We study the application of approximate mean field variational inference algorithms to Bayesian panel VAR models in which an exchangeable prior is placed on the dynamic parameters and the residuals follow either a Gaussian or a Student-t distribution. This reduces the estimation time of possibly...

We use detailed Norwegian administrative data to identify the income loss associated with the onset of unemployment and analyze the corresponding consumption expenditure response and the extent to which this response is related to household balance sheet components. Unemployment results in a...