Narrative Identification

Christina D. Romer · David H. Romer

This 2004 American Economic Review paper by Christina D. Romer and David H.

Olivier Coibion

This 2012 American Economic Journal: Macroeconomics paper by Olivier Coibion asks why standard recursive VARs and the Romer-Romer (2004) narrative approach produce such different estimates of the real …

John H. Cochrane

Discussing Christina and David Romer's "A New Measure of Monetary Shocks," Cochrane argues the paper's key innovation -- that Greenbook forecasts are a sufficient statistic for the Fed's information …

David Bügel · Albert Hidalgo · Ralph Luetticke

Asking whether unconventional monetary policy works differently from an interest-rate cut has been hard to answer because the two kinds of policy have been measured with different tools, so any …