FSD Activities - Training Courses
Deep Learning
Instructors: Marcelo Fernandes and Eduardo Mendes
Dates: September and October, 2022
This course covers neural networks, text as data and deep learning applications to natural language processing. Main topics include: i) Fundamental concepts in Neural Networks; ii) Network architectures; iii) Implementation in Keras; iv) Natural Language Processing; v) Topic modeling,
Materials (to be published)
Videos (to be published)
Industrial Organization (IO) Approaches in Financial Economics Applications
Instructor: Ali Hortacsu
Dates: 06 - 09 September, 2022
This is a short course on the use of modern IO approaches to analyzing financial markets. The course reviews essential elements of the empirical IO toolbox, including demand estimation and structural econometrics of static and time allowing dymanic games. Special emphasis is given to models with choice/information frictions and their applications on choice and regulation in financial product markets. Finally, empirical literature on auctions and market design is discussed.
Materials (to be published)
Videos: (to be published)
Quantitative Methods in Macroeconomics with Julia
Instructor: Pablo Guerrón
Dates: 22 - 26 Agust and 1 - 7 September, 2022
This course is focused on teaching quantitative methods used in macroeconomics, such as tools in software engineering, numerical analysis, and global methods to solve DSGE models. Because of its nature, this course is highly applied with the programming language Julia.
Materials (to be published)
Videos: The course videos have been shared with participants through Google Drive. If you would like to regain access, please send an email to anace@iadb.org
Supervised Machine Learning
Instructors: Marcelo Fernandes and Eduardo Mendes
Dates: Agust and September, 2022
This course covers both linear and nonlinear predictive models in statistical learning. Main topics include: i) Introduction to statistical learning; ii) Linear models for prediction; iii) Tree-based models; iv) Models for classification; v) Model combination
Model based macroeconomic projections
Instructor: Jaromir Benes
Dates: May 9-13 and May 16,20, 2022
This course provided theoretical and practical sessions on macroeconomic modelling, and provided attendees with elements on linear and non-linear modelling training, covering the following aspects: simulation and forecasting techniques in linear models; theoretical introduction to simulation techniques in nonlinear models; practical simulation techniques in nonlinear models; Kalman filtering in nonlinear models; Bayesian estimation with system priors; and practical use of system priors.
Macroeconomics and the exchange rate
Instructor: Oleg Itskhoki (University of California, Los Angeles)
Dates: November 17 – 19, 2021
The goal of this course is to discuss tools and methodologies used in exchange rate analysis and international economics and to study the most recent literature on topics such as purchasing power parity, variable markups, foreign-currency price stickiness, and pricing for modelling the real economy.
Introduction to uncertainty and macroeconomics
Instructor: Pablo Guerrón (Boston College)
Dates: November 4 – 10 and November 29 – December 3, 2021
This course aims to train on methods used to solve macroeconomic models with uncertainty shocks based on recent literature. The course will be divided in two parts. The first part will introduce students to the quantitative tools to analyze models with uncertainty shocks. The second part will review the empirical regularities behind uncertainty shocks and different types of macroeconomic models used in the literature.
Videos: The course videos have been shared with participants through Google Drive. If you would like to regain access, please send an email to anace@iadb.org
Recent Developments in Forecasting: Estimation and Evaluation
Instructor: Barbara Rossi (University Pompeu Fabra)
Dates: November 3, 4, 5, 9, and 12, 2021
This course aims to train on recent advances in forecast estimation and evaluation. The main objectives of this course are: i) to discuss tools used in state-of-the-art empirical research; ii) to lay out the econometric foundations in empirical research; iii) to analyze selected recent works in forecast evaluation, with an emphasis on their empirical implications and analysis.
Labor Markets and Business Cycles
Instructors: Nicolas Petrosky-Nadeau (Federal Reserve Bank of San Francisco) and Jason Faberman (Federal Reserve Bank of Chicago)
Dates: September 27 - October 1 and October 25 - 29, 2021
This course is divided in two parts. The first part is related to the empirical and theoretical elements of aggregate labor market facts, along with tools for modeling labor market outcomes in the long run and over the business cycle. The Second part of the course is related to relevant empirical and theoretical literature on “Macro-Labor” economics and its relationship to the aggregate economy. The course focuses on business cycle dynamics and monetary policy.
Videos: The course videos have been shared with participants through Google Drive. If you would like to regain access, please send an email to anace@iadb.org
Unstructured Data Analysis for Macroeconomics and Monetary Policy
Instructor: Stephen Hansen (Imperial College Business School)
Dates: September 6 - 10, 2021
This course aims to train our Central Bank members in the incorporation of unstructured data in multiple applications of macroeconomic analysis and monetary policy. The training is divided into theoretical and practical material to provide tools for analysis and technical applications.
Videos: Monday, September 6, 2021 - Play recording; Tuesday, September 7, 2021 - Play recording; Wednesday, September 8, 2021 - Play recording; Thursday, September 9, 2021 Play recording; Friday, September 10, 2021 - Play recording
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"
Dates: July 27-29, 2020
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"
Dates: May 13-17, 2020 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.
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"
Dates: October 25-26, 2019. 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
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
December 18-19, 2017. Buenos Aires, Argentina
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).
Workshop on New Modeling Challenges for Central Banks in Latin America
October 26 - 27, 2017. Cochabamba, Bolivia
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. 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
Contingent Claims Analysis (CCA) and Macro-Financial Risk Analysis
June 30 - July 1, 2016. Santiago, Chile
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
August 3 - 5, 2016. Brasilia, Brazil
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
August 8 - 12, 2016. Brasilia, Brazil
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
August 15 - 19, 2016. Lima, Peru
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
October 24 - 28, 2016. Montevideo, Uruguay
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.