Fed names academics on 2012 model validation council

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The Federal Reserve Board has named the members of its new model validation council, which was set up to give expert advice and assess the models used in stress tests of banking institutions.

The 2012 model validation council members are: Francis X Diebold, economics professor in the Department of Economics at the University of Pennsylvania (chair); Peter Christoffersen, professor at the Rotman School of Management at the University of Toronto; Mark Flannery, professor at the Warrington College

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