1. TOPICS AND GEOGRAPHICAL DIFFUSION OF KNOWLEDGE IN TOP ECONOMIC JOURNALS
- Author
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Magda Fontana, Fabio Montobbio, and Paolo Racca
- Subjects
Topic model ,Economics and Econometrics ,Diffusion (acoustics) ,EUROPE ,Economics of Science, Home bias effect, Topic Modeling ,Home bias effect ,Diffusion of Knowledge ,Citations ,Distribution (economics) ,Sample (statistics) ,DETERMINANTS ,Settore SECS-P/01 - ECONOMIA POLITICA ,Geography of Science ,Economic Journals ,Economic Discipline ,Topic Modeling ,SPILLOVERS ,0502 economics and business ,Economics ,Regional science ,050207 economics ,UNIVERSITIES ,DEPARTMENTS ,050205 econometrics ,Economics of science ,business.industry ,05 social sciences ,PATENT CITATIONS, EUROPE, NETWORKS, UNIVERSITIES, PERFORMANCE, DETERMINANTS, DEPARTMENTS, SPILLOVERS, AMERICAN, FIELDS ,AMERICAN ,PERFORMANCE ,FIELDS ,General Business, Management and Accounting ,NETWORKS ,Bias effect ,Obsolescence ,PATENT CITATIONS ,Economics of Science ,Citation ,business - Abstract
We study the evolution of topics in economics and their geographical specialization by analyzing 13,233 papers from seven top journals between 1985 and 2012 and their forward citations. The share of U.S. publications declines from 75% to 64% with a corresponding increase of the European share from 12% to 24%. We use topic modeling and document the evolution of the discipline over 27 years. We estimate, with a quasi‐structural model, the citation lag distribution for 18 different topics and three large geographical areas. The modal citation lag is about 6.7 years in the entire sample and 4.8 years for citations from the top 100 journals. We quantify (1) the home bias effect in citations, (2) how it fades away over time, (3) the long lasting impact of U.S. publications vis‐a‐vis other geographical areas, and (4) the higher speed of diffusion and faster obsolescence in the United States. (JEL A14, I23, O33, A11)
- Published
- 2019