30. Juni - 2. Juli 2025
Seminar
Local Projections for Applied Economics – Òscar Jordà (San Francisco Fed & UC Davis)
Advanced Studies Program
Termin
30. Juni - 2. Juli 2025Ort
Elinor Ostrom HallDIW BerlinMohrenstr. 5810117 BerlinSprecher*innen
Òscar JordàA course by the Kiel Institute for the World Economy (IfW Kiel)
In cooperation with DIW Berlin
Researchers are often interested in calculating how variables respond over time to a given stimulus, such as a policy intervention. This is often referred to as an impulse response. The method of local projections offers a convenient approach to investigate such impulse response dynamics.
Course description
This course:
- explores the basics of the local projections method (including identification, estimation, multipliers, and inference).
- presents several extensions (such as smoothing, stratification, and nonlinearities) and discusses different approaches to evaluate policy responses (such as matching estimators and optimal policy perturbations)
- discuss extensions to panel data and difference-in-differences estimation.
Because the method of local projections is very straightforward in easy to scale, the ultimate goal is to equip practitioners with appropriate methods for their research problems and inspire new research avenues. The course outline is available here
Objectives keyboard_arrow_up
At the end of this course, participants will:
- Understand the foundations of local projections and their connection to vector autoregressions (VARs)
- Know how to do basic estimation, including proper identification and statistical inference.
- Be able to apply local projections in analysis of time series and panel data.
Methods keyboard_arrow_up
The course will combine classroom lectures, which will include the presentation of the main concepts as well as live demonstrations of statistical code in using STATA. The slides and additional learning materials will be provided to participants to help them apply their new knowledge and skills in practice. A temporary Stata software license can be provided on demand.
Timetable keyboard_arrow_up
Monday June 30th, 9:00am-12:30pm
Tuesday July, 1st, 2:00pm-5:30pm
Wednesday July 2nd, 9:30am-1:00pm
Registration keyboard_arrow_up
Please register at IfW Kiel
Partner
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