Solid lines are the posterior median estimates from the VAR system estimated with the 2016 vintage of adjusted TFP. The shaded bands correspond to the 16% to 84% posterior coverage intervals. The dash-dotted lines are the posterior median estimates for the system estimated with the 2007 vintage of adjusted TFP. The dashed lines correspond to the 16% to 84% posterior coverage intervals. The impulse responses are identified using the max-share identification.