Full Disclosure at AEA Begins Tomorrow

Although we have previously noted that the American Economic Association has implemented a conflict of interest policy for the various journals it publishes, tomorrow (July 1) is the date the policy goes into effect.  A summary of the requirements for authors submitting to the journals is below:

(1) Every submitted article should state the sources of financial support for the particular research it describes. If none, that fact should be stated.

(2) Each author of a submitted article should identify each interested party from whom he or she has received significant financial support, summing to at least $10,000 in the past three years, in the form of consultant fees, retainers, grants and the like. The disclosure requirement also includes 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. If there are no such sources of funds, that fact should be stated explicitly.  An “interested” party is any individual, group, or organization that has a financial, ideological, or political stake related to the article.

(3) Each author should disclose any paid or unpaid positions as officer, director, or board member of relevant non-profit organizations or profit-making entities. A “relevant” organization is one whose policy positions, goals, or financial interests relate to the article.

(4) The disclosures required above apply to any close relative or partner of any author.

(5) Each author must disclose if another party had the right to review the paper prior to its circulation.

(6) For published articles, information on relevant potential conflicts of interest will be made available to the public.

Full instructions for submissions is at http://www.aeaweb.org/aea_journals/AEA_Disclosure_Policy.pdf.

These requirements seem to have been adopted in the wake of the Great Recession and concerns that some academic economists were not revealing potential conflicts of interest when publishing policy-related research. It will be interesting to see if such requirements spread to other areas, particularly in the social sciences.

If you know in your heart you have nothing to hide, why not disclose?