Session 2 - Fall 2023 will take place on Wednesday, 4:00 PM CET / 3:00 PM GMT, 27 September 2023, on Zoom Meeting
About The Series
The CIVICA Data Science Seminar series is a unique multi-disciplinary series focused on applications and methodologies of data science for the social, political, and economic world.
Session 2 Details
Central banks play a pivotal role in shaping economic outcomes and monetary policy decisions. Effective communication from central banks is essential for guiding financial markets and maintaining economic stability. Traditionally, Natural Language Processing (NLP) algorithms have been employed to decode central bank statements. However, these algorithms often miss the nuances of context within the texts.
Enter Large Language Models, or LLMs, which represent the cutting edge of NLP technology. These sophisticated algorithms are capable of considering context comprehensively, leading to more accurate and insightful analyses. This seminar session presents Moritz Pfeifer's and Vincent Philipp Marohl's implementation of CentralBankRoBERTa, a state-of-the-art economic agent classifier that distinguishes five basic macroeconomic agents and binary sentiment classifier that identifies the emotional content of sentences in central bank communications.
Moritz and Vincent will walk us through the implementation of their model and explore its different potential applications in the financial sector and beyond.
Vincent Philipp Marohl
Vincent is a research assistant at Columbia Business School and a student in Mathematics at Columbia University. His research interests lie in Monetary Theory and Policy, as well as Financial Stability. He holds undergraduate degrees in Economics and Social Sciences from Sciences Po Paris and the University of Lorraine, and has previously worked for the German Central Bank. He is also a German national merit scholar.
Moritz is currently employed as a post-doctoral researcher at the Institute of Economic Policy at Leipzig University. He holds a PhD in economics from Nanterre University. His research interests focus on currency competition, central bank communication and scientific paradigms in monetary policy. He has previously lectured at the University of Nanterre and Sciences Po Paris.
Welcome Introduction Prof. Nicolo' Cavalli, Bocconi
Setting the scene: Brief intro to the speaker and their talk
Seminar Session Vincent Philipp Marohl (Columbia University) & Moritz Pfeifer (Leipzig University)
CentralBankRoBERTa: A Fine-Tuned Large Language Model for Central Bank
Research Discussion. Lead Institution
Q&A / Discussion on the research
Upcoming seminar in the series and other announcements