Women need a stronger presence in economics and finance, particularly in research and leadership positions, a Banco de México welcome address published Nov. 10 by the Bank for International Settlements said.
Women’s participation in the economy, academia and finance has improved over recent decades, but gaps persist. Published under the title “Welcome address - Fourth Women in Central Banking Workshop,” it called for further support for young women economists.
Greater participation has helped bring women’s talents and a wider range of experiences into economic analysis and decisions. It argued that increasing women’s participation in the economy benefits society and that supporting their research careers can help build professional communities.
The address called for research, debate and openness to new ideas to help central banks understand economic developments and make decisions. It said uncertainty and continuing change make research more necessary, while bringing together people with different backgrounds improves the quality of central banks’ work.
Banco de México said it supports young researchers and stronger links with universities and other academic institutions. It described the workshop as a way to bring women starting research careers closer to central banking through presentations, discussion and contact with economists in academia and central banks.
The event was jointly organised by the Federal Reserve Bank of Dallas, Norges Bank, Banca d’Italia and Banco de México. The address described a two-day programme covering monetary policy, inequality, labour markets and lending, without giving numerical findings or specifying the periods covered by the research.
The first day’s research was to examine how monetary policy and central bank balance sheets interact with liquidity, or the availability of money and funding. Other topics included wealth inequality and differences between households.
Labour market research was to address workers’ and employers’ bargaining power, the balance between demand for workers and available labour, and how power in employment markets affects different groups. The address identified these as questions relevant to central banks.
The second day’s papers were to examine obstacles in markets for goods and credit, alongside changes in how money moves between savers and borrowers. Topics included how delivery risks and differences between companies affect economic decisions, and why companies pay different borrowing rates.
Other research was to examine how difficulties obtaining information and finding lenders affect credit markets. The address also identified the changing relationship between banks and private credit, lending outside the banking system, and how competition for deposits influences banks during financial stress.
