SVAR user defined impulse response

[philipecon]

Dear all,

I am estimating a 8-variable monetary policy SVAR. I am interested in the impulse responses following a 0.25 increase in the interest rate. I thus define an 8-row vector with all rows as zeros, apart from the interest rate row where I enter 0.25. I use this for my user defined impulse responses. All variables respond with a lag, even though my contemporaneous structure allows for some variables to react in the same period to a interest rate shock. Could someone please tell me why is this the case and what am I doing wrong?

Thank you in advance.

[philipecon]

Could anyone please help me here?