The members of the model group also actively participate in the discussions as the judgmental forecast evolves, focusing in particular on the consistency between the adjustment factors that would be required to impose the judgmental forecast on the model and the pattern of adjustment factors in the “pure” model forecast.
Benoît Cœuré: Rethinking economics after the crisis Introductory remarks by Mr Benoît Cœuré, Member of the Executive Board of the European Central Bank, during the panel discussion at the Third Conference of the ECB Macroprudential Research Network, Frankfurt am Main, 24 June 2014.