Research function in NMP central banks: A personal account!

Research function in NMP central banks: A personal account!

In this presentation I tried to present some features of the research functions at central banks in emerging economies.

If this function is not well developed central banks should know that this requires high fixed costs,  long activation period of investment and continous investment is needed. But after some time this investment will reward the central bank with economies of scale and scope and can generate positive externalities for the economy as a whole. Central bankers are public servants and should have this in mind when developing research function.
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