Mátyás Farkas

Mátyás Farkas

Financial Sector Expert

International Monetary Fund

Welcome!

I am a Financial Sector Expert in the IMF’s Monetary Policy Modeling Unit in MCM. I work on model-based analysis of monetary and macroprudential policy.

Previously I worked as an Economist in the Monetary Policy Strategy Division, Strategy Issues section of the European Central Bank. My research focuses on expectation formation, monetary policy and DSGE estimation.

I was part of the development team for Macroecomomic Model Data Base, a Dynare based macroeconomic model comparison platform.

Disclaimer: The views expressed on this website are my own and do not reflect those of the European Central Bank.

Interests
  • Macroeconometrics
  • Monetary Policy
  • Adaptive Expectations
  • Computational Methods
Education
  • PhD in Finance, 2020

    Goethe University Frankfurt

  • MSc in Money and Finance, 2013

    Goethe University Frankfurt

  • BSc in Finance and Accounting, 2011

    Corvinus University of Budapest

  • BSc in International Relations, 2010

    Corvinus University of Budapest

Experience

 
 
 
 
 
International Monetary Fund
Financial Sector Expert
Feb 2024 – Present Washington, D.C.

MCM Monetary Policy Modelling Unit:

  • Model based analysis of monetary and macroprudential policy,
  • Contribution to the development of the IMF’s Integrated Policy Framework.
 
 
 
 
 
European Central Bank
Economist
Sep 2018 – Feb 2024 Frankfurt am Main

DG-MP, Monetary Policy Strategy Division:

  • Developing and operationalizing favorable financing conditions indicators,
  • SMA coordination,
  • Risk of inflation expectation de-anchoring modelling,
  • DSGE modelling, monetary policy book preparation.
  • Economist in DG-E, Forecasting and Policy Modelling Division: Development of the adaptive learning version of the NAWMII, climate change modelling with adaptive expectations.
  • Graduate Programme Participant: DG-R, Monetary Policy Research Division: DSGE based theoretical contribution to the discussion paper: On the Effectiveness of Macroprudential Policy; DG-MIP, Market Infrastructure Management Division: Target Analytical Team
 
 
 
 
 
Goethe University Frankfurt, IMFS
Research Assistant at the Institute for Monetary and Financial Stability
Jan 2016 – Aug 2018 Frankfurt am Main

Developer of the Macroeconomic Model Data Base:

  • Lead developer of the MMB, platform development, forecast performance comparison.
  • Research on monetary policy transmission in heterogeneous expectations based DSGE.
 
 
 
 
 
European Central Bank
Consultant
Sep 2017 – Dec 2018 Frankfurt am Main

Consultant in DG-MP, Monetary Policy Strategy Division:

  • Operationalization of policy tool to assess the balance of risks around ECB projections.
  • Exploration of methodologies to identify and quantify skewness.
 
 
 
 
 
European Central Bank
PhD Trainee
Sep 2016 – Mar 2017 Frankfurt am Main

Consultant in DG-MP, Monetary Policy Strategy Division:

  • Development of policy tool to assess the balance of risks around ECB projections.
  • Forecast based model selection.
 
 
 
 
 
European Central Bank
Masters Trainee
Nov 2012 – Jun 2013 Frankfurt am Main

DG-I, External Developments Division:

  • Data and computational support to colleagues;
  • forecast evaluation of the ESCB’s forecasts;
  • maintenance of routines and codes,
  • development of emerging markets database.
 
 
 
 
 
European Parliament
Trainee
Sep 2011 – Nov 2011 Bruxelles

Trainee at the office of Dr. Alajos Mészáros (MEP):

  • Reporting on Committee sessions, meetings,
  • research on background material for the topics: Six pack of the EU, energy efficiency directive, legal regulation of property rights.
  • Speech-writing.
 
 
 
 
 
Corvinus University Budapest
Tutor
Feb 2008 – Jul 2011 Budapest

Tutor: at the Department of Informatics, Department of Mathematics, Department of Macroeconomics and Department of Investments and Corporate Finance, Courses taught:

  • Foundations of Informatics (MS Office, Databases),
  • Foundations of Mathematics I. and II. (Calculus, Probability theory);
  • Macroeconomics;
  • Advanced Corporate Finance II.

Research

(2022). Endogenous Belief Switching. Working paper - Updated Draft.

PDF Slides

(2022). Forecasting the Great Recession in the United States:First Results from a Model Comparison Exercise. Preliminary - Do not cite.

(2021). Climate change and monetary policy in the euro area. ECB Occasional Paper Series No 271.

PDF

(2021). On the effectiveness of macroprudential policy. ECB Working Paper No 2559.

PDF

(2020). Bayesian Estimation of DSGE Models with Hamiltonian Monte Carlo. IMFS WORKING PAPER SERIES NO. 144, R&R in Journal of Applied Econometrics.

PDF

(2020). Quantitative Easing and Risk Taking at the Zero Lower Bound. Working paper - Final draft.

PDF Code Slides

Skills

Monetary Policy
Macroeconometrics
Software Development

Contact