Klein                  package:sem                  R Documentation

_K_l_e_i_n'_s _D_a_t_a _o_n _t_h_e _U. _S. _E_c_o_n_o_m_y

_D_e_s_c_r_i_p_t_i_o_n:

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

     The 'Klein' data frame has 22 rows and 10 columns.

_U_s_a_g_e:

     data(Klein)

_F_o_r_m_a_t:

     This data frame contains the following columns:

     _Y_e_a_r 1921-1941

     _C consumption.

     _P private profits.

     _W_p private wages.

     _I investment.

     _K._l_a_g capital stock, lagged one year.

     _X equilibrium demand.

     _W_g government wages.

     _G government non-wage spending.

     _T indirect business taxes and net exports.

_S_o_u_r_c_e:

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

_R_e_f_e_r_e_n_c_e_s:

     Klein, L. (1950) _Economic Fluctuations in the United States
     1921-1941._ Wiley.

_E_x_a_m_p_l_e_s:

     data(Klein)

     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))

