# GIRF for Asymmetric effects

**URL:** <https://forum.dynare.org/t/girf-for-asymmetric-effects/28198>\
**Category:** General DSGE Modeling\
**Created:** [21 January 2026 10:21 UTC](https://forum.dynare.org/t/girf-for-asymmetric-effects/28198 "2026-01-21T10:21:46Z")\
**Posts on this page:** 3\
**Page:** 1

<div class="post-metadata">

**Author:** ![Gorsi](https://forum.dynare.org/letter_avatar_proxy/v4/letter/g/22d042/32.png) [@Gorsi](https://forum.dynare.org/u/Gorsi)\
**Post date:** [21 January 2026 10:21 UTC](https://forum.dynare.org/t/girf-for-asymmetric-effects/28198/1 "2026-01-21T10:21:47Z")

</div>

Hello,

I was following codes given by Prof. Pfeifer on their website to arrive at asymmetric response of variables to an expansionary and contractionary monetary policy shock using GIRFs but in a two agent model.

I just had a query about the image posted below.

Should the interest rate behavior to an exogenous shock (whether contractionary or expansionary) be same or it varies? While I understand the response of other variables, I am a bit confused about the response of nominal interest rate. But then I also think that this difference in the interest rate is what is causing the asymmetric response of other variables.

I am not sure which way to proceed from here and just wanted to know why the response of interest rate would be different.

If someone could just clear this confusion that would be very helpful.

 ![image](https://forum.dynare.org/uploads/default/original/3X/3/a/3a9ebccbeeb02f09db07af2f897abf824d0af76a.png)

---

<div class="post-metadata">

**Author:** ![jpfeifer](https://forum.dynare.org/user_avatar/forum.dynare.org/jpfeifer/32/5044_2.png) [@jpfeifer](https://forum.dynare.org/u/jpfeifer)\
**Post date:** [21 January 2026 19:21 UTC](https://forum.dynare.org/t/girf-for-asymmetric-effects/28198/2 "2026-01-21T19:21:29Z")

</div>

If there is feedback from other variables like inflation to the interest rate, the response will also be asymmetric.

---

<div class="post-metadata">

**Author:** ![Gorsi](https://forum.dynare.org/letter_avatar_proxy/v4/letter/g/22d042/32.png) [@Gorsi](https://forum.dynare.org/u/Gorsi)\
**Post date:** [22 January 2026 05:24 UTC](https://forum.dynare.org/t/girf-for-asymmetric-effects/28198/3 "2026-01-22T05:24:44Z")

</div>

Ok. Thank you so much.