The paper provides a review of the estimation of structural vector autoregressions with sign
restrictions. It is shown how sign restrictions solve the parametric identification problem …

The dramatic increase in securitisation activity experienced in Europe in the years following
the introduction of the euro has altered the liquidity, credit and maturity transformation role …

Using a Bayesian likelihood approach, we estimate a dynamic stochastic general
equilibrium model for the US economy using seven macroeconomic time series. The model …

We propose and apply a new approach for analyzing the effects of fiscal policy using vector
autoregressions. Specifically, we use sign restrictions to identify a government revenue …

We study sources and consequences of fluctuations in the US housing market. Slow
technological progress in the housing sector explains the upward trend in real housing …

The impact of announcements of large-scale purchases of government bonds on real GDP
and the CPI in the United Kingdom and the United States is explored with a Bayesian VAR …

The last twenty years have witnessed tremendous advances in the mathematical, statistical,
and computational tools available to applied macroeconomists. This rapidly evolving field …

Sign restrictions on the responses generated by structural vector autoregressive models
have been proposed as an alternative approach to the use of exclusion restrictions on the …

Abstract We build a New Keynesian business-cycle model with rich household
heterogeneity. A central feature is that matching frictions render labor-market risk …

This paper examines how oil price shocks affect the output growth of selected MENA
countries that are considered either net exporters or net importers of this commodity, but are …