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.

Methodology: 

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

For references and code see www.douglaslaxton.org

Fees:

The fee for the course is US$3,767.00. This includes course materials, lectures, computer labs, morning and afternoon coffee breaks, receptions.

University students and staff get a discount of 25 percent off the regular fee. Please send  a copy of your student or staff card to office@ecomod.net). Institutional group rates are available for two or more persons attending during the same course period. Please inquire.

Scholarships:
EcoMod offers a limited number of partial scholarships to candidates from developing countries and transition economies. To submit your application, please click here. The deadline to apply for a scholarship is two months before the beginning of the course.