Klein: Klein's Data on the U. S. Economy

In sem: Structural Equation Models

Klein's Data on the U. S. Economy

Description

Data for Klein's (1950) simple econometric model of the U. S. economy.

The Klein data frame has 22 rows and 10 columns.

Usage

Klein

Format

This data frame contains the following columns:

Year

1921–1941

C

consumption.

P

private profits.

Wp

private wages.

I

investment.

K.lag

capital stock, lagged one year.

X

equilibrium demand.

Wg

government wages.

G

government non-wage spending.

T

indirect business taxes and net exports.

Source

Greene, W. H. (1993) Econometric Analysis, Second Edition. Macmillan.

References

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

Examples

Klein$P.lag <- c(NA, Klein$P[-22])
Klein$X.lag <- c(NA, Klein$X[-22])

summary(tsls(C ~ P + P.lag + I(Wp + Wg), 
    instruments=~1 + G + T + Wg + I(Year - 1931) + K.lag + P.lag + X.lag,
    data=Klein))
    
summary(tsls(I ~ P + P.lag + K.lag,
    instruments=~1 + G + T + Wg + I(Year - 1931) + K.lag + P.lag + X.lag,
    data=Klein))
    
summary(tsls(Wp ~ X + X.lag + I(Year - 1931),
    instruments=~1 + G + T + Wg + I(Year - 1931) + K.lag + P.lag + X.lag,
    data=Klein))

sem documentation built on Sept. 12, 2024, 7:39 a.m.