Giuliodori, Massimo; Beetsma, Roel - 2004
estimates
The VAR system that we estimate is written as:
1
() ,
ttt
AX C L X Bu
−
=+ (1)
where A is a lower-triangular matrix … with the diagonal elements normalised to unity, X
t
=
[π
t
, g
t
, y
t
, t
t
, i
t
, s
t
]’ is the vector of endogenous …