{
  "title": "Model-Based Monetary Policy Analysis and Forecasting (MPAF)",
  "sourceUrl": "https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2026/mpafct26-02",
  "canonical": "https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2026/mpafct26-02",
  "overlayPath": "/en/capacity-development/training/icdtc/schedule/ct/2026/mpafct26-02/index.md",
  "summary": "Model-Based Monetary Policy Analysis and Forecasting Training Program Model-Based Monetary Policy Analysis and Forecasting (MPAF) Deadline passed Session No.",
  "publishDate": "2025-10-24",
  "sections": [
    {
      "heading": "Program logistics and audience",
      "content": "- Session No.: CT 26.02\n- Location: Shenzhen, China\n- Date: March 9-20, 2026 (2 weeks)\n- Delivery Method: In-person Training\n- Primary Language: English\n- Application status: Deadline passed\n- Target Audience:\n  - Mid-level to senior officials responsible for monetary policy decision making and staff producing macroeconomic analysis and forecasting or operating macroeconomic models.\n  - Primarily central bank officials from Monetary Policy Department and/or Research/Modeling Department.\n  - Representatives from other departments or other agencies (e.g., Ministry of Finance/Economy) are also encouraged to apply."
    },
    {
      "heading": "Qualifications and prerequisites",
      "content": "- Expected background:\n  - Advanced degree in economics or equivalent experience.\n  - Comfortable using quantitative software such as Matlab (specific knowledge not required).\n- Recommended prior learning:\n  - Completion of the online Monetary Policy Analysis and Forecasting course on edX.org is recommended."
    },
    {
      "heading": "Course description and focus",
      "content": "- The course provides rigorous training on the use of Dynamic New Keynesian (DNK) models to conduct monetary policy analysis and forecasting.\n- Emphasis areas:\n  - Analysis of monetary policy responses to macroeconomic imbalances and shocks.\n  - Tools to develop or extend the canonical model to fit a country’s monetary policy framework and selected features of the country’s economy.\n- Pedagogical approach:\n  - Country case studies to reinforce understanding.\n  - Production of real-time baseline forecasts and alternative scenarios."
    },
    {
      "heading": "Course objectives and competencies",
      "content": "Upon completion of the course, participants should be able to:\n- Customize a simple model of an economy that embodies the monetary policy transmission mechanism and the shocks this economy may face.\n- Acquire and apply tools used in modern central banks to conduct monetary policy analysis and forecasting using small semi-structural models.\n- Use the semi-structural gap model to develop consistent medium-term projections for key macro variables, e.g., output, inflation, interest rate, and exchange rate.\n- Identify risks to the baseline forecast and build alternative scenarios that assume certain risks may materialize.\n- Start building a simple model for monetary policy analysis and forecasting using their own country data when they return home."
    },
    {
      "heading": "Additional training note",
      "content": "- The IMF offers online training to government officials and the public; interested participants are directed to Learn more for current offerings."
    }
  ],
  "bullets": [
    "Session No.: CT 26.02",
    "Location: Shenzhen, China",
    "Date: March 9-20, 2026 (2 weeks)",
    "Delivery Method: In-person Training",
    "Primary Language: English",
    "Application status: Deadline passed",
    "Target Audience:",
    "Expected background:",
    "Recommended prior learning:",
    "The course provides rigorous training on the use of Dynamic New Keynesian (DNK) models to conduct monetary policy analysis and forecasting.",
    "Emphasis areas:",
    "Pedagogical approach:",
    "Customize a simple model of an economy that embodies the monetary policy transmission mechanism and the shocks this economy may face.",
    "Acquire and apply tools used in modern central banks to conduct monetary policy analysis and forecasting using small semi-structural models.",
    "Use the semi-structural gap model to develop consistent medium-term projections for key macro variables, e.g., output, inflation, interest rate, and exchange rate.",
    "Identify risks to the baseline forecast and build alternative scenarios that assume certain risks may materialize.",
    "Start building a simple model for monetary policy analysis and forecasting using their own country data when they return home.",
    "The IMF offers online training to government officials and the public; interested participants are directed to Learn more for current offerings."
  ],
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  },
  "generatedAtUtc": "2026-09-29T17:06:31.069Z"
}