Ellison, G.
NBER Working Paper No. 13272
Issued in July 2007
"Over the past decade there has been a decline in the fraction of papers in top economics journals written by economists from the highest-ranked economics departments. This paper documents this fact and uses additional data on publications and citations to assess various potential explanations. Several observations are consistent with the hypothesis that the Internet improves the ability of high-profile authors to disseminate their research without going through the traditional peer-review process".
An interesting point about signalling (and reverse multiplier effects) is made in the conclusion:
"More top economists may realize that the publication hassles they have been enduring are not necessary. The peer-review process may also be subject to unravelling: as more top economists withdraw from the process, the signal that publication in a given journal provides is devalued, and this may lead to further withdrawals".
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