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Mind the gap: Stylized dynamic facts and structural models

dc.contributor.authorCanova, Fabio
dc.contributor.authorFerroni, Filippo
dc.date.accessioned2023-09-27T12:57:42Z
dc.date.available2023-09-27T12:57:42Z
dc.date.created2022-12-14T17:42:35Z
dc.date.issued2022
dc.identifier.citationAmerican Economic Journal: Macroeconomics. 2022, 14 (4), 104-135.en_US
dc.identifier.issn1945-7707
dc.identifier.urihttps://hdl.handle.net/11250/3092451
dc.description.abstractWe study what happens to identified shocks and to dynamic responses when the data generating process features q disturbances but q 1 < q variables are used in an empirical model. Identified shocks are linear combinations of current and past values of all structural disturbances and do not necessarily combine disturbances of the same type. Theory- based restrictions may be insufficient to obtain structural dynamics. We revisit the evidence regarding the transmission of house price and of uncertainty shocks. We provide suggestions on how to compare the dynamics of larger scale DSGEs models with smaller scale VARs. (JEL E12, E13, E23, E31, E43, R31)en_US
dc.description.abstractMind the gap: Stylized dynamic facts and structural modelsen_US
dc.language.isoengen_US
dc.publisherAmerican Economic Associationen_US
dc.titleMind the gap: Stylized dynamic facts and structural modelsen_US
dc.title.alternativeMind the gap: Stylized dynamic facts and structural modelsen_US
dc.typePeer revieweden_US
dc.typeJournal articleen_US
dc.description.versionpublishedVersionen_US
dc.rights.holderAmerican Economic Associationen_US
dc.source.pagenumber104-135en_US
dc.source.volume14en_US
dc.source.journalAmerican Economic Journal: Macroeconomicsen_US
dc.source.issue4en_US
dc.identifier.doi10.1257/mac.20200054
dc.identifier.cristin2093373
cristin.ispublishedtrue
cristin.fulltextoriginal
cristin.qualitycode2


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