Two optional pre-conference
workshops will be offered to conference attendees prior to the start of CEF
2012. Registration for workshops is available online with conference
registration. The fee is $30 or 24Ä for 1.5 days and $10 or 8Ä for 1/2
day. Space is limited, and priority will be given to PhD
students (ID required at check-in). Non-students may register but will be waitlisted until after
May 1, 2012. Those who register and cannot be accommodated will be
refunded in full. Workshops will be held at the Diplomat Hotel.
1 1/2 Days: Monday June 25 --
9:00 a.m. to 5:30 p.m.
and Tuesday, June 26 -- 9:00
a.m. to 12:30 p.m.
IRIS Toolbox Summer Workshop 2012:
Introduction to Efficient DSGE Modelling
Presented by Jaromir
Benes, Developer of IRIS and
Senior Economist, Economic
Modeling Division, International Monetary Fund
and Martin Fukac, Economist, Federal
Reserve Bank of Kansas City
The workshop aims to explain the
principles of efficient DSGE model building using the examples of some of
the algorithms and solutions implemented in the
over the last decade. The workshop will consist of six hands-on
computer sessions, each focused on a different theme:
introduction to IRIS.
triangular solution to rational-expectations (RE) models and why it
of RE models. Unanticipated and
anticipated shocks. Unanticipated and
Models with unit
roots and why we donít need to stationarise them.
with unit roots and out-of-likelihood parameters.
information and parameter identification.
Bayesian estimation with an adaptive posterior simulator.
need to bring their own laptops with Matlab R2010a (or later) installed on
them. No prior experience with IRIS is required or expected.
1/2 Day: Tuesday, June 26 --
2:00 p.m. to 5:30 p.m.
Structural Estimation of Dynamic
Stochastic Optimizing Intertemporal Choice Microeconomic Models for Dummies
Christopher Carroll, PhD, Professor of Economics, The Johns Hopkins
University and NBER Co-Chair of the Working Group on the Aggregate
Implications of Microeconomic Consumption Behavior
This lecture will present a
complete introduction to some modern tools for estimating intertemporal
optimizing models of consumption and saving over the life cycle, with an
emphasis on insights and techniques that have general applicability to many
similar models that are becoming increasingly popular in the "structural
estimation" literature. The lecture will highlight the pitfalls to be
avoided and opportunities to be seized for solving and simulating these
kinds of models quickly and efficiently. The emphasis is not on presenting
the bleeding edge ideas or summarizing the latest methods or speculative new
approaches, so gurus in the field may not benefit so much as novices
("dummies"). The focus will be on methods that can be easily implemented on
a laptop. These lecture notes form the basis for the talk: