KleinI: Klein Model I

In AER: Applied Econometrics with R

Klein Model I

Description

Klein's Model I for the US economy.

Usage

data("KleinI")

Format

An annual multiple time series from 1920 to 1941 with 9 variables.

consumption

Consumption.

cprofits

Corporate profits.

pwage

Private wage bill.

invest

Investment.

capital

Previous year's capital stock.

gnp

Gross national product.

gwage

Government wage bill.

gexpenditure

Government spending.

taxes

Taxes.

Source

Online complements to Greene (2003). Table F15.1.

https://pages.stern.nyu.edu/~wgreene/Text/tables/tablelist5.htm

References

Greene, W.H. (2003). Econometric Analysis, 5th edition. Upper Saddle River, NJ: Prentice Hall.

Klein, L. (1950). Economic Fluctuations in the United States, 1921–1941. New York: John Wiley.

Maddala, G.S. (1977). Econometrics. New York: McGraw-Hill.

See Also

Greene2003

Examples

data("KleinI", package = "AER")
plot(KleinI)

## Greene (2003), Tab. 15.3, OLS
library("dynlm")
fm_cons <- dynlm(consumption ~ cprofits + L(cprofits) + I(pwage + gwage), data = KleinI)
fm_inv <- dynlm(invest ~ cprofits + L(cprofits) + capital, data = KleinI)
fm_pwage <- dynlm(pwage ~ gnp + L(gnp) + I(time(gnp) - 1931), data = KleinI)
summary(fm_cons)
summary(fm_inv)
summary(fm_pwage)

## More examples can be found in:
## help("Greene2003")

AER documentation built on Sept. 28, 2024, 9:07 a.m.