An n-variable structural vector auto-regression (SVAR) can be identified (up to shock order) from the evolution of the … process. I propose a new identification argument that identifies the SVAR up to shock orderings using the autocovariance … structure of second moments of the residuals implied by an arbitrary stochastic process for the shock variances. These higher …

on the recursive approach of Caldara and Kamps (2008). The estimation results suggest that (i) the government expenditure … shock has positively contributed to Australia's economic growth; (ii) the shock has also had positive effects on price …

Euro Area economies to a one percent shock in government consumption and business confidence. The evidence suggests that … even though the response to a government consumption shock is strong, a shock in expectations has an even greater effect …

quarter) and quarterly logarithmic real variables are used for the VAR´s specification. Point estimation of impulse response …