Deadline for registration: 17 May 2017
This one-day training course will be held by Fabio Canova (BI), Wouter den Haan (LSE) and Junior Maih (Norges Bank).
The course will present the most recent methods to study models with occasionally binding constraints and will be divided in three parts:
1. The first part of the course will deal with piecewise linear approxiations methods, presenting estimations of models solved with these techniques.
2. The second module will deal with Markov Switching specifications, solution, simulation and applications.
3. The third part of the course will present projection methods. These methods can easily deal with nonlinearities; in addition, dealing with occasionally binding constraints is trivial for projection algorithms.
It is expected that course participants have a good prior knowledge of dynamic macroeconomic models, including basic knowledge of perturbation techniques.