Data
Rethinking the CCyB
As central banks rush to replenish bank capital reserves, the countercyclical buffer may need some fine-tuning
Economics Benchmarks 2022 charts
Take a deep dive into the Economics Benchmarks charts, which have just been released for 2022
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
Brazilian governor outlines digital wallet and CBDC plans
Governor says CBDC model should avoid flight from bank deposits
Economics Benchmarks 2022 report – evolving models
Central banks continued to develop their modelling frameworks in 2022, as some longer-term trends in governance structures and research agendas emerged from the data
Earnings power of economists remains above GDP per capita
Emerging market professionals earn lowest median salary, but incomes still more than double national average
Most institutions use time-series models for forecasting
Use of models differs across jurisdictions by income size
More than half of institutions favour semi-structural models
Just 35% of institutions include financial sector in key modelling
Central banks forecast GDP less accurately than inflation
Over half of central banks reviewed models in a bid to project more accurately
Majority of central banks prefer economists with master’s degree
Economists are sponsored more for training than for PhDs
BIS data shows ‘surge’ in OTC derivatives market value
Near 50% increase in space of six months reflects “elevated uncertainty”, BIS says
Economics teams constitute just a fraction of central banks’ total workforce
Most institutions have more policy economists than research colleagues
Staff with PhDs make up 21.3% of average economics department
Four-fifths of advanced economy institutions sponsor economists to undertake PhD qualification
Bank of Lithuania targets 2025 for data governance overhaul
Central bank moves to “hub-and-spoke” structure as it seeks to streamline reporting and analytics
Central banks judge success of research by number of publications
Inflation and exchange rate most topical issues for central banks
Use of centralised data services increases across institutions
Rise of central data teams has gone hand in hand with greater use of alternative data
Alternative data used at most central banks
Non-traditional data such as Google searches widely used to support research and forecasting
Chile’s Costa on tackling inflation, forex interventions and nowcasting
The Central Bank of Chile governor speaks about stubbornly high prices, Fed policy spillovers, reserve buffers, retail CBDC and the need to address unconscious bias
PBoC pushes big techs to hand over user data, report says
Some tech firms are resisting order to supply information to PBoC-led credit-scoring firms
Research economists devote more working time to own projects
On average, own research works consume 25% of policy economists’ working time
Advanced economy institutions tend to produce more papers
Emerging market researchers averaged five papers a year in peer-reviewed journals