Exchange Rate Policy (ERP)
This course, presented by the Institute for Capacity Development, gives a comprehensive overview of exchange rate analysis and policy. Topics covered include:
- Key exchange rate concepts (real, nominal, bilateral, multilateral, spot, forward) and arbitrage conditions (UIP, law of one price, PPP, relative PPP); its role in achieving internal and external balance (adjustment to overall equilibrium under floating and fixed exchange rate regimes); its role in economic growth (undervaluation, Washington Consensus, the Balassa-Samuelson effect).
- Exchange rate policy and regimes (taxonomy, impossible trinity) and associated policy mix (monetary policy independence, financial stability, fiscal policy, capital controls).
- Practical Problems of Exchange Rate Policy in Developing and Emerging ...
Target Audience
Junior to mid-level officials who work with exchange rate policy and analysis.
Qualifications
Participants are expected to have an advanced degree in economics or equivalent professional experience and be comfortable with Microsoft Excel and Excel-based applications. Participants are expected to also have a working knowledge of EViews.
Course Objectives
Upon completion of this course, participants should be able to:
- Assess reserve adequacy with traditional and the IMF ARA metric.
- Assess external balance position with EBA and EBA-lite methodologies.
- Construct systems for early warning of currency crises using data on nominal exchange rates and international reserves.
- Describe the exchange rate regime choice and how country-specific features could influence the choice.
Syllabus: {9499CFFE-459C-4258-BB24-F1A572819BB1}
Upcoming Offering
Start date | End date | Location | Delivery Method | Session No. | Primary & (Interpretation) language | Apply |
---|---|---|---|---|---|---|
May 26, 2025 | June 6, 2025 | Vienna, Austria | In-person Training | JV 25.14 | English (Russian) | Apply online by February 16, 2025 |
Inclusive Growth (IG)
English (Arabic) | April 14-25, 2025 | In-person Training | Abu Dhabi, United Arab Emirates
Apply online by February 3, 2025
Cyber Risk Regulation and Supervision (CRS)
English | May 5-9, 2025 | In-person Training | Singapore, Singapore
Apply online by February 7, 2025
Macroeconomics of Climate Change (MCC)
English | June 16-27, 2025 | In-person Training | Singapore, Singapore
Apply online by February 7, 2025
Model-Based Monetary Policy Analysis and Forecasting (MPAF)
English | March 3-13, 2025 | In-person Training | New Delhi, India
Apply online by February 7, 2025
Emergency Liquidity Assistance
English | March 24-28, 2025 | In-person Training | New Delhi, India
Apply online by February 7, 2025