How is the inflation targeted in EU and in Belarus? What are the modern tools for estimation and forecasting the inflation? How does the new macroeconomic model for Belarus estimate the inflation? Przemysław Woźniak (CASE Research Fellow), Igor Pelipas (Executive Director of the IPM Research Center), Dzmitry Kruk (IPM Research Centres expert) tackled these problems at a Policy Research Seminar conducted jointly by CASE Belarus and IPM Research Centre, Oct 25-29, 2010, Minsk, Belarus.
The Policy Research Seminar was conducted within the project titled „The analytical and technical support of monetary policy aimed at assuring macroeconomic stabilization as an essential condition to carry out market reforms in Belarus”. The main aim of the seminar was the coordination of actions of the National Bank of Belarus and other public institutions (mainly the Ministry of Finance and the Ministry of Economy) under the targeting of inflation as one of the basic factors to maintain the macroeconomic stability in Belarus.
The program of the seminar:
Day 1: The inflation theory, its estimation and forecast. Different approach to assess and model the inflation in Poland, other EU states and Belarus (Przemysław Woźniak).
Day 2: The role of monetary policy in the process of macroeconomic stability: inflation targeting, experience of different countries (Przemysław Woźniak).
Days 3-4: The modern approaches for quantitative analysis of macroeconomic data: econometric methods and econometric programs (Igor Pelipas).
Day 5: The macroeconomic models for Belarus: approaches of the National Bank of Belarus and the IPM Research Centre (Dzmitry Kruk).