Comparing SVARs and SEMs: two models of the UK economy
对比了结构向量自回归（SVAR）和联立方程宏观计量模型（SEM）两种实证宏观建模方法，以英国经济的两个模型为例，并比较了脉冲响应分析，帮助读者理解两种模型的差异与适用场景。
Abstract The structural vector autoregression (SVAR) and simultaneous equation macroeconometric model (SEM) styles of empirical macroeconomic modelling are compared and contrasted, with reference to two models of the UK economy, namely the long‐run structural VAR model of Garratt, Lee, Pesaran and Shin and the COMPACT model. Various styles of impulse response analysis are also compared and contrasted, and used to illustrate model properties. A ‘reverse engineering’ procedure is used to infer long‐run relations of COMPACT comparable to the GLPS cointegrating relations. Copyright © 2005 John Wiley & Sons, Ltd.