{
  "record_id": "irf_v64_uk_housing_25_my",
  "model": {
    "name": "global_macro",
    "engine": "global_macro_v64",
    "contract": "v6.4"
  },
  "question": "UK housing -25%",
  "shock": {
    "id": "uk_housing_25",
    "spec": {
      "housing": {
        "UK": -0.25
      }
    },
    "units": {
      "housing": "fraction"
    },
    "held_fixed": {
      "oil": 80.0,
      "metals": 0.0,
      "risk_premium": 0.0,
      "vix": 15.0,
      "fiscal": {},
      "tfp": {},
      "bank_equity": {},
      "equity": {},
      "sovereign_spread": {},
      "bilateral_tariffs": []
    }
  },
  "country": {
    "iso2": "MY",
    "name": "Malaysia"
  },
  "horizon": {
    "freq": "Q",
    "n": 20
  },
  "series": {
    "Y": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -2e-06,
        -0.001669,
        -0.004211,
        -0.007642,
        -0.01159,
        -0.015583,
        -0.019192,
        -0.022113,
        -0.024184,
        -0.025405,
        -0.026039,
        -0.026157,
        -0.025848,
        -0.025214,
        -0.024355,
        -0.023366,
        -0.022328,
        -0.021311,
        -0.020371,
        -0.019546
      ]
    },
    "C": {
      "unit": "pct_dev_from_baseline",
      "path": [
        6.9e-05,
        -0.000815,
        -0.002361,
        -0.00456,
        -0.007218,
        -0.010048,
        -0.012757,
        -0.015108,
        -0.016949,
        -0.018232,
        -0.019075,
        -0.019526,
        -0.01964,
        -0.01948,
        -0.019114,
        -0.018605,
        -0.018014,
        -0.017393,
        -0.016788,
        -0.016231
      ]
    },
    "pi_cpi": {
      "unit": "pp_dev",
      "path": [
        -0.001459,
        -0.001468,
        -0.001948,
        -0.002652,
        -0.003424,
        -0.004142,
        -0.004709,
        -0.005065,
        -0.005184,
        -0.005077,
        -0.004798,
        -0.00441,
        -0.003957,
        -0.003474,
        -0.00299,
        -0.002527,
        -0.002096,
        -0.001709,
        -0.001372,
        -0.001091
      ]
    },
    "i": {
      "unit": "pp_dev",
      "path": [
        -0.000525,
        -0.001178,
        -0.002174,
        -0.003605,
        -0.005462,
        -0.00765,
        -0.010018,
        -0.01239,
        -0.014595,
        -0.016493,
        -0.018012,
        -0.019126,
        -0.019838,
        -0.020178,
        -0.020186,
        -0.019918,
        -0.019428,
        -0.018773,
        -0.01801,
        -0.017187
      ]
    },
    "RER": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.004421,
        -0.004237,
        -0.003685,
        -0.002944,
        -0.002206,
        -0.001647,
        -0.0014,
        -0.001533,
        -0.00205,
        -0.002871,
        -0.003764,
        -0.004617,
        -0.005353,
        -0.005912,
        -0.006255,
        -0.006356,
        -0.006184,
        -0.005725,
        -0.004978,
        -0.003955
      ]
    },
    "P_H": {
      "unit": "pct_dev_from_baseline",
      "path": [
        1.2e-05,
        -0.000263,
        -0.000955,
        -0.002184,
        -0.003997,
        -0.006354,
        -0.009141,
        -0.012204,
        -0.015375,
        -0.018497,
        -0.021479,
        -0.024244,
        -0.026742,
        -0.02894,
        -0.030826,
        -0.032406,
        -0.033697,
        -0.034727,
        -0.035531,
        -0.036146
      ]
    },
    "Q_B": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.002188,
        0.00491,
        0.009059,
        0.015022,
        0.022758,
        0.031874,
        0.041741,
        0.051625,
        0.060812,
        0.068721,
        0.075052,
        0.079691,
        0.08266,
        0.084073,
        0.084109,
        0.08299,
        0.080949,
        0.078223,
        0.075041,
        0.071614
      ]
    },
    "equity": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -2.2e-05,
        -0.004222,
        -0.010242,
        -0.017994,
        -0.026473,
        -0.034506,
        -0.041127,
        -0.045735,
        -0.048116,
        -0.048451,
        -0.047548,
        -0.045644,
        -0.043001,
        -0.039883,
        -0.036534,
        -0.033166,
        -0.029951,
        -0.027021,
        -0.024469,
        -0.02235
      ]
    },
    "y2": {
      "unit": "pp_dev",
      "path": [
        -0.005375,
        -0.007134,
        -0.009048,
        -0.011028,
        -0.012968,
        -0.014765,
        -0.016331,
        -0.017602,
        -0.018543,
        -0.019147,
        -0.019432,
        -0.019432,
        -0.01919,
        -0.018754,
        -0.018173,
        -0.017493,
        -0.016755,
        -0.015992,
        -0.015232,
        -0.014496
      ]
    },
    "y5": {
      "unit": "pp_dev",
      "path": [
        -0.013237,
        -0.014029,
        -0.014746,
        -0.015375,
        -0.015895,
        -0.016288,
        -0.016541,
        -0.016646,
        -0.016604,
        -0.016425,
        -0.016124,
        -0.015724,
        -0.015248,
        -0.014719,
        -0.014158,
        -0.013587,
        -0.013022,
        -0.012478,
        -0.011964,
        -0.011489
      ]
    },
    "y10": {
      "unit": "pp_dev",
      "path": [
        -0.012148,
        -0.012351,
        -0.01254,
        -0.012707,
        -0.012841,
        -0.012932,
        -0.012972,
        -0.012955,
        -0.012883,
        -0.012758,
        -0.012588,
        -0.012383,
        -0.012153,
        -0.011906,
        -0.011653,
        -0.011401,
        -0.011157,
        -0.010927,
        -0.010714,
        -0.010521
      ]
    },
    "N": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.0,
        -0.000359,
        -0.001201,
        -0.002638,
        -0.004679,
        -0.007234,
        -0.010137,
        -0.013186,
        -0.016179,
        -0.018947,
        -0.021409,
        -0.02351,
        -0.025221,
        -0.026541,
        -0.027487,
        -0.028095,
        -0.02841,
        -0.028484,
        -0.028372,
        -0.028126
      ]
    },
    "w": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.0,
        -0.000186,
        -0.000567,
        -0.001222,
        -0.002253,
        -0.003756,
        -0.005805,
        -0.008433,
        -0.011629,
        -0.015341,
        -0.019483,
        -0.023949,
        -0.028626,
        -0.033398,
        -0.038157,
        -0.042806,
        -0.04726,
        -0.051453,
        -0.055331,
        -0.058859
      ]
    },
    "I": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.000782,
        -0.004526,
        -0.010957,
        -0.019222,
        -0.027921,
        -0.035769,
        -0.041849,
        -0.045701,
        -0.047275,
        -0.046943,
        -0.045811,
        -0.043918,
        -0.041533,
        -0.038904,
        -0.036246,
        -0.033735,
        -0.031505,
        -0.029651,
        -0.028228,
        -0.027258
      ]
    },
    "K": {
      "unit": "pct_dev_from_baseline",
      "path": [
        4e-06,
        -1.9e-05,
        -7.4e-05,
        -0.00017,
        -0.000309,
        -0.000488,
        -0.000697,
        -0.000926,
        -0.001162,
        -0.001397,
        -0.001626,
        -0.001846,
        -0.002053,
        -0.002248,
        -0.002429,
        -0.002598,
        -0.002755,
        -0.002903,
        -0.003045,
        -0.003181
      ]
    },
    "Q": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.000547,
        -0.003168,
        -0.00767,
        -0.013456,
        -0.019545,
        -0.025038,
        -0.029295,
        -0.031991,
        -0.033093,
        -0.03286,
        -0.032068,
        -0.030743,
        -0.029073,
        -0.027233,
        -0.025372,
        -0.023614,
        -0.022054,
        -0.020756,
        -0.01976,
        -0.01908
      ]
    },
    "G": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.0,
        0.000143,
        0.000345,
        0.00063,
        0.000958,
        0.001274,
        0.001534,
        0.001706,
        0.001782,
        0.001766,
        0.001695,
        0.001573,
        0.001411,
        0.001219,
        0.00101,
        0.000793,
        0.000578,
        0.00037,
        0.000176,
        -1e-06
      ]
    },
    "B": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.0,
        -0.00029,
        -0.001013,
        -0.002307,
        -0.004245,
        -0.006812,
        -0.009921,
        -0.013435,
        -0.017195,
        -0.021045,
        -0.024881,
        -0.028616,
        -0.032177,
        -0.035515,
        -0.038597,
        -0.041408,
        -0.043946,
        -0.046224,
        -0.048261,
        -0.050085
      ]
    },
    "NX": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.001326,
        -0.001948,
        -0.002928,
        -0.004163,
        -0.005624,
        -0.007271,
        -0.009037,
        -0.01084,
        -0.012592,
        -0.01422,
        -0.015672,
        -0.016946,
        -0.018039,
        -0.018956,
        -0.019706,
        -0.020301,
        -0.020756,
        -0.021085,
        -0.021309,
        -0.021445
      ]
    },
    "pi": {
      "unit": "pp_dev",
      "path": [
        -0.001021,
        -0.001028,
        -0.001364,
        -0.001856,
        -0.002397,
        -0.002899,
        -0.003297,
        -0.003546,
        -0.003629,
        -0.003554,
        -0.003359,
        -0.003087,
        -0.00277,
        -0.002432,
        -0.002093,
        -0.001769,
        -0.001467,
        -0.001196,
        -0.00096,
        -0.000763
      ]
    },
    "mc": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -1e-06,
        -0.000994,
        -0.002507,
        -0.004549,
        -0.006899,
        -0.009275,
        -0.011421,
        -0.013156,
        -0.014383,
        -0.015103,
        -0.015474,
        -0.015536,
        -0.015345,
        -0.01496,
        -0.014441,
        -0.013844,
        -0.013219,
        -0.012607,
        -0.01204,
        -0.011543
      ]
    },
    "unemployment": {
      "unit": "pp_dev",
      "path": [
        0.0,
        0.000114,
        0.00037,
        0.000791,
        0.001367,
        0.002059,
        0.002809,
        0.003554,
        0.004238,
        0.004819,
        0.005285,
        0.005633,
        0.005865,
        0.005991,
        0.006023,
        0.00598,
        0.005877,
        0.005733,
        0.005564,
        0.005385
      ]
    },
    "credit_supply": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.0,
        -0.000454,
        -0.001276,
        -0.002406,
        -0.00379,
        -0.005371,
        -0.00709,
        -0.008884,
        -0.010698,
        -0.012484,
        -0.014212,
        -0.015858,
        -0.017406,
        -0.018847,
        -0.020176,
        -0.021392,
        -0.022498,
        -0.0235,
        -0.024404,
        -0.02522
      ]
    },
    "lending_spread": {
      "unit": "pp_dev",
      "path": [
        0.0,
        6e-06,
        1.7e-05,
        3.2e-05,
        5.1e-05,
        7.2e-05,
        9.5e-05,
        0.000119,
        0.000143,
        0.000167,
        0.00019,
        0.000212,
        0.000233,
        0.000252,
        0.00027,
        0.000286,
        0.000301,
        0.000314,
        0.000326,
        0.000337
      ]
    },
    "gdp_services": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -1e-06,
        -0.000955,
        -0.002409,
        -0.004371,
        -0.00663,
        -0.008913,
        -0.010978,
        -0.012649,
        -0.013833,
        -0.014532,
        -0.014894,
        -0.014962,
        -0.014785,
        -0.014422,
        -0.013931,
        -0.013365,
        -0.012772,
        -0.01219,
        -0.011652,
        -0.01118
      ]
    },
    "gdp_manufacturing": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.001326,
        0.001152,
        0.000847,
        0.000404,
        -7e-05,
        -0.000455,
        -0.000658,
        -0.00063,
        -0.000366,
        9.2e-05,
        0.000626,
        0.0012,
        0.001778,
        0.00233,
        0.00283,
        0.003257,
        0.003592,
        0.003824,
        0.003946,
        0.00396
      ]
    },
    "r": {
      "unit": "pp_dev",
      "path": [
        -0.000131,
        -0.000295,
        -0.000544,
        -0.000901,
        -0.001365,
        -0.001912,
        -0.002504,
        -0.003097,
        -0.003649,
        -0.004123,
        -0.004503,
        -0.004781,
        -0.00496,
        -0.005044,
        -0.005047,
        -0.004979,
        -0.004857,
        -0.004693,
        -0.004502,
        -0.004297
      ]
    },
    "bank_equity": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.0,
        -0.000572,
        -0.001605,
        -0.003027,
        -0.004768,
        -0.006757,
        -0.008918,
        -0.011175,
        -0.013457,
        -0.015703,
        -0.017876,
        -0.019947,
        -0.021895,
        -0.023708,
        -0.025379,
        -0.026908,
        -0.028299,
        -0.029559,
        -0.030697,
        -0.031723
      ]
    },
    "vix": {
      "unit": "index_level",
      "path": [
        15.000017,
        15.006465,
        15.021926,
        15.046004,
        15.075113,
        15.105068,
        15.132293,
        15.15433,
        15.169911,
        15.179006,
        15.18336,
        15.183458,
        15.179936,
        15.173504,
        15.164877,
        15.15473,
        15.143668,
        15.132218,
        15.120813,
        15.109772
      ]
    },
    "y3m": {
      "unit": "pp_dev",
      "path": [
        -0.000525,
        -0.001178,
        -0.002174,
        -0.003605,
        -0.005462,
        -0.00765,
        -0.010018,
        -0.01239,
        -0.014595,
        -0.016493,
        -0.018012,
        -0.019126,
        -0.019838,
        -0.020178,
        -0.020186,
        -0.019918,
        -0.019428,
        -0.018773,
        -0.01801,
        -0.017187
      ]
    },
    "y30": {
      "unit": "pp_dev",
      "path": [
        -0.010679,
        -0.010756,
        -0.010828,
        -0.010891,
        -0.010943,
        -0.010979,
        -0.010996,
        -0.010994,
        -0.010972,
        -0.010932,
        -0.010876,
        -0.010807,
        -0.010729,
        -0.010645,
        -0.010558,
        -0.010471,
        -0.010386,
        -0.010305,
        -0.01023,
        -0.010161
      ]
    },
    "Q_B_3m": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.000131,
        0.000295,
        0.000544,
        0.000901,
        0.001365,
        0.001912,
        0.002504,
        0.003097,
        0.003649,
        0.004123,
        0.004503,
        0.004781,
        0.00496,
        0.005044,
        0.005047,
        0.004979,
        0.004857,
        0.004693,
        0.004502,
        0.004297
      ]
    },
    "Q_B_2y": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.010213,
        0.013555,
        0.017192,
        0.020953,
        0.02464,
        0.028054,
        0.031029,
        0.033444,
        0.035232,
        0.03638,
        0.036922,
        0.036921,
        0.036461,
        0.035632,
        0.034529,
        0.033237,
        0.031834,
        0.030384,
        0.028941,
        0.027541
      ]
    },
    "Q_B_5y": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.059568,
        0.063129,
        0.066358,
        0.069187,
        0.071528,
        0.073297,
        0.074432,
        0.074905,
        0.074717,
        0.07391,
        0.072559,
        0.07076,
        0.068616,
        0.066234,
        0.063713,
        0.061142,
        0.0586,
        0.056149,
        0.053838,
        0.051701
      ]
    },
    "Q_B_10y": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.09961,
        0.101274,
        0.102824,
        0.104194,
        0.105295,
        0.106043,
        0.106368,
        0.106234,
        0.105639,
        0.104616,
        0.103225,
        0.101543,
        0.099652,
        0.097631,
        0.095555,
        0.09349,
        0.091491,
        0.089602,
        0.087855,
        0.086272
      ]
    },
    "Q_B_30y": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.192221,
        0.19361,
        0.194901,
        0.196042,
        0.196967,
        0.197613,
        0.197931,
        0.197893,
        0.197499,
        0.196773,
        0.195763,
        0.194524,
        0.193117,
        0.191604,
        0.190039,
        0.188473,
        0.186946,
        0.185493,
        0.184138,
        0.182897
      ]
    },
    "NEER": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.003549,
        0.002041,
        0.000237,
        -0.001698,
        -0.00358,
        -0.00524,
        -0.006558,
        -0.007485,
        -0.008038,
        -0.008321,
        -0.008633,
        -0.009085,
        -0.009755,
        -0.010698,
        -0.01195,
        -0.013533,
        -0.015472,
        -0.017774,
        -0.020431,
        -0.023419
      ]
    },
    "USD": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.011015,
        -0.009018,
        -0.008639,
        -0.009839,
        -0.012718,
        -0.017324,
        -0.023527,
        -0.030989,
        -0.039193,
        -0.047417,
        -0.054416,
        -0.059753,
        -0.06311,
        -0.064283,
        -0.063171,
        -0.059767,
        -0.054107,
        -0.046291,
        -0.036473,
        -0.024878
      ]
    },
    "P_energy": {
      "unit": "USD/bbl (level)",
      "path": [
        80.0,
        79.987556,
        79.967133,
        79.940694,
        79.910222,
        79.87805,
        79.846557,
        79.817785,
        79.793196,
        79.773423,
        79.757575,
        79.745062,
        79.735369,
        79.727987,
        79.722408,
        79.71813,
        79.714689,
        79.711664,
        79.708695,
        79.705493
      ]
    },
    "P_metals": {
      "unit": "index (level)",
      "path": [
        100.0,
        99.993722,
        99.9823,
        99.966094,
        99.946213,
        99.924435,
        99.902753,
        99.882937,
        99.866279,
        99.853389,
        99.843765,
        99.837022,
        99.832777,
        99.830616,
        99.830108,
        99.830827,
        99.832372,
        99.834382,
        99.836547,
        99.838613
      ]
    },
    "P_food": {
      "unit": "index (level)",
      "path": [
        100.0,
        99.986976,
        99.965729,
        99.93838,
        99.906832,
        99.873239,
        99.839827,
        99.808577,
        99.780996,
        99.757848,
        99.738424,
        99.722261,
        99.70894,
        99.698014,
        99.689012,
        99.681449,
        99.674855,
        99.668796,
        99.662885,
        99.656802
      ]
    },
    "P_gas": {
      "unit": "USD/mmBtu (level)",
      "path": [
        4.0,
        3.999083,
        3.997589,
        3.995669,
        3.993466,
        3.991147,
        3.988877,
        3.986799,
        3.985016,
        3.983571,
        3.9824,
        3.981461,
        3.980717,
        3.980134,
        3.979677,
        3.97931,
        3.979003,
        3.978726,
        3.978454,
        3.978167
      ]
    },
    "P_copper": {
      "unit": "index (level)",
      "path": [
        100.0,
        99.998721,
        99.994749,
        99.98728,
        99.976711,
        99.964263,
        99.951458,
        99.939701,
        99.930037,
        99.923014,
        99.918475,
        99.916234,
        99.916042,
        99.917597,
        99.920571,
        99.924628,
        99.929452,
        99.934756,
        99.940289,
        99.945845
      ]
    },
    "P_wheat": {
      "unit": "index (level)",
      "path": [
        100.0,
        99.990061,
        99.974793,
        99.956263,
        99.935944,
        99.915212,
        99.895343,
        99.877388,
        99.862072,
        99.849653,
        99.839423,
        99.830948,
        99.823892,
        99.817945,
        99.812809,
        99.808198,
        99.803848,
        99.799527,
        99.795038,
        99.790226
      ]
    },
    "P_gold": {
      "unit": "USD/oz (level)",
      "path": [
        2000.054157,
        2000.397429,
        2001.269827,
        2002.662368,
        2004.387181,
        2006.214195,
        2007.937647,
        2009.406371,
        2010.53147,
        2011.291464,
        2011.763099,
        2011.964458,
        2011.925277,
        2011.681934,
        2011.273471,
        2010.738647,
        2010.113714,
        2009.431592,
        2008.72076,
        2008.003904
      ]
    }
  },
  "summary": {
    "GDP_peak_pct": -0.0262,
    "GDP_peak_quarter": 12,
    "CPI_3yr_pp": -0.0443,
    "CPI_3yr_definition": "sum of quarterly pi_cpi IRF over Q1\u2013Q12",
    "equity_peak_pct": -0.0485,
    "equity_peak_quarter": 10
  },
  "qa_checks": {
    "json_matches_peaks": true,
    "complete_q1_q20": true,
    "no_nan": true,
    "rer_sign": "increase=real_depreciation",
    "ok": true,
    "reasons": []
  }
}