Advanced Monetary Policy Analysis
Master monetary policy forecasting using QPM models and MATLAB. Learn model building and analysis for central banking.
Master monetary policy forecasting using QPM models and MATLAB. Learn model building and analysis for central banking.
This comprehensive course introduces the Quarterly Projection Model (QPM) for monetary policy analysis and forecasting. Students learn to implement key canonical QPM equations using MATLAB/Octave and IRIS toolbox. The course covers New Keynesian model structures and their properties, focusing on practical applications for inflation-targeting central banks. Through hands-on exercises, participants master data filtration, model calibration, and implementation techniques used in central banking.
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What you'll learn
Understand key building blocks of canonical semi-structural QPM
Implement QPM using specialized macroeconomic modeling software
Master state-space form elements of QPM models
Apply IRIS Toolbox functions for model solutions
Develop basic QPM calibration skills
Create comprehensive model output reports
Skills you'll gain
This course includes:
PreRecorded video
Graded assignments, exams
Access on Mobile, Tablet, Desktop
Limited Access access
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Module Description
This course focuses on advanced monetary policy analysis and forecasting techniques using the Quarterly Projection Model (QPM). Students learn to implement and analyze macroeconomic models used by central banks, covering both theoretical frameworks and practical applications. The curriculum includes hands-on experience with MATLAB/Octave and IRIS toolbox, enabling participants to develop, calibrate, and maintain QPM models. Special emphasis is placed on data filtration, model properties, and creating comprehensive output reports.
Fee Structure
Instructor
4 Courses
IMF Economist and Monetary Policy Expert
Mikhail Pranovich currently serves as an Economist in the European and Middle Eastern Division of the IMF's Institute of Capacity Development, bringing extensive expertise in monetary policy and econometrics. A Belarusian national with a Ph.D. in Economics from the University of Cambridge, his career encompasses significant roles in both international and national institutions. Prior to his current position, he worked as an Economist at the Joint Vienna Institute and led the Monetary Analysis and Forecasting Division at the National Bank of Belarus. His experience includes valuable work at the IMF's Resident Representative Office in Minsk and the Regional IMF Office for Central and Eastern Europe in Warsaw. Pranovich's research interests and expertise focus on monetary policy, macro-econometrics, financial econometrics, and finance, making him a key contributor to the IMF's capacity development initiatives in Europe and the Middle East
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4.4 course rating
11 ratings
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