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Corrigendum: Assumption 3.pdf

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Summary

A corrigendum to Montiel Olea and Plagborg-Møller (2021) modifies Assumption 3 to allow for a wider range of VAR(p) models, including nonstationary ones, by redefining the matrix G(A, h, ϵ). The modified assumption requires the sample second moment matrix of a scaled and transformed process to be asymptotically uniformly nonsingular. The modification does not affect the theoretical conclusions, econometric procedures, simulation results, efficiency calculations, or verbal discussions in the original paper. The proofs of some propositions and lemmas need to be adjusted to accommodate the new assumption.

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A corrigendum to Montiel Olea and Plagborg-Møller (2021) modifies Assumption 3 to allow for a wider range of VAR(p) models, including nonstationary ones, by...

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  • File Format: PDF
  • File Size: 340 KB
  • Pages: 5
  • Language: EN
  • Total Downloads: 220
  • Last Updated: 3 weeks ago

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