In SVARs, identification of structural shocks can be subject to nonfundamentalness, as the econometrician may have an … paper we propose a simple diagnostic for the quantitative importance of nonfundamentalness in structural VARs. The … diagnostic is of interest as nonfundamentalness is not an either/or question, and its quantitative implications can be more or …

are likely to suffer from nonfundamentalness and yield biased results. We tackle this problem by estimating a Structural …