Participation in specific initiatives is on a voluntary basis, depending on the skills available and the relevance of the topic for the specific institution. All members can suggest topics, each member can contribute to developing methodologies, results and methodological approaches as well as resulting insights are shared. Relevant policy and research questions are defined in a process that combines topdown and bottom-up elements.
After identifying a relevant policy issue through a  2/10  BIS - Central bankers' speeches  membership survey, the network jointly specifies appropriate empirical models, country teams implement that common methodology for their country-specific data sets, and output is combined using a meta-type analysis.2 Additionally, country teams can conduct variants of the common methodology to explore questions that are of interest for their jurisdiction.