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∗ ## Causality tests∗ ## Granger and instantaneous causality∗ var.causal <- causality(varsimest, cause = "y2")
Forecasting ∗ ## Forecasting objects of class varest ∗ args(vars:::predict.varest) ∗ predictions <- predict(varsimest, n.ahead = 25, ∗ ci = 0.95) ∗ class(predictions) ∗ args(vars:::plot.varprd) ∗ ## Plot of predictions for y1 ∗ plot(predictions, names = "y1") ∗ ## Fanchart for y2 ∗ args(fanchart) ∗ fanchart(predictions, names = "y2")
Impulse Response Function∗ Causality test falls short of quantifying the impact of the impulse variable on the response variable over time.∗ The impulse response analysis is used to investigate these kinds of dynamic interactions between the endogenous variables and is based upon the Wold moving average representation of a VAR(p)-process.