We analyse the determinants of unemployment persistence in four OECDcountries byestimating a structural Bayesian VAR …-teractions with structural shocks and other institutions as crucial determinantsof hysteresis. …

generalized impulse response functions of first and second moments to shocks originating from the regime process, the structural … innovations and the variables themselves. By formulating the MSVAR as an extended linear non-Gaussian VAR for the combination of …

We propose a new Bayesian heteroskedastic Markov-switching structural vector autoregression with data-driven time … six-variable system supports time variation in US monetary policy shock identification. In the sample-dominating first … stimulus, features the liquidity effect, and is complemented by a pure term spread shock. Absent the specific monetary policy …

all variables proposed by theory, despite a broad set of fixed effects (FE). We find that both REERs are important and … multilateral resistances. Untangling normalization helps to get a better view of what is still unexplained by theory. …

impact of government spending shocks using time-varying structural VAR techniques. The results show that the short …