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Quantity, Quality, and Relevance: Central Bank Research, 1990-2003

Author

Listed:
  • Pierre St-Amant
  • Greg Tkacz
  • Annie Guérard-Langlois
  • Louis Morel
Abstract
The authors document the research output of 34 central banks from 1990 to 2003, and use proxies of research inputs to measure the research productivity of central banks over this period. Results are obtained with and without controlling for quality and for policy relevance. The authors find that, overall, central banks have been hiring more researchers and publishing more research since 1990, with the United States accounting for more than half of all published central bank research output, although the European Central Bank is rapidly establishing itself as an important research centre. When controlling for research quality and relevance, the authors generally find that there is no clear relationship between the size of an institution and its productivity. They also find preliminary evidence of positive correlations between the policy relevance and the scientific quality of central bank research. There is only very weak evidence of a positive correlation between the quantity of external partnerships and the productivity of researchers in central banks.

Suggested Citation

  • Pierre St-Amant & Greg Tkacz & Annie Guérard-Langlois & Louis Morel, 2005. "Quantity, Quality, and Relevance: Central Bank Research, 1990-2003," Staff Working Papers 05-37, Bank of Canada.
    • Handle: RePEc:bca:bocawp:05-37
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    References listed on IDEAS

    as
    1. Eijffinger, Sylvester C. W. & de Haan, Jakob & Koedijk, Kees, 2002. "Small is beautiful: measuring the research input and output of European central banks," European Journal of Political Economy, Elsevier, vol. 18(2), pages 365-374, June.
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    Cited by:

    1. Freddy H. Castro & Ingrid Monroy, 2011. "Demanda laboral en la Banca Central: análisis de tendencias 2000-2009," Borradores de Economia 662, Banco de la Republica de Colombia.
    2. Singleton,John, 2010. "Central Banking in the Twentieth Century," Cambridge Books, Cambridge University Press, number 9780521899093, September.
    3. Jorge Ponce, 2010. "A Normative Analysis of Banking Supervision: Independence, Legal Protection and Accountability," Money Affairs, CEMLA, vol. 0(2), pages 141-181, July-Dece.
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    More about this item

    Keywords

    Central bank research;

    JEL classification:

    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other

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