Macro-Fiscal Modeling and Analysis (MFMA)

Deadline for the application has passed 
Course No.: JV 12.04
Location: Vienna, Austria (JVI)
Date: March 05 - March 16 2012 (2 Weeks)
Language: English
Target Audience:
(i) Mid- to senior-level officials involved in fiscal policy decisions who have already attended the Macroeconomic Management and Fiscal Policy (MFP) course and/or have a strong analytical background in fiscal policy; (ii) Junior staff involved in preparation of analytical documents on fiscal policy issues.
Participants should have an advanced degree in economics or equivalent experience and be comfortable with quantitative techniques. Familiarity with E-Views and Matlab is welcome, but not required.
Course Description:
The two-week course, presented by the IMF Institue, aims at deepening participants' understanding of fiscal policy issues using advanced tools of macro-fiscal modeling and analysis. It draws on the Fund's experience in providing fiscal policy advice, on studies undertaken by Fund staff, and on selected research by outside scholars. The following fiscal issues are covered: alternative measurements of the fiscal stance; the quantitative implications of fiscal rules; debt sustainability analysis in a stochastic environment; aging, health, and pension reform issues using a calibrated overlapping generations (OLG) model; fiscal cost of financial crises; and analysis of monetary-fiscal interactions and fiscal adjustment scenarios using a dynamic general equilibrium (DGE) model. The course lecture material is practiced in several workshops and case studies. During the course, participants are expected to work in small groups, either independently or under the guidance by the course counselors, and make plenary presentations.