The Barcelona CREI Macroeconomics Summer School offers an overview of the current state of research in key areas of macroeconomics. Courses, which are taught by leading experts in their fields, cover recent developments in different areas of macroeconomics, including growth, international finance and trade, asset bubbles, political reform, financial intermediation, fiscal and monetary policy and forecasting. The courses are aimed at graduate students as well as more senior researchers and practitioners willing to brush up their knowledge and expose themselves to the latest advances in academic research. During the summer school, faculty are available for discussion of participants’ research ideas, as well as the lectures’ contents.
This Summer School program is jointly organized by the Barcelona GSE and the Center for Research in International Economics (CREI), a research institute sponsored by the Generalitat de Catalunya and Universitat Pompeu Fabra, in fulfilment of its aim to promote the dissemination of research in macroeconomics and related areas.
Course schedule for 2017
* This course is only available for students who enroll in the Numerical Methods for Fiscal and Monetary Policy Analysis course.
** This course is only available for students who enroll in the Recent Developments in Forecasting course.
The School is composed of eleven courses, which are distributed over two weeks. Courses can be taken individually or jointly. You may apply for one or more of the following courses. Click to view descriptions and instructor biographies:
Economic Growth and Inequality
This course is centered on the following questions: Why and how do countries grow? What are the distributional consequences of growth? Why are some countries so much richer than others? What explains the Chinese growth miracle? The final part will focus on policy implications, including the effects of competition and industrial policies on innovation, and how to make economic growth compatible with environmental conservation.
- The world income distribution, capital and Neoclassical growth
- The economics of ideas: innovation, creative destruction and firm dynamics
- Biased technological change, structural transformation and inequality
- Explaining cross-country income differences and the Chinese growth miracle
- Policy Lessons: Competition, Redistribution and Environmental Policy
About the Instructor
Gino Gancia earned his PhD in Economics at the Institute for International Economic Studies (Stockholm University) in 2003. Currently, he is a Senior Researcher at the Center for Research in International Economics (CREI), Affiliated Professor at the Barcelona Graduate School of Economics and a Research Fellow at the CEPR. He is Associate Editor of the Journal of the European Economic Association and the Review of Economic Dynamics. He has been a Visiting Scholar at MIT during 2001-2003 and has been awarded the 2009 Excellence Award in Global Economic Affairs (Kiel Institute for the World Economy) the 2004 EEA Young Economist Award and a European Research Council Starting Grant in 2009. His research interests span International Trade Theory, Economic Growth and Macroeconomics.
- "Offshoring and Directed Technical Change,” (with D. Acemoglu and F. Zilibotti), American Economic Journal: Macroeconomics, 7 (3), 84-112, 2015.
- “Competing Engines of Growth: Innovation and Standardization”, (with D. Acemoglu and F. Zilibotti), Journal of Economic Theory, 147, 570-601, 2012.
- “Trade, Markup Heterogeneity and Misallocations”, (with P. Epifani), Journal of International Economics, 83, 1-13, 2011.
- “Openness, Government Size and the Terms of Trade”, (with P. Epifani), Review of Economic Studies, 76, 629-668, 2009. “The Skill Bias of World Trade”, (with P. Epifani), Economic Journal, 118, 927-960, 2008.
- “Increasing Returns, Imperfect Competition and Factor Prices”, (with P. Epifani), Review of Economics and Statistics, 88, 583-598, 2006.
The Macroeconomics of Financial Globalization
This course reviews the evidence on financial globalization over the last few decades and argues that this evidence is at odds with some basic predictions of the standard neoclassical framework. It then constructs an alternative workhorse model to interpret the evidence, and uses this model to shed light on the origin of financial crises and the rationale for capital controls; the size and direction of capital flows in the recent past, and the current debate regarding the scarcity of assets in the world economy.
- Financial globalization: the facts
- Macroeconomic effects of financial globalization: conventional view and evidence
- Rethinking the convention: a workhorse model of capital flows and financial frictions
- Financial crises in the open economy: the case for capital controls
- Causes and consequences of global imbalances: the role of China
- Scarcity of assets in the world economy: diagnostics and implications for capital flows
About the instructor
Alberto Martin earned his PhD in Economics at Columbia University in 2005. Currently, he is a senior researcher at the Center for Research in International Economics (CREI), an adjunct professor at Universitat Pompeu Fabra, a research professor at the Barcelona GSE and a research fellow at the CEPR (London). He has been a research fellow and a senior economist the International Monetary Fund, a consultant for the United Nations Development Programme, and an economist in Argentina’s Ministry of Economics. He was awarded a Fulbright Fellowship (2000), a Lamfalussy Fellowship from the European Central Bank (2011), and a Consolidator Research Grant from the European Research Council (2014). He is member of the editorial board of the Review of Economic Studies and an associate editor of the Journal of International Economics. His work has appeared in the American Economic Review, the Journal of Finance, the Journal of the European Economic Association and the Journal of International Economics, among others. His research interests include macroeconomics, finance and international economics.
- “Managing Credit Bubbles”, (with J. Ventura), Journal of the European Economic Association, 14 (3), 2016, 753-789.
- Financial Reforms and Capital Flows: Insights from General Equilibrium (with J. Ventura). In R. Caballero, and K. Schmidt-Hebbel (eds.), Economic Policies in Emerging-Market Economies, Central Bank of Chile, 2015, 109-138
- “Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects”, (with A. Erce, A. Martin, and J. Ventura), Journal of Monetary Economics, 61, 114-142, 2014.
- “Sovereign Default, Domestic Banks. and Financial Institutions”, (with N. Gennaioli and S. Rossi), The Journal of Finance, 69(2), 819-866, 2014
- “International Capital Flows and Credit Market Imperfections: A Tale of Two Frictions”, (with F.Taddei), Journal of International Economics, 89(2), 441-452, 2013.
- “Economic Growth with Bubbles”, (with J. Ventura), American Economic Review, 102(6), 3033-3058, 2012.
- “Sovereign Risk and Secondary Markets,” (with J. Ventura and A. Martin), American Economic Review, 100(4), 1523-55, 2010
The Macroeconomics of Credit and Asset Bubbles
This course develops a macroeconomic framework to think about the origins and effects of credit and asset bubbles. This framework is then used to shed light on current policy debates such as the role of macroprudential policy, the effects of capital controls, and the connection between bubbles, monetary policy and liquidity traps.
- Review of the empirical evidence
- The theory of rational bubbles
- Credit and asset bubbles in business cycle models
- Policy design (I): the role of a lender of last resort
- Policy design (II): international policy coordination
About the Instructor
Jaume Ventura earned his PhD in Economics at Harvard University in 1995. Currently he is Senior Researcher at the Center for Research in International Economics (CREI), Research Professor at the Barcelona GSE and Professor at Universitat Pompeu Fabra (UPF). Previously, he has held academic positions at the MIT and the University of Chicago. He has served as a co-director of the International Macroeconomics Programme of the CEPR and also as an editor of the Economic Journal. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the European Economic Association. He has served as a consultant to the IMF, the World Bank and the Inter-American Development Bank. His research interests include international economics and macroeconomics.
- "Rethinking the Effects of Financial Globalization," (with F. Broner), Quarterly Journal of Economics, 131(3), 1497-542, 2016.
- "Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects" (with F. Broner, A. Erce and A. Martin), Journal of Monetary Economics, 114-142, 2014.
- “Economic Growth with Bubbles”, (with A. Martin), American Economic Review, 102(6), 3033-3058, 2012.
- “Bubbles and Capital Flows”, Journal of Economic Theory, 147(2), 738-758, 2012.
- “Theoretical Notes on Bubbles and the Current Crisis”, (with A. Martin), IMF Economic Review, 59(1), 6-40, 2011.
- “Globalization and Risk Sharing” (with F. Broner), The Review of Economic Studies, 78 (1), 49-82, 2011.
- “Sovereign Risk and Secondary Markets”, (with F. Broner and A. Martin), American Economic Review, 100(4), 1523-2555, 2010.
Government Inefficiency and Reform
The Great Recession has brought policy failures into the spotlight, especially within the European Union. Why do governments pursue inefficient policies? Why do they refrain from enacting desirable structural reforms? Why is macroeconomic stabilization delayed until acute crisis? This course seeks to answer these questions using the tools of political economics.
- Explaining regulation: market failure vs. rent-seeking
- Distributive conflict and inefficient policy bargains
- Political agency and imperfect government accountability
- The politics of structural reforms
About the Instructor
Giacomo Ponzetto is Senior Researcher at CREI, Adjunct Professor at UPF and Affiliated Professor at the Barcelona GSE. He received his PhD from Harvard University in 2009 and has been a Research Affiliate of CEPR since 2011. His research lies at the intersection of Political Economy and International and Regional Economics. He has written on political and legal institutions, on the political economy of trade policy, on federalism and political centralization, and on entrepreneurship and the spatial distribution of economic activity. His research has been published in the Quarterly Journal of Economics, Journal of Economic Growth, Journal of Public Economics, Journal of Urban Economics, and Journal of Law, Economics, and Organization.
- "Political Centralization and Government Accountability" (with F. Boffa and A. Piolatto), Quarterly Journal of Economics, 131 (1), 381-422, 2016.
- "Shrouded Costs of Government: The Political Economy of State and Local Public Pensions" (with E. L. Glaeser), Journal of Public Economics, 116, 89-105, August 2014.
- "Cities, Skills and Regional Change" (with E. L. Glaeser and K. Tobio), Regional Studies, 48 (1), 7-43, January 2014.
- "Stare Decisis: Rhetoric and Substance" (with P. A. Fernández), Journal of Law, Economics and Organization, 28 (2), 313-336, June 2012.
- "Clusters of Entrepreneurship" (with E. L. Glaeser and W. R. Kerr), Journal of Urban Economics, 67 (1), 150-168, January 2010.
Sovereign Debt Crises: Theory, Evidence and Policy
This course provides an overview of sovereign debt crises from theoretical, empirical and policy points of view. It covers both traditional and new theories that emphasize the interplay between international and domestic financial markets, and the relevant empirical evidence. It discusses the distinction between liquidity and solvency crises and the appropriate policy responses. The last part of the course is devoted to an analysis of the European crisis.
- What are the costs of sovereign default? Reputation and sanctions
- Market structure and defaults: secondary markets and collateral damage
- Rollover crises: Lender of last resort and moral hazard
- Solvency crises: Debt overhang, buybacks and restructuring
- Lessons for Europe
About the Instructor
Fernando Broner is Senior Researcher at CREI and Barcelona GSE Research Professor. He is one of the directors of the Master in International Trade, Finance and Development at the Barcelona GSE and teaches in the PhD program of UPF. He is a Research Fellow at the CEPR and a Co-Editor at the Journal of International Economics. He received his PhD in Economics at MIT in 2000.
He has been Visiting Professor at MIT, Assistant Professor at the University of Maryland, Advisor at the Bank of Spain’s Division of International Economics, and Visiting Scholar at the IMF and World Bank. He was awarded a European Research Council Starting Grant in 2010 for the project "International Capital Flows and Emerging Markets.” His research interests include International Economics, Finance, and Macroeconomics.
- “Rethinking the Effects of Financial Globalization,” (with J. Ventura), Quarterly Journal of Economics, 131(3), 1497-542, 2016
- “Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects,” (with A. Erce, A. Martin, and J. Ventura), Journal of Monetary Economics, 61, 114-42, 2014
- “Why do Emerging Economies Borrow Short Term?” (with G. Lorenzoni and S. Schmukler), Journal of the European Economic Association, 11(S1), 67-100, 2013
- “Globalization and Risk Sharing,” (with J. Ventura), Review of Economic Studies, 78(1), 49-82, 2011
- “Sovereign Risk and Secondary Markets,” (with J. Ventura and A. Martin), American Economic Review, 100(4), 1523-55, 2010
- “When in Peril Retrench: Testing the Portfolio Channel of Contagion,” (with G. Gelos and C. Reinhart), Journal of International Economics, 69(1), 203-30, 2006
An Introduction to the New Keynesian Framework and its Monetary Policy Applications
The course will provide an introduction to the New Keynesian model and its implications for monetary policy, with both a positive and a normative perspective.
- The basic New Keynesian model: Derivation and Properties
- Optimal monetary policy and simple policy rules
- Policy trade-offs: discretion vs. commitment
- Extensions and their policy implications
About the Instructor
Jordi Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Currently he is Director and Senior Researcher at the Center for Research in International Economics (CREI), Professor at Universitat Pompeu Fabra and Research Professor at the Barcelona GSE. He has held academic positions at New York University and Columbia University. He has been a Visiting Professor at MIT. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the Econometric Society. He has served as a co-editor of the Journal of the European Economic Association and co-director of the CEPR International Macroeconomics Programme. In 2012 he served as President of the European Economic Association. Among other awards, Galí has received the National Research Prize from the Government of Catalonia and was co-recipient of the Yrjö Jahnsson Award. He is a regular consultant to the ECB, the Sveriges Riksbank and the Norges Bank. His research interests include Macroeconomics and Monetary Theory, and has published articles on these topics in numerous scientific journals.
- Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Second edition, Princeton University Press, (Princeton, NJ), 2015.
- “Understanding the Gains from Wage Flexibility: The Exchange Rate Connection,” (with T. Monacelli), American Economic Review 106(12), 3829-3868, 2016.
- “Monetary Policy and Rational Asset Price Bubbles,” American Economic Review, 104(3), 721-752, 2014
- “Labor Market Frictions and Monetary Policy: A New Keynesian Model with Unemployment,” (with O. Blanchard), American Economic Journal: Macroeconomics, 2010, 2(2), 1-30.
- “Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?,” American Economic Review, March 1999.
- “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”, (with R. Clarida and M. Gertler), Quarterly Journal of Economics, January 2000.
- “The Science of Monetary Policy: A New Keynesian Perspective,” Journal of Economic Literature, December 1999.
Finance, Firm Dynamics and the Business Cycle: Theory and Evidence
Do financing constraints affect firm entry, exit, and the misallocation of resources? Do they matter for innovation, and aggregate productivity and output? This course answers these questions by developing a theoretical framework and empirical applications that integrate analytical tools from finance and macroeconomics.
- Finance and firm dynamics: the facts
- Entry, exit, misallocation, and innovation: from firm-level financial frictions to aggregate productivity.
- Finance, firm dynamics, and business cycles: theory and applications:
- The 2007-2009 financial crisis.
- The secular stagnation hypothesis.
About the Instructor
Andrea Caggese earned his PhD in Economics at London School of Economics and Political Science in 2002. Currently he is an Associate Professor at Universitat Pompeu Fabra (UPF), an Affiliated Professor at Barcelona GSE, and a Research Associate at the Center for Research in International Economics (CREI). He is also the Director of the Master of Research in Economics, Finance and Management at the Department of Economics and Business at Universitat Pompeu Fabra (UPF). His work has appeared in the Journal of Financial Economics, the Journal of Monetary Economics, the Economic Journal and the Review of Economic Dynamics. His research interests include finance, investment theory and macroeconomics.
- “Financing Constraints, Firm Dynamics, Export Decisions, and Aggregate Productivity”, (with V. Cuñat) Review of Economic Dynamics, 16(1), 177-193, 2013.
- “Entrepreneurial Risk, Investment and Innovation”, Journal of Financial Economics, 106(2), 287-307, 2012.
- “Financing Constraints and Fixed Term Employment Contracts”, (with V. Cuñat), Economic Journal, 118 (533), 2013-2046, 2008.
- “Testing Financing Constraints on Firm Investment Using Variable Capital”, Journal of Financial Economics, 86, 683-723, 2007.
- “Financing Constraints, Irreversibility and Investment Dynamics”, Journal of Monetary Economics, 54, 2102-2130, 2007.
Firms, Networks, and Macroeconomic Fluctuations
This course first introduces students to recent models that study how shocks at the firm or sector level propagate through the economy and impact macroeconomic volatility. Empirical evidence is then presented, and techniques that employ large micro-datasets to study aggregate fluctuations are introduced. Finally, linkages in the open economy and the transmission of shocks across borders are studied.
- Firm/sector linkages and the transmission of shocks
- Empirical approaches for mapping micro shocks to macro fluctuations
- The globalization of production and cross-country interdependence
- Large firms and macroeconomic outcomes
About the Instructor
Julian di Giovanni earned his PhD in Economics at the University of California, Berkeley in 2004. Currently he is a ICREA Research Professor at Universitat Pompeu Fabra (UPF), the Deputy Director for Research and a Research Professor at the Barcelona GSE, a Research Associate at the Center for Research in International Economics (CREI), and a Research Fellow of the CEPR. He worked for the Research Department of the International Monetary Fund from 2004-2013. He has been a Visiting Assistant Professor at the University of Toronto, and a Visiting Scholar at the Banque de France, Central Bank of the Republic of Turkey, and the IMF. He was awarded an International Incoming Fellowship from the European Research Council Marie Curie Actions (2014), and a European Research Council Consolidator Grant (2016). His work has appeared in the American Economic Review, Econometrica, the Journal of Political Economy, the Journal of the European Economic Association, American Journal of Economics: Macroeconomics, and the Journal of International Economics, among others. His research interests include International Economics and Macroeconomics.
- “Firms, Destinations, and Aggregate Fluctuations,” (with A. Levchenko and I. Méjean), Econometrica, 82(4), 1303-1340, 2014.
- “Firm Entry, Trade, and Welfare in Zipf’s World,” (with A. Levchenko), Journal of International Economics, 89(2), 283-296, 2013.
- “Country Size, International Trade and Aggregate Fluctuations in Granular Economies,” (with A. Levchenko), Journal of Political Economy, 120(6), 1083-1132, 2012.
- “Power Laws in Firm Size and Openness to Trade: Measurement and Implications,” (with A. Levchenko and R. Rancière), Journal of International Economics, 85(1), 42-52, 2011.
- “Putting the Parts Together: Trade, Vertical Linkages, and Business Cycle Comovement,” (with A. Levchenko), American Economic Journal: Macroeconomics, 2(2), 95-124, 2010.
- “Trade Openness and Volatility,” (with A. Levchenko), Review of Economics and Statistics, 91(3), 558-585, 2009.
Numerical Methods for Fiscal and Monetary Policy Analysis
This course will cover state-of-the-art techniques to solve and simulate modern macroeconomic models, with specific applications to models used for fiscal and monetary policy analysis. The applications will be illustrated in details during practice sessions (offered separately, and available only for students registered in the class).
- Introduction to local and global solution methods
- Solution methods for modern monetary policy models, with zero-lower bound, financial constraints, heterogeneous agents, bubbles, etc.
- Methods for optimal monetary policy problems, with and without commitment.
- Methods for optimal debt policy and sovereign default models.
About the Instructor
Davide Debortoli earned his PhD in Economics at the Universitat Pompeu Fabra (UPF) in 2008. Currently he is Associate Professor at UPF, Research Associate at CREI and Affiliated Professor at the Barcelona GSE. He has held an academic position at the University of California San Diego, and a visiting position at the Norges Bank. He was recently awarded a Marie Curie International Incoming Fellowship from the European Commission, and he is a member of the editorial board of the B.E. Journal of Macroeconomics. His research interests include Macroeconomics, Fiscal Policy and Monetary Policy, and his works has been published in the Quarterly Journal of Economics, the Journal of Economic Theory, the Journal of the European Economic Association, and the American Economic Journal: Macroeconomics.
- Optimal Time-Consistent Government Debt Maturity, (with R. Nunes and P. Yared), Quarterly Journal of Economics, forthcoming.
- How Credible is the Federal Reserve: A Structural Estimation of Policy Re-optimizations, (with A. Lakdawala), American Economic Journal: Macroeconomics, 8 (3), 2016, 42-76.
- Monetary Regime-Switches and Central Bank Preferences, (with R. Nunes), Journal of Money, Credit and Banking, 46 (8), 2014, 1591-1626.
- Loose Commitment in Medium-Scale Macroeconomic models: Theory and Applications, (with J. Maih and R. Nunes), Macroeconomic Dynamics, 18(1), 2014, 175-198.
- Lack of Commitment and the Level of Debt, (with R. Nunes), Journal of the European Economic Association, 11(5), 2013, 1053-1078.
- Fiscal Policy under Loose Commitment, (with R. Nunes), Journal of Economic Theory, 145 (3), 2010, 1005-1032.
Financial Intermediation, Macroeconomics and Public Policy
This course will present and discuss (mainly empirical) research on the interaction between macroeconomics and financial intermediation, banks and nonbanks. Special attention will be given to the research methodologies (mainly micro-econometrics, shocks and micro datasets), to the international channels, and to the public policy implications, mainly macroprudential and monetary policy.
- Financial crises and systemic risk
- Real effects of credit for firms and households
- Risk-taking, credit and international channels of monetary policy
- Financial globalisation, emerging markets and capital controls
- Macroprudential policy
- Securities trading by banks and nonbanks, Volcker rule, public debt
About the Instructor
José-Luis Peydró earned his PhD in Finance at INSEAD in 2005 and a Master in Economics from CEMFI. He won the National Award of Bachelor Studies in Economics (Premio Nacional) given by the Government of Spain for the highest GPA in Spain in Economics, 1997. He is an ICREA Professor of Economics at Universitat Pompeu Fabra (UPF), Barcelona GSE Research Professor, Research Associate at the Center for Research in International Economics (CREI), Research Fellow at the CEPR and at IESE, an Associate Editor for the Review of Finance, the journal of the European Finance Association, and was awarded a Consolidator Research Grant from the European Research Council (2015). He has been consultant for several central banks and international organizations (including the ECB, IMF and Fed), serves as an advisor to the Financial Stability department of the Bank of Spain, is a Deutsche Bundesbank Research Professor, serves at the Advisory Scientific Committee of the European Systemic Risk Board, and has held visiting appointments at MIT Sloan and Chicago. His research interests are at the intersection of Finance and Macroeconomics, including systemic risk and central bank policies. He has recently published a book on Systemic Risk, Crises and Macroprudential Policy (MIT Press, 2015).
- "Hazardous Times for Monetary Policy: What do 23 Million Loans Say about the Impact of Monetary Policy on Credit Risk-Taking?" (with G. Jiménez, S. Ongena and J. Saurina), forthcoming in Econometrica.
- "The Interbank Liquidity Crunch and the Firm Credit Crunch: Evidence from the 2007-09 Crisis" (with R. Iyer, S. Lopes and A. Schoar) Review of Financial Studies, 27(1), 347-372, 2014.
- "Financial Regulation, Globalization and Synchronization of Economic Activity" (with S. Kalemli-Ozcan and E. Papaioannou) Journal of Finance, 68(3), 1179-1228, 2013.
- "Credit Supply and Monetary Policy: Identifying the Bank Balance-Sheet Channel with Loan Applications" (with G. Jiménez, S. Ongena and J. Saurina) American Economic Review, 102(5), 2301-2326, 2012.
- "Bank Risk-Taking, Securitization, Supervision, and Low Interest Rates: Evidence from the Euro-area and the U.S. Lending Standards" (with A. Maddaloni) Review of Financial Studies, 24(6), 2011, 2121-2165.
- "Interbank Contagion at Work: Evidence from a Natural Experiment" (with R. Iyer), Review of Financial Studies, 24(4), 1337-1377, 2011.
Recent Developments in Forecasting
This course provides an up-to-date and thorough overview of forecast estimation and evaluation.
- Recent developments in forecasting methodologies (e.g. forecasting with many predictors)
- New methods for evaluating models' forecasts
- Application 1: How well can we forecast inflation and output growth?
- Application 2: Do reduced-form models forecast better than DSGE models?
About the Instructor
Barbara Rossi earned her PhD in Economics at Princeton University in 2001. Currently she is an ICREA Research Professor at Universitat Pompeu Fabra (UPF), Affiliated Professor at the Barcelona GSE, and Research Associate at the Center for Research in International Economics (CREI). She has held an academic tenured position at Duke University and visiting positions at University of California-Berkeley, UCSD and the Philadelphia Fed, among others. She is a Research Fellow at the CEPR and a member of the CEPR Business Cycle Committee. She is currently an Associate Editor for the Journal of Business and Economic Statistics, the Journal of Economic Dynamics and Control, and the Journal of Applied Econometrics. She has been awarded two National Science Foundation grants.
- “Advances in Forecasting under Model Instability”, in G. Elliott and A. Timmermann (eds.), Handbook of Forecasting, Volume 2, Amsterdam: Elsevier, forthcoming.
- “Forecasting in Macroeconomics”, (with R. Giacomini), in N. Hashimzade and M. Thornton (eds.), Handbook of Research Methods and Applications in Empirical Macroeconomics, Cheltenham (UK): Edward Elgar Publishing Ltd, forthcoming.
- “Exchange Rate Predictability” Journal of Economic Literature 51(4), December 2013.
- “Can Exchange Rates Forecast Commodity Prices?” (with Y. Chen and K. Rogoff), Quarterly Journal of Economics, 125(3), 1145-1194, 2010.
- “Out-of-Sample Forecast Tests Robust to Choice of Window Size”, (with A. Inoue), Journal of Business and Economics Statistics, 30(3), 432-453, 2012.
- “Detecting and Predicting Forecast Breakdowns”, (with R. Giacomini), Review of Economic Studies, 76(2), 669-705, 2009.
Numerical Methods: Computer Lab Practicals
This 5 hour practical course is available only for students registered for the course Numercial Methods for Fiscal and Monetary Policy Analysis. Through specific examples of state-of-the-art monetary and fiscal policy models (e.g. models with zero-lower bound constraint, financial frictions, forward-guidance, etc.) the computer lab practicals will give participants the opportunity to familiarize with the different routines described in class, and will demonstrate their advantages and disadvantages in terms of accuracy and efficiency.
Forecasting: Computer Lab Practicals
This 5 hour practical course is available only for students registered for the course Recent Developments in Forecasting.
- Strong background in economics or related fields
- Working knowledge of English
There is limited space in the Barcelona GSE Summer School Courses. Among the candidates who meet the eligibility criteria, the Barcelona GSE will select those with more outstanding professional and/or academic careers.
Interested candidates should apply before May 30. After this deadline, your place may not be guaranteed. Capacity of the courses is limited. Some courses may close before May 30 depending on demand.
Applications will be evaluated by the program directors and candidates will be informed of their decision. A document will be attached to our response with payment information. Before applying, please read through the summer school cancellation policy and other regulations.
A wide range of short-term accommodation is available near campus for Barcelona GSE Summer School participants. Students and participants can take advantage of discounted offers by booking accommodation with one of our housing partners. These partners will be able to provide various affordable accommodation options tailored to suit different needs, includin: flats, hostels, hotels, shared apartments and student halls.
For more information, see the "Discounts" section of our accommodation page.
At the conclusion of the Summer Schools, participants will receive a certificate for the number of hours attended. All Barcelona GSE courses require an average of twice the lecture hours for readings, pre-readings and class preparation. Interested students should check with their universities to see if these hours are transferable into ECTS credits.
Fees and discounts
Fees listed are for the 2017 edition.
|Price for each 10h course|
|Price for each 5h computer lab practical|
Multiple course discounts do not apply to 5h lab practical courses.
* Reduced fee applies to PhD/Masters students, including current Barcelona GSE students.
|Early bird (book and pay before 1 April 2017)||10%|
|3 or more courses**||25%|
|Barcelona GSE alumni||10%|
|Barcelona GSE partner organizations||10%|
** Multiple course fee discounts will only be applied to named individuals booking and paying for more than one course for their own use.
Notes about Summer School fees:
- Fees vary by program: please check summer school program pages for individual course fees.
- All discounts are accumulative, e.g. alumni booking two or more courses will receive a further 10% discount off the total after the multiple course discount has been applied.
- Fees include any materials required for the course as indicated, coffee breaks every day of the week, networking dinner on Tuesday, and farewell dinner on Thursday.