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Great Expectatrics: Great Papers, Great Journals, Great Econometrics

Author

Listed:
  • Chia-Lin Chang

    (Department of Applied Economics, Department of Finance, National Chung Hsing University, Taichung, Taiwan)

  • Michael McAleer

    (Econometrisch Instituut (Econometric Institute), Faculteit der Economische Wetenschappen (Erasmus School of Economics) Erasmus Universiteit, Tinbergen Instituut (Tinbergen Institute).)

  • Les Oxley

    (Department of Economics and Finance, University of Canterbury, New Zealand)

Abstract

The paper discusses alternative Research Assessment Measures (RAM), with an emphasis on the Thomson Reuters ISI Web of Science database (hereafter ISI). Some analysis and comparisons are also made with data from the SciVerse Scopus database. The various RAM that are calculated annually or updated daily are defined and analysed, including the classic 2-year impact factor (2YIF), 2YIF without journal self citations (2YIF*), 5-year impact factor (5YIF), Immediacy (or zero-year impact factor (0YIF)), Impact Factor Inflation (IFI), Self-citation Threshold Approval Rating (STAR), Eigenfactor score, Article Influence, C3PO (Citation Performance Per Paper Online), h-index, Zinfluence, and PI-BETA (Papers Ignored - By Even The Authors). The RAM are analysed for 10 leading econometrics journals and 4 leading statistics journals. The application to econometrics can be used as a template for other areas in economics, for other scientific disciplines, and as a benchmark for newer journals in a range of disciplines. In addition to evaluating high quality research in leading econometrics journals, the paper also compares econometrics and statistics, alternative RAM, highlights the similarities and differences of the alternative RAM, finds that several RAM capture similar performance characteristics for the leading econometrics and statistics journals, while the new PI-BETA criterion is not highly correlated with any of the other RAM, and hence conveys additional information regarding RAM, highlights major research areas in leading journals in econometrics, and discusses some likely future uses of RAM, and shows that the harmonic mean of 13 RAM provides more robust journal rankings than relying solely on 2YIF.

Suggested Citation

  • Chia-Lin Chang & Michael McAleer & Les Oxley, 2011. "Great Expectatrics: Great Papers, Great Journals, Great Econometrics," Documentos de Trabajo del ICAE 2011-14, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
    • Handle: RePEc:ucm:doicae:1114
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    References listed on IDEAS

    as
    1. Chia‐Lin Chang & Michael McAleer & Les Oxley, 2011. "What Makes A Great Journal Great In Economics? The Singer Not The Song," Journal of Economic Surveys, Wiley Blackwell, vol. 25(2), pages 326-361, April.
    2. Franceschet, Massimo, 2010. "Journal influence factors," Journal of Informetrics, Elsevier, vol. 4(3), pages 239-248.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Research assessment measures; impact factors; Immediacy; Eigenfactor; Article influence; Cited article influence; h-index; C3PO; Zinfluence; PI-BETA; IFI; STAR.;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • Z0 - Other Special Topics - - General

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