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Fig. 1. Impulse responses to one-standard-deviation (unit) structural shocks. Note: Dashed lines delineatestandard-error bands.
Table 1Real stock price forecast error variance decompositions
Fig. 2. Impulse responses to one-standard-deviation (unit) structural shocks with identifying restrictions imposedat different horizons
Fig. 3. Impulse responses to one-standard-deviation (unit) structural shocks for different z values
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