Her reasons are unclear, but a reorganisation of the bank may have been a factor
, oil-rich nations enjoy a windfall from higher crude prices, where does the money go? One place to look is Swiss bank accounts. Sure enough, an increase in oil prices is followed by a spike in deposits held by these countries in financial havens, according to a 2017 paper by Jorgen Juel Andersen ofNorwegian Business School, Niels Johannesen of the University of Copenhagen and their co-authors.
Mr Rijkers is part of a unit that reports to the bank’s chief economist, Pinelopi Goldberg. The team publishes working papers on the understanding that their views do not represent the bank’s. But Mr Rijkers’s collaborative effort, which was leaked to, is not yet among them. It passed an exacting internal review by other researchers in November. But, according to informed sources, publication was blocked by higher officials.
The integrity of the bank’s research is meant to be safeguarded by its chief economist. The position is typically filled by a well-regarded academic, who has both an external reputation to protect and the internal clout to defend their turf. The job was, however, split in 2017 when Paul Romer, a star economist with little managerial finesse, was relieved of his bureaucratic duties. Ms Goldberg was given more managerial power than Mr Romer ended up with, but less than he started with.
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