But reporting of statistical and supervisory information can be costly, in particular if data initiatives are not well coordinated. Improving the trade-off between costs and benefits requires long-term strategic planning and consultation with industry. Third, policy analysis and statistical work can be integrated and coordinated more closely.
Before launching policy projects, data needs should be carefully considered, and sufficient time should be budgeted for data work. Statistical initiatives have to take into consideration the type and granularity of data needed to conduct good causal evaluation studies. Both require close coordination between statistical and policy departments in central banks. 5. References Amiti, Mary, and David E. Weinstein (2018).