Independent Component Analysis (ICA) is a statistical method that transforms set of random variables in least dependent linear combinations. Under the assumption observed data are mixtures non-Gaussian and independent processes, ICA able to recover underlying components, but scale order indeterminacy. Its application structural vector autoregressive (SVAR) models allows researcher impact shocks...

This paper estimates a SVAR to assess Mexican monetary policy responses and effects. To build it Gali & Monacelli (2005) New Keynesian Open Economy Model represents the main tool, but investment international reserves are artificially added because of its empirical relevance explain economy. Using monthly data from January 2002 September 2018, evince that government intervenes markets using...

It is generally known that violent oil price volatility will cause market panic; however, the extent to which worthy of empirical test. Firstly, this paper employs TVP-VAR model analyze time-varying impacts on panic index using monthly data from January 1990 November 2021. Then, after SVAR decompose volatility, uses PDL heterogeneous different sources. Finally, based results decomposition, TARC...

This study aims to explain the relationship between price and financial stability in monetary policy designs that have developed since 1990s empirically examine of US. To this effect, examines time-varying structure US, where policies are designed achieve stability, full employment moderate long-term interest rate targets using TVP-SVAR model for period 1993:12-2020:12. The results demonstrate ...

We estimate government spending and tax multipliers in the United States via a flexible proxy-SVAR model, where identification is achieved by combining fiscal non-fiscal instruments with additional parametric restrictions. find that, while multiplier robustly estimated to be larger than one across different models, of sensitive combination that we use. unveil key factor behind these heterogeneo...

We investigate the international propagation of tax rate shocks originating in USA using a global vector error correction model. identify to corporate and personal income rates by narrative series as external instruments, following proxy-SVAR methodology. The main results are following: (1) In terms fiscal multiplier, domestic effects stronger than those shock; (2) spillovers most cases positiv...

We observed in a previous study (PLoS ONE 6:e24522) that the self-regulation of amygdala activity via real-time fMRI neurofeedback (rtfMRI-nf) with positive emotion induction was associated, in healthy participants, with an enhancement in the functional connectivity between the left amygdala (LA) and six regions of the prefrontal cortex. These regions included the left rostral anterior cingulat...