Central banks with larger research teams tend to publish more working papers and peer-reviewed articles, though the moderate correlations in the data from the Economics Benchmarks 2021 imply other factors are also important.

Central Banking found an R² value of 0.55 between the number of research economists and number of working papers published in the past 12 months. For papers published in peer-reviewed journals, the correlation was slightly higher, R² = 0.61. A total of 29 central banks