The One Bank Research Agenda (OBRA) and the Research Hub are exciting new initiatives designed to enhance the Bank of England’s international intellectual leadership in the areas of its policy responsibilities and support its ambition to be at the forefront of research. The OBRA spans five broad themes, covering all aspects of central banking and focusing in particular on the intersections between policy areas.
Making progress across such a broad agenda requires input from the wider community of academics, policymakers and experts, both within economics and finance and from disciplines well beyond. The Bank wishes to expand its external research connections, collaborate with these experts and begin to crowd-source solutions to key policy questions. To support the opening of our research agenda and learn from external contributors, the Bank also actively engages with the wider research community via publication of datasets, external seminars and lectures by Bank researchers, special sessions at academic conferences, visiting positions at the Bank, and hosting seminars and discussions of policy issues with external academic and central bank researchers.
The OBRA is a long-term agenda and the Bank welcomes external interest in all areas of it. But every six months, the Bank selects a set of topics within the OBRA to prioritise and we particularly welcome interest from external academics, researchers and experts to discuss, and potentially collaborate on, these topics.
Topics for 2017 H1
• Supervisory tools, communication and behaviours, and the interaction with firms and their culture and behaviour, with particular interest in firm leading indicators or heuristics, and in psychological, sociological, behavioural, survey or experimental methods.
• Macroprudential framework (including stress testing), instruments within and beyond the banking sector and transmission mechanisms, including coordination with monetary policy, microprudential policy and internationally.
• Exploiting big data to understand the economy, the financial system and the role of uncertainty, with particular interest in text-based analysis, household and firm micro data, trade repository data and Solvency II data.
• Technological and structural change in money, banking and financial markets, including digital currencies, innovation in financial services, market microstructure and operational resilience in payments.
• Openness and fragmentation of the international economic system, consequences for financing, trade, supply and productivity, and associated distributional effects, including the medium and long term implications of Brexit.
• Evaluating the effects of post-crisis regulatory reforms and fragmentation within the international regulatory framework, including the intended and unintended consequences of regulations on bank behaviour, market liquidity and financial markets, and the future regulatory landscape.
• The future of the monetary policy toolkit, the Bank's balance sheet and monetary operations, including in a low for long environment.
If you are interested in research at the Bank, you are encouraged to review the researcher homepages in the first instance and get in touch with researchers with similar interests to your own. Alternatively, you may also fill in our contact form
and a colleague will respond within a few weeks. If you have any further queries, please contact firstname.lastname@example.org
The Bank has very limited amounts of funding for projects and activities that support the Bank’s research agenda via its Research Donations Committee
(RDC). Further information on the types of funding available and the application process can be found on the attached link. Any queries about the Research Donations Committee should be sent to:MA-RDCSecretary@bankofengland.co.uk
The Bank also operates the Houblon-Norman and George fellowships schemes
. These fellowships are awarded "to promote research into and disseminate knowledge and understanding of the working, interaction and function of financial business institutions in Great Britain and elsewhere and the economic conditions affecting them". Successful applicants are invited to engage in full-time research on an economic or financial topic of their own choice, preferably one that could be studied with particular advantage at the Bank of England. Further details on the application process can be found on the attached link. Any queries on the Fund should be sent to: MA-HNGFund@bankofengland.co.uk