论文检索

答复讨论者AI 解读

We thank the discussants for their thoughtful and stimulating comments. The goal of our paper was to highlight a robustness wedge: vector autoregressions (VARs) and linear local projections onto ob...

非线性世界中的动态因果效应：良好、不佳与棘手的情形AI 解读

Applied macroeconomists frequently use impulse response estimators motivated by linear models. We study whether the estimands of such procedures have a causal interpretation when the data generating process is in fact nonlinear. We show that vector autoregressions and linear local projections onto observed shocks or proxies identify weighted averages of causal effects regardless of the extent of nonlinearities. By contrast, identification approaches that exploit…