Training Catalog Course Details

Upon completion of this course, participants should be able to:

• Customize a simple model of an economy that embodies the monetary policy transmission mechanism, and the shocks this economy may face. 
• Acquire and apply tools used in modern central banks to conduct monetary policy analysis and forecasting using the small semi-structural model. 
• Conduct nowcasting and near-term forecasting using estimation-based econometric techniques supported by expert judgment.
• Use the small semi-structural model to develop consistent medium-term quarterly projections of key macro variables e.g., output, inflation, interest rate, and exchange rate. 
• Identify risks in the baseline forecast and draw up medium-term projections for alternative scenarios that assume that the risks materialize. 
• Start building a simple model for monetary policy analysis and forecasting using their own national data when they return home.