Six Decades of Economic Research at the Bank of England

Abstract

AbstractThis paper discusses the transformation of the content, role, and status of economic research at the Bank of England in the past sixty years. We show how three factors (the policy functions and missions of the Bank, the attitude of its executives toward economics, and its organizational structure) shaped the evolution of in-house economic research at the Bank during three distinctive periods (1960–91; 1992–2007; 2007–14). Our account relies on a broad set of sources and methods (the Bank's publications, archives, interviews with current and former Bank economists, citation analysis, prosopography, and topic modeling).