the scale of shock in impulse response
Posted: Wed Nov 18, 2015 10:14 amDear Jpfeifer,
My model is estimated using Bayesian estimation including some shocks. I want to know the should I interpret the scale of the shock in the graph of Bayesian impulse response? Is it 1 unit of the std. or 1 percent? If it is 1 unit of the std., is it the std. in the prior or the estimated value?
Thanks!
My model is estimated using Bayesian estimation including some shocks. I want to know the should I interpret the scale of the shock in the graph of Bayesian impulse response? Is it 1 unit of the std. or 1 percent? If it is 1 unit of the std., is it the std. in the prior or the estimated value?
Thanks!