typical unemployment shock, depending on race/gender, resulting in a 3.0% increase in mortality rate and a 0.5% drop in life … expectancy over the next 15 years for the overall American population. We also predict that the shock will disproportionately …

the period 1969 to 2008. All news measures suggest that most components of consumption fall after a positive shock to …

government spending shock. In addition, the deep-habit model predicts that in response to an anticipated increase in government … narrative identification approach. In this way, the deep-habit model reconciles the findings of the SVAR and narrative …

This paper analyzes the quality of VAR-based procedures for estimating the response of the economy to a shock. We focus … question that has attracted a great deal of attention in the literature: How do hours worked respond to an identified shock? In … all of our examples, as long as the variance in hours worked due to a given shock is above the remarkably low number of 1 …

sensible results for a SVAR that identifies money policy shocks using timing restrictions …

This paper develops a structural VAR model to measure how a shock to one country can affect the GDP of other countries …. It uses trade linkages to estimate the multiplier effects of a shock as it is transmitted through other countries' output …-trade matrix. For example, due to these output-multiplier effects, a shock to one country can have a large impact on countries that …