/* mpeppext_readme.txt: provides information on the contents of mpeppext.txt. */

mpeppext.txt: 15x6 data matrix, containing date, RF, PC, C, D, P.

RF: nominal risk-free rate, taken as the annual average nominal return on 3-Month T Bills

PC: nominal/real consumption of non-durables and services

C: per capita consumption of nondurables and services, real

D: Dividends corresponding to P, Deflated by Annual Average PPI

P: January values of the S&P Composite Stock Price Index, Deflated by January PPI

Data range: 1980 - 2004, annual.

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Sources and information on construction:

RF

Source: http://research.stlouisfed.org/fred2/
Federal Reserve Bank of St. Louis FRED II data base.

Title:              	3-Month Treasury Bill: Secondary Market Rate
Series ID:          	TB3MS
Source:             	Board of Governors of the Federal Reserve System
Release:            	H.15 Selected Interest Rates
Seasonal Adjustment:	Not Applicable
Frequency:          	Monthly
Units:              	Percent
Date Range:         	1934-01-01 to 2005-04-01
Last Updated:       	2005-05-03 10:37 AM CT
Notes:              	Averages of Business Days, Discount Basis
Converted to annual data using annual averages.

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PC = Nominal C/Real C

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Nominal C = nondurable consumption (nominal) + services consumption (nominal)


Source:

http://www.bea.doc.gov/
Table 2.3.5. Personal Consumption Expenditures by Major Type of Product [Billions of dollars]
Bureau of Economic Analysis	
Downloaded on 5/3/2005 At 12:27:46 PM    Last Revised April 28, 2005    	

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Real C = [nondurable consumption (nominal)]/[nondurable price index] + 
         [services consumption (nominal)]/[services price index]

Source of price indexes:

http://www.bea.doc.gov/
Table 2.3.4. Price Indexes for Personal Consumption Expenditures by Major Type of Product [Index numbers,2000=100]
Bureau of Economic Analysis				
Downloaded on 5/3/2005 At 12:58:49 PM    Last Revised April 28, 2005    				

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C = Real C/Population

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Population:

Source: http://research.stlouisfed.org/fred2/
Federal Reserve Bank of St. Louis FRED II data base.

Title:              	Civilian Noninstitutional Population
Series ID:          	CNP16OV
Source:             	U.S. Department of Labor: Bureau of Labor Statistics
Release:            	The Employment Situation
Seasonal Adjustment:	Not Seasonally Adjusted
Frequency:          	Monthly
Units:              	Thousands
Date Range:         	1948-01-01 to 2005-03-01
Last Updated:       	2005-04-01 10:06 AM CT
Notes:              	The Bureau of Labor Statistics (BLS) announced several revisions to
	the Household Survey on Friday Feb.7th 2003, with the release of the
	January 2003 Data. They introduced the Census 2000 population
	controls (which affect data back to 2000 and cause a break in the
	data in January 2000), a new seasonal adjustment procedure, and new
	seasonal factors back to January 1998. For further information
	contact the Current Employment Statistics (CES) homepage at
	www.bls.gov/ces or by calling 202-691-6555.
Converted to annual data using annual averages.

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D & P:

These are an update of data shown in Chapter 26 of Market Volatility, R. Shiller, MIT Press, 1989.

The data were downloaded from:

http://www.econ.yale.edu/~shiller/data/chapt26.xls