Abstract
1. Adolph C. [2013], Bankers, Bureaucrats and Central Bank Politics: The Myth of Neutrality, Cambridge: Cambridge University Press. Google Scholar
Highlights
The aim of this paper is to present a methodology for measuring the concentration of ideas in central bank research departments based on the network of co-authorships in working paper series publications
Our hypothesis states that an increased number of people employed in economic research should support a greater variety of topics and a lower concentration of co-authorships
Our analysis provides weak evidence that the organisation of economic research supporting a diversified and independent environment improves the achievement of central bank targets
Summary
The aim of this paper is to present a methodology for measuring the concentration of ideas in central bank research departments based on the network of co-authorships in working paper series publications. The application of such a methodology may help support the management of human resources in institutions such as central banks and think tanks. Greater diversity should theoretically protect the decision-making process from psychological biases. If benefits from diversification exist, concentrated research is likely to be vulnerable to the groupthink bias, i.e. taking decisions based on the opinions of a narrow group of people
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