Hi,

I am trying to understand how to get the IR right for the variable POstar (international price of oil).

In the first model (… denoted Model5_externaldraft3), the IR does not show up. I though it has to do with the overall external sector part of the model. So I expanded with the all relevant variables in the new model (Model5_external). Now the impulse is not smooth.

My primary focus is Model5_externaldraft3 as it is more simplified. I will appreciate any advise to get the impulse showing. Thanks.

Model5_Externaldraft3.m (4.1 KB)

Model5_Externaldraft3.mod (7.6 KB)

Model5_External.mod (8.7 KB)

Model5_ExternalSS.m (4.2 KB)