Matches in SemOpenAlex for { <https://semopenalex.org/work/W3037133057> ?p ?o ?g. }
- W3037133057 abstract "We provide evidence that many narrative shocks used by prominent literature are persistent. We show that the two leading methods to estimate impulse responses to an independently identified shock (local projections and distributed lag models) treat persistence differently, hence identifying different objects. We propose corrections to re-establish the equivalence between local projections and distributed lag models, providing applied researchers with methods and guidance to estimate their desired object of interest. We apply these methods to well-known empirical work and find that how persistence is treated has a sizable impact on the estimates of dynamic effects." @default.
- W3037133057 created "2020-07-02" @default.
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- W3037133057 date "2020-06-24" @default.
- W3037133057 modified "2023-10-16" @default.
- W3037133057 title "Dynamic Effects of Persistent Shocks" @default.
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