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IRF: damped oscillations

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IRF: damped oscillations

Postby Mark57 » Wed May 20, 2015 7:18 am

Hi,
I am working on a fairly complex DSGE model. Its impulse responses to shocks have a shape of damped oscillations. Is it a problem?
Thanks!
mark
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Re: IRF: damped oscillations

Postby jpfeifer » Sat May 23, 2015 1:07 pm

Unless you have a really good explanation for why you should have oscillations, it simply suggests that you most probably still have a mistake in your model that gives rise to a complex eigenvalue. Most often, it is a timing mistake.
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
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Re: IRF: damped oscillations

Postby Mark57 » Mon May 25, 2015 5:40 am

Thanks! I will definitely check the model's equations again.

jpfeifer wrote:Unless you have a really good explanation for why you should have oscillations, it simply suggests that you most probably still have a mistake in your model that gives rise to a complex eigenvalue. Most often, it is a timing mistake.
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