Dataset: Capital-Embodied Technological Progress and Obsolescence
Description
DSGE Model Estimation Definition of data variables Real output = LN(Gross Domestic Product/ PCE Deflator/ Population) * 100 Real consumption = LN((Personal Consumption Expenditures/ PCE Deflator) / Population) * 100 Real investment = LN((Private Non-Residential Investment/ PCE Deflator) / Population) * 100 Hours worked = LN((Average Weekly Hours * Employment/ 100)/ Population) * 100 Inflation = LN(PCE Deflator / PCE Deflator (-1) ) * 100 Real wage = LN(Hourly Compensation / PCE Deflator) * 100 Policy interest rate = Federal Funds Rate / 4 Relative price of investment = -1 * LN(Price Index of Private Non-Residential Investment/ PCE Deflator) *100 Source of the original data Gross Domestic Product: Gross Domestic Product, Table 1.1.5. Gross Domestic Product, NIPA Personal Consumption Expenditures: Personal Consumption Expenditures, Table 1.1.5. Gross Domestic Product, NIPA Private Non-Residential Investment: Private Non-Residential Investment, Table 1.1.5 Gross Domestic Product, NIPA PCE Deflator: Personal Consumption Expenditures, Table 1.1.9. Implicit Price Deflator for Gross Domestic Product Source: U.S. Bureau of Economic Analysis Price Index of Private Non-Residential Investment: Private Non-Residential Capital Formation, Deflator (PIB), OECD Economic Outlook Database Source: Organisation for Economic Co-operation and Development Population: Population level, Civilian Noninstitutional Population, 16 Years and Over, Labor Force Statistics from the Current Population Survey, Series ID = LNS10000000 (Period: 1947 – 1975) Population: Population level, Civilian Noninstitutional Population, 16 Years and Over, Labor Force Statistics from the Current Population Survey, Series ID = LNU00000000 Employment: Employment level, Employed, 16 Years and Over, All Industries, All Occupations, Labor Force Statistics from the Current Population Survey, Series ID = LNS12000000 Average Weekly Hours: Average Weekly Hours, Major Sector Productivity and Costs, Nonfarm Business, Series ID = PRS85006023 Hourly Compensation: Hourly Compensation, Major Sector Productivity and Costs, Nonfarm Business, Series ID = PRS85006103 Source: U.S. Bureau of Labor Statistics Federal Funds Rate: Averages of Monthly Figures - Percent Source: Board of Governors of the Federal Reserve System Market Capitalization and Capital Stock Source of the original data Total Liabilities and Equity, Nonfinancial Corporate Business, Financial Accounts, Series ID: FL104194005.Q Total Financial Assets, Nonfinancial Corporate Business, Financial Accounts, Series ID: FL104090005.Q Nonresidential Structures, Equipment, and Intellectual Property Products, Current Cost Basis, Nonfinancial Corporate Business, Financial Accounts, Series ID: FL105013865.Q Source: Board of Governors of the Federal Reserve System