Published Classic Quarterly Journal of Economics Published Feb 2005Measuring the Effects of Monetary Policy: A Factor-Augmented Vector Autoregressive (FAVAR) ApproachBen S. Bernanke · Jean Boivin · Piotr EliaszThis 2005 Quarterly Journal of Economics paper by Ben Bernanke, Jean Boivin, and Piotr Eliasz proposes the Factor-Augmented VAR (FAVAR) to address a specific problem with standard small monetary VARs: …