Using data on the B.E. Journals that rank articles into four quality tiers, this paper examines the accuracy of the research evaluation process in economics. We find that submissions by authors with strong publication records and authors affiliated with highly-ranked institutions are significantly more likely to be published in higher tiers. Citation success as measured by RePEc statistics also depends heavily on the overall research records of the authors. Finally and most importantly, we measure how successful the B.E. Journals' editors and their reviewers have been at assigning articles to quality tiers. While, on average, they are able to distinguish more influential from less influential manuscripts, we also observe many assignments that are not compatible with the belief that research quality is reflected by the number of citations.