% empirical studies
% DataExtendedPublic.xlsx provides the data used in the empirical application. BCEI data is not public and
% thus we can not disclose it.
% empiricalmain.m - runs the test for forecast rationality
% empiricalmainreg.m - runs the test of Fed's informational advantage
% FluctuationRationalityRecNW.m is used when testing if all or subset of regression coefficients are equal to zero with HAC consistent 
% variance covariance matrix
% olsWaldtestNW.m constructs a Wald test with Newey-West covariance estimator
% nwest.m conducts an OLS estimation with Newey-West errors