This course is aimed at MSc, MRes and PhD students, early researchers, and research staff from central banks, ministries, and the private sector, all with some prior experience of macroeconomic modelling. Its contents differ from the CIMS summer school courses, which are usually held in September. The Easter school is focused on a shorter list of themes, some of which not commonly found in summer schools offered by most economics departments.
This year the CIMS Easter school will cover:
• Inequality and risk-sharing in incomplete markets - taught by K. Storesletten
• Collateral and repo markets - taught by M. Pascoa
• Optimal fiscal policy - taught by R. Oikonomou
• DSGE modelling for emerging economies - taught by P. Levine and M. Mirfatah.

Mike Wickens, 28 January 2020

Where should the emphasis lie in macroeconometric modelling between the purity of the economic theory and empirical performance? The widespread use of DSGE models estimated by Bayesian methods has been accompanied by a downgrading of the role of statistical fit. This column reviews the issue and concludes that the challenge is to incorporate greater flexibility into the theory in such a way as to be compatible with both the theory and the data.

Fabio Ghironi, 03 July 2016

Debate surrounding the Trans-Pacific Partnership (TPP) is raging. Economists on different sides of the debate have used different arguments and tools to support their positions. This column surveys several recent studies and the strategies they employ in modelling the potential effects of TPP. It argues that structural models need to start from micro foundations, and need to incorporate trade and macro dynamics. The general results of these studies lend support to those who think that TPP will be beneficial.


CEPR Policy Research