A central question in applied research is to estimate the effect of an exogenous intervention or shock on an outcome …

shock to the sector - a measure of the systemic risk of each sector. Tail centrality is theoretically and empirically very …

monetary policy is more effective in taming inflation after a global supply chain shock than in regular circumstances …

. Specifically, we use sign restrictions to identify a government revenue shock as well as a government spending shock, while … controlling for a generic business cycle shock and a monetary policy shock. We explicitly allow for the possibility of … announcement effects, i.e., that a current fiscal policy shock changes fiscal policy variables in the future, but not at present …

econometric issues are addressed including estimation of the number of dynamic factors and tests for the factor restrictions …