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SUMMER SCHOOL

Empirical Methods for Macroeconomists 2024

Introduction to DSGE Modeling using the RISE Toolbox

10 and 11 September 2024

Junior Maih, Senior Economist and Special Adviser, Norges Bank

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Junior Maih holds an MSc and a PhD from the University of Oslo, Norway. He is a senior economist and special adviser at Norges Bank. He has previously worked for the Research Department of the IMF in Washington DC and also held the position of adjunct Professor of Economics at the Norwegian Business School. He is a member of the Dynare Team and the developer of the RISE Toolbox.

About the course

This two-day course is designed for practitioners in Central Banks and PhD students engaged in Dynamic Stochastic General Equilibrium (DSGE) modeling. Through practical sessions and theoretical insights, participants will gain comprehensive knowledge of DSGE modeling principles and techniques using the versatile capabilities of the RISE toolbox. The course is structured into two main segments: the first day focuses on constant-parameter DSGE modeling, while the second day delves into regime-switching models. Through a blend of theoretical insights and hands-on exercises, participants will emerge with the skills and knowledge necessary to navigate the complexities of modern macroeconomic analysis. Participants are encouraged to bring their own models, possibly implemented in other languages.

This course is ideal for:

  • Practitioners working in Central Banks who utilize DSGE models for policy analysis and economic forecasting.
  • PhD students who are conducting research involving DSGE modeling and seek to enhance their technical skills.
  • Economists and researchers interested in expanding their knowledge and practical experience with advanced DSGE modeling techniques.

Course Level

  • Intermediate/Advanced

Prerequisites and software requirements

Participants should:

  • Be knowledgeable and actively working with DSGE modeling.
  • Have their own laptops with MATLAB (version R2018B or above) installed.
  • Have the following additional MATLAB toolboxes installed:
    • Optimization Toolbox
    • Statistics and Machine Learning Toolbox

Upon course completion: Skills and knowledge gained

Upon completion of the course, participants will:

  • have a comprehensive understanding of DSGE modeling principles and techniques
  • begin developing proficiency in using the RISE toolbox for model implementation, analysis, and simulation
  • gain insights into both constant-parameter and regime-switching DSGE models
  • acquire practical skills in parameterization, computation of steady states, solution techniques, and simulation methods
  • be equipped to apply DSGE modeling in real-world scenarios, particularly in the context of central banking and academic research.

Applied Methods for Banking and Macro-Financial Policy Analysis

12 - 13 September 2024

Dr Yusuf Soner Baskaya, Senior Lecturer in Economics, University of Glasgow

Dr Yusuf Soner Baskaya standing in the Cloisters at the University of Glasgow for a profile photo

Soner Baskaya is a Senior Lecturer (Associate Professor) at the Adam Smith Business School. In the past, he worked at the Central Bank of the Republic of Turkey (CBRT) as Senior economist, Deputy Executive Manager of the Research Department and Executive Manager of Communications and Foreign Relations Department. He also led the G20 team at the CBRT during Turkish Presidency of G20 in 2015. The institutions in which he taught include the London School of Economics, Dartmouth College, Brown University, Bilkent University and Middle East Technical University. He has also been LSE Fellow at London School of Economics, Department of Management and Research Fellow at the Bank for International Settlements.

Soner’s research and teaching interests include macroeconomics, banking, applied econometrics and labour economics. His research appeared in prestigious journals in economics and finance.

Soner obtained his BA degree in Economics from Bogazici University, MSc in Economics from Middle East Technical University and MA and PhD in Economics from Brown University.

About the course

This course is designed to introduce tools required for analysing the dynamics of banking sectors in relation to monetary policy, prudential policy and capital flows. The course will offer both conceptual aspects and hands-on applications using bank level data and relevant econometric software.

Who should attend

Economists interested in improving their hands-on skills for analysing issues related to macro-financial policy such as the effects of capital flows, macroprudential policies, bank regulation and climate change on credit market.

The participants are expected to know intermediate level econometrics, including basic panel data techniques.

Course level

  • Intermediate/Advanced
  • Software Requirements: Stata (Basic Level)

Upon course completion: Skills and knowledge gained

Upon completion of the course, participants will be able to:

  • Use microeconometric tools and relevant softwares to analyse effects of monetary policy, prudential regulation, banking crises, capital flows and climate change on banking sector.