## The Use of DSGE Models in the Policy-Making Process - Advanced

## Source details

**Canonical URL:** [The Use of DSGE Models in the Policy-Making Process - Advanced](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2019/dsge-act19-08)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/ct/2019/dsge-act19-08/index.md)
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## Bibliographic details
- Session: CT 19.08
- Location: Dalian, China
- Dates: September 2-6, 2019 (1 week)
- Primary language: English
- Interpretation language: Chinese

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### Course overview and logistics
- Title: The Use of DSGE Models in the Policy-Making Process - Advanced
- Invitation Session No.: CT 19.08
- Location: Dalian, China
- Date: September 2-6, 2019 (1 week)
- Primary Language: English
- Interpretation Language: Chinese
- Presented by: the IMF's Institute for Capacity Development

### Target audience and qualifications
- Target audience:
  - Mid- to senior-level officials involved in developing forecasts that are used in the design and implementation of macroeconomic policy.
- Qualifications:
  - Participants should have an advanced degree in economics or equivalent experience.
  - Participants should be comfortable using software for econometric applications such as EViews.

### Course objectives and format
- Objective:
  - Strengthen participants' macroeconomic forecasting and modeling skills through the application of modern econometric techniques.
- Format and pedagogy:
  - Lectures include discussion of underlying theory.
  - Live presentations of empirical analyses on a personal computer.
  - Hands-on learning by participants in a computer lab.
  - Participants apply techniques to a case study country: estimate a model, evaluate it, and use the model for forecasting.

### Core technical contents and emphases
- The course focuses on five aspects of empirical model building and forecasting:
  - data and model properties, including stationarity, non-stationarity and cointegration;
  - dynamic specification, including the use of error correction models;
  - model evaluation and model design;
  - forecast uncertainty, forecasting for policy, and policy analysis; and
  - combination forecasts.

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## References

- [Core Elements of Banking Supervision (CBS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2027/cbsat27-10)
- [Advanced Government Finance Statistics (GFS-A)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/gfs-ace26-45)
- [Fiscal Sustainability (FS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/fsce26-38)
- [Safeguards Assessments of Central Banks (SAC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/sacat26-30)
- [Macroeconomic Management in Resource Rich Countries (MRC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/mrcce26-44)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2019/dsge-act19-08_