S. Gechert, Bianka Mey, Matej Opatrny, Tomas Havranek, T. D. Stanley, Pedro R. D. Bom, Hristos Doucouliagos, Philipp Heimberger, Zuzana Irsova, Heiko J. Rachinger
{"title":"Conventional wisdom, meta‐analysis, and research revision in economics","authors":"S. Gechert, Bianka Mey, Matej Opatrny, Tomas Havranek, T. D. Stanley, Pedro R. D. Bom, Hristos Doucouliagos, Philipp Heimberger, Zuzana Irsova, Heiko J. Rachinger","doi":"10.1111/joes.12630","DOIUrl":null,"url":null,"abstract":"Over the past several decades, meta‐analysis has emerged as a widely accepted tool to understand economics research. Meta‐analyses often challenge the established conventional wisdom of their respective fields. We systematically review a wide range of influential meta‐analyses in economics and compare them to “conventional wisdom.” After correcting for observable biases, the empirical economic effects are typically much closer to zero and sometimes switch signs. Typically, the relative reduction in effect sizes is 45%–60%.","PeriodicalId":51374,"journal":{"name":"Journal of Economic Surveys","volume":null,"pages":null},"PeriodicalIF":5.9000,"publicationDate":"2024-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Economic Surveys","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1111/joes.12630","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Over the past several decades, meta‐analysis has emerged as a widely accepted tool to understand economics research. Meta‐analyses often challenge the established conventional wisdom of their respective fields. We systematically review a wide range of influential meta‐analyses in economics and compare them to “conventional wisdom.” After correcting for observable biases, the empirical economic effects are typically much closer to zero and sometimes switch signs. Typically, the relative reduction in effect sizes is 45%–60%.
期刊介绍:
As economics becomes increasingly specialized, communication amongst economists becomes even more important. The Journal of Economic Surveys seeks to improve the communication of new ideas. It provides a means by which economists can keep abreast of recent developments beyond their immediate specialization. Areas covered include: - economics - econometrics - economic history - business economics