2 papers
econ.EM2026
What Impulse Response Do Instrumental Variables Identify?
Bonsoo Koo, Seojeong Lee, Myung Hwan Seo +1
The local projection-instrumental variable (LP-IV) literature has been largely silent on cases in which impulse responses are set-identified, arising when the shock of interest is…
stat.ME2025
Disentangling Structural Breaks in Factor Models for Macroeconomic Data
Bonsoo Koo, Benjamin Wong, Ze-Yu Zhong
We develop a projection-based decomposition to disentangle structural breaks in the factor variance and factor loadings. Our approach yields test statistics that can be compared ag…