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FALL 2011

Week 1                (August 29- September 2 2011)

Monetary Policy, Asset Prices and Learning

Prof Klaus Adam

(University of Mannheim)

http://www.klausadam.net/

Topics Covered :

  • Learning and Near-Rational Expectations: Formulation and Concepts
  • Conditions for Convergence to Rational Expectations
  • Learning and Monetary Policy Design
  • Learning and the Cyclical Response to Shocks in DSGE Models
  • Asset Price Behavior and Learning

Week 2          (September 5-9  2011)

Analyzing Business Cycles

Prof Adrian Pagan

(University of Technology, Sydney)

http://datasearch.uts.edu.au/business/staff/finance/details.cfm?StaffId=9958

Topics covered:

  • Types of cycles and measurement of state. Bry and Boschen and Markov Switching datings.
  •  Summarizing  characteristics of univariate cycles – duration, amplitude, variability, symmetry.
  •  Summarizing characteristics of multivariate cycles – synchronization, reference cycle, aggregating   turning points, heatmaps.
  •  Analysing the Cyclical Characteristics of Statistical and Economic Models – VARs, VECMs, DSGE
  • Predicting Recessions – Model based, leading indicators.

 Last update: 12 May, 2011

Spring 2011

Week 1

Monetary and Fiscal Policy in the New Keynesian Open Economy Framework 

Prof Tommaso Monacelli

(Universita Bocconi, IGIER, and CEPR)

http://www.igier.uni-bocconi.it/monacelli

April 5-8 2011

Topics covered:

  • ·         The New Keynesian Open Economy Framework
  • ·         Monetary and Fiscal Policy in a NK Model
  • ·         Incomplete Exchange Rate Pass-Through
  • ·         Estimating the effects of fiscal policy
  • ·         Fiscal policy and the real exchange rate

Week 2

Solving, Calibrating and evaluating structural models

Prof Fabio Canova

(ICREA Research Professor at UPF and CEPR)

http://www.crei.cat/people/canova/welcome.html

April 11-12 2011

Topics covered:

  • ·         Solving DSGE models: first and second order approaches.
  • ·         Introduction to Dynare with applications
  • ·         Calibration of DSGE models  
  • ·         Evaluation of calibrated models. Conditional Forecasting

Empirical time series methods for policy analyses

Prof Fabio Canova

(ICREA Research Professor at UPF and CEPR)

http://www.crei.cat/people/canova/welcome.html

April 13-14  2011

Topics covered:

  • ·         VARs and Structural VARs: policy analyses and forecasting
  • ·         Bayesian VARs
  • ·         FAVAR and Factor models: estimation and interpretations
  • ·         Applications and Examples (with Matlab)

Last update:  12 May , 2011

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