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more user-friendly things #31
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adamwang15
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this takes suspiciously long to run, try to make it faster data(monetary)
# contractionary monetary policy shock
sign_irf = matrix(NA, 6, 6)
sign_irf[, 1] = c(NA, -1, -1, NA, -1, 1)
sign_irf = array(sign_irf, dim = c(6, 6, 5))
# in October 1979 the shock
sign_narrative = rbind(c(1, 1, NA, 1, 166, 0), # is positive
c(3, 1, 6, 1, 166, 0)) # greatest historical decomposition
specification = specify_bsvarSIGN$new(monetary,
p = 12,
sign_irf = sign_irf,
sign_narrative = sign_narrative)
posterior = estimate(specification, S = 10)
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adamwang15
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