The Grunfeld Data at 50

Kleiber, Christian and Zeileis, Achim (2010): The Grunfeld Data at 50.

Abstract

This paper revisits Grunfeld's well-known investment data, one of the most widely used data sets in all of applied econometrics, on the occasion of their 50th anniversary. It presents, apparently for the first time after the publication of the original Chicago Ph.D. thesis, the full data set, points out errors and inconsistencies in several currently available versions, and also revisits a number of empirical studies from the literature of the last five decades. Our findings provide a cautionary tale on the use of widely known data and underline the need for mandatory data and code archives.

• Item Type: MPRA Paper
• Language: English
• Keywords: multiple-equation models; panel data; reproducibility
• Subjects: C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C23 - Panel Data Models ; Spatio-temporal Models; C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables > C30 - General; C - Mathematical and Quantitative Methods > C8 - Data Collection and Data Estimation Methodology ; Computer Programs > C80 - General

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