Journal of Political Economy explained

Journal of Political Economy
Discipline:	Economics
Editor:	Magne Mogstad
Abbreviation:	J. Political Econ.
Publisher:	University of Chicago Press for the University of Chicago Department of Economics and the University of Chicago Booth School of Business
Frequency:	Monthly
History:	1892–present
Impact:	9.103
Impact-Year:	2020
Website:	http://www.journals.uchicago.edu/toc/jpe/current
Link1:	http://www.journals.uchicago.edu/loi/jpe
Link1-Name:	Online archive
Issn:	0022-3808
Eissn:	1537-534X
Jstor:	00223808
Oclc:	300934604
Lccn:	08001721
Coden:	JLPEAR

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 Magne Mogstad (University of Chicago).

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

JPE Micro and JPE Macro

In 2023, University of Chicago Press announced the establishment of Journal of Political Economy Microeconomics (JPE Micro) and Journal of Political Economy Macroeconomics (JPE Macro), two new journals that are vertically integrated with the Journal of Political Economy.

Abstracting and indexing

The journal is abstracted and indexed in EBSCO, ProQuest, EconLit^[3], 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 2020 impact factor of 9.103, ranking it 4/376 journals in the category "Economics".^[4]

The journal is department-owned University of Chicago journal.^[5]

Notable papers

Among the most influential papers that appeared in the Journal of Political Economy are:^[6]

• "The Economics of Exhaustible Resources", by Harold Hotelling; Vol. 39, No. 2 (1931), pp. 137–175.

... stated Hotelling's rule, laid foundations to non-renewable resource economics.^[7]

• "The Economics of Slavery in the Ante Bellum South", by Alfred H. Conrad and John R. Meyer; Vol. 66, No. 2 (1958), pp. 95–130.

... first to apply econometric methods to a historic question, which triggered the development of Cliometrics.^[8]

• "The Pricing of Options and Corporate Liabilities", by Fischer Black and Myron Scholes; Vol. 81, No. 3 (1973), pp. 637–654.

... highly influential for introducing the Black–Scholes model for option pricing.^[9]

• "Are Government Bonds Net Wealth?", by Robert Barro; Vol. 82, No. 6 (1974), pp. 1095–1117.

... re-introduced the Ricardian equivalence to macroeconomics, pointing out flaws in Keynesian theory.^{[10] [11]}

• "Rules Rather than Discretion: The Inconsistency of Optimal Plans", by Finn E. Kydland and Edward C. Prescott; Vol. 85, No. 3 (1977), pp. 473–492.

... influential new classical critique of Keynesian macroeconomic modelling.^[12]

• "Endogenous Technological Change", by Paul M. Romer; Vol. 98, No. 5, (1990) pp. S71–S102.

... the second of two papers in which Romer laid foundations to the endogenous growth theory.^[13]

• "Increasing Returns and Economic Geography", by Paul Krugman; Vol. 99, No. 3 (1991), pp. 483–499.

... revived the field of economic geography, introducing the core–periphery model.^[14]

Notes and References

1. Ross B. Emmett (ed.), The Chicago Tradition in Economics 1892–1945, Taylor & Francis, 2002, p. xix.
2. News: Casselman. Ben. Tankersley. Jim. 2020-06-10. Economics, Dominated by White Men, Is Roiled by Black Lives Matter. en-US. The New York Times. 2020-06-11. 0362-4331.
3. Web site: Journals Indexed . EconLit . American Economic Association . 2022-02-25.
4. Book: 2021 . Journals Ranked by Impact: Economics . 2020 Journal Citation Reports . . Social Sciences . . Journal Citation Reports .
5. Web site: Economics. Science. 2020-06-10. Should departments own and control journals?. 2020-06-11. Marginal REVOLUTION. en-US.
6. 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 . 1537-534X.
7. Hotelling's 'Economics of Exhaustible Resources': Fifty Years Later . Shantayanan . Devarajan . Anthony C. . Fisher . . 19 . 1 . 1981 . 65–73 . 2724235.
8. Book: 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 . 978-0-393-31218-8 . registration . https://archive.org/details/timeoncross00robe.
9. Book: Read, Colin . 2012 . The Rise of the Quants: Marschak, Sharpe, Black, Scholes and Merton . London . Palgrave Macmillan . 9780230274174.
10. Book: Hoover, Kevin D. . The New Classical Macroeconomics . Oxford . Basil Blackwell . 1988 . 978-0-631-17263-5 . 140–149 .
11. Book: 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 . 382–411 . 9781107012424.
12. Book: Thomas, R. L. . Introductory Econometrics: Theory and Applications . Harlow . Longman . 1993 . 2nd . 978-0-582-07378-4 . 420.
13. Book: Romer, David . 2011 . Advanced Macroeconomics . Fourth . New York . McGraw-Hill . 9780073511375.
14. Book: Fujita, M. . J.-F. . Thisse . 2002 . Industrial agglomeration under monopolistic competition . Economics of Agglomeration: Cities, Industrial Location and Regional Growth . Cambridge University Press . 978-0521805247.