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Location: Cedar Hall, HQ1-1-660
OVERVIEW
Capacity development has helped central banks to develop new tools to take monetary policy decisions and implement them. On the policy decision side, many central banks are looking to upgrade their analytical tools, expressing a strong interest in dynamic stochastic general equilibrium (DSGE) models, especially given that the evolving nature of economic shocks demands a coherent assessment of alternative economic policy scenarios. DSGE models can be used to quantify the benefits of coordinating interest rate and foreign exchange policies. Increasingly central banks would like to anticipate developments in systemic liquidity, exchange rates, and interest rates to calibrate their monetary policy operations and measure risks. To this end, the IMF’s Monetary and Capital Markets Department has introduced modern forecasting techniques for liquidity management and the calibration of monetary operations. This CD Talk explores the hands-on training with this suite of free, open-source software designed to help central banks implement these new quantitative tools.
SPEAKERS
Marcin Kolasa, Senior Financial Sector Expert, Monetary and Capital Markets Department, IMF
Marcin Kolasa is Senior Financial Sector Expert in the Monetary Policy Modeling Unit of the International Monetary Fund. His main responsibilities include developing and applying structural models for macroeconomic policy analysis. Before joining the IMF, Marcin spent most of his professional career at Narodowy Bank Polski, where he was supervising economic research and was responsible for preparing macroeconomic projections published in the inflation reports. He also worked as Expert at the European Central Banks, held professorship in economics at the SGH Warsaw School of Economics, and was visiting scholar at Columbia University. He has published numerous articles on monetary policy, open economy issues, financial intermediation, and economic forecasting.
Dejan Kovacevic, Senior Financial Sector Expert, Monetary and Capital Markets Department, IMF
Dejan Kovacevic, a national of Bosnia and Herzegovina, joined MCMCO as a senior financial sector specialist. He joined the IMF from his country’s central bank, where he worked on the foreign reserves management and monetary operations. Dejan holds PhD in macroeconomics and MSc in financial management from the University of Belgrade. He was a visiting researcher at Geneva Graduate Institute for International and Development studies. His research interests include macroeconomics, monetary economics, monetary policy analysis, financial markets, investment and risk management and portfolio analysis.
Romain Veyrune, Deputy Division Chief, Monetary and Capital Markets Department, IMF
Romain Veyrune, Ph.D., is Deputy Division Chief in the Central Banking Division of the International Monetary Fund. He supervised the liquidity management, central bank domestic operations, and foreign exchange intervention strategy workstreams for his department. Romain has over 17-years of diversified career, of which 15 years as an economist at the International Monetary Fund (IMF) and 2 years at the European Central Bank (ECB) as market operation expert. At the IMF, he contributed to program preparation, cross-functional and fund-wide projects, technical assistance missions, Financial Sector Assessment Programs, and IMF major publications. At the European Central Bank (ECB), Romain contributed to the development of the money market and liquidity analysis for the liquidity committee. Romain has published articles on forecasting models for foreign exchange decisions, curve fitting for banks; demand for reserves, and autonomous factor forecast quality. Romain holds a Ph.D. in Development Economics.
