Overview

Monetary policy operates in a narrow corridor. Inflation expectations can shift. Credibility can erode. Financial spillovers amplify shocks. Linear models with assumed credibility are, at best, simplified approximations. They abstract from the very mechanisms — credibility dynamics, nonlinear trade-offs, and expectation formation — that often determine whether policy succeeds or fails.

EndoCred equips economists with the tools to build and operate nonlinear forward-looking policy models where credibility evolves endogenously, inflation dynamics are regime-dependent, policy trade-offs are explicit, open-economy spillovers are structured, and computation is robust and transparent.

This is a structured certification pathway for economists who want to operate institutional-grade policy frameworks.

Three-Level Certification Pathway

• EndoCred I — Nonlinear Solution Methods and Credibility Dynamics

• EndoCred II — Open Economy Dynare Implementation

• EndoCred III — Institutional Model Construction

Participants must complete each level before progressing to the next. Certification reflects demonstrated competency in model construction, solution methods, and reporting.

Module I — Nonlinear Solution Methods and Credibility Dynamics

Participants work inside a custom Better Policy Project GPT environment running Newton-based stacked solution algorithms with homotopy safeguards. The module uses long-run U.S. data including the Great Inflation, the Volcker disinflation, the Great Moderation, and post-pandemic inflation.

Participants learn how credibility evolves, how expectations become entrenched, and why disinflation can be costly.

Module II — Two-Country Open Economy Model in Dynare

All implementation is executed in Dynare (MATLAB or Octave). GPT-assisted code generation reduces friction in writing, debugging, and documenting Dynare files.

Each exercise produces a publication-quality LaTeX report including equations, calibration tables, policy experiments, and professionally formatted charts.

Module III — Build Your Own Institutional Model

Participants construct a nonlinear policy model tailored to their institutional environment. Extensions may include financial-real linkages, endogenous risk premia, custom policy loss functions, and structured scenario analysis.

​

Continuous Schedule

Courses begin every Monday morning. Applications must be submitted by 6:00 PM London time on Friday.

Applicants must submit a short written statement outlining their background, motivation, and intended application of the training.

Applicants receive a response by Wednesday of the following week with a proposed start date and onboarding details.

Multi-Level Trainer System

Trainers operate at multiple levels of expertise. Complex methodological questions are escalated to senior experts in macroeconomic modeling to ensure institutional-grade standards.

Methodological Discipline

Participants are trained to understand both the economic structure of their model and the numerical methods used to solve it. The objective is disciplined, transparent, and professional macroeconomic modeling.

Pricing

Each module is priced at €1000 and runs for four weeks (28 working days).

The program includes:

• Full access to training materials

• Access to the specialized Better Policy Project GPT assistant

• Python and Dynare code-generation support

• Automated LaTeX reporting workflows

• Five hours of personalized trainer support (including onboarding session)