Question: Calculate the impulse-response functions. Explain the four functions and discuss your findings. Comment on whether the ordering of the series matters for your results.

Calculate the impulse-response functions. Explain the four functions and discuss your findings. Comment on whether the ordering of the series matters for your results.

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We calculate the impulse response functions for the bivariate VAR 3 in Exercise 6 First we follow the ordering GSF GAL which implies that a shock in t... View full answer

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