structural matrix is globally identified and a Savage-Dickey density ratio is used to assess the validity of the identification … identification. The empirical results support models with money in the interest rate reaction function. …

systems of times series can be fruitfully exploited for identification purposes in SVARs. We show by means of a Monte Carlo …

process. I propose a new identification argument that identifies the SVAR up to shock orderings using the autocovariance … select among shock orderings; this selection does not impact inference asymptotically. The identification scheme performs …An n-variable structural vector auto-regression (SVAR) can be identified (up to shock order) from the evolution of the …

compared with two less structural approaches for identification of monetary policy shocks. The first assumes that shocks can be … wisdom about the effects of monetary policy shock. …

finite sample properties of the Lasso by deriving upper bounds on the estimation and prediction errors that are valid with …