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Examples of open research practices include open data, pre-registration, and replication. Open science proponents argue that making data and codes publicly available enables researchers to evaluate the truth of a claim and improve its credibility. Opponents often counter that replications are costly and that open science efforts are not always rewarded with publication of results. Key findings Pros Open science and research transparency offer the potential to improve empirical economic research's credibility. Sharing data and codes may allow other researchers to detect false-positive findings and increase the visibility and prominence of academic publications. A growing number of free data repositories allow researchers to share information more effectively, thus eliminating the monetary cost of storing data and code. A growing number of simple, low-cost, editorial policies may easily decrease the extent of publication bias. Cons Sharing data in a usable format requires considerable time and effort by knowledgeable people. There is a lack of funding for, and to some extent interest in, replication studies. Transparent practices such as pre-analysis plans may stifle researchers' creativity and possibly prevent important breakthroughs arising from exploratory analysis. There may be substantial upfront costs to transparency and openness and open science efforts are often not rewarded with publication of results. Author's main message Open science and research transparency can lead to improved credibility within empirical economic research, which represents a key input in economic policy design. Nonetheless, there remain concerns surrounding the costs associated with open science and the lack of incentives for transparent research. Despite these concerns, the potential benefits justify the efforts. Researchers and policymakers should thus pay close attention to recent developments in open research that may alleviate some of the main drawbacks, such as encouraging registered reports and editorial policies to promote transparent practices. Download full article (PDF) This article first appeared on IZA World of Labor in November 2019. Reproduced with permission Tweet December 11, 2019 Print Article(s) by this author Transparency in empirical economic researchOpen science can enhance research credibility, but only with the correct incentives December 11, 2019［From IZA］ Articles Column Special Series Newspapers & Magazines Fellows' Works VoxEU Column From IZA Perspectives from Around the World Other Contents RIETI Report Policy Update Keizai Sangyo Journal Communications Newsletter RSS Feed Facebook X YouTube Research Areas Research Programs (FY2024-2028) Research Programs (FY2020-2023) Research Programs (FY2016-2019) Research Programs (FY2011-2015) Policy Research Domains (FY2006-2010) Projects Survey Fellows Research/Policy Papers Discussion Papers (English) Discussion Papers (Japanese) Policy Discussion Papers (English) Policy Discussion Papers (Japanese) Technical Papers (English) Technical Papers (Japanese) Non Technical Summaries List of Articles in Journals Research Digest Discussion Papers Search Publications RIETI Books (English) RIETI Books (Japanese) History of Japan's Trade and Industry Policy Authors' Words Other Publications (English) Other Publications (Japanese) Events Symposiums Workshops BBL Seminars Archived Seminar Series Data JIP Database R-JIP Database CIP Database Industry-Specific Nominal and Real Effective Exchange Rates AMU and AMU Deviation Indicators JSTAR RIETI-TID RIETI FDI Database ICPA Project Links Articles Column Special Series Newspapers & Magazines Fellows' Works VoxEU Column From IZA Perspectives from Around the World Other Contents RIETI Report Policy Update Keizai Sangyo Journal (METI Journal) About RIETI Privacy Policy Site Policy Site Map Help Contact METI Web Site Research Institute of Economy, Trade and Industry, IAA (JCN 6010005005426)JCN: Japan Corporate Number Opinions expressed or implied on this website are solely those of the author, and do not necessarily represent the views of the Research Institute of Economy, Trade and Industry (RIETI).Titles, numbers, specific names, etc. on this website are as of the date of publication. 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