Quarter DM DR1 DP1 SURP1 DM1 59.300000 0.751356 0.226667 0.191755 0.103000 0.828304 59.400000 -0.869262 0.540000 0.496848 0.044000 0.751356 60.100000 -0.259896 0.690000 0.608136 0.058000 -0.869262 60.200000 -0.165737 -0.356667 0.113615 0.188000 -0.259896 60.300000 0.943401 -0.880000 0.603775 0.126000 -0.165737 60.400000 -0.046962 -0.633333 0.037615 0.087000 0.943401 61.100000 0.538708 -0.053333 0.637303 0.096000 -0.046962 61.200000 0.767892 0.043333 0.223964 -0.004000 0.538708 61.300000 0.600882 -0.046667 -0.037292 -0.043000 0.767892 61.400000 0.940261 0.000000 0.409455 -0.034000 0.600882 62.100000 0.637094 0.156667 0.111379 -0.059000 0.940261 62.200000 0.700645 0.263333 0.407333 -0.201000 0.637094 62.300000 -0.112678 -0.010000 0.368868 -0.169000 0.700645 62.400000 0.562120 0.126667 0.257401 -0.145000 -0.112678 63.100000 1.026110 -0.026667 0.256739 -0.122000 0.562120 63.200000 0.949756 0.093333 0.329128 -0.070000 1.026110 63.300000 1.006140 0.030000 0.182382 0.029000 0.949756 63.400000 0.953003 0.356667 0.581397 -0.045000 1.006140 64.100000 0.687438 0.203333 0.289436 -0.076000 0.953003 64.200000 0.704003 0.033333 0.432589 -0.225000 0.687438 64.300000 1.623650 -0.053333 0.143781 -0.337000 0.704003 64.400000 1.288460 0.020000 0.179437 -0.220000 1.623650 65.100000 0.740592 0.186667 0.500716 -0.151000 1.288460 65.200000 0.592627 0.206667 0.320570 -0.051000 0.740592 65.300000 1.154680 -0.016667 0.638074 -0.105000 0.592627 65.400000 1.816230 -0.006667 0.282287 -0.348000 1.154680 66.100000 1.706090 0.300000 0.527149 -0.441000 1.816230 66.200000 1.063740 0.443333 0.941922 -0.397000 1.706090 66.300000 -0.288990 -0.023333 0.898727 -0.352000 1.063740 66.400000 0.269746 0.456667 0.856609 -0.492000 -0.288990 67.100000 1.014660 0.166667 0.815499 -0.547000 0.269746 67.200000 1.399680 -0.696667 0.337838 -0.715000 1.014660 67.300000 2.192170 -0.853333 0.538179 -0.707000 1.399680 67.400000 1.586030 0.640000 1.034550 -0.749000 2.192170 68.100000 1.347370 0.453333 0.958213 -0.709000 1.586030 68.200000 1.698550 0.296667 1.079320 -0.641000 1.347370 68.300000 1.928650 0.470000 0.971196 -0.763000 1.698550 68.400000 2.111430 -0.323333 1.280420 -0.520000 1.928650 69.100000 1.786810 0.390000 1.232830 -0.389000 2.111430 69.200000 0.807717 0.506667 1.217810 -0.147000 1.786810 69.300000 0.425952 0.103333 1.509340 -0.096000 0.807717 69.400000 0.765415 0.826667 1.456780 -0.184000 0.425952 70.100000 1.048990 0.330000 1.435860 -0.136000 0.765415 70.200000 0.735771 -0.143333 1.620310 -0.124000 1.048990 70.300000 1.345490 -0.533333 1.392940 -0.331000 0.735771 70.400000 1.776580 -0.346667 1.117650 -0.380000 1.345490 71.100000 1.715200 -0.976667 1.386750 -0.369000 1.776580 71.200000 2.103440 -1.513330 0.839635 -0.421000 1.715200 71.300000 1.709950 0.410000 0.943139 -0.474000 2.103440 71.400000 0.945527 0.760000 1.016360 -0.444000 1.709950 72.100000 1.935680 -0.780000 0.653775 -0.354000 0.945527 72.200000 1.633840 -0.793333 0.892018 -0.213000 1.935680 72.300000 2.046530 0.333333 0.590286 -0.448000 1.633840 72.400000 2.460580 0.450000 0.878951 -0.242000 2.046530 73.100000 1.996500 0.643333 1.002650 -0.614000 2.460580 73.200000 1.171280 0.836667 1.511230 -0.421000 1.996500 73.300000 1.183290 0.903333 2.022340 -0.393000 1.171280 73.400000 1.245250 1.720000 2.031930 -0.234000 1.183290 74.100000 1.665560 -0.823333 2.452910 -0.238000 1.245250 74.200000 0.890214 0.116667 2.936820 -0.210000 1.665560 74.300000 0.894558 0.536667 2.601170 -0.253000 0.890214 74.400000 1.200520 0.036667 2.869930 -0.062000 0.894558 75.100000 0.708670 -0.830000 3.049490 -0.199000 1.200520 75.200000 1.543970 -1.610000 2.053110 -0.328000 0.708670 75.300000 1.833420 -0.356667 1.220290 -1.242000 1.543970 75.400000 0.806734 0.936667 1.987640 -0.643000 1.833420 76.100000 1.334040 -0.703333 1.848330 -0.680000 0.806734 76.200000 1.628970 -0.710000 1.140580 -0.567000 1.334040 76.300000 1.064080 0.240000 0.832182 -0.469000 1.628970 76.400000 1.943510 -0.006667 1.546780 -0.528000 1.064080 77.100000 2.298210 -0.476667 1.427490 -0.561000 1.943510 77.200000 1.718220 -0.043333 1.840840 -0.331000 2.298210 77.300000 1.689200 0.210000 1.770610 -0.441000 1.718220 77.400000 2.092150 0.656667 1.376040 -0.682000 1.689200 78.100000 1.921800 0.613333 1.447210 -0.601000 2.092150 78.200000 2.193200 0.283333 1.691790 -0.572000 1.921800 78.300000 2.023920 0.083333 2.286910 -0.440000 2.193200 78.400000 1.771440 0.836667 2.269530 -0.429000 2.023920 79.100000 1.221600 1.256670 2.318120 -0.417000 1.771440 79.200000 1.827280 0.813333 2.458800 -0.223000 1.221600 79.300000 3.401510 -0.006667 3.197490 -0.123000 1.827280 79.400000 1.120030 0.296667 3.143710 -0.306000 3.401510 80.100000 1.082200 2.170000 3.121070 -0.335000 1.120030 80.200000 -1.494280 1.510000 3.860710 -0.435000 1.082200 80.300000 4.787210 -3.736670 3.323020 -0.454000 -1.494280 80.400000 2.670280 -0.463333 1.835160 -0.458000 4.787210 81.100000 0.430245 4.460000 2.795170 -0.398000 2.670280 81.200000 1.647980 0.776667 2.693850 -0.226000 0.430245 81.300000 1.652030 0.516667 2.066840 -0.169000 1.647980 81.400000 1.230860 0.146666 2.751290 -0.274000 1.652030 82.100000 1.807140 -3.303330 1.615160 -0.440000 1.230860 82.200000 0.417009 1.063330 0.897925 -0.351000 1.807140 82.300000 2.132120 -0.393333 1.401560 -0.311000 0.417009 82.400000 3.936900 -3.103330 1.736170 -0.630000 2.132120 83.100000 2.534230 -1.410000 0.318655 -0.917000 3.936900 83.200000 2.790380 0.200000 0.102209 -0.838000 2.534230 83.300000 2.733980 0.290000 1.151120 -0.803000 2.790380 83.400000 1.612830 0.743333 0.993698 -0.966000 2.733980 84.100000 1.537230 -0.340000 0.950915 -1.000000 1.612830 84.200000 1.581670 0.370000 1.290200 -1.044000 1.537230 84.300000 1.071160 0.626667 0.994496 -1.210000 1.581670 84.400000 1.059810 0.523333 0.888801 -1.295000 1.071160 85.100000 2.663020 -1.516670 0.817542 -1.419000 1.059810 85.200000 2.571070 -0.620000 0.821403 -1.217000 2.663020 85.300000 3.494150 -0.723333 1.115930 -1.675000 2.571070 85.400000 2.674520 -0.353333 0.579113 -1.619000 3.494150 /* Data description: DM = Quarterly M1 growth rate DR1 = Lag of change in 3-month T-bill interest rate DP1 = Lag of inflation rate as measured by the CPI SURP1 = Lag of detrended full employment budget surplus DM1 = lag of DM Data source: C-J. Kim and C. R. Nelson, "The Time-Varying-Parameter Model for Modeling Changing Conditional Variance: The case of the Lucas Hypothesis," Journal of Business and Economic Statistics, 1989, 433-440. */