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4. - 5. Juli 2023

Graduate Center Masterclasses

Econometrics of Energy Markets


4. - 5. Juli 2023


Elinor Ostrom Hall
DIW Berlin
Mohrenstr. 58
10117 Berlin


Christiane Baumeister

We are soliciting the first ARGE MASTERCLASS for doctoral Students and Postdoctorates of members of the ARGE (Arbeitsgemeinschaft deutscher wirtschaftswissenschaftlicher Forschungsinstitute).

The Masterclass consists of a combination of lecture and four presentations. The Masterclass is given by Christiane Baumeister (University of Notre Dame; NBER; CEPR). Structural vector autoregressions are the workhorse models in empirical macroeconomics. The goal of this course is to equip participants with state-of-the art Bayesian methods for empirical research and policy analysis. The first part of the course challenges the current practice of identifcation of VAR models by introducing a more general Bayesian framework that encompasses standard identifcation approaches as special cases. Drawing structural inference from VAR models requires making use of prior information.

This course provides formal tools of Bayesian analysis that allow to incorporate prior beliefs about both the structural coefficients and the impacts of shocks in a flexible way and to characterize the contribution of prior information. The second part of the course applies this framework to modeling the global oil market to study the determinants of oil price fluctuations and the macroeconomic consequences of oil price shocks.

Please send CV and in case of applying for a place in the student presentations, a paper/ extended abstract by March 15, 2023 to arge@diw.de.
Decisions will be sent by March 31, 2023.


July 4:
Morning 2x90 minutes Lecture with Christiane Baumeister
Afternoon 2x90 minutes Lecture with Christiane Baumeister
Dinner/ Get together

July 5:
Morning 2x90 minutes Lecture with Christiane Baumeister

Afternoon: Slots for presentation and discussion

Jonathan Berrisch, University of Duisburg Essen
“Modeling volatility and dependence of European carbon and energy prices”

Adelina Garamow, DIW Berlin
“Global Commodity Markets and Sovereign Risk across 150 Years”

Ider Gökhan/Frederik Paul Kurcz/ Ben Schumann, DIW Berlin
"The Energy-Price Channel of (European) Monetary Policy"

3.30pm End

To register for the masterclass please contact Christiane Zschech (arge@diw.de)