Structural Interpretation of Vector Autoregressions with Incomplete Identification Revisiting the Role of Oil Supply and Demand Shocks

Traditional approaches to structural vector autoregressions (VARs) can be viewed as special cases of Bayesian inference arising from very strong prior beliefs. These methods can be generalized with a less restrictive formulation that incorporates uncertainty about the identifying assumptions themsel...

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Bibliographic Details

Published in:	The American economic review Vol. 109; no. 5; pp. 1873 - 1910
Main Authors:	Baumeister, Christiane, Hamilton, James D.
Format:	Journal Article
Language:	English
Published:	Nashville American Economic Association 01.05.2019
Subjects:	Accumulation Bayesian analysis Crude oil prices Economic activity Economic models Globalization Inference Petroleum Regression analysis Supply & demand Uncertainty
ISSN:	0002-8282, 1944-7981
Online Access:	Get full text
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