The conference will cover a broad range of themes related to econometric models with parameter time-variation. A special emphasis is on methodological, theoretical and empirical aspects and on their relevance for economic policy making, in particular for monetary policy and financial stability.
Wouter Den Haan (London School of Economics and CEPR), Jesper Lindé (Sveriges Riksbank and CEPR), Junior Maih (Norges Bank) and Dan Waggoner (Atlanta FED) are already confirmed their partecipation.
The 27th EABCN training school will be a three days course on 'Practical DSGE Models' taught by Professor Fabio Canova (BI Norwegian School of Management). Most DSGE model used by policy institutions are generally of large scale and little attention is generally paid to issues like model misspecification, model evaluation, model reduction and re-specification.
The 26th EABCN training school will be a three days course on 'Monetary Policy: An Imperfect Knowledge Perspective' taught by Professor Bruce Preston (University of Melbourne). Using a New Keynesian model with learning dynamics, this course builds an analytical framework for monetary policy evaluation that is consistent with the pervasive evidence of low-frequency variation in macroeconomic data. The consequences of such belief structures for monetary policy design are explored.
Luigi Federico Signorini (Deputy Director General, Banca d‘Italia) will talk about the impact of the downward trend in advanced countries' nominal interest rates and their impact on the measurement of the unobservable determinants of interest rates (inflation expectations, risk premia, natural interest rates), the assessment of the persistence of the causes of current exceptional circumstances, and the short- and long-term risks for price and financial stability.
Professor Marc J. Melitz (Harvard University) will survey the newer empirical literature based on firm-level studies of trade, and develop the analytical framework for general equilibrium models of trade with heterogeneous producers. The lectures will then cover applications (both theoretical and empirical) of these models to different subfields of international economics.
The financial crisis and the subsequent economic recovery were associated with spectacular price movements in a number asset markets. Understanding these fluctuations and their interactions with the macro economy remains challenging. The conference seeks to bring together innovative theoretical and empirical work advancing our knowledge on asset price behaviour.
The 24th EABCN training school will be a three days course on 'Advances in Bayesian Analysis of DSGE Models' taught by Professor Frank Schorfheide (University of Pennsylvania). The course will cover the recent advances in the Bayesian analysis of dynamic stochastic general equilibrium (DSGE) models, covering both estimation methods and applications.
The purpose of the ninth conference organised by the International Research Forum on Monetary Policy (IRFMP) is to promote the discussion of innovative research on theoretical and empirical macroeconomic issues with relevance for monetary policy.
The conference covered a broad range of themes in macroeconomics and finance with a view to the medium and long run. A special emphasis was on methodological, theoretical and empirical aspects and on their relevance for economic policy.
Professor Kristin Forbes (Monetary Policy Commitee, Bank of England) will talk about "Rethinking Current Account Vulnerabilities" and this will be discussed by Gianluca Benigno (LSE and CEPR),Giancarlo Corsetti (University of Cambridge and CEPR) and Frank Smets (ECB and CEPR). Bank of England will host the event.
The 23rd EABCN training school will be a three days course on 'Term Structure Modeling and the Lower Bound Problem' taught by Dr Jens Christensen (Federal Reserve Bank of San Francisco). The course will cover the most recent literature on how to model the term structure of bond yields including challenges posed by the asymmetric behavior of yields near their lower bound.