CBA holds training course on economic forecasts
Azerbaijan, Baku, Sept. 15 / Trend N.Ismayilova /
The Central Bank of Azerbaijan (CBA) continues to build domestic research capacity in an effort to improve the effectiveness of monetary policy. This week, the CBA Development and Research Center held a training course on the stochastic general equilibrium model.
The model allows for the comprehensive modeling and forecasting of economic processes. The three-day training began on Sept. 13 and covered preparing an analytical framework for a dynamic stochastic general equilibrium model and making evaluations while using econometric methods. The stochastic equilibrium model is used by the world's leading banks to study economic cycles and prepare real-world business cyclical patterns.
The training will help to improve the capacity of economic forecasting in the country. The training was held in English by Economy Consultant to the Polish National Bank Masin Kalas and economics expert Andres Kochiedzhki.
The training was attended by representatives of the Economic Development Ministry, State Oil Fund, Azerbaijani Banks Association and other organizations.
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