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CREI - Macroeconomics

POLICYMETRICS: Econometrics for Macroeconomic Policy Making

Advanced econometric techniques for optimal policy evaluation and decision-making.

15h (5 days)

€775 - €1,375

Face-to-face

English

Program date: July 7 - July 11, 2025

Early bird deadline: April 15, 2025

Learn more

POLICYMETRICS: Econometrics for Macroeconomic Policy Making

Applications for 2025 Summer School programs are now open!

Summer school

CREI - Macroeconomics

POLICYMETRICS: Econometrics for Macroeconomic Policy Making

This course provides a rigorous exploration of modern econometric methods for evaluating macroeconomic policy decisions, utilizing new sufficient statistics techniques that integrate forecasts, impulse responses, and expert judgment.

Faculty

Want to get up to date with the latest developments in Macroeconomic policy making?

This course is designed for:

Monetary and fiscal policy makers, their staff members, and researchers and PhD students interested in the econometrics of policy making

Participants will learn how modern econometric methods, in particular methods for impulse response estimation and forecasting, can be used as building blocks to evaluate and improve real-world macroeconomic policy decisions.

Enhance policy decision-making in complex and data-rich macroeconomic environments

By the end of the course, participants will be able to:

Test, optimize and communicate real world policy decisions using sufficient statistics

Gain practical experience calibrating the magnitude and timing of a fiscal package, and learn how to strike the right balance between inflation and unemployment through monetary policy

Understand the econometrics of modern macro policy evaluation

Program Syllabus for POLICYMETRICS: Econometrics for Macroeconomic Policy Making

The course provides a bottom-up approach to explain the econometrics of policy making.

Course Outline

Impulse response estimation and forecasting
Testing the optimality of policy decisions
Optimizing policy decisions
Evaluating counterfactual policies
Communicating policy decisions
Ranking policy institutions

List of References

The resources below will help you prepare for the course.

Articles

Barnichon, R. and Mesters, G., A Sufficient Statistics Approach for Macro Policy, American Economic Review, 2023.
Barnichon, R. and Mesters, G., Evaluating Policy Institutions —150 years of US Monetary Policy—, Working Paper, 2023.
Barnichon, R. and Mesters, G., The Phillips Multiplier, Journal of Monetary Economics, 2021.
Barnichon, R. and Mesters, G., Identifying modern macro equations with old shocks, The Quarterly Journal of Economics, 2020.
Chetty, R., Sufficient Statistics for Welfare Analysis: A Bridge Between Structural and Reduced-Form Methods, Annual Review of Economics, 2009.
Elliot, G., and Timmermann, A., Economic Forecasting. Princeton University Press, 2016.
Hansen, L.P., Sargent, T.J., Robustness, Princeton University Press, 2008.
McKay, A. and Wolf, C., What Can Time-Series Regressions Tell Us About Policy Counterfactuals?, Econometrica, 2023.
Ramey, V., Macroeconomic Shocks and Their Propagation. In Handbook of Macroeconomics. , ed. J. B. Taylor and H. Uhlig. Amsterdam, North Holland:Elsevier, 2016.
Sims, C. A., and Zha, T, Does Monetary Policy Generate Recessions?, Working Paper, 1995.

Software / Hardware

MATLAB will be used during the course. Participants will receive a free, time-limited MATLAB license before the program starts. Please install MATLAB on your computer before the course begins for use in practical sessions
Empirical implementation code is provided in Matlab and R
Students must bring their own portable computer to participate in the course fully

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: July 7 - July 11, 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 POLICYMETRICS: Econometrics for Macroeconomic Policy Making

Participants should be familiar with basic macroeconometric models and methods

Schedule

Here is your schedule for this edition of CREI Macroeconomics Summer School POLICYMETRICS: Econometrics for Macroeconomic Policy Making course.

Time

7

mon

8

tue

9

wed

10

thu

11

fri

14:30 - 16:30

Lecture

17:30 - 18:30

Practical

Credit Transfers (ECTS)

ECTS are not available for this course

Certificate of Attendance

Participants who attend more than 80% of the course will receive a Certificate of Attendance, free of charge.

Fees

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

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 NOT be recorded; however, the materials provided by the professor will be available for a month after 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.