Structural VAR

Structural VAR, released by Anders Warne, is currently one of the most robust tools in the Science Tools subcategory of the Education domain. This freeware program, with a file size of 10.1 MB, aims to offer comprehensive support for estimating VAR models using diverse approaches. The latest version, 0.45.2, continues to build on its predecessors, including the older 0.4 version, by integrating advanced methodological capabilities.

Designed to be compatible with Windows XP, 7, and 8 operating systems, Structural VAR facilitates the estimation of both structural and reduced form VAR models. Users seeking to optimize their analyses can download the program file, svar.exe, which offers classical Maximum Likelihood estimation and Bayesian methods. Another notable feature is the flexibility for both long-run and contemporaneous identifying restrictions, with or without cointegration restrictions.

Developed by Anders Warne, the program stands out by including bootstrapping for most test statistics and estimated parameters within the classical approach, as an alternative to relying solely on asymptotic theory. Those interested in science tools for education and involved in advanced econometric analysis will find this tool particularly beneficial.

Pros

• Free to use, making it accessible to a broader audience.
• Considerable flexibility in supporting both classical and Bayesian modeling approaches.
• Bootstrapping alternatives for deeper analytical robustness.
• User-friendly for those running Windows XP/7/8.

Cons

• Limited to Windows OS, which might exclude Mac and Linux users.
• Advanced features could have a steep learning curve for beginners.

You may want to check out more software, such as Tekla Structures Model Reviewer, ATR 72-500 Varig ISDT FS2004 or Revit Structure, which might be related to Structural VAR.