professor of economics
baylor university
The field of economics has both a notoriously slow publication process and a robust "working paper" culture (e.g., the NBER Working Paper Series, SSRN). While it is not unique to economics for papers to be circulated before publication, I am only able to speak to my profession's practice. Research projects in our field often take years to complete, and even more years to publish. In response to these publication lags, a working paper culture emerged wherein unpublished drafts were circulated prior to circulation. Usually this is justified on the grounds that it allows more dynamic feedback from readers which can then be incorporated into the paper before submitting to a journal. But the unintended effect of this practice is to create the illusion among non-economists (particularly lay people unfamiliar with these matters) that the working papers themselves have undergone peer review. This is especially true of some of the more prestigious working paper series such as the NBER working paper series, but it can also extend to any draft. It is imperative therefore that readers of the following manuscripts understand that these papers have not been published, which means they have not undergone the type of peer review that describe published works. Keep this in mind as you read these manuscripts, and I welcome your feedback.