Economic research aims at developing an independent and high quality economic analysis that provides technical support to the mission of Banco de Portugal.
Within the context of the Economics and Research Department (DEE), the following main goals are pursued:
- To provide active advice to the Governor in matters related to monetary policy decision-making in the euro area and to actively participate in the preparation of the Eurosystem agenda themes, namely in the technical support provided to Banco de Portugal’s representatives in Eurosystem Committees;
- To undertake studies which contribute to a more in-depth knowledge of the Portuguese and international economies, to the formulation of economic policies, as well as to the preparation of projections for the main macroeconomic aggregates;
- To contribute to furthering scientific knowledge in economic areas relevant to the mission of Banco de Portugal.
In all these domains, a strong complementarity exists between the regular monitoring of economic developments and the quality of empirical or fundamental studies. Studies developed in the Department cover a broad range of fields, including monetary economics, international economics, labour market, productivity and product market, economic growth and business cycles, banks and regulation, financial economy, fiscal policy, efficiency in the allocation of public resources, and econometric modelling. In this context, four biennial conferences are organised in core thematic areas for the Department. Furthermore, the Department maintains an external seminar programme and regularly organises courses with experts of outstanding international reputation.
The DEE places great importance on core research activities. About one third of the economists in the Department hold a PhD degree. Researchers are strongly encouraged to publish their work in the best specialised international journals, to make presentations in international seminars, and to present research to a more extensive public, via signed articles in Banco de Portugal publications.