Cumul_mult question

[JeanCarpenter]

Hello,

I have a quick question regarding the cumul_mult argument. I have reviewed the documentation and if TRUE, I understand that it is estimated via y(t+h) − y(t−1).

I have been running a model, which gives me very different IRFs (one >0 and one<0, for the whole horizon) when cumul_mult TRUE/FALSE. Is that possible?

Thank you very much. Kind regards, Jeanette

[AdaemmerP]

Unfortunately, this is too case specific, and I do not have an answer to this question.