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Common Lisp, which is becoming THE Lisp standard, does not support call by text (FEXPR mechanism in Mac/Franz Lisp). This effect can be obtained using macros. Based on the experience of converting an OPS5 implementation from Franz Lisp to Common Lisp, it is argued that sometimes call by text is needed for efficiency, despite its negative aspects.In the case of languages embedded in a Lisp system, using the macro alternative for call by text can cause marco expansion at execution time. This leads to a some-what less efficient implementation of the embedded language.

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Sometimes an FEXPR is better than a macro

Lichtman, Z
ACM SIGART Bulletin , Volume (97)
Association for Computing MachineryJul 1, 1986

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