Tom Engsted and Niels Haldrup, "The Linear Quadratic Adjustment Cost
Model and the Demand for Labour", Journal of Applied Econometrics, Vol.
9, Supplement, 1994, pp. S145-S159.

The Data used in the analysis are quarterly seasonally unadjusted time series,
covering the period 1974.1 - 1990.4. (i.e. a total of 68 observations). The
Data was constructed by taking quarterly averages of monthly series.

It corresponds to Danish Manufacturing Industries at a 2 digit level, taken
from various issues of 'Statistiske Efterretninger - Industri og Energi'.

The sectors used in the analysis are:

SIC 31: Manufacture of food, beverages and tobacco.
SIC 35: Manufacture of chemicals, etc.
SIC 39: Other industries.

The file eh-data.zip contains three zip files, one for each series.
Each contains the following variables by observation:

l: Number of Employed. Number of wage earners employed in manufacturing
   industries.

hour: Man-hour. Index of average monthly input of man-hours by wage earners
      in manufacturing industries.

wp: Real product wages. Index of average hourly wage costs divided by the
    index of producer prices in manufacturing industries.

sales: Real sales. Index for orders and sales divided by index of producer
       prices in manufacturing industries.

praw: Real raw material prices. Raw material price index divided by the
      index of producer prices in manufacturing industries.


Tom ENGSTED, Aarhus Business School
Niels HALDRUP, Aarhus University