Francesco Sergi – författare

What do economists do in central banks? Why do central banks hire economists? This Element investigates the evolving role of economists and economic knowledge within central banks, arguing that their current centrality is neither self-evident nor historically inevitable. It shows that the influence of economists within central banks is the result of a complex, gradual, and uneven historical process shaped by institutional structures, disciplinary transformations, and shifting relationships between science and policy. Drawing on a rich but dispersed body of literature, the Element traces how economists progressively gained authority through the establishment of statistics departments, the adoption of macroeconometric models, and the emergence of a shared cognitive infrastructure between academia and central banks. Rather than focusing on individuals or doctrines, it examines general trends and institutional shifts across national case studies to show how central banks function as boundary organizations, at the intersection of science and policy.

What do economists do in central banks? Why do central banks hire economists? This Element investigates the evolving role of economists and economic knowledge within central banks, arguing that their current centrality is neither self-evident nor historically inevitable. It shows that the influence of economists within central banks is the result of a complex, gradual, and uneven historical process shaped by institutional structures, disciplinary transformations, and shifting relationships between science and policy. Drawing on a rich but dispersed body of literature, the Element traces how economists progressively gained authority through the establishment of statistics departments, the adoption of macroeconometric models, and the emergence of a shared cognitive infrastructure between academia and central banks. Rather than focusing on individuals or doctrines, it examines general trends and institutional shifts across national case studies to show how central banks function as boundary organizations, at the intersection of science and policy.

What was the role of economists and economics in the making of the European Union? This book sheds light on the activities of a particular type of economic experts: the macroeconomic modellers of the Directorate General for Economic and Financial Affairs (DG II), who built multi-country macroeconomic models of the European Economic Community. These models aim at studying the macroeconomic interactions between national economies and at providing insights about the effects of coordinating (or not) national economic policies. The book documents the origins, challenges, and progress made by DG II’s experts through building these models.This book provides insight into the influence of multi-country models on modern economics. It will be relevant to students and researchers interested in the history of economic thought and the development of macroeconomic policy.