Staff, functions, and staff costs at central banks: an international comparison with a labor-demand model

Borradores de Economia
Number: 
419
Published: 
Classification JEL: 
E50, J23, J30, C33
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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During the period 2000-2004 central banks sustained a generalized reduction in their staff, which was accompanied, in most cases, with significant increases in staff costs. This could obey to an enhanced interest of central banks in focusing on their core