Duration

5 days

Deadline for application

3 January 2025

Objective

Monetary policy decisions in many regions are largely based on the economic outlook. Analyses of current conditions and structural developments play a key role in this regard. This five-day course provides an overview of the analytical and modelling work carried out by Bundesbank experts in the context of the monetary policy formulation process in the euro area. The focus is on practical aspects of macroeconomic analysis and current topical analyses. Bundesbank experts will present elements of their work of analysing macroeconomic developments. The course gives an overview of the models and tools used by Bundesbank experts in a broad range of macroeconomic areas. In addition, the course will highlight analytical approaches to topics such as environmental aspects and trade agreements.

Content

• Analysis and forecasting of the international environment
• Analytical tools underpinning the Bundesbank’s short-term forecasting toolbox
• Inflation analysis and forecasting
• Labour market and wage developments
• Analytical tools for real estate price analysis
• The Bundesbank’s environmental multi-sector DSGE model (EMuSe)
• Simulation exercise and scenario analysis with macroeconometric models
• Evaluating trade policies with staggered difference-in-differences: a practical introduction
• Research projects related to macroeconomics and financial markets

Target group

Mid-level central bank officials working in the area of macroeconomic analysis or projections. Candidates who wish to apply for the course should have a sound grasp of macroeconomic theory, and are expected to have a good understanding of basic econometrics and experience in the use of commonly used modelling techniques.

Participants knowledgeable in the following areas are invited to give short presentations based on their own expertise in this field to facilitate an interactive course:

• analysis of microdata for inflation analysis and forecasting;
• analysis of international trade and trade policy;
• analysis of labour markets or wage dynamics.

Please note

This course does not cover topics related to the deeper analysis of monetary and financial developments, which are addressed in a separate course. Nor does the course provide an introduction to econometrics. A nominating person is mandatory for the participation in our in-person courses.