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...

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 following topics are likely to be covered: • an introduction to recent research on exchange rates, in particular market microstructure models, behavioural finance models as well as the new ‘open economy’ macroeconomic paradigm; • reserve currency issues and aspects of foreign...

Topics likely to be covered include: • the objectives of monetary policy and optimal policy under commitment and discretion; • methods for estimating policy rules and objective functions; • forecasting with and without endogenous monetary policy; • modelling the zero lower bound on...

The seminar will focus on a wide range of financial stability issues. The topics covered in the event will fit within the following broad themes: • the enhanced role of the Bank of England in the UK framework for financial stability; • identification and assessment of key risks to financial...

This seminar will look at recent developments in money market operations, including the response of central banks to the recent financial market turbulence. In addition it will consider how monetary operations interact with a central bank’s financial stability and regulatory mandates [gemäß...