1 PEJ update

The year 2023 was the last one of transition towards a new steady state for the publication rhythm of the Portuguese Economic Journal (PEJ). From 2024 onwards, we intend to publish 21 articles per year, up from 9–10, which was the target until 2019. The number of new submissions in the 12 months ending in 30 November 2023 was similar to that received in the preceding 12 months: 613. Considering that the rejection rate remained stable at 94%, the objectives are realistic in the long run, even if the number of new submissions were to decrease by more than 40%. The average turnaround time for a first submission decreased slightly to 40 days, which is still above our desired target. Furthermore, the (two-year) impact factor of PEJ remained stable at 1.3 and so the journal remained in Q3 of the Web of Science (Economics) and ascended to Q2 of Scopus (Economics & Econometrics) for CiteScore.

We welcome Ricardo Reis to the Advisory Board of PEJ and Helena Veiga to the executive board (ExB). We also say goodbye to Olaf Ghanizadeh, our Marketing & Communication Director since 2019, and to whom we are extremely grateful for his work to increase the visibility of PEJ. Olaf’s replacement is being chosen as we write this note.

The 16th Annual Meeting of PEJ was held in July at the University of Minho in Braga and was organised by Miguel Portela (chair), Hélia Marreiros, Lígia Pinto, and Luís Sá. Guilherme Carmona was the chair of the Scientific Committee, and Bruno Jullien was the keynote speaker. The record for the number of participants was also beaten. The ExB of PEJ is extremely grateful to all of them for a job well done. Finally, the 4th ConsultAccount award for the best paper presented by a PhD student was won by João Ritto. Once more, we are very grateful to ConsultAccount and Pedro Brinca for their continuing support.

In 2024 the 17th Annual Meeting of PEJ will go back to Faro, hosted by the University of Algarve and organised by CEFAGE-UAlg and CinTurs, from 5 to 7 July 2024. The Local Organising Committee is composed of Pedro Pintassilgo and Hugo Pinto (co-chairs), Ana Paula Barreira, Antónia Correia, Carlos Cândido, Efigénio Rebelo, Jorge Andraz, Luís Coelho, Luís Pereira, João Albino Silva, Marisa Cesário, Nélia Norte, Patrícia Pinto, Rui Nunes, Sérgio Santos, and Sílvia Fernandes. Sandra Sequeira will be the chair of the Scientific Committee and the keynote speakers will be Jaume Roselló Nadal and Richard Tol. The deadline for submissions is 15 March and PhD students can apply for the 5th ConsultAccount award.

2 Special topic: the dual impact of artificial intelligence in economics

Artificial Intelligence (AI), especially of the generative type (e.g. ChatGPT), hit the world economy as a technology shock in 2023. Like many other activities that rely on high-skilled labour, research in Economics now faces the real and potential benefits and costs of the new technology.

The integration of AI into economic research could offer considerable benefits. It improves data analysis and processing and enables the efficient management of large data sets. It is useful for predicting economic trends, facilitates the creation of detailed and complex economic models, automates routine tasks, allows researchers to focus on complex topics, and promotes interdisciplinary approaches by bringing together insights from different fields such as Psychology and Environmental Sciences.

However, the integration of AI into Economics also brings challenges. Data and algorithms could bias research findings, and ethical concerns, particularly with regard to data protection, are crucial. The overuse of AI tools risks losing traditional research skills, and the democratising effect of AI could unintentionally widen the gap between economic sectors.

Adapting to AI in academic journals such as PEJ requires an overhaul of peer review and publication standards to maintain the integrity of research and address the challenges of interdisciplinary collaboration. AI represents a complex landscape in economic research that requires a balanced, ethical approach to reap its benefits while ensuring the quality and integrity of research. In this regard, PEJ takes care to maximise the integrity of its published content and is a member of the Committee on Publication Ethics (COPE). It adheres to the COPE principles for dealing with misconduct and is committed to investigating all allegations in order to maintain the integrity of research.

Following COPE’s recommendations, here are some basic guidelines when submitting your work to PEJ: (i) AI tools (e.g. ChatGPT) cannot be listed as authors; (ii) be transparent and disclose the type of usage you have given to generative AI tools (e.g. data collection, code generation, proofreading, etc.); and (iii) do not forget that your research has to be replicable and so the procedures for other computing tools (e.g. codes, versions, etc.) also apply to generative AI tools.