tis (version 1.39)

nberShade: Plotting NBER Recesssions

Description

nberDates returns a matrix with two columns of yyyymmdd dates giving the Start and End dates of recessions fixed by the NBER.

nberShade is a generic method for shading recession areas on the current plot. The default version calls nberDates() to get a matrix of yyyymmdd dates and then passes those dates and all other arguments along to ymdShade.

romerLines draws vertical lines on the current plot at the "Romer and Romer" dates when monetary policy is said to have become contractionary.

Usage

# S3 method for default
nberShade(...)
nberDates()
romerLines()

Arguments

…

args passed to ymdShade

Value

nberDates returns the two column matrix of recession date ranges described above. Nothing useful is returned by the other functions.

References

Christina D. Romer and David H. Romer. 1989. "Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz." NBER Macroeconomics Annual 4: 121-170.

Christina D. Romer and David H. Romer. 1994. "Monetary Policy Matters." Journal ofMonetary Economics 34 (August): 75-88.

National Bureau of Economic Research. http://www.nber.org.

See Also

polygon

Examples

# NOT RUN {
    require("datasets")
    plot(presidents, type='n', ylab="Presidents approval rating")
    nberShade()
    lines(presidents)
# }