Description

Wooldridge Source: J. Shea (1993), “The Input-Output Approach to Instrument Selection,” Journal of Business and Economic Statistics 11, 145-156. Professor Shea kindly provided these data. Data loads lazily.

Usage

Format

A data.frame with 312 observations on 30 variables:

• year: 1964-1989

• month: 1-12

• prccem: BLS ppi for cement

• ipcem: industrial prod. index, cement

• prcpet: ppi for crude petroleum

• rresc: real residential construction

• rnonc: real nonres. construction

• ip: aggregate index of indus. prod.

• rdefs: real defense spending

• milemp: military employment

• gprc: log(prccem) - log(prccem[_n-1])

• gcem: log(ipcem) - log(ipcem[_n-1])

• gprcpet: log(prcpet) - log(prcpet[_n-1])

• gres: log(rresc) - log(rresc[_n-1])

• gnon: log(rnonc) - log(rnonc[_n-1])

• gip: log(ip) - log(ip[_n-1])

• gdefs: log(rdefs) - log(rdefs[_n-1])

• gmilemp: log(milemp) - log(milemp[_n-1])

• jan: =1 if month == 1

• feb: =1 if month == 2

• mar: =1 if month == 3

• apr: =1 if month == 4

• may: =1 if month == 5

• jun: =1 if month == 6

• jul: =1 if month == 7

• aug: =1 if month == 8

• sep: =1 if month == 9

• oct: =1 if month == 10

• nov: =1 if month == 11

• dec: =1 if month == 12

Notes

Compared with Shea’s analysis, the producer price index (PPI) for fuels and power has been replaced with the PPI for petroleum. The data are monthly and have not been seasonally adjusted.

Used in Text: pages 579

Source

https://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20b&product_isbn_issn=9781111531041

Examples