Bertsche, Dominik; Brüggemann, Ralf; Kascha, Christian - 2019 - First draft: July 17, 2017, this version: December 10, 2018
need to be included in a VAR if interest is in forecasting or impulse response analysis of a given set of variables. We … small US monetary VAR is useful for impulse response analysis as it avoids the well-known "price-puzzle". We also find that …