Quantitative Integrated Policy Analysis: Model, Estimation, and Country Applications
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Bibliographic details
- Session: JV 25.39
- Location: Vienna, Austria
- Dates: August 11-15, 2025 (1 week)
- Delivery method: In-person Training
- Primary language: English
- Status: Deadline passed
Target audience and qualifications
- Target audience:
- Central bank economists or advanced PhD students interested in getting a good understanding of quantitative models for the Integrated Policy Framework and looking to apply it in policy or academic work.
- Qualifications:
- Technically versatile PhD economists (or equivalent practical experience) with a strong interest in macroeconomic modelling.
- Knowledge of programming in Matlab/Octave or similar computer programs is also very helpful.
Session logistics
- Session No.: JV 25.39
- Location: Vienna, Austria
- Date: August 11-15, 2025 (1 week)
- Delivery Method: In-person Training
- Primary Language: English
- Application status: Deadline passed
Course description — scope and focus
- Provides an overview of the quantitative model for the integrated policy framework (QIPF) and shows how it can be applied to address pressing policy questions.
- Discusses the model's theoretical underpinnings and relates them to key principles of current Fund advice, focusing on:
- monetary policy tradeoffs;
- the design of policies mitigating macroeconomic and financial instability;
- the application of macroprudential policy tools.
- Emphasizes the interaction between:
- interest rate policy,
- FX interventions,
- capital flow measures,
- macroprudential policy tools.
- Demonstrates how estimation can account for country-specific characteristics and how estimation outputs can be used to help interpret economic developments.
- Showcases applications where the QIPF is used to build macroeconomic and financial crisis scenarios designed to provide quantitative answers to practical policy questions.
Learning objectives
Upon completion of the course, participants should be able to:
- Understand the basics of monetary, exchange rate, and macroprudential policies in the quantitative DSGE models.
- Understand the transmission of various policy tools in the quantitative IPF model.
- Understand how to specify and design various policy scenarios in the quantitative IPF model.
- Be able to estimate and do scenario analysis with the quantitative IPF model in Dynare.