Neil R. Ericsson, John S. Irons, and Ralph W. Tryon, "Output and Inflation in the Long Run", Journal of Applied Econometrics, Vol. 16, No. 3, 2001, pp. 241-253. All files described here are contained in the zip file eitfiles.zip. Since the files within it were created on a Windows system, Unix users may encounter difficulties with the text files. Because many of the files are binary, it is not safe to use "unzip -a". History: Date: Monday, December 4, 2000 Revised: Tuesday, January 9, 2001 (disclaimer only) Revised: Monday, April 2, 2001 (to reflect forthcoming JAE publication) Revised: Tuesday, April 3, 2001 by James MacKinnon Author: Neil R. Ericsson Address: Stop 22, Federal Reserve Board, Washington, DC 20551 USA Email: ericsson@frb.gov Summary description: This file briefly describes the data, data transformations, and empirical results for Ericsson, Irons, and Tryon (2001). Additional details appear in Ericsson, Irons, and Tryon (2000). Files are of several types: .bn7 PcGive binary data file (paired with similarly named .in7) .cat IFData catalog file .dat ASCII data listing .eps Encapsulated PostScript file .exe Executable file .fl PcGive batch file .gwg GiveWin graphics file (often paired with similarly named .eps) .htm HTML file .in7 PcGive information data file (paired with similarly named .in7) .out PcGive output file (ASCII) .pdf Adobe Acrobat file in Portable Document Format (PDF) .prn ASCII data listing .vew Contents listing of a similarly named .zip file .wk1 Lotus 1-2-3 spreadsheet file .xls Microsoft Excel spreadsheet file .zip Pkzip zipped file. Distribution and citation: The programs and data files described herein may be used freely for non-commercial purposes, provided that proper attribution is made in any report or publication involving their use. To facilitate replication and validation of empirical findings, please cite Ericsson, Irons, and Tryon (2001) and either or both of Levine and Renelt (1992) and Summers and Heston (1991), depending upon what data and/or programs are used. E.g., in the acknowledgements footnote of an article reporting results using these programs and data, include the sentence: "Empirical results herein were obtained using programs and data from Summers and Heston (1991), Levine and Renelt (1992), and Ericsson, Irons, and Tryon (2001)." The programs and data files themselves, either in whole or in part, may not be modified or be incorporated into any report, publication, computer program, or other media without the express, written consent of the authors. Disclaimer: These data and computer programs are provided only to facilitate further research. While the authors have taken all reasonable care in the preparation of these computer programs and data files, the authors make no representation, express or implied, with regard to the accuracy of the information contained in these data files or the functioning of these computer programs and cannot accept any legal responsibility or liability for any errors or omissions from the computer programs and data files or the consequences thereof. This material is solely the responsibility of the authors and not the responsibility of the Board of Governors of the Federal Reserve System or of other members of its staff. Feedback: The authors would welcome feedback regarding the empirical results herein. Please send comments, suggestions, and (especially) the identification of any errors to the contact address given above. References: Neil R. Ericsson, John S. Irons, and Ralph W. Tryon (2000) "Output and Inflation in the Long Run", International Finance Discussion Paper No. 687, Federal Reserve Board, Washington, D.C., November. This paper and the data and empirical results for it are available on the WorldWide Web at: www.federalreserve.gov/pubs/ifdp/2000/687/default.htm. This discussion paper is also in EIT2001.zip as the file IFDP687.pdf. [Note that the IFDP number changed from 688 to 687 at the last minute, due to a postponement of one IFDP. Some files still incorrectly list this reference as being IFDP #688.] Neil R. Ericsson, John S. Irons, and Ralph W. Tryon (2001) "Output and Inflation in the Long Run", Journal of Applied Econometrics, 16, 3, May-June, forthcoming. Ross Levine and David Renelt (1992) "A Sensitivity Analysis of Cross-country Growth Regressions", American Economic Review, 82, 4, 942-963, September. Robert Summers and Alan Heston (1991) "The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950-1988", Quarterly Journal of Economics, 106, 2, May, 327-368. Description of the cross-country data, transformations, and empirical results: - Raw data and auxiliary files for Levine and Renelt (1992). 11/22/00 05:48p 240,875 levren.exe 11/22/00 05:48p 213,372 levren.zip 11/22/00 05:58p 1,194 levren.vew The .exe and .zip files are equivalent, and each contains or generates the files: 06-28-95 11:40 86193478 --w- README.DOC 03-10-92 08:37 44526d1b --w- BARRO.WK1 06-28-95 11:38 bfd9cb13 --w- DAT6089.TXT 06-10-92 13:02 e0907522 --w- DAT6089.WK1 06-28-95 11:37 bdd9375c --w- DAT7489.TXT 06-10-92 13:03 f3f695a2 --w- DAT7489.WK1 06-28-95 11:37 c465bb52 --w- BARRO.TXT 06-28-95 11:40 7ea8b1fd --w- README.TXT The file DAT6089.WK1 is used in Ericsson, Irons, and Tryon (2001). The files levren.exe, levren.zip, and their contents are distributed on the condition that their original source, Levine and Renelt (1992), is acknowledged. - The webpage for obtaining levren.zip and levren.exe directly. 11/22/00 05:48p 7,437 DSlevren.htm The URL for the data is: www.worldbank.org/research/growth/ddlevren.htm - A data file extracted from levren.zip (or levren.exe). 06/10/92 01:02p 85,568 DAT6089.WK1 - The data file DAT6089.WK1 converted into PcGive format. 11/22/00 06:53p 41,328 Dat6089.bn7 11/22/00 06:53p 3,393 Dat6089.in7 - A PcGive batch file and corresponding output for transforming the data in Dat6089.in7/bn7. 11/26/00 09:40a 16,320 EIT00LRa.fl 11/26/00 02:23p 16,588 EIT00LRa.out - A PcGive data file with the data from Dat6089.in7/bn7 and the transformed data generated by running EIT00LRa.fl ("e" for extended dataset). 11/26/00 02:22p 15,174 Dat6089e.in7 11/26/00 02:22p 198,768 Dat6089e.bn7 - A PcGive batch file and corresponding output for replicating and testing some cross-country regressions in Levine and Renelt (1992). 11/26/00 05:01p 16,924 EIT00LRb.fl 11/26/00 06:48p 96,940 EIT00LRb.out - A GiveWin graphics file and equivalent .eps file for Figure 1 in Ericsson, Irons, and Tryon (2001). 11/27/00 12:41p 16,337 JAEnre01.gwg 11/27/00 12:41p 27,812 JAEnre01.eps Description of the annual data, transformations, and empirical results: - The PWT data come from two versions of the PWT program, one in IFData (at the Federal Reserve Board, online) and the other from the PWT URL. IFData appears to use the 1994 PWT56 (ver. 3c; 1/17/95 on PWT56.asc); the current WWW version is more recent (ver 5.6a; 6/15/95 on PWT56.asc). The file pwt56.zip, its contents, and the PWT data from IFData are distributed on the condition that their original source, Summers and Heston (1991), is acknowledged. - PWT data from the PWT website. - A pkzipped file containing files for installing PWT56.exe, the databank for the Penn World Tables version 5.6a. 10/26/00 08:57p 1,251,768 pwt56.zip This zipped file contains the following 30 files: 02-12-95 01:02 815de07a --w- APPEND.56_ 04-28-93 00:00 02c01c5f --w- CMDIALOG.VB_ 11-01-93 03:11 d510aac8 --w- COMMDLG.DL_ 12-14-93 00:00 6b16453f --w- DDEML.DL_ 06-08-95 17:40 e846ec80 --w- DESCRIP.BAT 02-17-95 02:18 958fe644 --w- DESCRIP.DOC 05-31-94 06:22 b515dccc --w- EXPAND.EXE 06-08-95 14:45 0d6def4e --w- GETPWT.EX_ 04-28-93 00:00 3eca2f76 --w- GRID.VB_ 12-31-94 03:54 159d2c2e --w- INVEST.AS_ 10-30-94 20:46 3e293c37 --w- INVEST.ID_ 11-22-94 08:05 6ac8db98 --w- INVEST.PR_ 06-15-95 15:44 f5e1b3a5 --w- PWT56.AS_ 06-08-95 17:53 d5ab632a --w- PWT56.EX_ 04-22-95 16:26 86e07092 --w- PWT56.HL_ 01-12-95 21:39 79610f86 --w- PWT56.ID_ 03-04-95 00:16 9218ad6e --w- PWT56W.ID_ 06-08-95 17:41 2b32f3ed --w- README.BAT 06-08-95 17:42 1b454782 --w- README.DOC 03-02-95 01:16 4b392b1d --w- READWIN.WR_ 08-23-93 12:32 67201701 --w- SETUP.EXE 06-08-95 13:01 dfad9cab --w- SETUP.LST 03-04-95 00:39 d5a7a535 --w- SETUPDOS.BAT 04-28-93 00:00 5b986fa5 --w- SETUPKIT.DL_ 06-08-95 13:23 43bcb290 --w- SETUPWT.EX_ 04-28-93 00:00 eda5e6cb --w- THREED.VB_ 06-08-95 21:30 57e23a9e --w- TOCHANGE.WRI 07-31-93 00:00 4154d890 --w- VBRUN300.DL_ 11-01-93 03:11 986d1161 --w- VER.DL_ 03-04-95 00:37 d9305ff9 --w- YESNO.EXE The URL for the data is: http://pwt.econ.upenn.edu/download/download.html - A data file extracted from pwt56.exe containing the annual real per capita chain-weighted GDP series for each of the G-7 countries. 10/28/00 05:09p 6,311 EIT00PWT.prn - An ASCII data file with the data from EIT00raw.prn, stripped of dates and names. 10/30/00 12:11p 1,941 EIT00PWT.dat - A PcGive data file with the data from EIT00PWT.dat. 10/30/00 12:14p 624 EIT00PWT.in7 10/30/00 12:14p 2,632 EIT00PWT.bn7 - PWT data from IFData. - The IFData catalog file for obtaining the annual real per capita chain-weighted GDP series for each of the G-7 countries from PWT, and annual CPI series for the G-7 countries. IFData contains online, internal (to the Federal Reserve Board) databases, including the Penn World Table and the IMF's International Financial Statistics. 12/04/00 12:43p 1,473 IFDP687.cat - The data file from IFData of the annual real per capita chain-weighted GDP series for each of the G-7 countries from PWT, and annual CPI series for the G-7 countries from the IMF's IFS. The end of the file contains comments about the data series. 10/28/00 03:15p 17,705 EIT00raw.prn - An Excel spreadsheet of EIT00raw.prn. 10/28/00 04:39p 33,280 EIT00raw.xls - An Excel spreadsheet of EIT00raw.prn without the comments at the end. 10/28/00 06:15p 24,064 EIT00sht.xls - A PcGive batch file and corresponding output for transforming the data in EIT00sht.xls. These transformations include updating the GDP series for Germany in light of two changes noted in EIT00PWT.prn. 10/30/00 10:33a 3,689 EIT00raw.fl 10/30/00 10:59a 4,012 EIT00raw.out - A PcGive data file with the data from EIT00sht.xls and the transformed data generated by running EIT00raw.fl. 10/30/00 10:57a 5,112 EIT00ann.in7 10/30/00 10:57a 29,568 EIT00ann.bn7 - A PcGive batch file and corresponding output for comparing the data in EIT00ann.in7/bn7 with the data in EIT00PWT.in7/bn7. 10/30/00 05:18p 2,846 EIT00PWT.fl 10/30/00 05:23p 3,276 EIT00PWT.out - PcGive batch file and corresponding output for standard Granger-causality tests, as reported in Ericsson, Irons, and Tryon (2001, Table 1). 10/30/00 06:35p 9,255 EIT00GCa.fl 10/30/00 06:36p 38,184 EIT00GCa.out - PcGive batch file and corresponding output for equality restrictions of coefficients across the country models used for Granger-causality tests. 11/03/00 05:45p 7,294 EIT00GCb.fl 11/03/00 05:49p 48,601 EIT00GCb.out - PcGive batch file and corresponding output for standard cointegration tests, as reported in Ericsson, Irons, and Tryon (2001, Table 2). 11/03/00 08:58p 36,454 EIT00CIa.fl 11/03/00 09:09p 244,160 EIT00CIa.out - PcGive batch files and corresponding output for equality restrictions of coefficients across the country models used for cointegration analysis. 11/04/00 08:36p 6,404 EIT00CIb.fl 11/04/00 08:44p 7,129 EIT00CIc.fl 11/04/00 08:46p 54,210 EIT00CIb.out 11/04/00 08:49p 55,218 EIT00CIc.out - PcGive batch file and corresponding output for standard ADF statistics. 11/06/00 06:24p 2,318 EIT00ADF.fl 11/06/00 06:44p 12,285 EIT00ADF.out - PcGive batch file and corresponding output for generating the artificial series for Figure 2. 11/20/00 08:23p 3,871 EIT00Fg2.fl 11/20/00 08:24p 4,214 EIT00Fg2.out - PcGive data file generated by running EIT00Fg2.fl. [Figure 2 appears in Ericsson, Irons, and Tryon (2000), but not in Ericsson, Irons, and Tryon (2001).] 11/20/00 08:24p 610 EIT00Fg2.in7 11/20/00 08:24p 28,480 EIT00Fg2.bn7 - EPS and GWG files for Figure 2, without repositioning of the z-axis labels. [Figure 2 appears in Ericsson, Irons, and Tryon (2000), but not in Ericsson, Irons, and Tryon (2001).] 11/21/00 05:47p 46,938 JAEnre02.old 11/21/00 05:47p 28,425 JAEnre02.gwg - EPS file for Figure 2, with the z-axis labels repositioned. [Figure 2 appears in Ericsson, Irons, and Tryon (2000), but not in Ericsson, Irons, and Tryon (2001).] 11/21/00 05:52p 47,014 JAEnre02.eps - The PDF file IFDP687.pdf, which is Ericsson, Irons, and Tryon (2000). 11/29/00 05:58p 246,616 IFDP687.pdf Appendix: The usual policy of the JAE Data Archive is to make all data available in plain ASCII text files. For the benefit of those who may be trying to find these, the following information is provided. For Levine and Renelt's data, the ASCII files are: 06-28-95 11:38 bfd9cb13 --w- DAT6089.TXT 06-28-95 11:37 bdd9375c --w- DAT7489.TXT 06-28-95 11:37 c465bb52 --w- BARRO.TXT For the Penn World Tables data, the ASCII files are: 10/28/00 05:09p 6,311 EIT00PWT.prn 10/30/00 12:11p 1,941 EIT00PWT.dat For IFS and additional PWT data, the ASCII file is: 10/28/00 03:15p 17,705 EIT00raw.prn