This is an excellent question. Surprisingly, there are a number of possible interpretations and an enormous number of uses of JEL classification. In addition to the very helpful observation by @Raghu G, there is a bit more to add.
The "JEL" classification system originated with the Journal of Economic Literature and is a standard method of classifying scholarly literature in the field of economics. It is used in many of the AEA's published research materials, from
https://www.aeaweb.org/jel/guide/jel.php
Each JEL category has its own definition. For example,
JEL: C02 – Mathematical MethodsMathematical economics is the application of mathematical methods to represent theories and analyze problems in economics. By convention, the applied methods refer to those beyond simple geometry, such as differential and integral calculus, difference and differential equations, matrix algebra, mathematical programming, and other computational methods. See
https://en.wikipedia.org/wiki/JEL_classification_codes#Mathematical_and_quantitative_methods_JEL:_C_Subcategories
For applications of JEL classifcation, see, for example:
JEL: G21 – Banks; Depository Institutions; Micro Finance Institutions; Mortgages
JEL: G22 – Insurance; Insurance companies
in
https://www.researchgate.net/profile/Amine_Tarazi/publication/228121934_Is_Bank_Income_Diversification_Beneficial_Evidence_from_an_Emerging_Economy/links/0046352cc65fe6b9cb000000.pdf
JEL Classification: C23; I21; J24, where
JEL: C23 – Panel data
JEL: I21 – Analysis of Education
JEL: J24 – Human capital; Skills; Occupational choice; Labor productivity
in
https://www.researchgate.net/publication/228466543_Class_size_effects_on_student_achievement_heterogeneity_across_abilities_and_fields
Article Is Bank Income Diversification Beneficial? Evidence from an ...
Article Class size effects on student achievement: heterogeneity acr...
It is a standard classification used in economics and finance field. In my opinion, the main motivation is to divide the research field into some particular research topics/subfields. Similar attempts on standard classifications can be found in physics (PACS), mathematics (MCS) and other fields. It should help readers to categorize the paper and connect to related papers. It also helps editors to find proper reviewers from particular fields. On the other hand, as the science is evolving, it is practically impossible to have an up-to-date classification and sometimes it can be misleading/outdated. Especially in multidisciplinary research and novel applications it is quite hard to find proper description.
The JEL classification system was developed for use in the Journal of Economic Literature (JEL), and is a standard method of classifying scholarly literature in the field of economics
Sharif Hosen Md Adnan Rahman
I hope the answers will improve your ideas regarding the JEL..
@James F Peters Thanks a lot for an insightful reply.
Having read that, now I am under assumption that these classifications are given and used by publishers for the purpose of categorization. Please correct me if I am wrong?
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