ToolR provides basic functionality for economists. Package currently only allows CPI price conversions.
You can install the development version from GitHub with:
# install.packages("devtools")
devtools::install_github("bdempe18/toolR")
Rebase convert prices listed in a base year’s USD to its equivalent value in a desired year.
library(toolR)
prices_2000 <- c(100,200,300)
prices_2010 <- toolR::rebase(prices_2000, in_yr = 2000, to_yr = 2010)
prices_2010
#> [1] 126.6473 253.2947 379.9420
Rebase supports vectorized operations. A sequence of prices and base years can be converted to a common year.
prices <- runif(10, 50, 100)
yrs <- 2000:2009
rebase(price=prices, in_yr = yrs, to_yr = 2012)
#> [1] 128.44311 118.39742 105.61269 122.40534 85.92296 90.75703 107.95819
#> [8] 55.60872 89.48802 90.09398
Rebase can be used in conjunction with dplyr to convert a data frame column to a common year.
suppressPackageStartupMessages(library(dplyr))
df <- data.frame(yr = 2000:2009, prices = runif(10, 50, 100))
df %>% mutate(prices15 = rebase(price = prices, in_yr = yr, to_yr = 2015))
#> yr prices prices15
#> 1 2000 75.16783 103.45804
#> 2 2001 94.44039 126.42317
#> 3 2002 88.76840 116.96397
#> 4 2003 69.20121 89.13335
#> 5 2004 98.06781 123.03246
#> 6 2005 77.44576 93.99699
#> 7 2006 75.02880 88.22093
#> 8 2007 64.81711 74.08703
#> 9 2008 59.35769 65.35361
#> 10 2009 87.46620 96.61097
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