8th Central European Conference on Cryptography 2008 1 Table 1. Experimental Results: Magma, Singular, and Mini-SAT. Num Vars Num Eqns β or Sparsity Magma Singular SAT 2 2 1.0 0.02 sec 0.01 sec 0.01 sec 3 3 1.0 0.04 sec 0.04 sec 0.07 sec 4 4 1.0 0.43 sec 423.48 sec 213.56 sec 5 5 1.0 4.32 sec > 75 mins 19278.9 sec 6 6 1.0 42.78 sec no trial > 75 mins 7 7 1.

This paper estimates responses of four European economies to monetary policy shocks in a structural VAR framework. The specification and identification follow and adapt the existing methods of elimination of the ’VAR puzzles’ in open economies. The country VARs are estimated together as a system, with the exchangeable prior that pools some of the information across countries. This approach regu...

We derive a framework for asymptotically valid inference in stable vector autoregressive (VAR) models with conditional heteroskedasticity of unknown form. We prove a joint central limit theorem for the VAR slope parameter and innovation covariance parameter estimators and address bootstrap inference as well. Our results are important for correct inference on VAR statistics that depend both on t...

Based on standard New Keynesian models I show that policy counterfactuals based on the theoretical structural VAR representations of the models fail to reliably capture the impact of changes in the parameters of the Taylor rule on the (reduced-form) properties of the economy. Based on estimated models for the Great Inflation and the most recent period, I show that, as a practical matter, the pr...

This paper provides a method to estimate time varying coe¢ cients structural VARs which are non-recursive and potentially overidenti…ed. The procedure allows for linear and non-linear restrictions on the parameters, maintains the multi-move structure of standard algorithms and can be used to estimate structural models with di¤erent identi…cation restrictions. We study the transmission of moneta...