See also the article in Econometrics (2013). Volume 1(3), pages 217-235.
The paper focuses on the robustness of rankings of academic journal quality and research impact of 10 leading econometrics journals taken from the Thomson Reuters ISI Web of Science (ISI) Category of Economics, using citations data from ISI and the highly accessible Research Papers in Economics (RePEc) database that is widely used in economics, finance and related disciplines. The journals are ranked using quantifiable static and dynamic Research Assessment Measures (RAMs), with 15 RAMs from ISI and 5 RAMs from RePEc. The similarities and differences in various RAMs, which are based on alternative weighted and unweighted transformations of citations, are highlighted to show which RAMs are able to provide informational value relative to others. The RAMs include the impact factor, mean citations and non-citations, journal policy, number of high quality papers, and journal influence and article influence. The paper highlight robust rankings based on the harmonic mean of the ranks of 20 RAMs, which in some cases are closely related. It is shown that emphasizing the most widely-used RAM, the 2-year impact factor of a journal, can lead to a distorted evaluation of journal quality, impact and influence relative to the harmonic mean of the ranks.