Load_Data: Data series for 16 OECD countries obtained from the PWT and...
In CKastrup/CESKalman: CESKalman

Description Usage Arguments Details Value Author(s) References See Also Examples

View source: R/Data.R

This function loads data from the PWT and OECD databases and is suitable for estimating the elasticity of substitution between capital and labor at the country level.

1	Load_Data(Country,tstart=1970,tend=2017)

`Country`	The ISO code of the country (see details)
`tstart`	Initial time period. Earliest is 1970 (default)
`tend`	Last time period. Latest possible is 2017 (default)

This function loads various types of data and returns a time series matrix for the chosen country. Note: We do not take responsibility for potential errors and the data is primarily included for illustration.

The data series are obtained from the PWT version 9.1 and the OECD data base.

Available countries are Australia (AUS), Austria (AUT), Belgium (BEL), Canada (CAN), Denmark (DNK), Finland (FIN) France (FRA), Germany (DEU), Italy (ITA), Japan (JPN), the Netherlands (NLD), New Zealand (NZL), Norway (NOR), Sweden (SWE), Great Britain (GBR) and the United States (USA).

The user cost of capital is calculated as: q_{t}=(v_{it}/q_{it})*(irr_{t}+delta_{t}) with i denoting investments

Returns a time series matrix with the objects: q_gdp: Real GDP in national currency. v_gdp: Nominal GDP in national currency. emp: Employment in national currency. avh: Average number of yearly working hours. labsh: Labor share in nominal GDP. irr: Real Internal Rate of Return (see PWT version 9.1). delta: Residually calculated depreciation rate. v_i: Nominal investments in national currency. q_i: Real investments in national currency. K: Net capital stock. L: Number of yearly labor hours. w: The wage. pi: Inflation rate. q: A simplified Hall-Jorgenson user cost (see details). KL: Capital/labor ratio. markup: The calculated profits rate. GDP_US: Real GDP in USD. Can be used in weighted regressions.

Christian Sandholm Kastrup <CST@dreamgruppen.dk>, Anders Farver Kronborg <ANK@dreamgruppen.dk> and Peter Philip Stephensen <PSP@dreamgruppen.dk>

Feenstra et al (2015)

https://stats.oecd.org/Index.aspx?DataSetCode=STAN and https://www.rug.nl/ggdc/productivity/pwt/

Data = Load_Data(Country="USA",tstart=1970,tend=2017)

Data = data.frame(Data)

## Create the data object needed in the CESKalman function:
data = cbind(Data$q,Data$w,Data$K,Data$L)