McGrattan’s Discussion of CEV

 

Above is the link to Ellen McGrattan’s response to the Christiano, Eichenbaum, and Vigfusson (CEV) paper “VARs as a Guide to Estimating Dynamic General Equilibrium Models.”

 

Ellen’s response is in Powerpoint with narration and is setup as a slide show. It is a voice-over version of her presentation at the 2006 ASSA meetings.

 

The whole presentation takes about 30 minutes and covers both the line of argument in the paper, A Critique of Structural VARs Using Business Cycle Theory, by Chari, Kehoe, and McGrattan, Staff Report 364, as well as the detailed response to CEV.

 

For the whole presentation, in PowerPoint,

1. Click on “SlideShow” (the 7th choice in the pulldown menu at the top of the page)

2. Click on “View Show’’ in the pulldown menu

 

If you are just interested in the Response to CEV start at Slide 40. In PowerPoint:

1.      Start in Normal View (Click on the “View” pulldown and select “Normal”)  

2.      Scroll down the slides that pop up on the left side of the screen until you get to Slide 40. Click on Slide 40 (it will become highlighted in blue.)

3.      In the lower left-hand corner of the interface click on the third of three little buttons. When you hold your cursor on it, it says “Slide Show (from current slide)”

 

 

Sit back and enjoy

 

Links to Original Papers

VARs as a Guide to Estimating Dynamic General Equilibrium Models Christiano, Eichenbaum, Vigfusson

 

A Critique of Structural VARs Using Business Cycle Theory, Chari, Kehoe, McGrattan

Assessing Structural VARs, Christiano, Eichenbaum, Vigfusson