(d) The generalised impulse response diagrams are shown below. Response to Generalized One S.D. Innovations + 2 analytic asymptotic S.E.s Response of DEXRATE to DEXRATE Innovation Response of DEXRATE to DCP Innovation 03 03 .02 .02 .01 .01 .00 00 -.01 -.01 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 Response of DCP to DEXRATE Innovation Response of DCP to DCP Innovation .03 03 .02 .02 .01 .01 .00 .00 .01 -.01 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 Which shock is more persistent with respect to its own shock? [2] (e) A reporter commented that a commodity price shock drives up the external value of the Australian dollar. [2] Based on the generalised impulse response, do you agree or disagree with the reporter's comment? Explain