of the new prior via a structural analysis using a 15-variable VAR with sign restrictions to identify 5 structural shocks. …

variables with data from international container trade. Using a novel identification scheme, we augment conventional sign … restrictions on the impulse responses by narrative information about three episodes: the Tohoku earthquake ¯ in 2011, the Suez …

variables with data from international container trade. Using a novel identification scheme, we augment conventional sign … restrictions on the impulse responses by narrative information about three episodes: the Tohoku ¯ earthquake in 2011, the Suez …

theoretically motivated sign restrictions on factor loadings. The results provide a narrative of the evolution of the stance of …