{"id":10398,"date":"2021-10-06T11:28:32","date_gmt":"2021-10-06T02:28:32","guid":{"rendered":"https:\/\/www.waseda.jp\/inst\/sgu\/?p=10398"},"modified":"2021-10-06T11:28:32","modified_gmt":"2021-10-06T02:28:32","slug":"special-workshop-on-macroeconomic-modeling-and-simulation-by-professor-junior-maih","status":"publish","type":"post","link":"https:\/\/www.waseda.jp\/inst\/sgu\/news-en\/2021\/10\/06\/10398\/","title":{"rendered":"Special Workshop on Macroeconomic Modeling and Simulation by Professor Junior Maih"},"content":{"rendered":"<h2>The Center for Positive\/Empirical Analysis of Political will hold a special workshop on &#8220;Macroeconomic Modeling and Simulation&#8221; by Professor Junior Maih, following last year&#8217;s workshop.<\/h2>\n<p>&nbsp;<\/p>\n<h4>Outline<\/h4>\n<p>This is an introductory workshop to the modeling of macroeconomy. While the workshop is meant for graduate students and professionals, it does not require prior knowledge of the complexities involved in DSGE modeling and\/or the RISE toolbox, which will be used for applications.<\/p>\n<h4>Objectives<\/h4>\n<p>The intention of this introductory workshop is not to train participants to become specialists in the field, but instead for them to gain a basic exposure to the main techniques involved in solving and analyzing DSGE models so that they may start using those techniques in their work. Although no prior knowledge of DSGE modeling is assumed, the workshop is quite fast-paced and thus additional reading is provided to help participants to consolidate material. By the end of the workshop participants should:<\/p>\n<p>&#8211; Understand the economic foundations of DSGE models and how they relate to policy issues.<br \/>\n&#8211; Be able to write dynamic models in a general form suitable for solution, simulation and estimation in a computer using the RISE toolbox.<br \/>\n&#8211; Implement basic solution and simulation techniques to analyze DSGE models, showing how the model economies respond to different shocks.<\/p>\n<p>&nbsp;<\/p>\n<ul style=\"list-style-type: square;\">\n<li>Lecturer: Prof. Junior Maih (Norges Bank, Norwegian Business School)<\/li>\n<li>Date &amp; Time: From October 18 to December 20, 2021 &#8212; Every Monday from 16:30 to 18:00 (JST)<\/li>\n<li>Venue: Zoom<\/li>\n<li>Open to Waseda graduate students and the general public, free admission<\/li>\n<li>Registration: Please contact Prof.Hamano at\u00a0<a class=\"addicn\" href=\"mailto:masashige.hamano@waseda.jp\">masashige.hamano@waseda.jp<\/a><\/li>\n<\/ul>\n<ul style=\"list-style-type: circle;\">\n<li>System requirements (programs)<br \/>\nMatlab (core matlab, optimization toolbox, statistics toolbox)<br \/>\nMikTex, dropbox, oxedit (optional)<\/li>\n<\/ul>\n<h4>Schedule\u00a0 (10 sessions, 90 minutes each)<\/h4>\n<h3>Lecture 1: Constant-parameter DSGE modeling and Introduction to RISE (10\/18)<\/h3>\n<p>A prototypical DSGE model<br \/>\nSolution strategies<br \/>\nThe RISE programming environment<br \/>\nImplementation of the model<br \/>\nCalibration<br \/>\nDeterministic solutions<\/p>\n<h3>Lecture 2: Solving the steady state (10\/25)<\/h3>\n<p>Analytical solution: The steady state model<br \/>\nAnalytical solution: The steady state file<br \/>\nEndogenous parameters<br \/>\nNumerical solutions: Equation simplification<br \/>\nNumerical solutions: alternative solvers<br \/>\nNumerical solutions: constraints on the search space<br \/>\nNumerical solutions: block triangularization<br \/>\nThe balanced-growth path of nonstationary models<\/p>\n<h3>Lecture 3: Stochastic solution via first-order perturbation (11\/1)<\/h3>\n<p>The dynamics<br \/>\nBasic usages of the solution<br \/>\nSimulations<\/p>\n<h3>Lecture 4: Bayesian Estimation (11\/8)<\/h3>\n<p>Implementation of priors<br \/>\nMeasurement errors: importance and implementation<br \/>\nPosterior maximization<br \/>\nPosterior simulation<br \/>\nIllustrating uncertainty<br \/>\nEndogenous priors<br \/>\nIndirect inference<\/p>\n<h3>Lecture 5: Optimal policy (11\/15)<\/h3>\n<p>Commitment<br \/>\nDiscretion<br \/>\nLoose commitment<\/p>\n<h3>6. Lecture 6: Perturbation solutions of Regime Switching DSGE models with constant transition probabilities (11\/22)<\/h3>\n<p>A prototypical model and the RISE implementation<br \/>\nPerturbation approaches<br \/>\nMultiplicity of steady states and their implications<br \/>\nDynamic solution and mean-square stability<br \/>\nIndependent Markov processes<br \/>\nParameters controlled by several Markov processes<\/p>\n<h3>7. Lecture7: Regime Switching DSGE models with time-varying transition probabilities (11\/29)<\/h3>\n<p>Endogenous probabilities in the prototypical model<br \/>\nHigher-order perturbation<br \/>\nDynamic solution and heuristic stability<br \/>\nComputation of moments<br \/>\nSimulation<\/p>\n<h3>8. Lecture 8: Bayesian Estimation of Regime Switching DSGE models (12\/6)<\/h3>\n<p>Filtration and Likelihood computation in the presence of regime switching<br \/>\nState normalization and nonlinear constraints<br \/>\nPriors implementation<br \/>\nNonlinear constraints<br \/>\nPosterior maximization and posterior simulation<\/p>\n<h3>9. Lecture 9: Further topics in Bayesian estimation (12\/13)<\/h3>\n<p>Computation of Marginal data density<br \/>\nConvergence diagnostics<br \/>\nModel comparison<\/p>\n<h3>10. Lecture 10: Optimal Ramsey Policy under regime switching (12\/20)<\/h3>\n","protected":false},"excerpt":{"rendered":"<p>The Center for Positive\/Empirical Analysis of Political will hold a special workshop on &#8220;Macroeconomic M [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":10416,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[83,99],"class_list":["post-10398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-events-en","tag-en-eape"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/posts\/10398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/comments?post=10398"}],"version-history":[{"count":2,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/posts\/10398\/revisions"}],"predecessor-version":[{"id":10447,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/posts\/10398\/revisions\/10447"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/media\/10416"}],"wp:attachment":[{"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/media?parent=10398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/categories?post=10398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/sgu\/wp-json\/wp\/v2\/tags?post=10398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}