POLICYMETRICS: Econometrics for Macroeconomic Policy Making
Advanced Econometric Techniques for Optimal Policy Evaluation and Decision-Making
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In this course, participants will learn modern econometric methods for impulse response estimation and forecasting to enhance macroeconomic policy decisions, integrating insights from various models, qualitative evidence, and judgment.
Teaching Faculty
Want to get up to date with the latest developments in Macroeconomic policy making?
This course is ideal for:
- Policymakers, staff, researchers, and PhD students interested in econometric policy-making
Participants will tackle real-time policy issues and develop quick proficiency through practical assignments and minimal-assumption analysis
Enhance policy decision-making in complex and data-rich macroeconomic environments
By the end of the course, participants will be able to:
- Gain practical experience with methodologies to effectively analyze and address real-world policy challenges in monetary and fiscal policy.
- Develop skills to combine insights from various economic models, qualitative evidence, and judgment for optimal policy formulation in complex environments.
- Gain practical experience with methodologies to effectively analyze and address real-world policy challenges in monetary and fiscal policy.
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 optimality of policy decisions.
- Optimizing policy decisions.
- 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
- Students must bring their own portable computer to participate in the course fully.
- Empirical implementation code is provided in Matlab and R.
Why join our Summer School?
All BSE Summer courses are taught to the same high standard as our Master’s programs. Join us to:
Network with like-minded peers.
Study in vibrant Barcelona.
Learn from world-renowned faculty.
Admissions and requirements
Applicants must ensure they meet course requirements or verify eligibility with Admissions Counselors
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
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.
FAQ’s
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.
Can I take more than one course?
Yes! you can combine any of the Summer School courses (schedule permitting). See the full course calendar.
Are there any evening activities during the course?
A social dinner will take place during the week for all participants, it is free to attend.
Related Courses
Sovereign Debt Crises: Theory, Evidence and Policy
Numerical Methods for Fiscal and Monetary Policy Analysis
Monetary and Fiscal Policies for Productivity Growth
Economics. All rights reserved.
