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(ii) VAR\u2010based structural identification\u2014including short\u2010run, long\u2010run, or sign restrictions\u2014can equivalently be performed using LPs, and vice versa. (iii) Structural estimation with an instrument (proxy) can be carried out by ordering the instrument first in a recursive VAR, even under noninvertibility. (iv) Linear VARs are as robust to nonlinearities as linear LPs.<\/jats:p>","DOI":"10.3982\/ecta17813","type":"journal-article","created":{"date-parts":[[2021,3,15]],"date-time":"2021-03-15T05:42:01Z","timestamp":1615786921000},"page":"955-980","source":"Crossref","is-referenced-by-count":653,"title":["Local Projections and VARs Estimate the Same Impulse Responses"],"prefix":"10.3982","volume":"89","author":[{"given":"Mikkel","family":"Plagborg-M\u00f8ller","sequence":"first","affiliation":[{"name":"Department of Economics, Princeton University"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Christian K.","family":"Wolf","sequence":"additional","affiliation":[{"name":"Becker Friedman Institute, University of Chicago"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"2359","published-online":{"date-parts":[[2021]]},"reference":[{"key":"ecta200262-bib-0001","unstructured":"Alloza, M., J. Gonzalo, and C. 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