Modeling with Impact

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

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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.


No previous knowledge of Bayesian methods or DYNARE is required.

For references and code see