Grunfeld R Documentation

## Grunfeld's Investment Data

### Description

A balanced panel of 10 observational units (firms) from 1935 to 1954

### Format

A data frame containing :

firm

observation

year

date

inv

gross Investment

value

value of the firm

capital

stock of plant and equipment

### Details

total number of observations : 200

observation : production units

country : United States

### Note

The Grunfeld data as provided in package plm is the same data as used in Baltagi (2001), see Examples below.

NB:
Various versions of the Grunfeld data circulate online. Also, various text books (and also varying among editions) and papers use different subsets of the original Grunfeld data, some of which contain errors in a few data points compared to the original data used by Grunfeld (1958) in his PhD thesis. See Kleiber/Zeileis (2010) and its accompanying website for a comparison of various Grunfeld data sets in use.

### Source

Online complements to Baltagi (2001):

Online complements to Baltagi (2013):

### References

Baltagi BH (2001). Econometric Analysis of Panel Data, 3rd edition. John Wiley and Sons ltd.

Baltagi BH (2013). Econometric Analysis of Panel Data, 5th edition. John Wiley and Sons ltd.

Grunfeld Y (1958). The determinants of corporate investment. Ph.D. thesis, Department of Economics, University of Chicago.

Kleiber C, Zeileis A (2010). “The Grunfeld Data at 50.” German Economic Review, 11, 404-417. https://doi.org/10.1111/j.1468-0475.2010.00513.x.

website accompanying the paper with various variants of the Grunfeld data: https://www.zeileis.org/grunfeld/.

For the complete Grunfeld data (11 firms), see AER::Grunfeld, in the AER package.

### Examples


## Not run:
# Compare plm's Grunfeld data to Baltagi's (2001) Grunfeld data:
data("Grunfeld", package="plm")