Central Bank of Malta hosts 17th Dynare Conference

The 17th Dynare conference organised by the Economic Research Department of the Central Bank of Malta, together with DSGE-net, and the Dynare project at CEPREMAP was held at the Bank’s Binja Laparelli between the 19th to 20th October 2023.

The conference comprised of 60 presentations and was attended by international participants from central banks and academic institutions. The topics of the studies presented focused on the modeling of climate change, energy policy and commodity prices, Central Bank Digital Currency, Monetary Policy and small open economies within a monetary union.

The keynote speakers were Professor John Hassler from the Institute for International Economic Studies, Stockholm University on the theme “A Macroeconomist’s Thoughts on Climate Change and Climate Policy” and Professor Frank Smets from the European Central Bank and Ghent University who spoke about “The optimal quantity of CBDC in a bank-based economy”.

The conference was also addressed by the Governor of the Central Bank of Malta, Professor Edward Scicluna, and the Bank’s Chief Economist, Dr Aaron G. Grech.

Dynare is a software platform for handling a wide class of economic models, in particular dynamic stochastic general equilibrium (DSGE) models.

It allows to perform stochastic and perfect foresight simulations, and to estimate parameters with Maximum Likelihood, Bayesian methods and Methods of moments in a user-friendly way.

Various public bodies (central banks, ministries of economy and finance, international organisations) and some private financial institutions use Dynare for performing policy analysis exercises and as a support tool for forecasting exercises.

In the academic world, Dynare is used for research and teaching purposes in postgraduate macroeconomics courses.