The RATS Software Forum

ok, thanks!

You're accumulating the responses to the last three variables, so those will no longer be stationary variables. Thanks! I fixed it and accumulated only differenciated variables. I altered the code a bit and got more reasonable results. Still I'm bit worried about my IRF's after Monte Carlo integrat...

Hi there, I'm trying o replicate the same paper Bjornland (2010), "The role of house prices in the monetary policy transmission mechanism in small open economies", but I'm using the code you provided for Bjørnland, Hilde C. and Kai Leitemo (2009) as the base since the methodology is very s...