Description

These are partly contrived data from Kmenta (1986), constructed to illustrate estimation of a simultaneous-equation model.

The Kmenta data frame has 20 rows and 5 columns.

Usage

Format

This data frame contains the following columns:

Q

food consumption per capita.

P

ratio of food prices to general consumer prices.

D

disposable income in constant dollars.

F

ratio of preceding year's prices received by farmers to general consumer prices.

A

time in years.

Details

The exogenous variables D, F, and A are based on real data; the endogenous variables P and Q were generated by simulation.

Source

Kmenta, J. (1986) Elements of Econometrics, Second Edition, Macmillan.