Kmenta: Partly Artificial Data on the U.S. Economy

In ivreg: Instrumental-Variables Regression by '2SLS', '2SM', or '2SMM', with Diagnostics

Partly Artificial Data on the U.S. Economy

Description

These are partly contrived data from Kmenta (1986), constructed to illustrate estimation of a simultaneous-equation econometric model. The data are an annual time-series for the U.S. economy from 1922 to 1941. The values of the exogenous variables D, and F, and A are real, while those of the endogenous variables Q and P are simulated according to the linear simultaneous equation model fit in the examples.

Usage

data("Kmenta", package = "ivreg")

Format

A data frame with 20 rows and 5 columns.

Q

food consumption per capita.

P

ratio of food prices to general consumer prices.

D

disposable income in constant dollars.

F

ratio of preceding year's prices received by farmers to general consumer prices.

A

time in years.

Source

Kmenta, J. (1986) Elements of Econometrics, 2nd ed., Macmillan.

See Also

ivreg.

Examples

data("Kmenta", package = "ivreg") 
deq <- ivreg(Q ~ P + D     | D + F + A, data = Kmenta) # demand equation
seq <- ivreg(Q ~ P + F + A | D + F + A, data = Kmenta) # supply equation
summary(deq, tests = TRUE)
summary(seq, tests = TRUE)

ivreg documentation built on April 3, 2025, 9:34 p.m.