Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/66204
Authors: 
Offick, Sven
Wohltmann, Hans-Werner
Year of Publication: 
2012
Series/Report no.: 
Economics Working Paper, Christian-Albrechts-Universität Kiel, Department of Economics 2012-13
Abstract: 
In a recent paper, Mertens and Ravn (2010) study the effects of anticipated fiscal policy shocks in a structural vector autoregressive model. The authors maintain that (i) the lag polynomial associated with news shocks is a cyclotomic polynomial and (ii) the matrix B(L) which transforms a nonfundamental MA representation into a fundamental one is a Blaschke matrix. Though the results in Mertens and Ravn (2010) are correct, we find that the terms 'cyclotomic' and 'Blaschke matrix' are misused.
Subjects: 
Nonfundamentalness
Cyclotomic polynomial
Blaschke matrix
JEL: 
C32
E32
Document Type: 
Working Paper

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