R: SIC33 Production Data

SIC33 {AER} | R Documentation

## SIC33 Production Data

### Description

Statewide production data for primary metals industry (SIC 33).

### Usage

    data("SIC33")

### Format

A data frame containing 27 observations on 3 variables.

output

  Value added.

labor

  Labor input.

capital

  Capital stock.

### Source

Online complements to Greene (2003). Table F6.1.

http://pages.stern.nyu.edu/~wgreene/Text/tables/tablelist5.htm

### References

Greene, W.H. (2003). Econometric Analysis, 5th edition. Upper Saddle River, NJ: Prentice Hall.

### See Also

`Greene2003`

### Examples

    data("SIC33")

    ## Example 6.2 in Greene (2003)
    ## Translog model
    fm_tl <- lm(output ~ labor + capital + I(0.5 * labor^2) + I(0.5 * capital^2) + I(labor * capital),
      data = log(SIC33))
    ## Cobb-Douglas model
    fm_cb <- lm(output ~ labor + capital, data = log(SIC33))

    ## Table 6.2 in Greene (2003)
    deviance(fm_tl)
    deviance(fm_cb)
    summary(fm_tl)
    summary(fm_cb)
    vcov(fm_tl)
    vcov(fm_cb)

    ## Cobb-Douglas vs. Translog model
    anova(fm_cb, fm_tl)
    ## hypothesis of constant returns
    linearHypothesis(fm_cb, "labor + capital = 1")

    ## 3D Visualization
    if(require("scatterplot3d")) {
      s3d <- scatterplot3d(log(SIC33)[,c(2, 3, 1)], pch = 16)
      s3d$plane3d(fm_cb, lty.box = "solid", col = 4)
    }

    ## Interactive 3D Visualization

    if(require("rgl")) {
      x <- log(SIC33)[,2]
      y <- log(SIC33)[,3]
      z <- log(SIC33)[,1]
      rgl.open()
      rgl.bbox()
      rgl.spheres(x, y, z, radius = 0.15)
      x <- seq(4.5, 7.5, by = 0.5)
      y <- seq(5.5, 10, by = 0.5)
      z <- outer(x, y, function(x, y) predict(fm_cb, data.frame(labor = x, capital = y)))
      rgl.surface(x, y, z, color = "blue", alpha = 0.5, shininess = 128)
    }

[Package AER version 1.2-5 Index]