My new, outstanding colleague in Econ, Frank Mixon, and his co-author, Kumal Upadhyaya, have a new paper titled "Blogometrics" that's worth a look.
The authors find a strong correlation between research productivity and blog popularity. There's also a nice narrative in the paper about some of the gems in the blogosphere, such as Marginal Revolution, Core Economics, and Environmental Economics.
Unfortunately, the EWOT blog was still in its infant stages when the paper was developed, which means it does not appear in any of the results.
