Upon completion of this course, participants should be able to:
Explain the key building blocks of a canonical semi-structural QPM.
Interpret the key model equations from a macroeconomic point of view.
Implement a simple QPM using a specialized software for macroeconomic modelling.
Distinguish the key elements of a QPM in a state-space form (i.e. shocks, observable and unobservable variables, measurement and transition equations, steady-state parameters, equation coefficients).
Identify necessary codes for data transformation, filtration and evaluation of the QPM properties.
Apply the basic IRIS Toolbox functions for solving the model.
