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State-Dependent Local Projections : Understanding Impulse Response Heterogeneity

Cloyne, James; Jordà, Òscar; Taylor, Alan M. - National Bureau of Economic Research - 2023

An impulse response is the dynamic average effect of an intervention across horizons. We use the well-known Kitagawa-Blinder-Oaxaca decomposition to explore a response's heterogeneity over time and over states of the economy. This can be implemented with a simple extension to the usual local...

Persistent link: https://www.econbiz.de/10014226168

State-dependent local projections: understanding impulse response heterogeneity

Cloyne, James S.; Jordà, Òscar; Taylor, Alan M. - 2023

Persistent link: https://www.econbiz.de/10014287867

State-dependent local projections : understanding impulse response heterogeneity

Cloyne, James S.; Jordà, Òscar; Taylor, Alan M. - 2023

Persistent link: https://www.econbiz.de/10013540547

Trade and uncertainty : conference paper

Novy, Dennis; Taylor, Alan M. - 2014

combines the uncertainty shock idea of Bloom (2009) with a model of trade, extending the idea to the open economy. Firms import … hold an inventory of intermediates. In response to an uncertainty shock firms optimally adjust their inventory by cutting …

Persistent link: https://www.econbiz.de/10010484416

Trade and uncertainty

Novy, Dennis; Taylor, Alan M. - 2014

Persistent link: https://www.econbiz.de/10010356321

Trade and uncertainty

Novy, Dennis; Taylor, Alan M. - 2014

combines the uncertainty shock idea of Bloom (2009) with a model of international trade, extending the idea to the open economy … costs of ordering firms hold an inventory of intermediates. We show that in response to an uncertainty shock firms optimally …

Persistent link: https://www.econbiz.de/10010358978