Replication Data for: Unconventional Monetary Policies and Consumer Consumption: The Role of Shadow Short Rates

Purpose: The main objective of this dataset is to provide empirical evidence for the Permanent Income Model. Nature: The dataset comprises several variables integral to testing the Permanent Income Model. These variables include: 1. Real total consumption expenditures 2. Real labour income growth 3. Real S&P 500 index prices 4. Three-month Treasury bill 5. Wu and Xia shadow short rate 6. Dummy variable - a control factor 7. Complete dataset - includes all the above variables. Scope: The scope of datasets is from 1990:1 - 2019:4 . Datasets are quarterly observations.