IRF plots query
Posted: Wed Aug 03, 2016 11:33 am
Just one question. In the plots of IRFs, the lines start at 1. I suppose that 1 is the contemporaneous effect. Does that mean that the response associated with abcissa 2 is the 1-period response and the response associated with abcissa t is the t+1-period response?
best
justin
best
justin