Important information: the 2022 Summer courses will be face-to-face for a registration fee of 1,500 EUR per course. We also offer the opportunity to follow the courses online on a Cisco/Webex platform for a reduced registration fee of 1,200 EUR per course.
Application deadline: July 17, 2022 for the Summer courses
2022 SPRING COURSES
WEEK 1
March 28-April 1, 2022 (Online)
Asset Price Reactions to News: High Frequency Methods and Applications
Refet S. Gürkaynak (Bilkent University and CEPR)
Topics covered
- Shocks in VARs and surprises in event studies. Examples and identification.
- Measuring market perceptions of monetary policy, forward guidance, QE surprises. Effects on asset prices, cross country spillovers.
- OLS vs. Heteroskedasticity-based identification. Application to inference using yield curve changes. Market-based real rate and inflation expectations.
- Unobserved news and yield curve movements.
- Proxy VARS and central bank information effects.
WEEK 2
April 4-7, 2022 (Online)
New developments in applied time series analysis
Fabio Canova (Norwegian Business School)
Topics covered
- New identification procedures for SVARs: heteroskedasticity based; sign and narrative; higher moments.
- Local projections: facts and problems.
- Method for network analyses.
- Compression and shrinkage methods for large data
- Hitchhiker guide to empirical macro.
Application deadline: March 21, 2022 for the 2022 Spring courses
2022 SUMMER COURSES
WEEK 3
July 25-29, 2022 (Hybrid)
The Economy as a Complex Production Network: Supply chain disruptions and economic dynamics
Vasco Carvalho (University of Cambridge)
Topics covered
- Introduction to Production Networks: Lingo and a Baseline G.E. Framework. Application: Introduction to network data manipulation and visualization, IO Tables as a Network; Comovement Across Sectors.
- Aggregation in Linear and Nonlinear Economies. Application: COVID-19 Impact
- Networked Propagation: Micro Evidence. Application: Aggregate Consequences of Natural Disasters as Supply Chain Disruptions
- Multi-Sector DSGE Models OR Policy as Network Targeting. Application: Selection from applied use cases in the literature (trade, spatial, financial frictions, misallocation, industrial policy)
WEEK 4
August 1-5, 2022 (Hybrid)
Frontiers of Heterogeneous Agent Research in Open and Closed Economies: Facts, Methods and Policy Implications
Kurt Mitman (Stockholm University and IIES)
Topics covered
- Aggregate and cross-sectional facts on heterogeneity.
- Workhorse theory of inequality: Bewley-Imrohoroglu-Huggett-Aiyagari Model.
- Frontier solution methods for models with heterogeneity.
- Implications of heterogeneity for monetary and fiscal policy in open and closed economies.
- Directions for future research: Can heterogeneity help solve unresolved puzzles in open economy macro?