Modeling with Impact

Using Bayesian Methods to Estimate Small Global Projection Models (GPMs) with Dynare

It seems your browser does not accept cookies. To continue into this site, you need to accept cookies from the domain .ecomod.net.

This is a 5-day hands-on course on building Global Projection Models (GPMs) for forecasting and policy analysis.

Representing the middle ground between micro-founded DSGE models and reduced-form econometric models, these models can be useful for both forecasting and monetary policy analysis. Students will learn how to use Bayesian methods in DYNARE to estimate 2-country versions of the models that include information on interest rates, exchange rates, inflation, GDP and unemployment.

Dynare is a pre-processor and a collection of MATLAB routines that have been developed to support modern macro modeling.

Methodology: 

Prerequisites
No previous knowledge of Bayesian methods or DYNARE is required.

For references and code see www.douglaslaxton.org