{
  "title": "Monetary and Fiscal Policy Analysis with DSGE Models (DSGE)",
  "sourceUrl": "https://www.imf.org/en/capacity-development/training/icdtc/courses/dsge",
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  "summary": "It aims to familiarize participants with the models and techniques commonly employed by policymakers to analyze monetary and fiscal matters.",
  "publishDate": "2024-07-31",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Course presented by the Institute for Capacity Development.\n- Focus: building, using, and interpreting Dynamic Stochastic General Equilibrium (DSGE) models to analyze monetary and fiscal policy.\n- Emphasis on model design and implementation issues, region-specific case studies, and discussion of benefits and limitations of DSGE models for policy analysis and advice.\n- Topic: General Macroeconomics."
    },
    {
      "heading": "Target audience",
      "content": "- Mid-level to senior officials who use Dynamic Stochastic General Equilibrium (DSGE) models in the macroeconomic analysis of monetary and fiscal policy issues."
    },
    {
      "heading": "Qualifications",
      "content": "- Expected: an advanced degree in economics or equivalent experience.\n- Required skills: solid quantitative skills and a basic knowledge of MATLAB/Octave and Dynare/Iris (specific knowledge of these is not required).\n- Recommended: completion of the online Monetary Policy Analysis and Forecasting (MPAFx) course."
    },
    {
      "heading": "Course objectives",
      "content": "- Describe the models and techniques (simulation and estimation) that policy makers use in analyzing monetary, fiscal, and structural issues.\n- Augment or modify the model structure to address an economic policy question.\n- Apply the DSGE models developed in the course to various policy questions and interpret their results.\n- Identify the advantages and limitations of the models when used for policy analysis and advice.\n- Construct a basic DSGE model from first principles using data specific to the participant’s own country in the region."
    },
    {
      "heading": "Syllabus and structure",
      "content": "- Duration: two-week course.\n- Focus: use and interpretation of dynamic stochastic general equilibrium (DSGE) models.\n- Emphasis on applications of fiscal and monetary policies using models with nominal and real rigidities commonly used in central banks and ministries of finance.\n- Method: reliance on region-relevant case studies to illustrate application and to show how DSGE models can serve as inputs into the policymaking process.\n- The course dedicates numerous lectures to model design and implementation issues."
    }
  ],
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    "Course presented by the Institute for Capacity Development.",
    "Focus: building, using, and interpreting Dynamic Stochastic General Equilibrium (DSGE) models to analyze monetary and fiscal policy.",
    "Emphasis on model design and implementation issues, region-specific case studies, and discussion of benefits and limitations of DSGE models for policy analysis and advice.",
    "Topic: General Macroeconomics.",
    "Mid-level to senior officials who use Dynamic Stochastic General Equilibrium (DSGE) models in the macroeconomic analysis of monetary and fiscal policy issues.",
    "Expected: an advanced degree in economics or equivalent experience.",
    "Required skills: solid quantitative skills and a basic knowledge of MATLAB/Octave and Dynare/Iris (specific knowledge of these is not required).",
    "Recommended: completion of the online Monetary Policy Analysis and Forecasting (MPAFx) course.",
    "Describe the models and techniques (simulation 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.",
    "Construct a basic DSGE model from first principles using data specific to the participant’s own country in the region.",
    "Duration: two-week course.",
    "Focus: use and interpretation of dynamic stochastic general equilibrium (DSGE) models.",
    "Emphasis on applications of fiscal and monetary policies using models with nominal and real rigidities commonly used in central banks and ministries of finance.",
    "Method: reliance on region-relevant case studies to illustrate application and to show how DSGE models can serve as inputs into the policymaking process.",
    "The course dedicates numerous lectures to model design and implementation issues.",
    "**Normal**"
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