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CREI - Macroeconomics

Numerical Methods for Fiscal and Monetary Policy Analysis

Advanced Techniques for Solving and Simulating Macroeconomic Models in Fiscal and Monetary Policy Analysis

15h (5 days)

€675 - €1,175

Face to Face

English

Program date: June 30 - July 4, 2025

Early bird deadline: April 15, 2025

Learn more

Numerical Methods for Fiscal and Monetary Policy Analysis

Applications for 2025 Summer School programs are now open!

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Summer school

CREI - Macroeconomics

Numerical Methods for Fiscal and Monetary Policy Analysis

This course covers advanced techniques for solving and simulating modern macroeconomic models, focusing on fiscal and monetary policy analysis. You will learn methodologies, their advantages and disadvantages, and practical applications in specific contexts through theory and lab sessions.

Teaching Faculty

Want to get up to date with the latest developments in Numerical methods?

This course is ideal for:

Graduate students, researchers, and policy practitioners seeking to improve their skills in analyzing macroeconomic models and policy implications.

Enhance your skills in solving and analyzing modern macroeconomic models and their policy implications

By the end of the course, participants will:

Gain proficiency in the latest methods for solving and simulating modern macroeconomic models.
Learn the core methodologies used in macroeconomic modeling, including their advantages, limitations, and appropriate applications.
Apply advanced techniques to analyze fiscal and monetary policy.
Develop the skills to implement and simulate complex models.
Combine theoretical knowledge with practical skills to solve real-world macroeconomic problems and improve policy analysis.

Program Syllabus for Numerical Methods for Fiscal and Monetary Policy Analysis

Below is a brief outline of the topics that will be covered in the course:

Introduction to Local Solution Methods (Perturbation)

Basic principles about solving and simulating dynamic models; linear and higher-order approximation of stochastic models (the perturbation method).

Fiscal and Monetary Policy Rules

Simple rules; regime-switches; the zero-lower bound.

Optimal Fiscal and Monetary Policy

The welfare criterion; optimal simple rules; optimal Ramsey policy; commitment vs. discretion.

Solving models with Global Approximations

Models with borrowing constraints; sovereign default models.

Heterogeneous Agent Model

How to deal with idiosyncratic and aggregate uncertainty; solution with perturbation methods; solution with sequence-space Jacobian.

List of References

Here is a list of main references to help you prepare. Others will be provided throughout the course.

Texts and articles

Auclert, A., Bardóczy, B., Rognlie, M., & Straub, L. (2021), ”Using the sequence-space Jacobian to solve and estimate heterogeneous-agent models,” Econometrica, 89(5), 2375-2408.
Fernandez-Villaverde J. and J. Rubio Ramirez (2016), “Solution and Estimation Methods for DSGE Models”, Handbook of Macroeconomics, Vol. 2.
Guerrieri, L. and M. Iacoviello (2015), “OccBin: A toolkit for solving dynamic models with occasionally binding constraints easily”, Journal of Monetary Economics, 70, 22-38.
Debortoli, D., Galí, J., & Gambetti, L. (2020), “On the empirical (ir) relevance of the zero lower bound constraint,” NBER Macroeconomics Annual, 34(1), 141-170.
Schmitt-Grohé, S., and M. Uribe (2005), “Optimal fiscal and monetary policy in a medium-scale macroeconomic model,” NBER Macroeconomics Annual, 20, 383-425.

Software / Hardware

Practical sessions will take place using MATLAB. Sample codes and exercises will be provided.

Why join our Summer School?

All BSE Summer courses are taught to the same high standard as our Master’s programs. Join us to:

1

Network with like-minded peers.

2

Study in vibrant Barcelona.

3

Learn from world-renowned faculty.

Admissions and requirements

Applicants must ensure they meet course requirements or verify eligibility with Admissions Counselors

Program date: June 30 - July 4, 2025

Early bird deadline: April 15, 2025

Requirements

Summer School applicants normally demonstrate one or more of the following:

A strong background in Economics or a field closely related to the course topic (Statistics, Law, etc.).
Postgraduate degree or current Master’s/PhD studies related to the course topic.
Relevant professional experience.

Requirements for Numerical methods for Fiscal and Monetary Policy

No prior knowledge is needed but basic familiarity with MATLAB or another programming language is helpful.

Apply now

Schedule

Here is your schedule for this edition of CREI Macroeconomics Summer School, Numerical Methods for Fiscal and Monetary Policy Analysis course

Time

30

mon

1

tue

2

wed

3

thu

4

fri

14:30 - 16:30

Lecture

17:00 - 18:00

Practical

Credit transfers (ECTS)

ECTs are not available for this course.

Certificate of Attendance

Participants will receive a Certificate of Attendance free of charge. Participants will not be graded or assessed during the course.

Fees for 2025

Multiple course discounts are available, see more information about available discounts. Fees for courses in other Summer School programs may vary.

Course

Monetary and Fiscal Policies for Productivity Growth

The Data Economy: Tools and Applications

The Macroeconomics of Credit and Asset Bubbles

Numerical Methods for Fiscal and Monetary Policy Analysis

Climate Change, Firms, and the Green Transition

Quantitative Methods for Spatial Economics

Sovereign Debt Crises: Theory, Evidence and Policy

POLICYMETRICS: Econometrics for Macroeconomic Policy Making

Modality

Face to Face

Total Hours

10

15

10

15

ECTS

0

Regular Fee

1,175€

1,375€

1,175€

1,375€

Reduced Fee*

675€

775€

675€

775€

FAQ’s

Need more information? Here are some commonly asked questions by participants. Any further queries, please contact our Admissions Team.

Is accommodation included in the course fee?

Accommodation is not included in the course fee. Participants are responsible for finding accommodation.

Are the sessions recorded?

Sessions will be recorded and videos will be available for a month once the course has finished.

How much does each Summer School course cost?

Fees for each course may vary. Please consult each course page for accurate information.

Are there any discounts available?

Yes, BSE offers a variety of discounts on its Summer School courses. See more information about available discounts or request a personalized discount quote by email.