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Discussion

Comments on “Narrative Restrictions and Proxies” by Giacomini, Kitagawa, and Read

 

Abstract

The views expressed in this paper are solely those of the author and do not necessarily reflect the views of the Federal Reserve Bank of Atlanta or the Federal Reserve System. Any errors or omissions are the responsibility of the author. No statements here should be treated as legal advice.

Preliminary and Incomplete. Do not circulate without consent from the author.

Notes

1 I refer the reader to Inoue and Kilian (Citation2022) for the exact prior parameterization.

2 These figures are borrowed from Inoue and Kilian (Citation2022).

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