This rejoinder addresses the discussants’ specific comments on the article “Narrative Restrictions and Proxies” (Section 2) as well as more general comments on the approach to robust Bayesian…
We compare two approaches to using information about the signs of structural shocks at specific dates within a structural vector autoregression (SVAR): imposing “narrative restrictions” (NR) on…
The goal of many randomized experiments and quasi-experimental studies in economics is to inform policies that aim to raise incomes and reduce economic inequality. A policy maximizing the sum of in…