Training Program

Mid-level to senior officials who use Dynamic Stochastic General Equilibrium (DSGE) models in the macroeconomic analysis of monetary and fiscal policy issues and have a strong interest in advanced modeling techniques.

Participants are expected to have a background in economics, good quantitative skills, and a basic knowledge of MATLAB and Dynare.

This course deals with building, using, and interpreting DSGE models. It introduces the participants to the models and techniques that central banks and ministries of finance commonly use in analyzing monetary and fiscal issues. The course devotes many lectures to model design and implementation issues and uses case studies relevant to emerging economies to illustrate how these models are applied and how they can contribute to the policymaking process. The course discusses the advantages and limitations of models when they are used for policy analysis and advice.