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Unveiling the Future of Economic Modeling with DynareJulia!

As our global economy confronts unprecedented challenges, a deep and precise understanding of policy and economic concepts becomes paramount. Introducing a course that addresses the essentials, debunking misconceptions while offering hands-on training for in-depth economic analyses.


Why DynareJulia?
Thanks to the genius of Michel Juillard and his commitment to the open-source community, we have DynareJulia—a tool specifically crafted for solving complex economic models. The Better Policy Project acknowledges Michel's dedication and is thrilled to have his guidance in several training sessions.


Course Highlights:
1️⃣ Gain clarity on pivotal concepts that, when misunderstood, can lead to misguided policies.
2️⃣ Dive deep into the historical-narrative approach, enabling you to estimate potential output, NAIRU, and more.
3️⃣ Learn how to coordinate monetary, fiscal, and financial-sector policies, extracting lessons from major global crises.
4️⃣ Embark on hands-on sessions using the U.S. model, enabling you to understand, tweak, and test in DynareJulia.
5️⃣ Evaluate the effectiveness of estimation methods through error analysis and forecast evaluations.

Course Structure:

Day 1: Laying the Foundations and Basic Concepts

  • Introduction

  • Common Mistakes and Misconceptions

  • Introduction to the Historical-Narrative Approach

Day 2: Deep Dive into Financial Cycles and Output Gaps

  • Importance of Coordinating Monetary, Fiscal, and Financial-Sector Policies

  • Dissecting the Methodology

  • Transparency in Reporting and Documentation

Day 3: Hands-on Training with DynareJulia and the U.S. Example

  • Introduction to DynareJulia

  • Practical Work with the U.S. Model

Day 4: Advanced Insights into Policy Frameworks

  • Distinguishing Financial-Cycle Output Gaps and Monetary-Policy-Relevant Output Gaps

  • Challenges and Solutions in Analysis

  • Group Discussions and Activities

Day 5: Application, Evaluation, and Future Prospects

Benefit Beyond the Course
This program is more than just a course; it's a stepping stone. As we're rooted in the U.S. example, participants will be equipped to transfer and adapt this knowledge across borders. Plus, this training is a gateway to deeper collaboration with The Better Policy Project.

While many courses offer theoretical insights, ours plunges into the application. Experience complete transparency, uphold the standards of elite policy-making institutions, and understand every detail vital for constructing medium-term scenarios.

Reading Material:

  • Collyns, C., D. Laxton, and N. Tamirisa, 2008, “Measuring Output Gaps” Box 1.1 of Chapter 1 of the October 2008 World Economic Outlook, International Monetary Fund.


📆 Course Dates: May 13 - 17, 2024

⏰ Times: 14:00 - 17:00 Lisbon Time

⏳ Application Deadline:  April 29, 2024

Price for 1 Participant -- €1000

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