The dynamic causal effect of an intervention on an outcome is of paramount interest to
applied macro-and microeconomics research. However, this question has been generally …

Does monetary policy have persistent effects on the productive capacity of the economy?
Yes, we find that such effects are economically and statistically significant and last for over a …

Local projections (LPs) are a popular tool in macroeconomic research. We show that LPs
are often used with very small samples in the time dimension and, consequently, that LP …

We consider structural vector autoregressions subject to'narrative restrictions', which are
inequality restrictions on functions of the structural shocks in specific periods. These …

We develop a nonparametric quantile panel regression model. Within each quantile, the
quantile function is a combination of linear and nonlinear parts, which we approximate using …

This study estimates fiscal multipliers and evaluates the effectiveness of fiscal policy in a
large panel of 107 developing countries over the medium term. Using Jorda's local …

This paper provides the uniform asymptotic theory for local projection (LP) regression when
the true lag order of the model is unknown, possibly infinity. The theory allows for various …

This study examines the channels of transmission of unanticipated energy price changes
and monetary policy shocks to household consumption decisions. We use a large and …

We study how monetary policy affects subcomponents of the Personal Consumption
Expenditures Price Index (PCEPI) using local projections. Following a monetary policy …

Different local projection (LP) estimators for structural impulse responses of proxy vector
autoregressions are reviewed and compared algebraically and with respect to their small …