I have two questions related to the impulse response functions of VEC models. (1) How many draws are conducted when bootstrapping the confidence intervals and how can their value be modified? (2) I want to calculate the percentage responses to a 1 percent change in a specific shock variable (which comes first in the Cholesky ordering). Since all variables enter the model in natural logs, I divided the default impulse responses by one standard error (SE) of the logged shock variable to achieve this. Looking at the summary statistics and calculating one SE as <one standard deviation> / <square root of no. of observations> gives me something different from the value of the logged shock variable in period 1, however. Since I presume this is the contemporaneous/instantaneous impact (corresponding to period 0 in the graphs), I would expect both values to be the same, since the variable should respond by exactly one SE when itself is shocked by one SE. What am I doing wrong? Thank you for your help. Thomas _______________________________________________ Gretl-users mailing list Gretl-users(a)lists.wfu.edu http://lists.wfu.edu/mailman/listinfo/gretl-users