Although an important part of the Research Department’s work will still be devoted to the compilation of economic statistics that can be used in economic analysis, greater attention will henceforth be given to monetary policy assessment, econometric modelling, international economic developments, international relations and labour and social research.
The Research Department is developing the technical support systems that are essential for the implementation of an inflation-targeting framework, namely the development of additional and more sophisticated inflation-forecasting models, the investigation of the transmission mechanism between changes in policy instruments and inflation and the design and implementation of a survey-based assessment of inflation expectations.