Centre for International Macroeconomic Studies - Workshop 3
- When?
- Wednesday 17 November 2010, 11:00
- Where?
- 04AD00
- Open to:
- Staff
- Speaker:
- Prof. Peter MacAdam, Prof. Paul Levine, Prof. Simon Wren-Lewis
Workshop 3 will be held on November 17-18th, 2010, University of Surrey, Department of Economics, Room 4, starting with coffee at 11.00. The focus for this event is our new two-year ESRC-financed Project: Monetary and Fiscal Policy Rules with Labour Market and Financial Frictions which started on Oct 1st. We are delighted to welcome Prof. Simon Wren-Lewis (Oxford) and Prof. Albert Marcet (LSE). There is also a theme of non-unitary capital-labour substitution running through the first two sessions. Then immediately following the workshop we will be holding a staff seminar given by Albert related to the projects financial frictions theme on asset price bubbles.
On Thursday morning we will be holding another of our DYNARE workshops, focusing on this occasion on estimation and validation of DSGE models.
AGENDA
November 17 Programme
11-11.30. Coffee and introduction.
11.30-12.30 Technology, Utilization and Inflation: Re-assessing the New Keynesian Fundamental Peter McAdam.
12.30-1.30 A New Workhorse Empirical DSGE Model Cristiano Cantore, Filippo Feroni, Paul Levine and Bo Yang
12.30-1.30 Lunch
2.30-3.30 Fiscal Policy Failure: Ignorance, Ideology or Indulgence Simon Wren-Lewis
3.30-4.00 Coffee
4.00-5.30 Staff Seminar: Internal Rationality, Imperfect Market Knowledge and Asset Prices Albert Marcet
5.50-7.00 Drinks in Waites House
7.00- Dinner in Guildford
November 18 Programme
Morning: DYNARE Workshop 10.00-1.00am
Bayesian Estimation and Validation
Topics:
1. Setting up CES Production functions in Dynare (Cristiano Cantore)
2. Detrending the Data Series (Bo Yang)
3. Bayesian Estimation of the SW07 Model with a CES Production Function (Cristiano Cantore, Bo Yang)
4. Comparison with Second Moments of Data (Bo Yang)
11.45 Coffee
5. Assessment using a DSGE-VAR Model as Benchmark (Paul Levine)
6. Identification Issues (Vasco Gabriel)
1.00-2.00 Lunch
2.00-3.00 ESRC Bid
Provisional Title: Macroeconomic Modelling and Factor Substitutability (Miguel L-L)
3.00-3.15 Coffee
3.15-4.30 Macroeconomic Modules (Surrey staff only)