Tag: Inflation

Equivalence of Cholesky identified shocks in VARs and Local Projections

Local projections have become a standard tool in applied macroeconometrics. They are widely used to estimate dynamic responses to shocks, especially when researchers do not want to impose…

Not all recessions are created equal — Pandemic edition

Let me draw your attention to this piece written by Tomasz Wieladek for The Economist: https://www.economist.com/by-invitation/2023/12/11/tomasz-wieladek-has-an-explanation-for-recent-macroeconomic-puzzles In this piece, Tomasz Wieladek argues that the pandemic recession was particular…