Fig. 5
From: Bayesian analysis of time-varying interactions between stock returns and foreign equity flows
Time-varying impulse responses of NEF. a) The historical impulse response functions of net flows b) The contemporaneous response of net flows c) Time-varying response of net flows to return shocks at specific horizons d) Time-varying response of returns to return shocks at specific horizons. These results are from the estimation of TVP-VAR-SV with ordering the variables as follows: \(\left\{EPU,R,NEF\right\}\)