THE EFFECTS OF FISCAL POLICY SHOCKS IN SVAR MODELS: A GRAPHICAL MODELLING APPROACH
THE EFFECTS OF FISCAL POLICY SHOCKS IN SVAR MODELS: A GRAPHICAL MODELLING APPROACH
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SVAR 模型中财政政策冲击的影响：图形建模方法
DOI：
10.1111/j.1467-9485.2011.00558.x
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发表时间：
2011
影响因子：
1.1
通讯作者：
Fragetta M
中科院分区：
文献类型：
--
作者：
Fragetta M
我们应用图形建模（GM）理论来识别美国经济SVAR模型中的财政政策冲击。与其他计量经济学方法不同--它们通过依赖潜在的有争议的假设来实现识别-- GM是一种基于数据的工具。我们的结果与凯恩斯理论模型一致，在数量上也与最近的SVAR文献laBlanchard和Perotti（2002）中的结果相似，并与新古典真实的商业周期预测形成对比。稳定性检查证实，我们的发现不是由样本选择驱动的。
We apply graphical modelling (GM) theory to identify fiscal policy shocks in SVAR models of the US economy. Unlike other econometric approaches – which achieve identification by relying on potentially contentiousa prioriassumptions – GM is a data based tool. Our results are in line with Keynesian theoretical models, being also quantitatively similar to those obtained in the recent SVAR literatureà laBlanchard and Perotti (2002), and contrast with neoclassical real business cycle predictions. Stability checks confirm that our findings are not driven by sample selection.