Economic and statistical research and analysis provide fundamental support for the decisions that the Bank of Italy takes in relation to its institutional activity: the definition of monetary policy through the Governor’s participation in the Governing Council of the European Central Bank; the policies for financial stability; the participation in the main international organizations and institutions; and the formulation and assessment of economic policy proposals, above all in the opinions it submits to Parliament and the Government.
The Bank also produces statistics in the fields for which it is competent (e.g. banking and finance and the balance of payments) and bases its empirical analyses and international comparisons on a wealth of data, both its own and of other institutions.
The results of the Bank’s activity in the fields of research, analysis and statistical information are disseminated in official publications and its scientific series and in essays and articles published in specialized books and reviews. Research projects are discussed in conferences and seminars organized by the Bank and other entities.
Economic and statistical research at the Bank of Italy is mainly conducted in the Economics, Statistics and Research Directorate General; the analysis of economic and financial phenomena is carried out at local level by the units charged with territorial economic research.
As regards international relations and cooperation in the economic and financial fields, the Bank participates, as Italy’s representative, in numerous organizations and institutions; it also provides support for the Government’s decisions.
In addition, the Bank fosters training and consultancy initiatives to enhance the skills of central banks and regulatory authorities of countries preparing to join the euro area or applying to join the European Union and of other emerging economies.