This EMU Lab event will touch upon the paper that investigates the scientization process in central banks, using the Bank of England (BoE) as a case study. The article proposes a model of the scientized central bank, tied to the idea that the scientization of an organization grows with its willingness to contribute to the relevant science. However, the BoE is contrasted to the ideal type of a scientized central bank.
During the seminar, the authors will explain how the path toward scientization is strategically motivated and varied. It is influenced by factors such as balancing the imperatives of expert credibility and informing policymaking. The event underlines the multifaceted dynamics of the scientization process and calls for more nuanced representations in the academic literature.
The paper can be found here.
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The Economic and Monetary Union Laboratory (EMU Lab) is a collaborative initiative driven by the Tommaso Padoa-Schioppa Chair and the Pierre Werner Chair, aiming to reassess the Economic and Monetary Union's structure in light of current European and global economic conditions.