Update to figure 1 in "Macroeconomic Shocks and their Propagation"

Arbeitspapier

This note proposes an update to Figure 1 in "Macroeconomic Shocks and their Propagation" in the Handbook of Macroeconomics of 2016 (Ramey, 2016). Figure 1 of Ramey (2016) reports Impulse-Response Functions (IRFs) of variables of interest to a shock in the Federal Funds Rate, following the baseline and variations of the Vector Autoregression (VAR) models in Christiano et al. (1999). This note shows that, when using a time series for FED non-borrowed reserves that is not corrected for regulatory changes in reserve requirements, the results for the period 1983-07 are robust to the inclusion of monetary variables.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Graduate Institute of International and Development Studies Working Paper ; No. HEIDWP01-2021

Classification and Topics

• Classification: Wirtschaft ; Monetary Policy ; Central Banks and Their Policies ; Studies of Particular Policy Episodes
• Subject: Central Bank ; FED Reserves ; VAR

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Chiarotti, Edoardo
• Event: Veröffentlichung
• (who): Graduate Institute of International and Development Studies
• (where): Geneva
• (when): 2021

Further information

• Handle: http://hdl.handle.net/10419/238092
• Last update: 10.03.2025, 11:44 AM CET