Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/268493 
Year of Publication: 
2023
Series/Report no.: 
Kiel Working Paper No. 2238
Publisher: 
Kiel Institute for the World Economy (IfW Kiel), Kiel
Abstract: 
This paper provides insights into the apparent seesaw between the generation of theoretical versus empirical economics research over time. A dynamic model considers the incentives of researchers to focus on empirical versus theoretical papers. It yields the main characteristics of the path-changing of economics research, from theoretical-intensive to empirical-focused. The model has two equilibria, one with a higher proportion of theoretical papers and another with a higher proportion of empirical papers. Curiously, the equilibrium with greater theoretical papers is stable, while the one with more empirical papers is a saddle point. This suggests that the current trend of increasing empirical research is unlikely to last.
Subjects: 
economic research
theory
empirics
publications
journals
JEL: 
A11
A19
Document Type: 
Working Paper

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