TOP


Hong Kong Institute for Monetary Research (HKIMR)

Workshop on "Building and Solving Macroeconometric Models using WinSolve"

11 April 2006 (Tuesday) - 12 April 2006 (Wednesday)



11 April, Tuesday

9:00 - 9:30 Registration and Welcoming Coffee

9:30 - 9:35 Opening Remarks,

Hans Genberg, Director, Hong Kong Institute for Monetary Research
9:35 - 10:45 Introduction to WinSolve
This first session will cover the basics: building a model, the WinSolve modelling language, adjustments and how to use them, data files, running log files of commands.
con_paper_0_271_hktut1.pdf
10:45 - 11:00 Coffee Break

11:00 - 12:30
Introductory hands-on session
12:30 - 14:00 Lunch

14:00 - 15:15 Simulation and forecasting in WinSolve
Setting up simulations, shocking equations, target-instrument solutions. Forecasting issues: the ragged edge, projecting exogenous variables, the role of judgment.

con_paper_0_276_hktut2.pdf
15:15 - 15:30 Coffee Break

15:30 - 16:30 Hands-on session on simulation and forecasting

16:30 - 17:45 Seminar on "Offshore Financial Centers: Parasites or Symbionts?"
Andrew Rose, University of California, Berkeley

con_paper_0_279_rose-paper060411.pdf
17:45 - 18:00 Break

18:00 - 22:00 Workshop dinner

12 April, Wednesday

9:00 - 9:30 Morning Coffee

9:30 - 10:45 Stochastic simulation and optimal control in WinSolve
Computing model moments by simulation and producing fan charts. Control exercises: optimal control, imposing smooth instrument paths, estimating optimal simple rules.

con_paper_0_284_hktut3.pdf
10:45 - 11:00 Coffee Break

11:00 - 12:30 Hands-on session on stochastic simulation and optimal control

12:30 - 14:00 Lunch

14:00 - 15:30
Solving DSGE models
Rational expectations, approximation methods, linearisation and log-linearisation. Solving for the deterministic steady state. Alternative solution methods. Terminal conditions and how to use them.

15:30 - 15:45 Coffee Break

15:45 - 17:30 Hands-on session on DSGE models

17:30 End



<< Back