Numerical Methods in Macroeconomics

October 22-23, 2024

Goethe University Frankfurt
Campus Westend
Casino 1.801 / 1.802

This two half-day workshop brought together researchers involved in the development and application of numerical methods in macroeconomics. This workshop is supported by the DFG through grant nr. 465469938 “Numerical diagnostics and improvements for the solution of linear dynamic macroeconomic models” and the Deutsche Bundesbank and was hosted by the Institute for Monetary and Financial Stability (IMFS) and Goethe University Frankfurt.

In a continuously changing world with global financial, epidemiological and climate crises, researchers are developing new models to capture macroeconomic relationships and interactions with individual and distributional behaviors and assessing existing models’ ability to shed light on these challenges. In a complex world, these models and their methods are almost invariably numerical. New models and new perspectives frequently call for new methods, improved methods or reflection on existing methods limits and capabilities, for both analysis and empirical verification. This workshop brought together researchers with insights in these developments with a keynote contribution from Prof. Harald Uhlig, Ph.D., University of Chicago.

Topics included solution methods, estimation methods, and machine learning applications for DSGE and other structural macroeconomic/-metric models, from linear representative agent to nonlinear and heterogeneous agent models, frequentist and Bayesian.