Inflation targeters tend to pay monetary policy staff more

Salaries tend to rise with GDP per capita but less developed economies pay larger multiples

Central banks with inflation targets and joint inflation/unemployment targets pay their staff more on average than those with other primary goals of policy.

Banks with inflation/joint targets pay an average of $46,778 per year to staff in the monetary policy department. Central banks with other primary goals for monetary policy (money supply targets, fixed exchange rates, and “other”) pay an average of $33,210. Nineteen central banks provided data on salaries for the Monetary Policy Benchmarks

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