Hello,
I am using VAR estimation, impulse response function (IRF) to determine monetary policy shocks on GDP growth and inflation. As I understand the magnitude of shock is the standard deviation. Is it possible to convert Y-axis units to percentage points? and thus obtain results for the effect of a 1pp interest rate shock on GDP growth and Inflation in percentage points.
I also post the screenshot from my calculation. How it can be converted to percentage points?
Thank you in advance
I am using VAR estimation, impulse response function (IRF) to determine monetary policy shocks on GDP growth and inflation. As I understand the magnitude of shock is the standard deviation. Is it possible to convert Y-axis units to percentage points? and thus obtain results for the effect of a 1pp interest rate shock on GDP growth and Inflation in percentage points.
I also post the screenshot from my calculation. How it can be converted to percentage points?
Thank you in advance
