We propose to add ranking restrictions on impulse?responses sign narrow the identified set in vector autoregressions (VARs). Ranking come from micro data heterogeneous industries VARs, bounds elasticities, or dynamics. Using both a fully Bayesian conditional uniform prior and prior?robust inference, we show that these help identify productivity news shocks data. In paradigm, restrictions, but n...

We describe a methodology that integrates the narrative approach to the identification of macroeconomic shocks into existing structural VAR settings while allowing for measurement error in the narrative measures of the shocks of interest. We apply our methodology to the fiscal VAR setup of Blanchard and Perotti (2002) and make use of the tax shocks constructed by Romer and Romer (2009). We find...