Topics: • the econometric modelling and forecasting of inflation in central banks; • mechanical, statistical, semi-structural and structural inflation forecasting models; • using a ‘suite’ of statistical and theoretical forecasting models; • tools for forecast evaluation and...

Monetary operations are essential to the effective implementation of a central bank’s monetary policy. This seminar will look at recent developments in money market operations, including changes made to frameworks following the global financial market crisis. In addition, it will consider how...

The aim of this workshop is to allow those responsible for the design and implementation of such policies to deepen their theoretical understanding of monetary operations and to compare and contrast experiences with their peers. The following topics will be covered: • lessons learned from the...

The seminar will focus on the following topics: • an introduction to the relevant theory; • expert overviews of key markets and topics; • financial market regulation; and • an in-depth examination of a particular market and/or topic (eg measuring systemic risk). [gemäß den...

Central banks rely increasingly on the empirical analysis of financial markets and the information contained therein to help them analyse the state of the macroeconomy, the impact of policy actions and to estimate the effects of risk. This one-week event will provide a rigorous overview of the...

Models are essential in developing rigorous, coherent and robust frameworks for economic analysis, thinking and policymaking in central banks. This one-week seminar focuses on the basics of economic modelling with a combination of lectures on introductory modelling theory and practical exercises...

The seminar will be taught from the perspective of the practitioner with the aim of discussing techniques that can improve upon classical econometric methods, or are more convenient alternatives. The topics covered are likely to include: - introduction to Bayesian analysis and Gibbs sampling; -...

Topics: - introduction to probability distributions and statistical inference; - univariate and multivariate regressions; - dealing with serial correlation, heteroskedasticity and multicollinearity; - time-series econometrics: unit roots and cointegration; and - an introduction to vector...

Topics: - experience of inflation targeting in different countries; - how did inflation targeting perform in the crisis? - what is the role of asset prices? - modelling and forecasting for inflation targeting; - combining monetary policy and financial stability objectives; and - communicating an...

The lags in the transmission mechanism of monetary policy mean that policymakers must forecast the future path of the economy. Accurate forecasts are only possible with a clear understanding of the structure of the economy and the shocks affecting it. This two-week seminar aims to improve...