Fostering a Dynamic Academic Ecosystem: Innovative Platforms and Methodologies for Econometrics

This project aims to modernise the academic tradition in Econometrics by exploring optimal formats for academic output, effective evaluation methods, and impactful research topics. By challenging standard practices, we propose innovative alternatives and leverage modern internet platforms to enhance idea exchange and evaluation mechanisms. Our goal is to bring Econometrics into the 21st century, fostering a more dynamic, efficient, and impactful academic environment. Our focus on Econometrics, which is a subfield of Economics that develops statistical tools to answer economic questions, stems from our belief that we can most effectively modernise research practices within our own research field. However, the insights we gain and the platforms we create will be adaptable to other research fields within and outside of Economics in the future. The key questions we aim to address are: What are the optimal formats for academic output? The traditional research article remains the dominant format in academia today. However, the digital age offers a plethora of alternative formats, such as talks, videos, research idea notes, lectures, etc. This project seeks to explore and promote these alternative formats to improve academic exchange and enhance the dissemination and impact of research ideas and findings. What are efficient ways to evaluate academic output? Evaluating academic output is a crucial but challenging aspect of academia. Current metrics, such as the ranking of the journal in which an article is published and citation counts, have significant limitations. Additionally, the current publication system in Economics is inefficient. It offers outsized rewards for publishing in top journals, has long publication lags, necessitates multiple submissions due to high rejection rates, and often involves referees and editors requiring substantial changes based on subjective preferences that may not improve quality. Therefore, this project aims to investigate innovative evaluation methods that complement and potentially replace existing metrics and practices, ensuring a more efficient and equitable assessment of scholarly contributions. We are confident that significant improvements are possible in this sphere, as current editorial practices at leading Economics journals have remained essentially unchanged for at least 50 years. How can research be directed to improve impact? Econometrics, like many fields, often struggles to align research topics with real-world applicability and impact. We will explore strategies to better direct and select research topics, ensuring that the work conducted is not only academically rigorous but also relevant and beneficial to other researchers and society as a whole. Our tools To achieve the ambitious goals outlined in this project, we will leverage a combination of innovative platforms and data-driven research methodologies. Our approach involves three main components: creating the two internet platforms SQARE.org and EconBase.org, explained below, and conducting targeted research to optimise these platforms and to better understand the dynamics of research ideas. The first platform, SQARE.org will introduce a novel quality assessment system for econometric research, using a five-SQARE scale (? to ?????) to provide nuanced evaluations. This platform aims to streamline the assessment process and offer a robust alternative to traditional journal quality signals. The second platform, EconBase.org will serve as a comprehensive hub for econometric research, featuring an integrated research stream, virtual conferences, reading groups, and a research incubator. It will facilitate collaboration, professional development, and trend identification in the field. For a summary of the outputs of this project, please see the corresponding section of the “Approach” statement.