Pesavento, Elena; Rossi, Barbara - Duke University, Department of Economics - 2006
response functions in the presence of high persistence. Monte Carlo results show that Kilian (1998a), Wright (2000), Gospodinov …-
ing confidence bands for univariate impulse response functions in the presence of
high persistence. Monte Carlo results …. Introduction
Impulse response functions (IRFs) are the most commonly used tool to evaluate
the effect of shocks on macroeconomic …