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Policy Bulletin 01: A fair price for economic modelling? Transparency Required

Chris Loewald, Pamela Mjandana, Konstantin Makrelov

The principle of transparency is the only way that policy makers can understand the limitations of a model and use its outputs effectively to inform policy. In absence of this transparency, there is no accountability and claims cannot be tested. The first ERSA policy bulletin discusses how to use models in policy making and the importance of external scrutiny of policy research.