We have been holding a summer school every year on Stag Hill campus since September 2012.
The Summer School will be held online this year. This decision has been made to ensure the safety of our participants, our colleagues and all those involved with the Summer School.
Our Summer School currently consists of:
Day 1 - 4: Two parallel four-day courses, foundations of dynamic stochastic general equilibrium (DSGE) modelling and advanced topics in macro-modelling.
Day 5: Several stand-alone courses covering a specific topic each.
Day 6 - 8: Three-day course on international trade, with a focus on gravity models and international trade frictions
Two four-day courses run in parallel to each other:
Foundations of DSGE Macro-Modelling
The main goal of the Foundations of DSGE Modelling course is to provide instructions on the construction and estimation of Dynamic Stochastic General Equilibrium (DSGE) models and for their use for policy analysis. It begins with the basics of Dynare and proceeds to the construction of a closed economy NK DSGE model. It will then progress to the estimation of the model by Bayesian methods and finish by introducing Heterogeneous Agent New Keynesian models.
This course is Dynare-based and is aimed at:
- PhD, MSc or MRes students aiming to proceed to a PhD and early researchers who want to learn about DSGE modelling.
- Researchers and practitioners working at central banks, as well as at other private and public institutions who intend to construct or use DSGE models.
We require participants to have some prior experience with macroeconomic models and dynamic optimization and a basic knowledge of MATLAB, but no prior knowledge of Dynare is necessary.
Advanced topics in Macro-Modelling
The Advanced Topics in DSGE Modelling course is aimed at more established researchers or advanced PhD students who are already fluent in Dynare and MATLAB. This course will be useful to anyone who is engaged in practical macroeconomic modelling work, especially if they are interested in working with models that are either computationally expensive to simulate, highly nonlinear, require additional recursive assumptions, or have infinite dimensional state-spaces due to agent heterogeneity.
The foundations and advanced courses run in parallel for four days. Then on day five, participants are able to choose one option of the standalone course. Any option can be chosen by all participants from both the foundations and advanced courses free of charge. Participants not attending the parallel courses on the first four days will be able to register for the options.
In the past the following stand-alone courses have been offered:
1. DSGE-VAR Models and Forecasting
2. Emerging Open Economies
3. Financial frictions
4. Occasionally Binding Constraints and Nonlinear Estimation
5. Optimal Policy Applications
6. From Matlab to Python in One Day
7. Credit Market Imperfections and Poverty Traps
8. Tractable Heterogeneous Agents Models (TANK/HANK)
The current course offering is listed below under 'upcoming courses.'
This consists of a two-day course in gravity modelling followed by a one-day course in topics in international trade.
The first day will be centred on introducing the theoretical background of the gravity equation and its main applications for economic policy. On the second day, the course will move on to address the actual challenges in terms of computation and estimation of the gravity equation for international trade. Students will be introduced to the estimation of gravity models using different econometric approaches, including pseudo-maximum likelihood estimators. The third day will consist of three separate two-hour sessions on topics that will expand on issues related to international trade flows beyond the standard gravity equation approach.
This summer school is suitable for PhD students and advanced masters students with a focus on international trade. It is also suitable to practitioners and policymakers working on international trade, with especial interest in applications of gravity models and in deepening their understanding of the determinants of trade flows. The first two days of the course assumes basic undergraduate-level knowledge of econometric methods and familiarity with basic Stata commands.
Students can either apply for one of the full summer school courses, or they can attend one or two of the stand-alone courses.
Should you require any further information or for enquiries please contact the CIMS team.
The courses have been taught by the following instructors over the years:
|Tamon Asonuma||2021, 2022||Sovereign debt and default|
|Holger Breinlich||2022||International Trade and Gravity Models|
2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022
Foundations, financial frictions, Tractable Heterogeneous Agents Models
2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022
Foundations, Advanced Topics, occasionally binding constraints and simple non-linear estimation
2013, 2014, 2015, 2016
Foundations, DSGE-VAR models and forecasting
2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021
Foundations, emerging open economies, DSGE-VAR
|Eric Golson||2022||International Trade and Gravity Models|
2014, 2015, 2016, 2017, 2018
Advanced Topics, occasionally binding constraints and simple non-linear estimation
|2020, 2021, 2022||Credit Market Imperfections and Poverty Traps|
Robust Qualitative Methods for Macro
|Hyungseok Joo||2020, 2021, 2022||Advanced Topics, Sovereign Debt and Default|
2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020
Foundations, financial frictions, emerging open economies
2013, 2014, 2015, 2016, 2017, 2018, 2019
Foundations, From Matlab to Python in One Day
|Silvia Miranda-Agrippino||2021, 2022||Empirical Identification of Macroeconomic Shocks|
|Maryam Mirfatah||2020, 2021, 2022||Foundations|
2017, 2018, 2019, 2020, 2022
DSGE-VAR models and forecasting, financial frictions
2018, 2019, 2020, 2021, 2022
Foundations, Advanced Topics, Optimal policy
|2020, 2021, 2022||Advanced Topics, Heterogeneous Agents and Wealth Accumulation|
|2021, 2022||Financial Markets: Collateral, Repo, and Credit Default Swaps|
2012, 2013, 2014, 2015, 2017, 2018
Foundations, imperfect information and advanced optimal policy, financial frictions
|2020, 2021, 2022||Foundations|
|Joao Santos Silva||2022||International Trade and Gravity Models|
|2020, 2021, 2022||Foundations, Advanced Topics, Sovereign Debt and Default|
|Kjetil Storesletten||2021, 2022||Advanced Topics|
2013, 2014, 2015, 2016, 2017, 2018, 2019
Advanced Topics, Foundations, imperfect information and advanced optimal policy, financial frictions, occasionally binding constraints and simple non-linear estimation
|Alessio Volpicella||2021, 2022||Foundations|
|Bo Yang||2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019||Foundations, DSGE-VAR models and forecasting|
More details on the content of our Summer Schools in each year can be found following the links in the table below.
|2021||7 - 15 September||View full programme (PDF)|
|2020||7 - 11 September||View full programme (PDF)|
|2019||9 - 14 September||View full programme (PDF)|
|2018||3 - 8 September||View full programme (PDF)|
|2017||4 - 8 September||View full programme (PDF)|
|2016||30 August - 3 September||View full programme (PDF)|
|2015||7 - 11 September||View full programme (PDF)|
|2014||8 - 13 September||View full programme (PDF)|
|2013||10 - 13 September||View full programme (PDF)|
|2012||10 - 13 September||View full programme (PDF)|