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 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.

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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.

Foreign aid payments have been a key policy response by Global North countries to reduce increased migration flows from the Global South. In this article, we contribute to the literature on the relationship between aid and international migration flows and estimate the contemporaneous effect of bilateral aid payments on bilateral, international migration flows. The fundamental problem in analyzing this relationship is endogeneity, or reverse causality. To address this issue and achieve causal inference, we use a shift-share, or Bartik, instrument. Examining migration flows between 198 origin countries and 16 OECD destination countries over 36 years (1980−2015), we find a positive relationship between aid and migration. A ten-percent increase in aid payments will increase migration by roughly 2 percent. We further document non-linearity in the relationship between aid and migration and find an inverted U-shaped relationship between aid and migration flows. The findings presented here have implications for the design of bilateral and multilateral aid policies and for achieving various United Nations Sustainable Development Goals by stressing the importance of a better coordination between aid and immigration policies.