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Finance and Economics Discussion Series: Data for paper 000959

Managing Beliefs about Monetary Policy under Discretion

Elmar Mertens

Figure 6: Impulse Responses with Belief Shocks

 Xdata x, Prior Beliefs x, Response Function pi, Prior Beliefs pi, Response Function Target, Prior Beliefs Target, Response Function n, Actual n, Belief tau, Prior Beliefs tau, Response Function epsilon, Response Functio
  NaN -0.1299 NaN 0.2524 NaN 0.0291 1 0.6179 NaN 0.3821 -0.353
1 0.1762 -0.0341 0.2775 0.0663 0.3439 0.0076   -0.1003 0.3439 0.1003 -0.0927
2 0.0463 -0.009 0.0729 0.0174 0.0903 0.002   -0.0263 0.0903 0.0263 -0.0243
3 0.0122 -0.0024 0.0191 0.0046 0.0237 0.0005   -0.0069 0.0237 0.0069 -0.0064
4 0.0032 -0.0006 0.005 0.0012 0.0062 0.0001   -0.0018 0.0062 0.0018 -0.0017