plot.bvar_irf function

Plotting method for Bayesian VAR impulse responses

Plotting method for impulse responses obtained from irf.bvar. Impulse responses of all or a subset of the available variables can be plotted.

## S3 method for class 'bvar_irf'
plot(
  x,
  vars_response = NULL,
  vars_impulse = NULL,
  col = "#737373",
  area = FALSE,
  fill = "#808080",
  variables = NULL,
  mar = c(2, 2, 2, 0.5),
  ...
)

Arguments

• x: A bvar_irf object, obtained from irf.bvar.
• vars_impulse, vars_response: Optional numeric or character vector. Used to subset the plot's impulses / responses to certain variables by position or name (must be available). Defaults to NULL, i.e. all variables.
• col: Character vector. Colour(s) of the lines delineating credible intervals. Single values will be recycled if necessary. Recycled HEX color codes are varied in transparency if not provided (e.g. "#737373FF"). Lines can be bypassed by setting this to "transparent".
• area: Logical scalar. Whether to fill the credible intervals using polygon.
• fill: Character vector. Colour(s) to fill the credible intervals with. See col for more information.
• variables: Optional character vector. Names of all variables in the object. Used to subset and title. Taken from x$variables if available.
• mar: Numeric vector. Margins for par.
• ...: Other graphical parameters for par.

Returns

Returns x invisibly.

Examples

# Access a subset of the fred_qd dataset
data <- fred_qd[, c("CPIAUCSL", "UNRATE", "FEDFUNDS")]
# Transform it to be stationary
data <- fred_transform(data, codes = c(5, 5, 1), lag = 4)

# Estimate a BVAR using one lag, default settings and very few draws
x <- bvar(data, lags = 1, n_draw = 1000L, n_burn = 200L, verbose = FALSE)

# Store IRFs ex-post
irf(x) <- irf(x)

# Plot impulse responses for all available variables
plot(irf(x))

# Subset to impulse variables in positions 2 and 3 via their name
plot(irf(x), vars_impulse = c(2, 3))

# Subset via position and increase the plotted IRF horizon
plot(irf(x, horizon = 20), vars_impulse = c("UNRATE", "FED"))

# Adjust confidence bands and subset to one response variables
plot(irf(x, conf_bands = 0.25), vars_response = "CPI")

# Draw areas inbetween the confidence bands and skip drawing lines
plot(irf(x), col = "transparent", area = TRUE)

# Subset to a specific impulse and response
plot(irf(x), vars_response = "CPI", vars_impulse = "FED")

See Also

bvar; irf.bvar