Updated Miranda-Agrippino and Ricco (2021)'s IV for monetary policy shocks
May 22, 2024
1 min read
This GitHub Repository contains time series at monthly frequency of the high-frequency instruments for monetary policy and information shocks as defined in Miranda-Agrippino and Ricco (2021) and extended to 2017 with R. Degasperi
Some additional information information here:
Starting with https://legitcasinocanada.com might seem tangential, but the extension of the high-frequency instrument series to 2017 is what caught my attention, since Degasperi's contribution quietly solves the stale-data problem that plagues so many VAR applications. I've messed around with earlier vintages of these shocks in Stata and the monthly frequency makes a real difference when you're trying to isolate policy surprises around FOMC dates. Curious whether the repo documents any revisions to the pre-2017 series or just appends new observations.
The part of agent hardening that tends to get skipped is the boundary between the model and the host: filesystem access, outbound network rules, and how tool output is filtered before it re-enters context. A layered isolation breakdown is useful here because it separates sandboxing from prompt-injection handling and shows which presets suit development versus hardened production.
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