% This package provide the data used in both first and second
% stage estimation and the codes of the second stage covariate selection
% exercise used in "The Local Effects of Monetary Policy" by Neville
% Francis, Michael Owyang, and Tatevik Sekhposyan

% DATA
% MSAempag.xls - data used in the first stage SVAR estimation
% MSAdef.xlsx - definition of cities used for plotting and clusterin
% MSAcovariate90.xls - various covariates used for the second stage estimation

% CODES
% We do not include the VAR codes in this package, since they are computationally 
% intensive and would require some special adjustments. The codes are available 
% upon request.

% irfmodecovsel.m - main file for the covariate selection based on a modal impulse
%                   response
% irfrobustcovsel.m - main file for the covariate selection based on a distribution
%                     of impulse responses
% covselection.m - implements the MC3 algorithm
%
% makeIR.m - generates impulse responses based on parameter distributions
% cluster.m - clusters the impulse responses based on k-means algorithm
%
% plotfigurestables.m, plotIR.m, and plotIRAG.m - generate tables and figures 
