What is MACFINROBODS

MACFINROBODS is the acronym for:

“Integrated Macro-Financial Modelling
for Robust Policy Design

In this project 11 European Universities collaborate with the European Commission’s Joint Research Centre in a consortium of experienced researchers in the field of macro- and financial economics, supported by an advisory board of influential academics of the highest worldwide reputation and policy makers at central banks and finance ministries.

The three-year project (2014-2017) is funded by the European Commission and brings together different lines of research to systematically develop new behavioural and institutional model building blocks, to integrate such features in policy-focused models and to make use of these models in a new framework for policy evaluation.

Read more

Vision

During the global financial crisis and ensuing Great Recession, economists at policy-making institutions had little choice but to augment macroeconomic models with ad-hoc assumptions and adjustments in order to provide analysis and advice for policy makers. The MACFINROBODS consortium aims to move policy-focused macroeconomic modelling beyond this approach.

Read more

 

Project Coordination

Project Coordinator: Cars Hommes (UvA)
Project manager: Karin Breen (UvA)

Questions?

Send an e-mail

News

The second MACFINROBODS conference in Brussels, 20-21 June 2016

2016-06-18

PROGRAM, LOCAL INFORMATION AND PAPERS AVAILABLE NOW

Read more


Third MACFINROBODS Workshop on 17 and 18 November 2016

2016-03-15

Dates for third Workshop have been set, event will take place in Como, ITALY

Read more


Events

do17nov

Third Consortium Scientific Workshop

ITALY - Lake Como

17 and 18 November 2016

The third Workshop will be jointly organized by the Italian nodes: Universita Degli Studi di Pavia (Guido Ascari), Universita Catholica del sacro Cuore (Domenico Delli Gatti) and Joint Research Centre (Marco Ratto) on 17 and 18 November 2016 in Como,  Italy
Workshop venue:
Villa del Grumello
Via per Cernobbio, 1122100 Como, Italy
More detailed information will follow in due course.

 


ma20jun

Second Annual Dissemination Conference

National Bank of Belgium - Brussels

20-21 June 2016

The second Annual Dissemination Conference will be jointly organized by the National Bank of Belgium (NBB/BNB), Université Libre de Bruxelles (ULB) and Catholic University Leuven (KUL) on 20 and 21 June 2016. 

Keynote speakers:
Wouter den Haan (LSE)
Stephanie Schmitt-Grohé (Columbia University)
Chris Sims (Princeton University)
Martin Uribe (Columbia University)

Final Program and Local information:
Please download the final program and Local information  here

Conference dinner
The conference dinner on Monday night will be chaired by the Governor of the National Bank of Belgium (Invitation only)

Papers:
Firms’ Dynamics and Business Cycle: New Disaggregated Data, Emilio Zanetti Chini (download pdf)
Keynote Lecture: Unemployment (Fears) and Deflationary Spirals, Wouter den Haan (download pdf)
Monetary and Fiscal Policy Interactions: Leeper (1991) Redux, Guido Ascari (download pdf)
Adaptive Learning and Survey Expectations on Inflation, Sergey Slobodyan (download pdf)
Is guidance the solution for central banks? Experimental study on the effect of nominal price level targeting with guidance,
Tomasz Makarewicz (download pdf)
Keynote Lecture: A Model of the Twin Ds: Optimal Default and Devaluation, Stephanie Schmitt-Grohé (download pdf)
International Business Cycles and Risk Sharing with Uncertainty Shocks and Recursive Preferences, Robert Kollmann (download pdf)
Optimal Policy with Heterogeneous Agents and Aggregate Shocks: An Application to Optimal Public Debt Dynamics, Xavier Ragot (download pdf)
The Extended Path Approach (presentation sheets), Stéphane Adjemian (download pdf)
Existence and Uniqueness of Solutions to Dynamic Models with Occasionally Binding Constraints, Tom Holden (download pdf)
Keynote Lecture: Multiple Equilibria in Open Economy Models with Collateral Constraints: Overborrowing Revisited, Martin Uribe (download pdf)

Posters
Fiscal Consolidations and Finite Planning Horizons, Joep Lustenhouwer (download pdf)
Tractable Estimation of Non-Linear DSGE Models Using Observation Equation Inversion, Robert Kollmann (download pdf)

 


wo18mei

Course - Identification analysis and global sensitivity analysis for Macroeconomic Models

Università Cattolica del Sacro Cuore - Milan

18-20 May 2016

The course is organised by Marco Ratto, Joint Research Centre (JRC) of the European Commission and Domenico delli Gatti, Università Cattolica del Sacro Cuore (Milano).

It will be animated by: Marco Ratto, Stefan Hohberger, Ronal Muresano Caceres (JRC Unit G.01), Matthias Burgert (ECFIN Unit B.3).

External Speakers: Johannes Pfeifer (Univ. Mannheim), Michel Juillard (Banque de France), Junior Maih (Norges Bank).

 

The scope of the course is to give a general introduction to methods of identification and global sensitivity analysis, their DYNARE implementation (identification toolbox and global sensitivity analysis toolbox) and their application to Dynamic Stochastic General Equilibrium (DSGE) macroeconomic models.

For more information https://ec.europa.eu/jrc/en/event/training-course/dynare-course