Specifying, Solving, and Estimating DSGE Models: An Introduction (INS-CRS)

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Apply online by December 04, 2017
Course No.: IT 18.02
Location: Washington, D.C., United States
Date: March 5, 2018-March 9, 2018 (1 Week)
Language: English

Target Audience:

Officials, primarily in ministries of finance, economy, and planning, or in central banks.


It is required that candidates have an advanced degree in economics, strong analytical skills, and a very good knowledge of English. Courses will be conducted in English with no interpretation.

Course Description:

Professor Fabio Canova (European University)

This course provides a self-contained introductory exposition of the tools needed to construct and solve DSGE models, and to estimate the structural parameters using full information classical and Bayesian techniques. Issues concerning the development of models, the translation of their equations in Dynare, and the practical implementation of estimation routines will be covered. The emphasis of the course is on developing an understanding of how the techniques work, and a number of examples and illustrations will be offered involving estimation of small scale New Keynesian models, Phillips curves, and Taylor rules, measuring the effects of fiscal policy, and addressing a few issues in international macro. An introduction to Dynare software will also be provided. Computer programs in Matlab and Dynare implementing simple exercises will be made available to participants.

Important Note for Online Courses:

For Online Learning (OL) courses, which are delivered through the edX platform, you will need an additional piece of information to register: you will be prompted for your edX.org username. If you do not already have a username, please go to https://courses.edx.org/register and sign up for a free account. Once you have created an account, you may complete the IMF Institute application. If you already have an edX account, your username can be found on the top right of the screen after logging in.

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.