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Hi, I have estimated a VECM for 10 variables with 4 cointegrating equations, and am consequently using IRFs as my primary source for interpreting the impact of each of the system's variables on y. However, I am confused by the interpretation of the EViews IRF output. All of my variables are natural ...

Hi all, I have estimated a VEC model for a set of 10 macroeconomic variables using five cointegrating equations, as suggested by the Johansen test. Once I run Granger causality tests (Wald), for the model of interest I have found that one variable unidirectionally Granger causes the dependent variab...