This paper studies the statistical properties of impulse response functions in structural vector autoregressions (SVARs … typically the case for per capita hours worked which are included in SVARs. Theoretical results derived from this specification … allow to explain most of the empirical findings from SVARs which include U.S. hours worked. Simulation experiments from an …

This paper investigates the reliability of SVARs in identifying the dynamic effects of news shocks. Using a simple but … insightful model with a non-fundamental representation, we show analytically under which conditions SVARs are likely to be …

This paper investigates the reliability of SVARs to identify the dynamic effects of news shocks. We show analytically … that the dynamics implied by SVARs, using both long–run and short–run restrictions, are biased. However, the bias vanishes …

This paper studies the statistical properties of impulse response functions in structural vector autoregressions (SVARs … typically the case for per capita hours worked which are included in SVARs. Theoretical results derived from this specification … allow to explain most of the empirical findings from SVARs which include U.S. hours worked. Simulation experiments from an …

The usefulness of SVARs for developing empirically plausible models is actually subject to many controversies in … quantitative macroeconomics. In this paper, we propose a simple alternative two step SVARs based procedure which consistently … business cycle model show that our approach outperforms standard SVARs. The two step procedure, when applied to actual data …

. Unfortunately, the estimated response is generally sensitive to the specification of hours in SVARs. This paper uses a simple two …

This paper studies the statistical properties of impulse response functions in structural vector autoregressions (SVARs …. This is typically the case for per capita hours worked which are included in SVARs. Theoretical results derived from this … specification allow us to explain most of the empirical findings from SVARs which include US hours worked. …

This paper assesses SVARs as relevant tools at identifying the aggregate effects of news shocks. When the … econometrician and private agents’ information sets are not aligned, the dynamic responses identified from SVARs are biased. However …

This paper assesses SVARs as relevant tools at identifying the aggregate effects of news shocks. When the … econometrician and private agents’ information sets are not aligned, the dynamic responses identified from SVARs are biased. However …