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st: IRF interpretation
From
Muhammad Akram <[email protected]>
To
<[email protected]>
Subject
st: IRF interpretation
Date
Mon, 13 Feb 2012 23:41:06 +0500
Dear All,
I need a bit of help in interpreting IRF table values in %age from the following table.
+--------------------------------------------------------------------------------+
| | (1) (1) (1) | (2) (2) (2) |
| step | irf Lower Upper | irf Lower Upper |
|--------+-----------------------------------+-----------------------------------|
|0 | 0 0 0 | 0 0 0 |
|1 | -.000251 -.000975 .000473 | -.000099 -.000705 .000508 |
|2 | -.000622 -.001709 .000464 | -.000389 -.001011 .000233 |
|3 | .000123 -.000908 .001155 | .000188 -.000338 .000715 |
|4 | .00085 -.000348 .002047 | .000266 -.000246 .000779 |
|5 | -.000271 -.001281 .00074 | -.000074 -.000628 .000479 |
|6 | -.000504 -.001704 .000697 | -.000064 -.000613 .000485 |
|7 | .000213 -.000852 .001279 | -.000068 -.000592 .000457 |
|8 | .000025 -.001095 .001145 | -.00005 -.00048 .000379 |
+--------------------------------------------------------------------------------+
95% lower and upper bounds reported
(1) Impulse = opu, and response = D.lgdp
(2) Impulse = opd, and response = D.lgdp
in model oil prices are in US$ and gdp is gdp per capita. So I want to explain from these results how much gdp increases in $s when crude oil price is increased by 10$. I should be greatful for guidance.
Thanks
aasim
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