From: The limits of internal devaluation: Switzerland during the great depression
Parameter | Prior Dist. | Median | s.d. | 90\(\%\) Bands | NSE |
---|---|---|---|---|---|
\(a_{11}\) | Stationary | 0.91811 | 0.10430 | [ 0.74537 , 1.08219 ] | 0.00586 |
\(a_{21}\) | Stationary | -0.77384 | 0.14996 | [ −1.03986 , −0.54967 ] | 0.01050 |
\(a_{31}\) | Stationary | −0.01105 | 0.00340 | [ −0.01695 , −0.00582 ] | 0.00015 |
\(a_{12}\) | Stationary | 0.25689 | 0.07748 | [ 0.12600 , 0.37911 ] | 0.00337 |
\(a_{22}\) | Stationary | −0.01734 | 0.11253 | [ −0.20049 , 0.17242 ] | 0.00430 |
\(a_{32}\) | Stationary | 0.00086 | 0.00277 | [ −0.00356 , 0.00551 ] | 0.00011 |
\(a_{13}\) | Stationary | −0.00016 | 0.08020 | [ −0.06849 , 0.01915 ] | 0.00494 |
\(a_{23}\) | Stationary | 0.00133 | 0.30604 | [ −0.08974 , 0.35201 ] | 0.02172 |
\(a_{33}\) | Stationary | 0.00001 | 0.00437 | [ −0.00117 , 0.00440 ] | 0.00029 |
\(\sqrt{\text{ VAR }(\kappa _y)}\) | Positive definite | 0.00254 | 0.00335 | [ 0.00202 , 0.00313 ] | 0.00018 |
\(\text{ COV }(\kappa _y,\kappa _{nx})\) | Positive definite | −0.00142 | 0.00032 | [ −0.00195 , −0.00088 ] | 0.00001 |
\(\text{ COV }(\kappa _y,\kappa _{\pi })\) | Positive definite | −0.00002 | 0.00001 | [ −0.00004 , 0.00000 ] | 0.00000 |
\(\sqrt{\text{ VAR }(\kappa _{nx})}\) | Positive definite | 0.00443 | 0.00414 | [ 0.00363 , 0.00545 ] | 0.00011 |
\(\text{ COV }(\kappa _{nx},\kappa _{\pi })\) | Positive definite | 0.00000 | 0.00002 | [ −0.00003 , 0.00003 ] | 0.00000 |
\(\sqrt{\text{ VAR }(\kappa _\pi )}\) | Positive definite | 0.00000 | 0.00020 | [ 0.00000 , 0.00000 ] | 0.00003 |