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economy. We use a two-stage non-recursive VAR model to identify monetary shocks. We construct then various overall monetary …
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One of the leading methods of estimating the structural parameters of DSGE models is the VAR-based impulse response … response parameters exceeds the number of VAR model parameters. Situations in which this order condition is violated arise …
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fluctuations in the UK data as well as an unrestricted VAR(1) does. …
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This contribution investigates the business cycles of Switzerland compared to its five neighboring countries Germany, Austria, Italy, France and Liechtenstein. In contrast to the widespread notion of small countries "importing" the business cycle from bigger neighbors, it is shown that the real...
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