Applying efficiency measurement techniques to central banks

Loretta Mester

No 03-13, Working Papers from Federal Reserve Bank of Philadelphia

Abstract: This paper reviews the standard techniques of efficiency measurement, discusses some of the issues that arise in applying these standard techniques to central banks, and reviews some of the literature that has attempted to apply these techniques to central banking. The uniqueness of some of the activities of central banking, the difficulty in measuring some of the central banking outputs, and the complicated and multiple objectives pursued by central banks makes application of the standard techniques problematic. However, certain central bank activities do lend themselves to efficiency measurement, e.g., payment services provision.

Keywords: Banks and banking; Central (search for similar items in EconPapers)
Date: 2003
New Economics Papers: this item is included in nep-mon
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