R: Klein's Data on the U. S. Economy

Klein {sem} | R Documentation

## Klein's Data on the U. S. Economy

### Description

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

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

### Usage

    Klein

### Format

This data frame contains the following columns:

Year

  1921–1941

C

  consumption.

P

  private profits.

Wp

  private wages.

I

  investment.

K.lag

  capital stock, lagged one year.

X

  equilibrium demand.

Wg

  government wages.

G

  government non-wage spending.

T

  indirect business taxes and net exports.

### Source

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

### References

Klein, L. (1950) Economic Fluctuations in the United States 1921–1941. Wiley.

### Examples

    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))

[Package sem version 3.1-13 Index]