The One Bank Research Agenda aims to improve the coordination and openness of the Bank’s research across all policy areas, to ensure the Bank makes the best use of its data, and to cultivate an extensive research community both within and outside of the Bank.
After extensive consultation with researchers across the Bank and the wider academic community, the Bank has developed five core themes to guide its research:
- Policy frameworks and interactions;
- Evaluating regulation, resolution and market structures;
- Policy operationalisation and implementation;
- New data, methodologies and approaches; and
- Response to fundamental change.
To maximise on interest in the One Bank Research Agenda, Mark Carney, Governor of the Bank of England, also announced two new competitions sponsored by the Bank: a data visualisation competition using the newly released Bank datasets, and an annual One Bank research paper competition.
The Governor summarised today’s launch of the One Bank Research Agenda, saying: “Economies are complex, dynamic and constantly evolving systems that are underpinned by social interactions and behavioural change, shaped by fundamental forces like technology and globalisation and supported – or at times disrupted – by finance.
“Policymakers need research to help understand these phenomena and to craft our responses to them. And research can make some of its most effective contributions by speaking to the priorities of policy.
“Research can help us to discover insights and build them into our policymaking processes.
By focussing on a clear set of research priorities, by opening up our datasets, and by creating tighter links between policymakers and researchers, both within the Bank and across the broader research community, we can advance our mission – promoting the good of the people of the United Kingdom.”