FSD Activities - Training Courses

Online training "Panel data econometrics: Causal Inference in Corporate Finance". Dates: October 26-30, 2020

The Financial Stability and Development (FSD) Network of the Research Department at the IDB and the Central Bank of Brazil are co-organizers of this virtual training. This advance course aims to provide empirical treatment of major topics in corporate finance, and it will also provide participants with a toolbox and working knowledge of cross-sectional and panel data empirical corporate finance research methods. 




Online Training "Nowcasting". Dates: November 17-25, 2020

The Financial Stability and Development (FSD) Network of the Research Department at the IDB and the Central Bank of Colombia are co-organizers of this virtual training. This course provides an introduction to state space methods and dynamic factor models, with an eye towards nowcasting. It covers real-time data, which is crucial for nowcasting. Mixed-frequency data will also be front and center since most modern nowcasting methods combine data of different frequencies. It discusses the theory of the methods being used along with interesting applications and some example codes both in MATLAB and in Eviews.




Virtual Summer Course "Heterogeneous Agents New Keynesian (HANK) Models". July 27-29.

The Financial Stability and Development (FSD) Network of the Research Department at the IDB and the Central Bank of Chile are co-organizers of this virtual training. This short course is a primer to `HANK' models, i.e. macroeconomic models which combine heterogeneous households and incomplete markets on the household side with a standard New-Keynesian block. It discussed (a) the main economic mechanisms at work in this framework, (b) some key methodological aspects of their numerical computation, and (c) how to perform quantitative analysis with them. Particular emphasis will be put on the effects of conventional and unconventional monetary policy.



Workshop "Macroprudential and Financial Stability". May 13-17. Brasilia, Brasil.

The Financial Stability and Development (FSD) Network of the Research Department at the IDB and the Central Bank of Brazil are co-organizers of this workshop. The objective of this training is to develop key aspects of Macroprudential and financial stability modeling, including the theoretical justification for Macroprudential interventions.

Macroprudential and Financial Stability Workshop

Combining short theoretical and conceptual presentations with extensive hands-on computer-aided sessions, this workshop covers three broad areas: (i) develop basic theoretical insights into macro-prudential and financial stability issues, (ii) construct a semi-structural framework for practical use cases, in particular macroprudential analysis and macro stress test generation, and (iii) introduce and model the most essential concepts from bank balance sheet accounting and regulatory reporting. Structured according to these broad categories of objectives, the workshop is divided into three main blocks further detailed in the program below.

Instructor: Jaromir Benes (OGResearch)



Workshop "Big Data in Macroeconomics and Finance". October 25-26. Buenos Aires, Argentina.

The Financial Stability and Development (FSD) Network of the Research Department at the IDB and the Central Bank of Argentina are organizers of this workshop.

This course is an introduction to modern time series econometrics, with an emphasis on methods designed to deal with “big data” in macroeconomics and finance. The two main subjects of the course are: (i) univariate predictive regressions with many regressors; (ii) Bayesian VARs, as a popular example of big data multivariate models, which also represent a bridge between reduced-form and structural models.

Instructor: Giorgio Primiceri

Draft Agenda



Workshop on Forecasting Methods for Central Bankers: jointly organized with the Central Bank of Colombia. Instructor: Jaromír Beneš.

Jun 17-23, 2018. Bogota, Colombia.




Workshop on Macroeconomic Modeling with Julia - with applications in optimization models and estimation models. Buenos Aires, Argentina - December 18-19, 2017.

This workshop was jointly organized by the FSD network and the Central Bank of Argentina. Instructors: Marco del Negro (Federal Reserve Bank of New York), Abhi Gupta (Federal Reserve Bank of New York), and Pearl Li (Federal Reserve Bank of New York).



Group Picture


 Workshop on New Modeling Challenges for Central Banks in Latin America. This workshop was jointly organized by The 8th Bolivian Conference on Development Economics (BCDE8) and the IDB’s Financial Stability and Development (FSD) network of South American Central Banks and took place in Cochabamba, Bolivia. October 26-27, 2017.

The goal of this workshop was to gather ongoing research papers from central banks in the region that are incorporating current macroeconomic challenges into the otherwise standard modeling framework that has guided monetary policymaking in the region.




Contingent Claims Analysis (CCA) and Macro-Financial Risk Analysis. Santiago, Chile. June 30th- July 1st, 2016.

This course focused on the use of CCA as a supplement to traditional stress testing, combining both bank and sovereign stress testing. The analysis of CCA (for corporates and banks) will be applicable for daily data of FSD countries. This course was delivered by Dale Gray (senior risk expert in the Monetary and Capital Markets Department of the IMF).


Financial Markets and Monetary Policy. Brasilia, Brazil. August 3rd-5th, 2016.

The purpose of this course was to introduce junior staff to the central features of modern macroeconomic theory that allows us to understand recent economic developments in the global economy as well as the foundations for macroeconomic policies to preserve financial and price stability from the point of view of central banks. The course was delivered by Prof. José De Gregorio (Department of Economics at the University of Chile).


Global Projection Model. Brasilia, Brazil. August 8th-12th, 2016.

The Global Projection Model (GPM) is a quarterly forecasting model of the global economy that allows producing extended macroeconomic forecasts considering spillovers between the different regions of the world. The Central Bank of Brazil opened its training course to FSD central banks considering the possibility of using this tool or interested in getting acquainted with the techniques used in the GPM, which is used by IMF and other central bank counterparts.


VARs For Quantitative Analysis In Central Banking. Lima, Peru. August 15-19th, 2016.

The course in VARs for quantitative Analysis for central banking had the following objectives: (i) offer to the participants the recent developments of estimation and inference with VAR methodology; and (ii) discuss practical applications for central banks of Bayesian vector autoregression models, factor models and Factor augmented VARs, global VARS and Panel VARS. This course was taught by Prof. Fabio Canova (Norwegian Business School and the Florence School of Banking and Finance).


Capital Planning & Stress Testing. Montevideo, Uruguay. October 24th-28th, 2016.

This activity was aimed at central bank professionals responsible for doing stress testing. It was jointly organized by the Central Bank of Uruguay and the Asociación de Supervisors Bancarios de las Américas. The course was taught by specialists from the Federal Reserve of the United States. It also included a discussion panel in which three central banks of the FSD shared their experiences, challenges, and perspectives in their capital planning and stress testing practices.


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