure - PSL (ENS). Founded in 1934–1935, the Bourbaki group originally in ...

References

External links

*
1911-1922 volumes
available online at the

Online Books Page The Online Books Page is an index of e-text books available on the Internet. It is edited by John Mark Ockerbloom and is hosted by the library of the University of Pennsylvania. The Online Books Page lists over 2 million books and has several fea ...

{{DEFAULTSORT:American Economic Review Economics journals Publications established in 1911 English-language journals 1911 in economics Academic journals published by learned and professional societies of the United States American Economic Association academic journals Monthly journals