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Impulse Response Function

Posted: Fri Feb 19, 2021 8:03 am
by lisa

I'am trying to estimate the impact of fiscal policy shocks on economic growth.
To this end, I estimated a Structural VAR (SVAR) model with 3 variables (dlog(recsa), dlog(depensesa), dlog(pib_annsa)).

My question is how to interpret these impulse response graphs in the attachment?
impulse response function.docx
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where shock 2 in the graphs refers to the shock on dlog(depensesa).

Thank you for your help.