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

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Deadline for the application has passed.
Course No.: IT 18.08
Location: Washington, D.C., United States
Date: August 13, 2018-August 17, 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:

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 people actively doing research with DSGE models, as well as people 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.


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.