Narodowy Bank Polski

Heterogeneity and multi-country modelling
WGEM Workshop

Warsaw, 7 June 2013

The recent macroeconomic and financial developments have brought to the fore the need for economic analysis and policy making to account for the interdependencies that exist across countries, sectors and markets. In this global scenario, with common and idiosyncratic shocks quickly propagated across borders, there is a twofold need, namely (i) for policy makers to understand and monitor not only national but also international developments as well as different dimensions of heterogeneity, and (ii) for modelers to build tools that assign a prominent role to the international dimension, with countries reacting to foreign developments in heterogeneous ways.

Against this background and in line with the ESBC Working Group on Econometric Modelling (WGEM) work programme for 2013, the European Central Bank and the National Bank of Poland have recently organised a workshop on “Heterogeneity and multi-country modelling”. The workshop, held in Warsaw on 7 June 2013, provided a forum for the discussion of various topics organised in two sessions comprising both theoretical and empirical contributions.

Organising committee:
Michal Brzoza-Brzezina (NBP), Matteo Ciccarelli (ECB), Gunter Coenen (ECB), Marcin Kolasa (NBP)

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