Can Local Projections Have Short-Run Restrictions?
Before diving into the blog, allow me to share that it is the first time I wrote an EconMacro blog on a plane. A lot of people seems…
Before diving into the blog, allow me to share that it is the first time I wrote an EconMacro blog on a plane. A lot of people seems…
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…
If you are a macroeconomist interested in impulse response function analysis, you need to watch this presentation by Christian Wolf during the 40th Annual NBER Conference on Macroeconomics,…
Today, we will see how to translate the first part of the code the threshold VAR model in Balke (2000) using ChatGPT5. It took me a few hours and…
In this recent paper, Olea-Montiel, Plagborg-Møller, Qian and Wolf “provide a formal proof of Jordà’s claim that conventional LP confidence intervals for impulse responses are surprisingly robust to…
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