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Monetary and Fiscal Policy Analysis with DSGE Models (DSGE)

Monetary and Fiscal Policy Analysis with DSGE Models

This course, presented by the Institute for Capacity Development, focuses on building, using, and interpreting DSGE models. It aims to familiarize participants with the models and techniques commonly employed by policymakers to analyze monetary and fiscal matters. The course dedicates numerous lectures to addressing model design and implementation issues. It uses region-specific case studies to demonstrate the practical application of these models and their potential contributions to the policymaking process. Additionally, the course explores the benefits and limitations of utilizing these models for policy analysis and advice. 

Read More Topic : General Macroeconomic Analysis

    Target Audience

    Mid-level to senior officials who use Dynamic Stochastic General Equilibrium (DSGE) models in the macroeconomic analysis of monetary and fiscal policy issues.

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    Participants are expected to have an advanced degree in economics or equivalent experience, solid quantitative skills, and a basic knowledge of MATLAB/Octave and Dynare/Iris. It is strongly recommended that applicants have completed the online Monetary Policy Analysis and Forecasting (MPAFx) course. Participants are expected to be comfortable using quantitative software such as EViews and Matlab/Octave, although specific knowledge of these is not required. 

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    Course Objectives

    Upon completion of this course, participants should be able to: 

    • Describe the models and techniques (computation and estimation) that policy makers use in analyzing monetary, fiscal, and structural issues. 
    • Augment or modify the model structure to address an economic policy question. 
    • Apply the DSGE models developed in the course to various policy questions and interpret their results. 
    • Identify the advantages and limitations of the models when used for policy analysis and advice. 
    •  Participants will learn to construct a basic DSGE model from first principles using data specific to their own country in the region. 
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    This two-week course, presented by the IMF’s Institute for Capacity Development, focuses on the use and interpretation of dynamic stochastic general equilibrium (DSGE) models. The emphasis is on applications of fiscal and monetary policies using models with nominal and real rigidities that are commonly used in central banks and ministries of finance. The course relies on case studies relevant for the region to illustrate the application of these models, and to show how they can be used as an input in the policymaking process.
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    Upcoming Offering

    Start date End date Location Delivery Method Session No. Primary & (Interpretation) language Apply
    September 30, 2024 October 11, 2024 Vienna, Austria In-person Training JV 24.30 English Apply online by June 30, 2024
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