Disclosure Policy
Submissions to Quantitative Economics
should conform to the disclosure principles which
state:
(1) Every submitted article must state the sources of
financial support for the research it describes.
(2) Each author of a submitted article must identify
each interested party from whom he or she, or a close
relative or partner, has received financial support
summing to at least US$10,000 in the past three years,
in the form of consultant fees, retainers, grants and
the like, or in kind support, such as providing access
to data. If the support in question comes with a
non-disclosure obligation, that fact should be stated,
along with as much information as the obligation
permits. An “interested” party is any individual,
group, or organization that has a financial,
ideological, or political stake related to the
article.
(3) Each author must disclose any paid or unpaid
positions as officer, director, or board member of
relevant non-profit organizations or profit-making
entities held by him or her, or by a close relative or
partner. A “relevant” organization is one whose policy
positions, goals, or financial interests relate to the
article.
(4) If another party had the right to review the paper
prior to its circulation, each author must disclose
this fact.
(5) The corresponding author of a paper reporting
research that involved the collection of data on human
subjects must disclose whether he or she obtained
Institutional Review Board (IRB) approval. If IRB
approval was not obtained, the corresponding author
must state the reason.
(6) The disclosure statements of the authors of
published articles will be made available on the
journal website.
Implementation
Authors will fill out a disclosure statement web form
during the submission process. If the paper involves
several coauthors, each coauthor will receive emails
from our system with URL links taking them to similar
forms for them to complete. The disclosure statement
will be available to referees.
Failure to disclose relevant information at the submission stage may result in reversal of acceptance decisions. If the paper is already published, the journal reserves the right to post a note on the journal’s website and in its printed version notifying readers that the authors of the paper violathehe t Quantitative Economics’ disclosure policy. Violations of the disclosure policy will be brought to the attention of the Executive Committee of the Econometric Society, which will decide on the appropriate course of action in each case.
Quantitative Economics believes that it is in the authors’ best interest to disclose potential conflicts of interest. Disclosure is author-, and paper-specific; a specific relationship may be relevant for one of an author’s papers, but not for another. In cases of uncertainty regarding whether to disclose a particular relationship, a guiding principle should be the answer to the question: “Would I or my institution or a reasonable person be embarrassed if I had not disclosed this relationship and it was subsequently discovered by a journalist, colleague or university administrator?” If the answer to this question is “yes”, the relationship should be disclosed. In the following, we provide some examples to help clarify the policy. Some of these examples draw on the disclosure policy of the NBER, which is similar to that of Quantitative Economics. We encourage authors to visit the NBER website (http://www.nber.org/researchdisclosurepolicy.html) for a list of additional examples.
Examples
Q: The data used in my research are proprietary. They
were obtained from an institution (firm, government,
non-profit organization, etc.) that has requested to
review the results of the study prior to their
dissemination to ensure that the confidentiality of
the data is not unintentionally compromised. Do I need
to disclose this review requirement?
A: Yes. Even if the purpose of the review is to ensure
that the author does not disclose confidential
information, the author should explicitly state in the
disclosure statement that the data agreement involves
a request for review of the findings prior to their
release.
Q: The data used in my study are propriety. They were
obtained while I served as a consultant for a company
four years ago. I have not consulted for this company
since then. Do I need to disclose this consulting
arrangement?
A: Yes. Given that the consulting arrangement resulted
in in-kind compensation, in the form of access to the
data you are using in the current paper, you should
disclose the consulting relationship in your
statement.
Q: I have served as a consultant for the
pharmaceutical industry on several occasions, but not
within the past three years. The paper I submitted
analyzes competition in the pharmaceuticals sector,
but the project was not funded by a private firm,
neither is it related to any consulting arrangements I
currently have with firms in the industry. Should is
disclose my consulting relationship with the industry?
A: Though formally you are not obliged to disclose
relationship that ended more than three years ago,
good judgment would suggest disclosing financial
relationships that could be construed as affecting
your objectivity. In this case, many readers would
likely consider the information on your consulting
relationship relevant, so we would encourage you to
disclose it. Specific firm names are not necessary.
Q: I used to be employed by an oil company 10 years
ago, but I have had no relationship with this company
since then. My paper concerns environmental issues.
Shall I disclose my prior affiliation with the
company?
A: Formally, Quantitative Economics’ policy
does not require disclosure of relationship beyond the
horizon of three years. However, good judgment would
suggest disclosing your past employment in this
company, especially if your paper concerns sensitive
environmental issues.
Q: I have submitted a paper on family planning. Do I
need to disclose my religious beliefs?
A: No. Personal beliefs do not need to be disclosed. Quantitative
Economics’ policy is specifically focused on
disclosure of “conflicts of interest” that arise
because of potential financial/material gains for the
researcher.
Q: During the past three years I have received funding
from a foundation that has a pro-market ideology. My
paper examines the effects of marginal tax rates on
desirable outcomes but was not funded by this
foundation. Do I need to disclose the funding I have
received from this foundation even though it was not
related to the current project?
A: Yes. The foundation would constitute an “interested
party”; you should disclose your relationship even if
the funding was not for this specific paper.
Q: During the past three years, I have received
funding from an aid agency or NGO or foundation that
favors particular approaches to economic development
over others. My paper is relevant to the effectiveness
of one of these approaches, but was not funded by any
of these institutions. Do I need to disclose the
funding I have received for other projects?
A: Yes. The aid agency, NGOs, and foundations would
fall into the category of having “a financial,
ideological, or political stake related to the
article” (based on point (2) of Quantitative
Economics’ policy) or having “policy positions,
goals, or financial interests related to the article”
(based on point (3)of Quantitative Economics’
policy).
Q: I hold stock worth more than $10,000 in companies
in a specific sector and my paper concerns issues
specific to that sector. Shall I disclose my holding?
A: If the stock is held through a mutual fund or
another diversified intermediary, there is no need to
disclose the holding. However, if the stock is held
directly or through a narrowly focused fund, we would
encourage you to disclose it. Please consult the NBER
website for additional examples.
Q: My spouse is a medical doctor and my paper is
related to health care policy. Do I need to disclose
my spouse’s profession?
A: If the study’s findings have no direct effect on
your spouse’s earnings, there is no reason for
disclosure. If your spouse would be directly affected
by the policy you analyze or s/he is involved in
health care reform, then disclosure is necessary.
Q: My spouse is a hedge fund manager and my paper
examines high frequency trading. Do I need to disclose
my spouse’s profession?
A: If your spouse’s fund is not involved in high
frequency trading, there is no need for your
disclosure. If, on the other hand, the fund does high
frequency trading and your study’s findings may
generate financial benefits for those involved in high
frequency trading, you should disclose your spouse’s
affiliation.
Q: What should I do in a case that is not specially
covered or is ambiguous?
A: Quantitative Economics’ policy is still
evolving and is likely to be reviewed in the future.
When something is on the border, it would seem prudent
to disclose it rather than not.