Thursday, 12 February 2015

IMF Monetary Policy Analysis course

This course is now open for registrations at the IMF Institute. Here's the course description (my bold):
This two-week course, presented by the IMF's Institute for Capacity Development, addresses demand for training in the area of forward-looking, model-based monetary policy analysis and is centered on a reduced-form, New Keynesian model. Participants are exposed to the theoretical foundations of New Keynesian macroeconomics and reflection thereof in a model that is akin to those used in central banks in both advanced and emerging market countries. The model is then re-calibrated and taken to the selected-country data for policy analysis and forecast. Attention is paid to filtering of data in a multivariate framework (Kalman filtration) and near-term forecasts. Participants are divided daily into small groups, under the direction of counselors, to conduct workshop exercises aimed at practicing the techniques presented in lectures. The approach followed in the course does not favor any particular monetary regime. Rather, it presents modeling alternatives to be used in the case of a floating exchange rate and a pegged exchange rate, as well as in the case of incomplete control of the money market. 
I will not register myself as I am not particularly interested in macro-economic quackery.