Advanced Macroeconomic Modeling Summer School in Lisbon, Portugal
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There is already a multitude of public policy institutes. The BPP is trying to stand out from the rest by framing our mission as a project rather than an institute. At BPP, we try to pursue specific goals that can be achieved within a reasonable time frame. Our main mission is to improve the effectiveness of public policy via three avenues: raising public economic literacy, improving analytical frameworks in policymaking institutions and enhancing the communication of policy to the public.

BPP's Optimal Zip Lines for Central Banks

FPAS Mark II is about creating critical thinkers that design and implement analytical frameworks to help policymakers avoid dark corners, where they fail to anchor long-term inflation expectations or allow excessive credit expansions and asset price bubbles.  Requires much more focus on nonlinearities and uncertainty, as well as trained economists that are good at creating narrative-based scenarios to study the policy implications of uncertainty.  

Mission

  • Advancing the frontiers of monetary policy. Our philosophy highlights the need for assertive policies and maximum transparency.

  • Three C Approach: There is a need for public policy to be Comprehensive, Consistent and Coordinated.

  • Develop state-of-the-art frameworks for monetary, fiscal and macroprudential policies.

  • Economic literacy rate: Effective policy is partially dependent on credibility of the institution which is conditional on an educated populace.

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Douglas Laxton

Founder of The Better Policy Project

Douglas Laxton created Saddle Point Research and The Better Policy Project in Portugal after retiring from International Monetary Fund where he worked as a division chief for many years.

Douglas Laxton has enormous experience helping central banks develop transparent state-of-the-art policy frameworks. He also was responsible for many years developing analytical frameworks to support the IMF’s surveillance activities, and coordinating the production of the global outlook and risk assessments. Given his experience, he has a comprehensive understanding of the interactions between monetary policy and financial markets.

 
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"Advancing the Frontiers of Monetary Policy"

Edied by Tobias Adrian, Douglas Laxton, and Maurice Obstfeld

Our Activities
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Networking

Within policy circles, a lot can be learned through the sharing of past experiences. We try to connect the right type of people who can help mentor peers through similar issues they have experienced.

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Education

Education is a core activity.

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Research

Developing state-of-the-art modelling techniques

 

“We always plan too much and always think too little. We resent a call to thinking and hate unfamiliar argument that does not tally with what we already believe or would like to believe.”

Joseph Schumpeter