Central Bank Workshop on Macroeconomic Modelling

In the past five years, central banks have devoted considerable effort to building general equilibrium models that can be used as policy analysis tools and also to help understand the links between money, inflation and business cycle fluctuations. In order to be useful for policy making, such models should be capable of making accurate forecasts of the macroeconomic data. However, their forecasting performance depends not only on the model structure and its calibration and estimation, but also on the data. The challenge to policy makers is therefore to learn how to evaluate and improve the forecasting performance in the presence of data uncertainty.

The Central Bank Workshop on Macroeconomic Modelling will this year be organized by the Banco de la Republica de Colombia and bring together researchers from different central banks and other policy making institutions to discuss recent developments in this area.  It will take place at the city of Cartagena de Indias, during 9-10 of October. Keynote speakers will be Fabio Canova (Universitat Pompeu Fabra) and Douglas Laxton (IMF).