English

Formulation, Estimation, and Policy Analysis with DSGE Models (INS-CRS)

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Course No.: IT 17.06
Location: Washington, D.C., United States
Date: August 14, 2017-August 18, 2017 (1 Week)
Language: English

Course Description:

The objective is to review the basic New Keynesian model. Professor Christiano will discuss the lessons for policy to be learned from the closed economy version of the model and then extend it to the open economy setting. He will also discuss some extensions of the model that incorporate financial market frictions. The course is aimed at a broad audience, including staff actively doing research with DSGE models, as well as staff interested in seeing what these models are about and what they are used for. Computer lab sessions will give participants hands-on experience solving, estimating, and analyzing the models discussed in the lectures. The software, Dynare version 4, will be used in the computations, though no experience with Dynare will be assumed.

Target Audience: Fund economists, Research Officers, and Research Assistants especially those working with and/or interested in DSGE models.

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Important Note for Internal Economics Training Courses:

Internal Economics Training (IT) courses are self-financed. The IMF will not charge officials for attending courses. However, all travel, insurance, hotel, and living costs will need to be covered by the agency sponsoring the participants.