Hi everyone,
I want to ask a question about the usage of "shock_decomposition" command in Dynare. In the output of this command, besides the individual contribution of the shocks, I also get a series for "initial values". What is the interpretation of initial values? For example, while for some variables I have high initial values in the shock decomposition, for some other variables, I have very small initial values. Does this means anything special about my estiamtion?
I also wonder why the historical decomposition in Christiano et al, 2007 (http://faculty.wcas.northwestern.edu/~l ... b2007a.pdf) does not include any initial value. Thank you very much for the answers in advance.
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Historical Decomposition
by haroun » Tue Jun 01, 2010 11:36 am
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Re: Historical Decomposition
by jpfeifer » Sun Jul 20, 2014 7:31 am
See http://www.dynare.org/phpBB3/viewtopic.php?f=1&t=3299. My guess for the Christiano et al paper is that they just decided to not plot it.
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