Dataset: Technological Progress Specific to Investment

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
Source: U.S. Bureau of Economic Analysis

Personal Consumption Expenditures: Personal Consumption Expenditures, Table 1.1.5. Gross Domestic Product, NIPA
Source: U.S. Bureau of Economic Analysis

Private Non-Residential Investment: Private Non-Residential Investment, Table 1.1.5 Gross Domestic Product, NIPA
Source: U.S. Bureau of Economic Analysis

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
Source: U.S. Bureau of Labor Statistics

(Period: 1947 – 1975)
Population: Population level, Civilian Noninstitutional Population, 16 Years and Over, Labor Force Statistics from the Current Population Survey, Series ID = LNU00000000
Source: U.S. Bureau of Labor Statistics

Employment: Employment level, Employed, 16 Years and Over, All Industries, All Occupations, Labor Force Statistics from the Current Population Survey, Series ID = LNS12000000
Source: U.S. Bureau of Labor Statistics

Average Weekly Hours: Average Weekly Hours, Major Sector Productivity and Costs, Nonfarm Business, Series ID = PRS85006023
Source : U.S. Bureau of Labor Statistics

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