Data Sets Used In Applications

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The following tables list the variables in the data sets used in the applications in the text. The data sets, themselves, can be downloaded from the website for the text.

TABLE F1.1 Consumption and Income, 10 Yearly Observations, 1970-1979

C = Consumption, Y= Disposable Income.

Source: Council of Economic Advisors, Economic Report of the President (Washington, D.C.: U.S. Government Printing Office, 1987).

X= Disposable Income, C = Consumption,

W = War years dummy variable, one in 1942-1945, zero other years. Source: Economic Report of the President (Washington, D.C.: U.S. Government Printing Office, 1983).

TABLE F2.2 The U.S. Gasoline Market, 36 Yearly Observations, 1960-1995

G = Total U.S. gasoline consumption, computed as total expenditure divided by price index, Pg = Price index for gasoline,

Y= Per capita disposable income, Pnc = Price index for new cars, Puc = Price index for used cars, Pp, = Price index for public transportation, Pd = Aggregate price index for consumer durables, Pn = Aggregate price index for consumer nondurables, Ps = Aggregate price index for consumer services, Pop = U.S. total population in millions.

Source: Council of Economic Advisors, Economic Report of the President: 1996 (Washington, D.C.: U.S. Government Printing Office, 1996).

TABLE F3.1 Investment, 15 Yearly Observations, 1968-1982

Year = Dale, GNP = Nominal GNP, Invest = Nominal Investment, CPI = Consumer price index, Interest = Interest rate.

Source: Economic Report of the President (Washington, D.C.: U.S. Government Printing Office, 1983). CPI 1967 is 79.06. The interest rate is the average yearly discount rate at the New York Federal Reserve Bank.

TABLE F4.1 Labor Supply Data from Mroz (1987)

LFP = A dummy variable = 1 if woman worked in 1975, else 0, WHRS = Wife's hours of work in 1975, KL6 = Number of children less than 6 years old in household, K618 — Number of children between ages 6 and 18 in household, WA = Wife's age,

WE = Wife's educational attainment, in years, WW= Wife's average hourly earnings, in 1975 dollars, RPWG = Wife's wage reported at the time of the 1976 interview (not = 1975 estimated wage), HHRS = Husband's hours worked in 1975, HA = Husband's age,

HE = Husband's educational attainment, in years, HW = Husband's wage, in 1975 dollars, FAMINC = Family income, in 1975 dollars, WMED = Wife's mother's educational attainment, in years, WFED = Wife's father's educational attainment, in years,

UN= Unemployment rate in county of residence, in percentage points, CIT= Dummy variable = one if live in large city (SMSA), else zero, AX= Actual years of wife's previous labor market experience.

Source: 1976 Panel Study of Income Dynamics, Mroz (1987).

TABLE F4.2 The Longley Data, 15 Yearly Observations, 1947-1962

Employ = Employment (1,000s), Price = GNP deflator, GNP = Nominal GNP (millions), Armed = Armed forces, Year = Date.

Source: Longley (1967).

Year = Date, Qtr = Quarter, Realgdp = Real GDP ($bil), Realcons = Real consumption expenditures, Realinvs = Real investment by private sector, Realgovt = Real government expenditures, Realdpi = Real disposable personal income, CPLU = Consumer price index, Ml = Nominal money stock, Tbilrate = Quarterly average of month end 90 day T-bill rate, Unemp = Unemployment rate,

Pop = Population, mil. interpolate of year end figures using constant growth rate per quarter,

Infl = Rate of inflation (first observation is missing), Realint = Ex post real interest rate = Tbilrate—Infl. (First observation missing).

Source: Department of Commerce, BEA website and

TABLE F5.2 Cost Function. 123 1970 Cross-section Firm Level Observations

Id = Observation, Year = 1970 for all observations, Cost = Total cost, Q = Total output, PI = Wage rate, SI = Cost share for labor, Pk = Capital price index, Sk = Cost share for capital, Pf= Fuel price, Sf= Cost share for fuel.

Source: Christensen and Greene (1976). Note the file contains some extra observations. These are the holding companies. Use only the first 123 observations to replicate Christensen and Greene.

TABLE F6.1 Production for SIC 33: Primary Metals. 27 Statewide Observations

Obs = Observation number, Valueadd = Value added, Labor = Labor input, Capital = Capital stock.

Note: Data are per establishment, labor is a measure of labor input, and capital is the gross value of plant and equipment. A scale factor used to normalize the capital figure in the original study has been omitted. Further details on construction of the data are given in Aigner et al. (1977) and in Hildebrand and Liu (1957).

TABLE F7.1...fS>r,.U,§, Airlines, 90 Observations on 6 Firms for 1970-1984

Q = Output, in revenue passenger miles, index number, C = Total cost, in $1,000, PF = Fuel price,

LF= Load factor, the average capacity utilization of the fleet.

Source: These data are a subset of a larger data set provided to the author by Professor Moshe Kim. They were originally constructed by Christensen Associates of Madison, Wisconsin.

TABLE F7.2 Solow's Technological Change Data, 41 Yearly Observations. 1909-1949

Year = Date, Q = Output, K = Capital/labor ratio, A = Index of technology.

Source: Solow (1957, p. 314). Several Variables are omitted.

TABLE F8.1 Pesaran and Hall Inflation Data

Pa = Actual inflation, Pe = Expected inflation,

Source: Pesaran and Hall (1988).

„TABLE F9.1 Income and Expenditure Data. 100 Cross Section Observations

MDR = Number of derogatory reports, Acc = Credit card application accepted (1 = yes), Age = Age in years + 12ths of a year, Income = Income, divided by 10,000, Avgexp = Avg. monthly credit card expenditure, Ownrent = OwnRent, individual owns (1) or rents (0) home, Selfempl= Self employed (1 = yes, 0 = no).

Source: Greene (1992).

TABLE F9.2 Statewide Data on Transportation Equipment Manufacturing. 25 Observations

State = Observation, ValueAdd = Output, Capita = Capital input, Labor = Labor input, Nfirm = Number of firms.

Source: A Zellner and N. Revankar (1970, p. 249). Note: "Value added," "Capital," and "Labor" are in millions of 1957 dollars. Data used for regression examples are per establishment. Raw data are used for the stochastic frontier application in Chapter 16.

TABLE F11.1 Bollerslev and Ghysels Exchange Rate Data. 1974 Daily Observations

Y = Nominal return on Mark/Pound exchange rate, daily.

Source: Bollerslev (1986).

TABLE F13.1 Grunfeld Investment Data. 100 Yearly Observations on 5 Firms for 1935-1954

I= Gross investment, from Moody's Industrial Manual and annual reports of corporations, F=Value of the firm from Bank and Quotation Record and Moody's Industrial Manual, C = Stock of plant and equipment, from Survey of Current Business.

Source: Moody's Industrial Manual, Survey of Current Business.

TABLE F14.1 Manufacturing Costs, U.S. Economy, 25 Yearly Observations, 1947-1971

Cost = Cost index,

K = Capital cost share, L = Lahor cost share, E = Energy cost share, M = Materials cost share, Pk = Capital price, PI = Labor price, Pe = Energy price, Pm = Materials price.

Source: Berndt and Wood (1975).

TABLE F14.2 Cost Function, 145 U.S. Electricity Producers, 1955 Data-Nerlove

1 inn = Observation, Year = 1955 for all observations, Cost = Total cost, Output = Total output, PI = Wage rate, SI = Cost sh are for labor, Pk = Capital price index, Sk = Cost share for capital, Pf= Fuel price, Sf= Cost share for fuel.

Source: Nerlove (1963) and Christensen and Greene (1976).

Note: The data file contains several extra observations that are aggregates of commonly owned firms. Use only the first 145 for analysis.

TABLE F15.1 Klein's Model I, 22 Yearly Observations, 1920-1941

C = Consumption, P = Corporate profits, Wp = Private wage bill,

1 = Investment, Kl = previous year's capital stock, X= GNP, Wg = Government wage bill, G = Government spending, T= Taxes.

Source: Klein (1950).

TABLE F16.1 Bertschek and Lechner Binary Choice Data yit = One if firm i realized a product innovation in year t and zero if not, x,,2 = Log of sales,

Xu3 = Relative size = Ratio of employment in business unit to employment in the industry,

Xj,4 = Ratio of industry imports to (industry sales + imports), x„5 = Ratio of industry foreign direct investment to (industry sales + imports), xit6 = Productivity = Ratio of industry value added to industry employment, xitl = Dummy variable indicating firm is in the raw materials sector, xus = Dummy variable indicating firm is in the investment goods sector.

Note: These data are proprietary. Source: Bertcshek and Lechner (1998).

TABLE F18.1 Dahlberg and Johanssen-Municipal Expenditure Data

ID = Identification, Year = Date, Expend = Expenditure, Revenue = Revenue from taxes and fees, Grants = Grants from Central Government.

Source: Dahlberg and Johanssen (2000), Journal of Applied Econometrics, data archive.

TABLE F20.1 Bond Yield on a Moody's Aaa Rated. Monthly, 60 Monthly Obspfystions, 1990-1994

Date = Year.Month,

Y = Corporate bond rate in percent/year.

Source: National Income and Product Accounts, U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current Business: Business Statistics.

TABLE F20.2 Money. Output, and Price Deflator Data, 136 Quarterly Observations, 1950-1983

Y = Nominal GNP, Ml =M1 measure of money stock, P = Implicit price deflator for GNP.

Source: National Income and Product Accounts, U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current Business'. Business Statistics.

TABLE F21.1 Program Effectiveness, 32 Cross Section Observations

Obs = Observation, TUCE = Test score on economics test, PSI=Participation in program, GRADE = Grade increase (1) or decrease (0) indicator.

Source: Spector and Mazzeo (1980).

TABLE F21.2 Data Used to Study Travel Mode Choice. 840 Observations, on 4 Modes for 210 Individuals

Mode = Choice; Air, Train, Bus, or Car, Ttme = Terminal waiting time, 0 for car, Invc = In vehicle cost-cost component, Invt = Travel time, in vehicle, GC = Generalized cost measure, Hinc = Household income, Psize = Party size in mode chosen.

Source: Greene and Hensher (1997).

TABLE F21.3 Ship Accidents, 40 Observations on 5 Types in 4 Vintages and 2 Service Periods ^

Type = Ship type, TA, TB, TC, TD, TE = Type indicators, Y6064, Y6569, Y7074, Y7579= Year constructed indicators, 06064, 07579 = Years operated indicators, Months = Measure of service amount, Acc = Accidents.

Source: McCullagh and Nelder (1983).

TABLE F21.4 Expenditure and Default Data. 1,319 Observations

CarcLhlcLr = Dummy variable, one if application for credit card accepted, zero if not, Majordrg = Number of major derogatory reports, Age = Age n years plus twelfths of a year, Income = Yearly income (divided by 10,000),

ExpJnc = Ratio of monthly credit card expenditure to yearly income, Avgexp = Average monthly credit card expenditure, Ownrent = 1 if owns their home, 0 if rent, Selfempl= 1 if self employed, 0 if not, Depndt = 1 + number of dependents, Inc-per = Income divided by number of dependents, Cur-add = Months living at current address, Major = Number of major credit cards held, Active = Number of active credit accounts.

Source: Greene (1992).

TABLE F22.1 Strike Duration Data, 63 Observations in 9 Years, 1968-1976

Year= Date.

T= Strike duration in days, PROD = Unanticipated output.

Source: Kennan (1985).

TABLE F22.2 Fair's (1977) Extramarital Affairs Data, 601 Cross-section Observations y = Number of affairs in the past year, zl = Sex, z2 = Age, z3 = Number of years married, z4 = Children, z5 = Religiousness, z6 = Education, z7= Occupation, z8 = Self rating of marriage,

Several variables not used are denoted XI,..., X5.

Source: Fair (1977) and

TABLE FD.1 Observations on Income and Education. 20 Observations

I = Observation, Y= Income.

Source: Data are artificial.

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