{
  "record_id": "irf_v64_vix_80_br",
  "model": {
    "name": "global_macro",
    "engine": "global_macro_v64",
    "contract": "v6.4"
  },
  "question": "VIX 80",
  "shock": {
    "id": "vix_80",
    "spec": {
      "vix": 80.0
    },
    "units": {
      "vix": "index_level"
    },
    "held_fixed": {
      "oil": 80.0,
      "metals": 0.0,
      "risk_premium": 0.0,
      "housing": {},
      "fiscal": {},
      "tfp": {},
      "bank_equity": {},
      "equity": {},
      "sovereign_spread": {},
      "bilateral_tariffs": []
    }
  },
  "country": {
    "iso2": "BR",
    "name": "Brazil"
  },
  "horizon": {
    "freq": "Q",
    "n": 20
  },
  "series": {
    "Y": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -1.874123,
        -1.508374,
        -1.202029,
        -0.932355,
        -0.687049,
        -0.564132,
        -0.422222,
        -0.269887,
        -0.121877,
        -0.002473,
        0.087268,
        0.148611,
        0.18415,
        0.197273,
        0.192039,
        0.173044,
        0.144289,
        0.114802,
        0.082219,
        0.04906
      ]
    },
    "C": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -2.758479,
        -2.226452,
        -1.755368,
        -1.363735,
        -1.04018,
        -0.814669,
        -0.622711,
        -0.453553,
        -0.305744,
        -0.18552,
        -0.091616,
        -0.021668,
        0.027118,
        0.057693,
        0.073149,
        0.076714,
        0.071273,
        0.061749,
        0.048421,
        0.032969
      ]
    },
    "pi_cpi": {
      "unit": "pp_dev",
      "path": [
        -0.118889,
        -0.147225,
        -0.130684,
        -0.099868,
        -0.067567,
        -0.045185,
        -0.027822,
        -0.01263,
        0.000961,
        0.011996,
        0.020045,
        0.025149,
        0.027619,
        0.027905,
        0.026473,
        0.023726,
        0.020121,
        0.016408,
        0.012672,
        0.009033
      ]
    },
    "i": {
      "unit": "pp_dev",
      "path": [
        -0.301746,
        -0.575025,
        -0.726043,
        -0.758081,
        -0.702653,
        -0.609879,
        -0.501749,
        -0.387571,
        -0.272902,
        -0.16426,
        -0.067291,
        0.014152,
        0.078123,
        0.124313,
        0.153653,
        0.167899,
        0.169366,
        0.161523,
        0.146992,
        0.127936
      ]
    },
    "RER": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.609547,
        0.778724,
        0.840086,
        0.852229,
        0.838292,
        0.842098,
        0.834663,
        0.810964,
        0.772592,
        0.726783,
        0.678308,
        0.630016,
        0.583873,
        0.541604,
        0.504156,
        0.470848,
        0.441792,
        0.415271,
        0.391899,
        0.371588
      ]
    },
    "P_H": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.272709,
        -0.464537,
        -0.593254,
        -0.671816,
        -0.709602,
        -0.728715,
        -0.727998,
        -0.707431,
        -0.669065,
        -0.618276,
        -0.560078,
        -0.498848,
        -0.438216,
        -0.381045,
        -0.329414,
        -0.284611,
        -0.247296,
        -0.216817,
        -0.192991,
        -0.175321
      ]
    },
    "Q_B": {
      "unit": "pct_dev_from_baseline",
      "path": [
        1.257277,
        2.395936,
        3.02518,
        3.15867,
        2.927721,
        2.541162,
        2.090621,
        1.614881,
        1.137093,
        0.684415,
        0.280381,
        -0.058967,
        -0.325513,
        -0.517972,
        -0.640222,
        -0.699578,
        -0.705692,
        -0.673011,
        -0.612468,
        -0.533066
      ]
    },
    "equity": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -3.628985,
        -2.793155,
        -2.123829,
        -1.573224,
        -1.104434,
        -0.894139,
        -0.651545,
        -0.390385,
        -0.138077,
        0.05932,
        0.201849,
        0.293497,
        0.340188,
        0.348807,
        0.327116,
        0.283635,
        0.225484,
        0.16939,
        0.109641,
        0.05046
      ]
    },
    "y2": {
      "unit": "pp_dev",
      "path": [
        -0.570343,
        -0.566738,
        -0.515392,
        -0.433048,
        -0.336519,
        -0.238922,
        -0.147148,
        -0.065223,
        0.004211,
        0.059494,
        0.100217,
        0.127003,
        0.141226,
        0.144734,
        0.139608,
        0.127969,
        0.111841,
        0.093045,
        0.073029,
        0.05294
      ]
    },
    "y5": {
      "unit": "pp_dev",
      "path": [
        -0.196162,
        -0.175765,
        -0.142849,
        -0.103519,
        -0.063672,
        -0.027589,
        0.002975,
        0.027376,
        0.04544,
        0.057264,
        0.063266,
        0.064131,
        0.060726,
        0.053999,
        0.044901,
        0.034323,
        0.023056,
        0.011767,
        0.000938,
        -0.009085
      ]
    },
    "y10": {
      "unit": "pp_dev",
      "path": [
        -0.107116,
        -0.100822,
        -0.087654,
        -0.070669,
        -0.052844,
        -0.036368,
        -0.022177,
        -0.010657,
        -0.001963,
        0.003893,
        0.007059,
        0.007825,
        0.006579,
        0.003756,
        -0.000199,
        -0.004866,
        -0.009868,
        -0.014886,
        -0.019688,
        -0.024106
      ]
    },
    "N": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.315743,
        -0.521718,
        -0.644038,
        -0.701159,
        -0.706759,
        -0.689023,
        -0.64838,
        -0.586557,
        -0.507464,
        -0.418511,
        -0.326234,
        -0.236029,
        -0.152091,
        -0.077452,
        -0.014027,
        0.03732,
        0.076529,
        0.105083,
        0.123874,
        0.134105
      ]
    },
    "w": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.028477,
        -0.093611,
        -0.190318,
        -0.308056,
        -0.435601,
        -0.564484,
        -0.68823,
        -0.801627,
        -0.900465,
        -0.981765,
        -1.043834,
        -1.08619,
        -1.109399,
        -1.114858,
        -1.104571,
        -1.080927,
        -1.046516,
        -1.003874,
        -0.955398,
        -0.903276
      ]
    },
    "I": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -9.986376,
        -7.240493,
        -5.444785,
        -4.047911,
        -2.952843,
        -2.447592,
        -1.847597,
        -1.298973,
        -0.829436,
        -0.497285,
        -0.266099,
        -0.117984,
        -0.0363,
        -0.006129,
        -0.013406,
        -0.044574,
        -0.090219,
        -0.123397,
        -0.164502,
        -0.203585
      ]
    },
    "K": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.023932,
        -0.038847,
        -0.048643,
        -0.054613,
        -0.057695,
        -0.060368,
        -0.061775,
        -0.061858,
        -0.060756,
        -0.058945,
        -0.056757,
        -0.054466,
        -0.052289,
        -0.050388,
        -0.048874,
        -0.047803,
        -0.047194,
        -0.046943,
        -0.047055,
        -0.047491
      ]
    },
    "Q": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -3.350463,
        -2.088165,
        -1.371385,
        -0.835863,
        -0.431433,
        -0.374234,
        -0.196971,
        -0.011668,
        0.154298,
        0.253589,
        0.306351,
        0.320735,
        0.304803,
        0.266066,
        0.211965,
        0.150023,
        0.085221,
        0.035101,
        -0.015693,
        -0.06108
      ]
    },
    "G": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.353299,
        0.261339,
        0.195585,
        0.14339,
        0.098604,
        0.077883,
        0.052729,
        0.02555,
        -0.00054,
        -0.020821,
        -0.035365,
        -0.044568,
        -0.049013,
        -0.049395,
        -0.046519,
        -0.041271,
        -0.034411,
        -0.027634,
        -0.020425,
        -0.013281
      ]
    },
    "B": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.046777,
        -0.083033,
        -0.11055,
        -0.130519,
        -0.1438,
        -0.153662,
        -0.159739,
        -0.161888,
        -0.160331,
        -0.155885,
        -0.149364,
        -0.141527,
        -0.133044,
        -0.124484,
        -0.116299,
        -0.108817,
        -0.102258,
        -0.096613,
        -0.091932,
        -0.088203
      ]
    },
    "NX": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.155113,
        -0.246186,
        -0.258773,
        -0.237806,
        -0.203926,
        -0.175619,
        -0.151334,
        -0.127461,
        -0.103387,
        -0.080294,
        -0.059627,
        -0.042023,
        -0.027634,
        -0.016343,
        -0.00789,
        -0.001964,
        0.001829,
        0.004362,
        0.005857,
        0.006439
      ]
    },
    "pi": {
      "unit": "pp_dev",
      "path": [
        -0.083223,
        -0.103057,
        -0.091479,
        -0.069907,
        -0.047297,
        -0.031629,
        -0.019476,
        -0.008841,
        0.000673,
        0.008397,
        0.014032,
        0.017604,
        0.019333,
        0.019534,
        0.018531,
        0.016608,
        0.014085,
        0.011486,
        0.008871,
        0.006323
      ]
    },
    "mc": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -1.122642,
        -0.902637,
        -0.718828,
        -0.557251,
        -0.410379,
        -0.336853,
        -0.25191,
        -0.160717,
        -0.072125,
        -0.000683,
        0.052985,
        0.089641,
        0.110845,
        0.118627,
        0.115421,
        0.103979,
        0.086699,
        0.068988,
        0.049429,
        0.029531
      ]
    },
    "unemployment": {
      "unit": "pp_dev",
      "path": [
        0.123692,
        0.186632,
        0.210723,
        0.209884,
        0.193104,
        0.173178,
        0.149784,
        0.12326,
        0.094819,
        0.066916,
        0.041349,
        0.019301,
        0.001434,
        -0.013648,
        -0.024639,
        -0.031458,
        -0.034415,
        -0.034421,
        -0.031982,
        -0.027666
      ]
    },
    "credit_supply": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.073041,
        -0.1259,
        -0.163137,
        -0.188209,
        -0.203794,
        -0.212587,
        -0.216061,
        -0.215358,
        -0.211417,
        -0.205087,
        -0.197081,
        -0.18797,
        -0.178206,
        -0.168145,
        -0.15806,
        -0.148138,
        -0.138517,
        -0.129263,
        -0.120439,
        -0.112084
      ]
    },
    "lending_spread": {
      "unit": "pp_dev",
      "path": [
        0.003002,
        0.005174,
        0.006704,
        0.007735,
        0.008375,
        0.008736,
        0.008879,
        0.00885,
        0.008688,
        0.008428,
        0.008099,
        0.007725,
        0.007324,
        0.00691,
        0.006496,
        0.006088,
        0.005692,
        0.005312,
        0.00495,
        0.004606
      ]
    },
    "gdp_services": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -1.236921,
        -0.995527,
        -0.793339,
        -0.615354,
        -0.453452,
        -0.372327,
        -0.278667,
        -0.178125,
        -0.080439,
        -0.001632,
        0.057597,
        0.098083,
        0.121539,
        0.1302,
        0.126746,
        0.114209,
        0.095231,
        0.075769,
        0.054265,
        0.03238
      ]
    },
    "gdp_manufacturing": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.507025,
        -0.469471,
        -0.426852,
        -0.383105,
        -0.338649,
        -0.321461,
        -0.296449,
        -0.264552,
        -0.229252,
        -0.197105,
        -0.16942,
        -0.146673,
        -0.128918,
        -0.116034,
        -0.107573,
        -0.102519,
        -0.10021,
        -0.098582,
        -0.098298,
        -0.098864
      ]
    },
    "r": {
      "unit": "pp_dev",
      "path": [
        -0.075437,
        -0.143756,
        -0.181511,
        -0.18952,
        -0.175663,
        -0.15247,
        -0.125437,
        -0.096893,
        -0.068226,
        -0.041065,
        -0.016823,
        0.003538,
        0.019531,
        0.031078,
        0.038413,
        0.041975,
        0.042341,
        0.040381,
        0.036748,
        0.031984
      ]
    },
    "bank_equity": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.087549,
        -0.150908,
        -0.195541,
        -0.225593,
        -0.244274,
        -0.254813,
        -0.258977,
        -0.258134,
        -0.253411,
        -0.245823,
        -0.236227,
        -0.225306,
        -0.213603,
        -0.201543,
        -0.189455,
        -0.177563,
        -0.16603,
        -0.154938,
        -0.144362,
        -0.134348
      ]
    },
    "vix": {
      "unit": "index_level",
      "path": [
        80.0,
        68.947902,
        57.111602,
        47.853385,
        40.589813,
        35.11667,
        30.764435,
        27.290197,
        24.513422,
        22.330858,
        20.62534,
        19.297278,
        18.268668,
        17.537804,
        16.975994,
        16.538969,
        16.199191,
        15.934773,
        15.729155,
        15.569361
      ]
    },
    "y3m": {
      "unit": "pp_dev",
      "path": [
        -0.301746,
        -0.575025,
        -0.726043,
        -0.758081,
        -0.702653,
        -0.609879,
        -0.501749,
        -0.387571,
        -0.272902,
        -0.16426,
        -0.067291,
        0.014152,
        0.078123,
        0.124313,
        0.153653,
        0.167899,
        0.169366,
        0.161523,
        0.146992,
        0.127936
      ]
    },
    "y30": {
      "unit": "pp_dev",
      "path": [
        -0.048705,
        -0.046229,
        -0.041474,
        -0.035459,
        -0.029176,
        -0.023354,
        -0.018304,
        -0.014154,
        -0.010955,
        -0.00871,
        -0.00737,
        -0.006837,
        -0.006982,
        -0.007659,
        -0.00872,
        -0.010025,
        -0.011448,
        -0.012883,
        -0.014251,
        -0.015497
      ]
    },
    "Q_B_3m": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.075437,
        0.143756,
        0.181511,
        0.18952,
        0.175663,
        0.15247,
        0.125437,
        0.096893,
        0.068226,
        0.041065,
        0.016823,
        -0.003538,
        -0.019531,
        -0.031078,
        -0.038413,
        -0.041975,
        -0.042341,
        -0.040381,
        -0.036748,
        -0.031984
      ]
    },
    "Q_B_2y": {
      "unit": "pct_dev_from_baseline",
      "path": [
        1.083652,
        1.076802,
        0.979245,
        0.822792,
        0.639386,
        0.453952,
        0.279581,
        0.123923,
        -0.008001,
        -0.113039,
        -0.190413,
        -0.241305,
        -0.268329,
        -0.274995,
        -0.265256,
        -0.243142,
        -0.212497,
        -0.176786,
        -0.138756,
        -0.100587
      ]
    },
    "Q_B_5y": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.88273,
        0.790944,
        0.642819,
        0.465838,
        0.286524,
        0.124152,
        -0.013385,
        -0.123192,
        -0.204479,
        -0.257689,
        -0.284696,
        -0.288589,
        -0.273265,
        -0.242994,
        -0.202053,
        -0.154452,
        -0.103752,
        -0.05295,
        -0.004221,
        0.040881
      ]
    },
    "Q_B_10y": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.878347,
        0.826742,
        0.718762,
        0.579485,
        0.43332,
        0.298216,
        0.181851,
        0.087391,
        0.016095,
        -0.031922,
        -0.057881,
        -0.064165,
        -0.053947,
        -0.030802,
        0.001631,
        0.039902,
        0.08092,
        0.122069,
        0.161442,
        0.197672
      ]
    },
    "Q_B_30y": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.876696,
        0.832117,
        0.746525,
        0.63826,
        0.525169,
        0.420373,
        0.329475,
        0.254779,
        0.197192,
        0.156788,
        0.132664,
        0.12307,
        0.125677,
        0.137864,
        0.156966,
        0.180455,
        0.206067,
        0.231886,
        0.256515,
        0.278953
      ]
    },
    "NEER": {
      "unit": "pct_dev_from_baseline",
      "path": [
        -0.540874,
        -0.639645,
        -0.643241,
        -0.603878,
        -0.543747,
        -0.504376,
        -0.458298,
        -0.4024,
        -0.338745,
        -0.274054,
        -0.212474,
        -0.155999,
        -0.10581,
        -0.06285,
        -0.02737,
        0.001817,
        0.02511,
        0.044537,
        0.059803,
        0.071317
      ]
    },
    "USD": {
      "unit": "pct_dev_from_baseline",
      "path": [
        0.804906,
        0.842284,
        0.777922,
        0.670448,
        0.545679,
        0.464453,
        0.377315,
        0.282139,
        0.182338,
        0.087406,
        0.002921,
        -0.070472,
        -0.132285,
        -0.182195,
        -0.220656,
        -0.249763,
        -0.270479,
        -0.286227,
        -0.296373,
        -0.301667
      ]
    },
    "P_energy": {
      "unit": "USD/bbl (level)",
      "path": [
        77.466835,
        76.708951,
        76.721019,
        77.048265,
        77.487584,
        77.80028,
        78.080283,
        78.36425,
        78.654955,
        78.928749,
        79.169089,
        79.36954,
        79.529287,
        79.650382,
        79.736722,
        79.793689,
        79.826505,
        79.848053,
        79.858588,
        79.85998
      ]
    },
    "P_metals": {
      "unit": "index (level)",
      "path": [
        97.530407,
        96.810704,
        96.83872,
        97.164946,
        97.591179,
        97.894392,
        98.166376,
        98.442226,
        98.721182,
        98.980919,
        99.208405,
        99.399181,
        99.553269,
        99.672785,
        99.761249,
        99.82351,
        99.864058,
        99.894041,
        99.913393,
        99.923559
      ]
    },
    "P_food": {
      "unit": "index (level)",
      "path": [
        97.331796,
        96.43853,
        96.348462,
        96.613228,
        97.026617,
        97.339991,
        97.638997,
        97.955338,
        98.285825,
        98.602975,
        98.887708,
        99.131058,
        99.330132,
        99.485545,
        99.600403,
        99.67989,
        99.729487,
        99.762773,
        99.781033,
        99.787033
      ]
    },
    "P_gas": {
      "unit": "USD/mmBtu (level)",
      "path": [
        3.83226,
        3.781841,
        3.781761,
        3.802518,
        3.830948,
        3.8512,
        3.869301,
        3.887695,
        3.906716,
        3.924874,
        3.940983,
        3.954551,
        3.965474,
        3.973855,
        3.979929,
        3.984036,
        3.986512,
        3.98823,
        3.989191,
        3.989512
      ]
    },
    "P_copper": {
      "unit": "index (level)",
      "path": [
        98.138976,
        97.601364,
        97.625037,
        97.870576,
        98.1895,
        98.417828,
        98.624233,
        98.834565,
        99.046893,
        99.244003,
        99.416887,
        99.562606,
        99.681295,
        99.774484,
        99.844676,
        99.895369,
        99.929764,
        99.955768,
        99.973319,
        99.983469
      ]
    },
    "P_wheat": {
      "unit": "index (level)",
      "path": [
        98.468109,
        98.016928,
        98.034373,
        98.243684,
        98.52149,
        98.728186,
        98.917418,
        99.109084,
        99.300681,
        99.477045,
        99.628675,
        99.752163,
        99.847421,
        99.916155,
        99.961282,
        99.986676,
        99.996151,
        99.997703,
        99.992295,
        99.981665
      ]
    },
    "P_gold": {
      "unit": "USD/oz (level)",
      "path": [
        5472.236223,
        4889.969489,
        4263.62599,
        3772.560929,
        3386.045122,
        3093.93727,
        2860.979928,
        2674.340662,
        2524.485021,
        2406.059343,
        2312.969787,
        2240.046072,
        2183.228144,
        2142.491067,
        2111.010148,
        2086.442974,
        2067.318126,
        2052.437627,
        2040.888208,
        2031.953396
      ]
    }
  },
  "summary": {
    "GDP_peak_pct": -1.8741,
    "GDP_peak_quarter": 1,
    "CPI_3yr_pp": -0.5917,
    "CPI_3yr_definition": "sum of quarterly pi_cpi IRF over Q1\u2013Q12",
    "equity_peak_pct": -3.629,
    "equity_peak_quarter": 1
  },
  "qa_checks": {
    "json_matches_peaks": true,
    "complete_q1_q20": true,
    "no_nan": true,
    "rer_sign": "increase=real_depreciation",
    "ok": true,
    "reasons": []
  }
}