Sensitivity plot interpretation

Dear Prof Johannes,

Could you please help me explain the plot generated from dynare_sensitivity command as attached. I read your guide about graphics outputs but cannot classify it into ones you mention.

Should I understand for example in the attached plot for g_cp vs eps_a: parameter hab has the strongest effect while phi is very weak w.r.t g_cp in response to eps_a!? Is it right?

Many thanks!


@rattoma You added those graphs in Dynare 4.5. What do they show?

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Yes, you are right. g_cp in response to eps_a will change the most if you move hab, w.r.t. if you move phi

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