Structural-Var

Thomas Drechsel

This paper combines a hand-collected archival data set of over 800 personal interactions between U.S. Presidents and Federal Reserve officials from 1933 to 2016 with a narrative structural VAR to …

Jonas E. Arias · Juan F. Rubio-Ramírez · Daniel F. Waggoner

Structural vector autoregressions (SVARs) identified with sign restrictions are a widely used tool for estimating dynamic causal effects in macroeconomics. Critics—notably Baumeister and Hamilton …