Impulse response interpretation

[philipecon]

Dear All,

I have a question about interpreting one standard deviation impulse responses when conducting a SVAR study.

Particularly, in my SVAR system I have the stock index in log levels and the interest rate in levels. Lets say I have that a one-sd interest rate shock leads to a x% decrease in stock prices. Given that the standard deviation is s, can I thus say that a 100 percentage points increase in the interest rate leads to a x/s % decrease in stock prices?

Following from this, how would one interpret the effect of a one-sd stock index shock on the interest rate?

Thanks for any help in advance!