Plotting NBER Recesssions
nberDates returns a matrix with two columns of yyyymmdd dates
giving the Start and End dates of recessions fixed by the NBER.
nberShade is a generic method for shading recession areas
on the current plot. The default version calls
nberDates() to get a matrix of yyyymmdd dates and then passes
those dates and all other arguments along to
romerLines draws vertical lines on the current plot at the
"Romer and Romer" dates when monetary policy is said to have become
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args passed to
nberDates returns the two column matrix of recession date
ranges described above.
Nothing useful is returned by the other functions.
Recessions are dated by the Business Cycle Dating Committee of the National Bureau of Economic Research.
The Romer dates are October 1947, September 1955, December 1968, April 1974, August 1978, October 1979 and December 1988.
Christina D. Romer and David H. Romer. 1989. "Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz." NBER Macroeconomics Annual 4: 121-170.
Christina D. Romer and David H. Romer. 1994. "Monetary Policy Matters." Journal ofMonetary Economics 34 (August): 75-88.
National Bureau of Economic Research. http://www.nber.org.
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