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Star Wars at Central Banks.
- Source :
- Research Department Staff Reports (Federal Reserve Bank of Minneapolis); Feb2021, Issue 620, preceding p1-22, 23p
- Publication Year :
- 2021
-
Abstract
- We investigate the credibility of central bank research by searching for traces of researcher bias, which is a tendency to use undisclosed analytical procedures that raise measured levels of statistical significance (stars) in artificial ways. To conduct our search, we compile a new dataset and borrow 2 bias-detection methods from the literature: the p-curve and z-curve. The results are mixed. The p-curve shows no traces of researcher bias but has a high propensity to produce false negatives. The z-curve shows some traces of researcher bias but requires strong assumptions. We examine those assumptions and challenge their merit. At this point, all that is clear is that central banks produce results with patterns different from those in top economic journals, there being less bunching around the 5 per cent threshold of statistical significance. [ABSTRACT FROM AUTHOR]
- Subjects :
- CENTRAL banking industry
STATISTICAL significance
Subjects
Details
- Language :
- English
- Issue :
- 620
- Database :
- Complementary Index
- Journal :
- Research Department Staff Reports (Federal Reserve Bank of Minneapolis)
- Publication Type :
- Academic Journal
- Accession number :
- 150268244
- Full Text :
- https://doi.org/10.21034/sr.620