Local Projections in EViews 14

[v02max]

Hi everyone, I'm currently demoing EViews 14 to check out the asymmetric IRFs feature in the new local projections environment.

I've been trying to run the code below, but EViews suddenly closes every time I run it. What I want to do is generate an asymmetric IRF for var1 to var5 by estimating a sequential LP from externally identified shocks shocka to shockd. The categorical variable I'm using is pos_shocka to pos_shockc which is equal to 1 if the shock variable is positive and 0 otherwise.

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for %y var1 var2 var3 var4 var5 for %z shocka shockb shockc smpl 2002 2023 if {%y} <> na var lp_{%y}_{%z}.ls 1 2 {%y} shock_{%z} @ c @trend freeze(gr_{%y}_{%z}) lp_{%y}_{%z}.impulse(irtype=lp, hrz=12, hac, lag=a, infosel=irhorizon, asym=pos_{%z}) {%y} @imp {%z} next next

Would appreciate any response to this thanks!

[EViews Mirza]

Hi!

Can you provide the workfile you're using for the program? It would help in figuring out the issue.

[v02max]

Hi Mirza, I've attached the workfile for your reference.

I think I've found the issue. If I keep the responses in default, the IRFs will be calculated:

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for %y var1 var2 var3 var4 var5 for %z shocka shockb shockc smpl @first @last if {%y} <> na var lp_{%y}_{%z}.ls 1 2 {%y} {%z} @ c @trend freeze(gr_{%y}_{%z}) lp_{%y}_{%z}.impulse(irtype=lp, imp=nonort, hrz=20, hac, lag=a, infosel=irhorizon, asym=pos_{%z}) @imp {%z} next next

However, if I only choose which responses I'd like to see, that's when the program crashes:

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for %y var1 var2 var3 var4 var5 for %z shocka shockb shockc smpl @first @last if {%y} <> na var lp_{%y}_{%z}.ls 1 2 {%y} {%z} @ c @trend freeze(gr_{%y}_{%z}) lp_{%y}_{%z}.impulse(irtype=lp, imp=nonort, hrz=20, hac, lag=a, infosel=irhorizon, asym=pos_{%z}) {%y} @imp {%z} next next

[EViews Mirza]

This helps tremendously! We'll get a fix ready as soon as possible.

Thanks!

[EViews Mirza]

The issue has been resolved. You can expect the fix to be available with our next EViews 14 patch.