Economics 2026
Economics departments use multiple coding languages
More than half of central banks use five or more coding languages and tools
Central banks predict growth more accurately than inflation
AI models may offer more precise forecasts
AI impact and usage growing in central bank economics departments
Regional variation exists, but adoption is increasing across the board
Most key projection models capture policy rates
But respondents rarely disclose policy rate forecasts alongside scenarios
Third of key models now employ endogenous financial sector
Multiple channels of monetary transmission rooted in majority models
Central banks complement traditional models with AI
Time series and semi-structural models remain economists’ choices for forecasting
Working paper production linked to number of PhD economists
Central banks averaged output of roughly 10 working papers last year
Third of economics departments say staffing ‘barely sufficient’
Forecasting, policy analysis and research are economists’ top duties
Economists’ average annual salary rises
Incomes have some relation with GDP per capita and central bank size
Economics staff strength increases over two-year period
Departmental size as share of central banks’ workforce widens to 7.7%, on average