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Measuring the Effects of a Shock to Monetary Policy - Humboldt ...

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60 Bayesian FAVARs with Agnostic Identification<br />

If <strong>the</strong> candidate satisfies <strong>the</strong> block <strong>of</strong> sign restrictions in <strong>the</strong> current block criteria, it is<br />

added <strong>to</strong> finalResponses().response. If <strong>the</strong> position <strong>the</strong> candidate is added <strong>to</strong><br />

is <strong>the</strong> last element <strong>of</strong> finalResponses().response <strong>the</strong> size <strong>of</strong> .response matrix<br />

is increased by fr_add_length which has a default value <strong>of</strong> 1% <strong>of</strong> <strong>the</strong> <strong>the</strong> [draws × α].

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