10/4/2023 0 Comments Eviews 9 copy numbers spread sheetTherefore, I believe that the IRFs of those variables, should - by definition - start with zero. In contrast, fast-moving variables (think of asset prices) are allowed to respond contemporaneously to policy shocks.įrom my perspective, the underlined definition of slow-moving variables is exactly a description of the impulse response behaviour of those variables, namely that they are not supposed to react to an unanticipated shock in the policy rate within the same period. In particular, we define two categories of information variables: "slow-moving" and "fast-moving." Slow moving variables (think of wages or spending) are assumed not to respond contemporaneously to unanticipated changes in monetary policy.
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