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Learn about the macroeconomic motivation of the quarterly projection model (QPM), its key properties, model calibration, data filtration, and how to implement the QPM in MATLAB software in order to learn and understand practical model building and model operation as it is usually done in central banks.
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This online course, presented by the IMF's Institute for Capacity Development, introduces participants to quarterly projection macroeconomic models developed as a core of FPAS (Forecasting and Policy Analysis Systems) and how to implement the key canonical quarterly projection model (QPM) equations in a macroeconomic modeling software. This course uses detailed country data highlighting an inflation targeting central bank, for hands-on filtration and calibration exercises.
The course covers two main technical aspects:
In partnership with MathWorks, enrolled students have access to MATLAB for the duration of the course.
Monetary Policy Analysis and Forecasting is offered by the IMF with financial support from the Government of Japan.
Upon completion of this course, participants should be able to: