The Art and Science of Modeling Economies: A New Approach to Target Setting

July 02, 2019

The setting of calibration targets is one of the most important components of the application of an economic scenario generator (ESG) to risk management. In Conning’s latest white paper, authors Matthew Lightwood and Hal Pedersen discuss a new approach that combines an understanding of central bank monetary policy, historical analysis, and expert judgment to establish credible calibration targets for an ESG. 

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