Courses
Monetary Policy Implementation Tools (MPIT)
November 12th to 16th, 2023
The course presents how to use advanced forecasting techniques to estimate autonomous factors of the central bank balance sheet. The objective is to improve the calibration of the monetary policy liquidity operations, rightsizing the reserve requirement, and/or publishing liquidity information for the market. The course will incorporate recent advances in forecasting literature and international best practices, back-test different forecasting models with various degrees of complexity and provide guidance to implement the most suitable model. The faculty will deliver the software infrastructure (open source) so that the authorities can easily apply the model to their day-to-day work.
