Cecchetti and Rich, JBES 2001

[TomDoan]

This replicates the 3 variable (Shapiro-Watson) model from Cecchetti and Rich(2001), "Structural Estimates of the U.S. Sacrifice Ratio," JBES, vol 19, no 4, 416-427. This estimates an SVAR using short- and long-run restrictions and gets bootstrapped estimates of the "sacrifice ratio", which is a scalar calculation created from the impulse responses.

svar3.rpf

Program file

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model2.txt

Data file

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