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Economics Benchmarks 2022 report – evolving models

Central banks continued to develop their modelling frameworks in 2022

A year of intense volatility, set off by Russia’s invasion of Ukraine, has posed major challenges to central bank economics departments. Many reported implementing changes to their governance structures, modelling frameworks and data collection. Several institutions, particularly in Europe, said they had adapted models to reflect energy price shocks. Meanwhile, as the Economics Benchmarks enter their third year, some longer-term trends and regularities have started to emerge.

Read the full report


PhD proportions

On average worldwide, 19% of central bank economists hold PhDs. Typically, PhD economists are more focused on research roles where the additional academic training is especially important, but most economists perform at least some policy work as well.

The proportion rises to 24% at advanced economy central banks and falls to 14% at emerging market central banks. 

For the full breakdown, use the benchmarking service’s interactive charts to explore the data.

Explore interactive charts
Economics Benchmark Data

Economics data

View the full breakdown of responses to the Economics Benchmarks.

Economics 2023
Economics 2022
Economics 2021
Economics 2020

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