The event is a combination of lectures on the theory and methods of policy analysis and design, practical problems in modelling and forecasting, and computer-based exercises. The following topics will be covered: • unit roots, cointegration and error-correction mechanisms; • vector...

Empirical analysis of financial markets and the information contained therein is crucial for central banks. This analysis needs to take account of the latest developments in financial economics. For example, recent advances in techniques used to extract information from the prices of financial...

This event invites heads of internal audit departments in central banks to question, develop and deepen their understanding of the internal audit department’s role and to share successful practices and experience with peers. The event will have a number of themes, although the final content...

In this seminar we offer central bankers with expertise in this field the opportunity to deepen their knowledge of the theoretical and practical aspects of recent challenges to macroprudential policy and to share experience with their peers. The topics covered in the event will fit within the...

This seminar analyses the causes and consequences of both, stressing that they are inherently linked by the structure of the economy and the nature of the shocks. The following topics are likely to be covered: • an introduction to recent research on exchange rates, in particular market...

This event is an introduction to some of the techniques in Bayesian econometrics which can be useful for modelling and forecasting in central banks. It will provide an overview of the theory and then focus on practical implementation through computer-based exercises. The seminar will be taught...

Financial regulation is usually justified by pointing to market imperfections that regulation seeks to address. Yet all real-world markets are imperfect and the welfare costs arising from these imperfections create strong incentives for market participants to devise their own solutions....

The financial crisis has made central bankers question how business continuity management should develop, especially in relation to two questions: what are the new threats to business continuity and what can we learn from the management of the recent financial crisis? This interactive workshop...

Given the long and uncertain lags in the monetary transmission mechanism, all central banks have to forecast the main variables that they are interested in. But academics and policymakers alike have found that inflation has become more difficult to forecast, not least because of changes in the...

Liquidity forecasting essentially consists of forecasting the central bank’s own balance sheet, and in particular its domestic currency liabilities. This event will provide an overview of liquidity forecasting, and help understand the key components of the central bank’s balance sheet and...