Braun, Helge; Bock, Reinout De; DiCecio, Riccardo - Federal Reserve Bank of St. Louis - 2007
monetary policy shocks, the IRFs of aggregate variables are consistent with
Christiano, Eichenbaum, and Evans (1999), who use a … recursiveness restriction to
identify a monetary policy shock. However, Christiano, Eichenbaum, and Evans
(1999) obtain a more …]:
We additionally identify monetary policy shocks via a recursiveness assumption
as in Christiano, Eichenbaum, and Evans …