A data frame containing 20 annual observations on 3 variables for 5 firms.
invest
gross investment.
value
market value of the firm (at the end of the previous year).
capital
capital stock of the firm (at the end of the previous year).
firm
name of the firm ("General Motors", "Chrysler",
"General Electric", "Westinghouse" or "US Steel").
year
year.
Details
There exist several different versions of this data set,
and this version is considered incorrect
(see http://www.stanford.edu/~clint/bench/grunfeld.htm for details).
However, we provide this incorrect version to replicate the results
published in Theil (1971) and Greene (2003).
A correct version of this data set with 5 additional firms
is available in the Ecdat package
(data set Grunfeld).