impulse responses and find that, in order to match the fall in consumption recorded by the VAR, we have to allow for 75% of …

, consumption and investment. In this paper, we apply a structural vector autoregressive (SVAR) model to gain first insights that … general investment and consumption of longlived goods in the EMU core countries in order to be prepared to react on different …

wedges to the variables government consumption, durables, investment, labor, net exports, and efficiency. The results suggest … consumption wedge and in particular the durables wedge acted counter-cyclical. We attribute the latter to an internationally … government consumption. We introduce a strategy for likelihood maximization, which reliably and quickly locates the maximum …

sample size or magnitude of a break is small. An application to postwar U.S. real gross domestic product and consumption … literature. Furthermore, when taking co-integration between output and consumption into account, confidence sets for structural …

, consumption and investment. In this paper, we apply a structural vector autoregressive (SVAR) model to gain first insights that … general investment and consumption of long-lived goods in the EMU core countries in order to be prepared to react on different …