The Summer School will take place over five consecutive days, from June 8 to 12, 2026, at the Faculty of Law, Economics, and Management (Carnot campus, Nancy).
Each day will combine theoretical instruction in the morning and a practical computer workshop in the afternoon, ensuring a balanced progression between conceptual understanding and technical implementation.
| Monday 08/06/2026 | Tuesday 09/06/2026 | Wednesday 10/06/2026 | Thursday 11/06/2026 | Friday 12/06/2026 | |
| Morning | Introduction to the Real-Business-Cycle (RBC) model | The New Keynesian (NK) model: nominal and real rigidities, price and wage setting | Optimal monetary policy and the new mandates of central banks | Bayesian estimation: Principles, identification and data preparation | Research seminars |
| Afternoon | Practical Workshop on the RBC model | Practical Workshop on the NK model | Practical Workshop on the monetary policy in DSGE models | Practical Workshop on the estimation of NK models using Bayesian estimation | Roundtable |
The week’s program is designed to help participants develop their skills progressively, starting with the basic RBC model and moving on to New Keynesian extensions and advanced estimation approaches. This structure aims to combine theoretical learning, quantitative practice, and applied research, while promoting scientific cooperation between students, young researchers, and faculty members.
Monday, June 8, 2026
Instructors: O. Piétri and T. Betti
Morning theoretical session
This session introduces the core concepts of the Real Business Cycle (RBC) model. Participants will explore the microeconomic foundations, including household preferences, firm behavior, and market clearing conditions. The course covers intertemporal optimization and the role of technology shocks in driving economic fluctuations, providing a solid theoretical base for subsequent hands-on modeling exercises.
Afternoon practical session
In this hands-on session, participants will implement the RBC model using Dynare. They will learn how to log-linearize the model, calibrate parameters to match macroeconomic data, and simulate the system to study responses to technology shocks. The session emphasizes the practical interpretation of impulse response functions (IRFs) and equips participants with the skills to analyze model dynamics.
Tuesday, June 9, 2026
Instructors: B. Annicchiarico and H. C. Dalgic
Morning theoretical session
Participants will implement the New Keynesian model in Dynare, calibrating it to data and simulating the effects of technology shocks. The workshop focuses on generating and interpreting impulse response functions (IRFs) to understand how nominal and real rigidities influence economic dynamics under different scenarios.
Afternoon practical session
This lecture introduces the New Keynesian framework, highlighting nominal and real rigidities, price and wage-setting mechanisms, and their impact on macroeconomic fluctuations. Participants will examine the theoretical underpinnings of sticky prices and wages, exploring how these frictions modify the transmission of shocks and monetary policy effectiveness
Wednesday, June 10, 2026
Instructor: V. Acurio Vásconez
Morning theoretical session
This session explores the design of optimal monetary policy, considering the latest mandates of central banks. Participants will learn the principles of policy evaluation, the trade-offs central banks face, and the theoretical frameworks used to determine optimal rules under different macroeconomic conditions.
Afternoon practical session
Participants will apply monetary policy rules within DSGE models using Dynare. The session covers both Ramsey and Taylor rules, guiding participants through model implementation, simulation, and the analysis of impulse response functions following a monetary shock. This practical exercise reinforces the understanding of policy impacts on macroeconomic variables.
Thursday, June 11, 2026
Instructors: G. Vermandel and A. Eyquem
Morning theoretical session
This lecture introduces the Bayesian approach to estimating DSGE models. Participants will learn the theoretical foundations, including prior distributions, likelihood functions, and identification issues. The session also covers practical steps for preparing macroeconomic data for estimation, ensuring that students understand both methodology and implementation challenges.
Afternoon practical session
Participants will estimate a New Keynesian DSGE model using Bayesian techniques in Dynare. The workshop demonstrates how to combine priors with data, run estimations, and interpret posterior distributions. Emphasis is placed on understanding the role of Bayesian inference in macroeconomic modeling and policy analysis.
Friday, June 12, 2026
Morning research seminars
This session features applied research presentations using DSGE models. Leading researchers present their latest studies, illustrating how DSGE modeling can be used to analyze macroeconomic policy, evaluate shocks, and interpret empirical data. Participants will gain insight into practical applications of the models covered during the summer school and see how theoretical concepts are applied in real-world economic research. The seminars also provide opportunities for discussion, questions, and engagement with ongoing research topics.
Faculty of the research seminars: F. Diluiso, G. Vermandel and A. Eyquem
Afternoon roundtable
This session is a round table discussion on the latest developments and current perspectives in DSGE modeling. Leading experts share insights on emerging methods, policy applications, and future directions of macroeconomic modeling. Participants are encouraged to engage in the discussion, ask questions, and exchange ideas with the panelists. The session concludes with the presentation of certificates to all participants, recognizing their successful completion of the summer school.
Speakers: G. Vermandel, J-G. Sahuc, F. Diluiso
Moderator: V. Acurio Vásconez