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Open research questions in Economic Theory and Policy

218 gap statements mined from Economic Theory and Policy papers in our 7.9M-paper local library, which holds 2,747 papers on the topic — drawn mostly from each paper's own stated research gap, future-work, challenge and limitation notes, and its abstract. The ones listed below are a selection still marked open; each names the study that raised it, with a DOI link where the paper has one.

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What the literature leaves open

  • The existing literature on macroeconomic uncertainty does not provide a unified framework to assess and monitor macroeconomic risk. The paper identifies a gap in the literature, where the existing approaches impose restrictions on the shape and nature of the forecast distribution.

    Mixing It Up: Inflation at Risk · 2026 · DOI

  • It highlights the need to explore the tension between republican mysticism and mathematical gradualism in economic theory.

    Un economista socialista. Léon Walras · 2026 · DOI

  • The lack of clarity in the treatment of sectoral investment shocks. The need for a scenario-based approach to analyse investment effects in a conceptually consistent manner.

    Sectoral Investment in Input-Output Frameworks: A Note on Stamegna et al. (2024) · 2026 · DOI

  • The paper acknowledges the lack of microfoundations and optimization in the Lorenz system. The study notes the difficulty in measuring the parameters of the Lorenz system in the context of economic variables. The paper recognizes the limitations of the mechanical model in capturing the role of institutions, expectations, and information asymmetry in economic dynamics.

    Aplicação das Equações de Lorenz na Macroeconomia: Caos, Atratores e Dinâmica Econômica · 2026 · DOI

  • The paper suggests that future research should focus on developing new macroeconomic models that can capture the complexity of economic systems. The study implies that researchers should explore the application of chaos theory to other areas of economics, such as microeconomics and finance. The paper provides a framework for future research on the application of Lorenz equations to macroeconomic analysis.

    Aplicação das Equações de Lorenz na Macroeconomia: Caos, Atratores e Dinâmica Econômica · 2026 · DOI

  • The existing empirical literature primarily focuses on the effects of inflation targeting on inflation and inflation expectations, with limited evidence on its impact on employment or income distribution. There is a lack of understanding of the mechanisms through which inflation targeting affects income inequality.

    Inflation targeting, Monetary policy, and Inequality · 2026 · DOI

  • It highlights the need to consider the historical accumulation of stocks of wealth and its impact on investment and economic growth. The author notes that the conventional account of the real economy is incomplete and requires a more nuanced understanding of the flow of capital and its impact on investment and economic growth.

    In Search of the Real Economy · 2026 · DOI

  • The study highlights the need for effective tax incentives to promote economic development. The paper notes the challenge of balancing tax incentives with revenue loss.

    ANÁLISE DO IMPACTO DOS PROGRAMAS DE INCENTIVOS FISCAIS NA GERAÇÃO DE EMPREGOS NA INDÚSTRIA E NA RENÚNCIA DE RECEITA DO ESTADO DA BAHIA NO PERÍODO DE 1999 A 2021 · 2024 · DOI

  • The study highlights the need for further research on the effectiveness of tax incentives in promoting economic development.

    ANÁLISE DO IMPACTO DOS PROGRAMAS DE INCENTIVOS FISCAIS NA GERAÇÃO DE EMPREGOS NA INDÚSTRIA E NA RENÚNCIA DE RECEITA DO ESTADO DA BAHIA NO PERÍODO DE 1999 A 2021 · 2024 · DOI

  • Future research could further explore the commercialization of intimacy in the context of tourism. It could examine the implications of the paper's findings for the tourism industry and for policies aimed at promoting more equitable and sustainable tourism development.

    Encontros íntimos: economias afetivas em Cuba e na República Dominicana · 2024 · DOI

  • It highlights the need to explore the use of intimacy in corporate and romantic relationships in the context of transnational tourism.

    Encontros íntimos: economias afetivas em Cuba e na República Dominicana · 2024 · DOI

  • These include the ways market power is defined and measured; the use of accounting data to estimate markups; the quantitative implications of theoretical connections among markups, prices, costs, scale elasticities, and profits; and conflicting evidence on whether greater market power has led to lower investment rates and a lower labor share of income.

    Macroeconomics and Market Power: Context, Implications, and Open Questions · 2019 · DOI

  • Future research could explore the application of the mixed economy framework in different contexts and economies. Further study could be done on the role of social values and community power in economic decision-making. The paper suggests that a more nuanced understanding of the mixed economy and its implications is needed.

    The Nature and Necessity of the Mixed Economy · 1987 · DOI

  • The paper identifies a gap in the dominant ideologies and their failure to provide adequate solutions for economic policy formation. The mixed economy is proposed as a way to fill this gap and provide a more effective and sustainable approach to economic policy.

    The Nature and Necessity of the Mixed Economy · 1987 · DOI

  • The lack of a single and strong mechanism to enforce financial discipline in the Yugoslav economy. The need for a change in overall economic policy to address monetary policy, income distribution, and structural development.

    Monetary disequilibrium and bank reform proposals in Yugoslavia: Paternalism and the economy · 1987 · DOI

  • The study suggests that future research should focus on reducing forecast errors. It notes that combining procedures or forecasts may reduce forecast errors.

    LIMITS OF SHORT‐RUN STABILIZATION POLICY PRESIDENTIAL ADDRESS TO THE WESTERN ECONOMIC ASSOCIATION, JULY 3, 1986 · 1987 · DOI

  • The dominant paradigms have limitations that need to be transcended.

    States, Markets and Private Power in the Developing World: Problems and Possibilities · 1987 · DOI

  • The current development models focus unduly on national income growth and capital formation, neglecting the social, political, and cultural setting. The role of individuals and the private sector in economic development is not adequately considered.

    An Ecology for Economic Change · 1987 · DOI

  • There is a need for a satisfactory answer to the question of what political economy is. There is a lack of pedagogical materials that introduce alternative approaches to economics.

    What is Political Economy? · 1986 · DOI

  • The paper suggests that by 1990, it will be possible to tell for certain whether there is any credence in the economist's conclusions. By 2000, it will be possible to know whether the intervening years have been as bad as predicted.

    Stabilizing an Unstable Economy · 1987 · DOI

  • The state's role in the U.S. economy during the 1920s is a topic of debate among scholars. There is not a simple answer to the question of whether the state became larger and more interventionist or not.

    The Role of the State in the U.S. Economy during the 1920s · 1987 · DOI

  • The period used for computation is relatively short. A few large errors during this period could introduce atypical errors. The study notes that the remaining errors may not be entirely random.

    LIMITS OF SHORT‐RUN STABILIZATION POLICY PRESIDENTIAL ADDRESS TO THE WESTERN ECONOMIC ASSOCIATION, JULY 3, 1986 · 1987 · DOI

  • The significant gap between the Moroccan and Spanish economies - The need for Morocco to invest in human capital, innovation, and industrialization - The challenge of developing a strategy for Morocco to become a platform economy linking Europe…

    LES RÈGLES D’OR POUR QUE L’ÉCONOMIE MAROCAINE DÉPASSE UN JOUR L’ÉCONOMIE ESPAGNOLE: UNE ANALYSE COMPARATIVE DES TRAJECTOIRES ÉCONOMIQUES,DES AVANTAGES STRUCTURELS ET DES STRATÉGIES DE CONVERGENCE DU MAROC ET DE L’ESPAGNE · 2026 · DOI

  • The gap between the Moroccan and Spanish economies is significant - There is a need for strategies to promote Morocco's economic convergence…

    LES RÈGLES D’OR POUR QUE L’ÉCONOMIE MAROCAINE DÉPASSE UN JOUR L’ÉCONOMIE ESPAGNOLE: UNE ANALYSE COMPARATIVE DES TRAJECTOIRES ÉCONOMIQUES,DES AVANTAGES STRUCTURELS ET DES STRATÉGIES DE CONVERGENCE DU MAROC ET DE L’ESPAGNE · 2026 · DOI

  • The paper identifies a gap in the understanding of the 'soft budget constraint' phenomenon. The study aims to fill this gap by examining the impact of soft budget constraints on firms' conduct.

    The Soft Budget Constraint · 1986 · DOI

Most-cited papers in Economic Theory and Policy

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Open questions raised by papers listed on this page include: (1) The lack of clarity in the treatment of sectoral investment shocks (“Sectoral Investment in Input-Output Frameworks: A Note on Stamegna et al. (2024)”, 2026); (2) The paper acknowledges the lack of microfoundations and optimization in the Lorenz system (“Aplicação das Equações de Lorenz na Macroeconomia: Caos, Atratores e Dinâmica…”, 2026); (3) There is a lack of understanding of the mechanisms through which inflation targeting affects income inequality (“Inflation targeting, Monetary policy, and Inequality”, 2026); (4) Future research could further explore the commercialization of intimacy in the context of tourism (“Encontros íntimos: economias afetivas em Cuba e na República Dominicana”, 2024); (5) Future research could explore the application of the mixed economy framework in different contexts and economies (“The Nature and Necessity of the Mixed Economy”, 1987). 218 gap statements have been mined from Economic Theory and Policy papers in our 7.9M-paper local library, which holds 2,747 papers on the topic; the gaps come from whichever of those papers state one. They are mostly the research gaps the authors state and the papers' abstracts, plus future-work, limitations and challenges passages. The ones listed below are a selection still marked open; each names the study that raised it, with a DOI link where the paper has one, so you can read the original claim in context.

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