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Impulse Responses in US Data
.030
.025
Investment
.020
Output
Hours
.015
.042
Impulse Responses in Model 1 (Hansen RBC Economy)
.036
Consumption
Investment
.030
Output
.024
Hours
Consumption
.018
.010
.012
.005
.006
.000
.000
-.005
-.006
-.010
-.012
0
3
6
9
12
15
18
21
24
0
3
6
QUARTERS
.036
9
12
15
18
21
24
QUARTERS
Impulse Responses in Model 2 (Baxter-King Economy)
Impulse Responses in Model 3 (Benhabib-Farmer Economy)
.050
.030
Investment
Output
.024
Investment
Hours
Consumption
.018
Output
.025
Hours
Consumption
.012
.006
.000
.000
-.006
-.012
-.025
0
3
6
9
12
15
18
21
24
QUARTERS
0
3
6
9
12
15
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24
QUARTERS
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