Vasco Curdia, Marco Del Negro, and Daniel L. Greenwald, "Rare Shocks, 
Great Recessions", Journal of Econometrics, Vo. 29, No. 7, 2014, pp. 
1031-1052.

A full description of our data set can be found in the online appendix
to the paper.

The data file is called "cdg_data.txt" and is tab-delimited. There are
seven variables, each with 188 quarterly observations. The sample is
1962:Q1 - 2011:Q1. The variables are constructed from nine initial
series. All data except for the Federal Funds Rate is obtained from
Haver Analytics. Frequency, Haver mnemonics and the original source
are listed below.

INITIAL SERIES (Format: Series (Frequency, Haver Mnemonic, Source)):

Real GDP (Q, GDPC, BEA: NIPA)
GDP price deflator (Q, GDPDEF, BEA: NIPA)	
Nominal personal consumption expenditures (Q, PCEC, BEA: NIPA)
Nominal fixed private investment (Q, PCEC, BEA: NIPA)
Average weekly hours of production (M, PRS85006023, BLS: Establishment Survey)
Civilian employment (M, CE16OV, BLS: Household Survey)
Civilian noninstitutional population (M, LNSINDEX, BLS: Household Survey)
Compensation per hour for non-farm business (Q, PRS85006103, BLS:
  Labor Productivity and Costs)
Federal Funds Rate (D, N/A, Federal Reserve Board: H.15)

Daily and monthly data are aggregated into quarterly observations by
averaging over the quarter.

To obtain the final series provided in the dataset, we transform the
initial series listed above.  For notation, "Delta" stands for the
difference operator, "*" stands for multiplication, and "ln" stands
for the natural logarithm. All variables are referred to by their
Haver mnemonic, with the exception of Federal Funds Rate, which is
referred to as "FFR." The header of the column in the data file is
also provided.

FINAL SERIES (Format: Series (Header, Formula)):

Real per capita output growth (Output_Growth): 100 * Delta ln(GDPC / LNSINDEX)
Real per capital consumption growth (Consumption_Growth):
  100 * Delta ln((PCEC / GDPDEF) / LNSINDEX)
Real per capital investment growth (Investment_Growth):
  100 * Delta \ln ((FPI / GDPDEF) / LNSINDEX)
Real wage growth (Wage_Growth): 100 * ln(PRS85006103 / GDPDEF)
Hours (Hours): ln((PRS85006023 * CE16OV / 100) / LNSINDEX) * 100
Inflation (Inflation): 100 * Delta ln(GDPDEF)
Federal Funds Rate (FFR): FFR / 4

The file cdg_data.txt is an ASCII file in DOS format. It is zipped in
the file cdg-data.zip. Unix/Linux users should use "unzip -a".

Please address any questions to:

Marco Del Negro (marco.delnegro [AT] ny.frb.org)
Department of Macroeconomic and Monetary Studies
Federal Reserve Bank of New York
33 Liberty Street
New York, NY 10045
UNITED STATES