The data were updated upto 1988. The quarterly series after 1952 is converted to annual series. Except the replacement cost of capital which is year end value, the others are annual averages. cpia.db: consumer price index diva.db: dividend paid by non-financial corporations dpa.db: dividend-price ratio inv.db: investment on equipment and structure of non-fincial corporations p%ea.db: price-earning ratio (from 1906-) profita.db: after tax profits of non-fincial corporations (from 1916-) qa.db: q ratio stockpa.db: stock price index tangka.db: replacement cost of tangible capital stock mvequity: market value of equity; dividend from non-financial corporation divided by dividend-price ratio. (not extended after 1959) mvdebt: market value of debt: converting book value of net debt using Aaa rate and 20 year maturity. (not extended after 1959) NIA: non-interest bearing asset cpia.db diva.db dpa.db inv.db qa.db stockpa.db tangka.db 1900 1900 1900 1900 1900 1900 1900 1990 1990 1990 1990 1990 1990 1988 0.084 0.46687 4.50 1.485 0.60722 6.15 19.00611 0.084 0.54965 3.85 1.502 0.81125 7.84 19.93863 0.087 0.87408 3.71 1.837 1.23872 8.42 21.39744 0.091 0.90540 4.65 2.066 0.98674 7.21 22.64682 0.091 0.93225 4.18 1.86 1.08545 7.05 23.74816 0.091 0.99862 3.53 1.976 1.28335 8.99 25.57799 0.091 1.11795 3.96 2.378 1.18924 9.64 27.76982 0.094 1.20148 5.38 2.696 0.90469 7.84 29.38933 0.091 1.15300 4.93 2.004 0.92504 7.78 30.26768 0.091 1.21491 4.31 2.317 1.05977 9.71 31.99641 0.094 1.39315 4.84 2.789 1.03116 9.35 33.70890 0.094 1.37451 4.92 2.551 0.97369 9.24 35.18757 0.097 1.44312 4.85 2.85 0.98772 9.53 36.97046 0.100 1.72354 5.37 3.07 0.98003 8.51 39.01154 0.101 1.32901 5.01 2.342 0.79092 8.08 40.47396 0.102 1.52739 4.98 2.096 0.80883 8.31 44.33946 0.110 1.97935 5.62 3.12 0.77513 9.47 52.37828 0.129 2.39923 7.82 4.141 0.53843 8.5 64.44239 0.151 1.99576 7.24 4.727 0.39600 7.54 75.14427 0.174 1.92863 5.75 4.628 0.39337 8.78 90.47987 0.201 2.18593 6.13 5.902 0.38982 7.98 91.69315 0.180 1.89955 6.49 4.236 0.35648 6.86 80.80531 0.168 2.12180 5.80 4.51 0.46291 8.41 83.09914 0.171 2.63714 5.94 6.115 0.50341 8.57 88.81795 0.172 2.71769 5.87 5.444 0.49531 9.05 91.37719 0.176 3.20097 5.19 5.9 0.63100 11.15 95.50628 0.178 3.70363 5.32 6.428 0.67947 12.59 99.27699 0.174 3.99300 4.77 5.972 0.78721 15.34 103.09374 0.172 4.29505 3.98 6.09 0.98088 19.95 107.24451 0.172 4.91630 3.48 6.87 1.25887 26.02 109.49591 0.168 4.88722 4.26 5.41 1.11039 21.03 100.99760 0.153 3.65068 5.58 3.23 0.70760 13.66 88.00639 0.137 2.32614 6.69 1.804 0.35729 6.93 78.45820 0.130 1.90328 4.05 1.632 0.56846 8.96 80.44962 0.135 2.69233 3.92 2.121 0.90533 9.84 81.45888 0.138 3.26660 3.88 2.51 1.16509 10.6 81.71255 0.139 4.16677 4.35 3.38 1.28278 15.47 86.63153 0.144 4.23166 4.87 4.613 1.15208 15.41 90.10795 0.142 2.66250 4.30 3.422 0.89062 11.49 89.47243 0.140 3.20171 4.14 3.733 1.08110 12.06 91.69856 0.141 3.30612 5.26 4.811 0.82309 11.02 96.55616 0.148 3.73720 6.23 5.905 0.67299 9.82 107.09284 0.164 3.40606 6.64 4.761 0.50862 8.67 113.77306 0.174 3.52390 4.89 4.093 0.64289 11.5 117.30003 0.177 3.72452 4.83 5.409 0.63230 12.47 120.27182 0.181 3.71333 4.17 7.858 0.65674 15.16 128.91908 0.196 4.60680 3.93 11.8 0.77033 17.08 164.65822 0.224 5.27056 5.12 15.299 0.58199 15.17 198.85370 0.242 5.91940 5.77 17.318 0.52521 15.53 225.24956 0.240 5.88659 6.62 15.766 0.43869 15.23 226.71199 0.242 7.28943 6.28 17.373 0.49567 18.4 260.85327 0.261 7.13804 6.11 20.942 0.46504 22.34 291.44687 0.2674167 7.1 5.8025 22.713 0.4822848 24.4975 305.321 0.2693333 7.3 5.80075 24.883 0.467765 24.73167 322.329 0.2703333 7.425 4.94925 24.364 0.5270463 29.68917 335.663 0.2695 8.45 4.07575 26.951 0.6494858 40.49333 367.243 0.2735 9.049999 4.09 32.115 0.6359107 46.62333 410.15 0.28275 9.275 4.34825 34.881 0.573377 44.38 439.428 0.2904167 9.3 3.97175 29.584 0.6021557 46.23833 453.054 0.2929167 9.975 3.225 31.896 0.7323073 57.37833 476.794 0.2975 10.55 3.466 34.865 0.7073427 55.85 493.127 0.3008333 10.55 2.9785 34.208 0.7938795 66.2725 508.703 0.30425 11.375 3.3735 36.745 0.7496698 62.3825 526.992 0.30825 12.625 3.16775 38.897 0.844269 69.865 547.273 0.3121667 13.675 3.01175 43.108 0.9136257 81.36833 575.931 0.3170833 15.65 2.9965 52.104 0.9929402 88.17 617.31 0.3265833 16.825 3.404 61.096 0.8991283 85.25667 677.631 0.3355833 17.5 3.20425 61.967 0.9202833 91.92833 726.697 0.3496667 19.125 3.069 66.924 0.9620737 98.695 789.688 0.3688333 19.125 3.23675 74.608 0.8660848 97.83833 865.189 0.39025 18.525 3.8265 76.16901 0.6992195 83.22 934.126 0.4071667 18.475 3.1415 77.966 0.764377 98.29 1007.242 0.4205833 20.125 2.8415 87.586 0.8267922 109.2017 1087.014 0.44675 21.075 3.06 103.789 0.7547127 107.4275 1228.528 0.4959167 21.7 4.474 116.939 0.510897 82.845 1516.552 0.5413333 24.8 4.31175 117.959 0.4698073 86.15583 1643.926 0.57225 27.8 3.76675 132.117 0.5077778 102.01 1795.527 0.6094167 31.925 4.62 156.663 0.457169 98.20333 1993.945 0.65575 37.25 5.281 190.601 0.4146075 96.01667 2305.779 0.7306666 39.25 5.466 223.865 0.374213 103.0133 2613.313 0.82925 45.5 5.255 238.163 0.3846725 118.775 2983.28 0.91425 53.425 5.195 270.547 0.3934225 128.045 3356.918 0.969 59.7 5.8135 267.666 0.3952095 119.7142 3501.99 0.9984167 66.5 4.4025 260.988 0.522664 160.4108 3605.531 1.032583 69.5 4.64275 308.442 0.5214708 160.4608 3843.923 1.069167 72.15 4.24825 329.481 0.5780557 186.8433 3992.822 1.08575 74.45 3.485 316.05 0.7034428 236.345 4150.772 1.124833 81.8 3.0785 318.049 0.8019177 286.8308 4380.424 1.1695 80.825 3.64425 351.768 0.6760743 265.7867 4634.899 1.225833 104.825 3.452 365.494 0.8731573 322.8417 4873.847 1.290417 117.65 3.60675 373.944 0.9039985 334.5883 5034.007 p%ea.db profita.db **1906 ***1916 1990 1990 12.642 8.11757 11.82 7.84310 13.45 4.52441 12.70 6.14836 12.85 4.05933 17.07 -0.59142 14.83 4.70630 14.69 6.33678 17.05 5.28465 10.34 7.11772 6.75 7.42813 7.23 6.01875 8.31 7.95855 10.28 9.09565 10.84 3.36335 25.9 -0.54350 13.24 -3.24137 9.60 -0.26794 10.64 1.91149 9.76 3.24028 10.88 5.31079 15.91 5.34891 17.64 2.26983 13.32 5.13870 15.81 6.22678 13.31 9.14030 16.80 9.98223 22.95 10.89169 19.39 9.91252 17.67 8.19926 17.40 14.22672 12.48 18.79251 16.03 20.47419 14.92 15.37253 10.48 22.69827 8.62 18.61607 8.76 15.928 11.41 16.431 13.87 16.429 15.89 21.837 18.3175 21.775 10.4375 20.699 7.985 17.526 6.4925 22.419 7.15 20.487 8.57 20.061 10.5725 23.448 9.7675 26.196 11.7475 31.36 12.5875 37.943 13.2475 40.774 12.7275 38.627 16.3325 39.483 17.32 36.191 16.98 29.831 21.675 35.622 17.3875 42.842 18.195 56.203 18.805 64.912 17.915 67.293 15.1475 85.104 17.4775 100.424 17.6525 114.404 16.4775 125.588 15.69 114.697 18.495 117.786 18.1975 83.604 14.2175 100.212 8.94 122.782 10.9925 100.737 11.25 81.366 9.2775 124.295 8.3325 149.25 7.45 140.401 8.025 133.143 8.4 8.825 12.5 9.975 12.45 16.475 18.7 12.55 13.65 15.525 (This is a file for raw series which are adjusted later to be combined with quarterly data.) year mvequity mvdebt NIA K q inv GNP 1900 13.911 6.94 6.33 21.054 0.689702 1.485 18.684 1901 19.142 8.27 7.06 22.087 0.921447 1.502 20.668 1902 31.59 9.56 7.8 23.703 1.406994 1.837 21.554 1903 26.107 10.55 8.54 25.087 1.120779 2.066 22.864 1904 29.904 11.81 9.28 26.307 1.232903 1.86 22.85 1905 37.932 13.39 10.02 28.334 1.457683 1.976 25.116 1906 37.853 14.46 10.76 30.762 1.350789 2.378 28.72 1907 29.944 15 11.49 32.556 1.027583 2.696 30.404 1908 31.359 16.1 12.23 33.529 1.050702 2.004 27.699 1909 37.795 17.84 12.97 35.444 1.203729 2.317 32.166 1910 38.595 18.85 13.71 37.341 1.171232 2.789 33.36 1911 37.459 20.1 14.45 38.979 1.105954 2.551 34.268 1912 39.896 21.24 15.19 40.954 1.121892 2.85 37.311 1913 43.035 21.65 16.58 43.215 1.113155 3.07 39.067 1914 35.568 22.68 17.97 44.835 0.898360 2.342 36.424 1915 41.124 23.37 19.37 49.117 0.918704 2.096 38.738 1916 47.224 24.62 20.76 58.022 0.880424 3.12 49.768 1917 41.138 24.68 22.16 71.386 0.611576 4.141 59.945 1918 36.961 24.03 23.55 83.241 0.449790 4.727 76.176 1919 44.973 24.75 24.94 100.229 0.446806 4.628 78.907 1920 47.814 23.5 26.34 101.573 0.442775 5.902 88.856 1921 39.244 24.73 27.73 89.512 0.404906 4.236 73.938 1922 49.051 28.48 29.13 92.053 0.525794 4.51 73.99 1923 59.528 30.41 33.68 98.388 0.571797 6.115 86.115 1924 62.078 33.11 38.24 101.223 0.562599 5.444 87.561 1925 82.697 35.93 42.8 105.797 0.716721 5.9 91.308 1926 93.345 38.88 47.35 109.974 0.771773 6.428 97.694 1927 112.243 41.78 51.91 114.202 0.894143 5.972 96.279 1928 144.698 44.13 56.47 118.8 1.114124 6.09 98.164 1929 189.425 45.04 61.03 121.294 1.429872 6.87 04.436 1930 153.826 46.31 59.03 111.88 1.261226 5.41 90.4 1931 87.724 47.66 57.03 97.489 0.803721 3.23 75.8 1932 46.621 43.68 55.03 86.912 0.405824 1.804 58 1933 63.012 47.57 53.04 89.118 0.645683 1.632 55.6 1934 92.091 50.33 49.63 90.236 1.028314 2.121 65.1 1935 112.886 53.12 46.22 90.517 1.323353 2.51 72.2 1936 128.436 54.2 42.81 95.966 1.457036 3.38 82.5 1937 116.509 53.51 39.4 99.817 1.308584 4.613 90.4 1938 83.023 53.23 35.99 99.113 1.011602 3.422 84.7 1939 103.695 53.63 32.59 101.579 1.227960 3.733 90.5 1940 84.277 51.69 35.97 106.96 0.934900 4.811 99.7 1941 80.433 49.61 39.36 118.632 0.764405 5.905 124.5 1942 68.78 46.78 42.75 126.032 0.577710 4.761 157.9 1943 96.625 44.4 46.14 129.939 0.730227 4.093 191.6 1944 103.395 41.82 49.53 133.231 0.718188 5.409 210.1 1945 119.4 40.05 52.92 142.81 0.745956 7.858 211.9 1946 157.175 53.99 51.57 182.4 0.874972 11.8 208.5 1947 138.027 62.82 55.23 220.28 0.661054 15.299 231.3 1948 138.422 68.44 58.01 249.52 0.596553 17.318 257.6 1949 119.229 68.64 62.73 251.14 0.498283 15.766 256.5 1950 155.636 80.78 73.73 288.96 0.563005 17.373 284.8 1951 156.644 95.06 81.17 322.85 0.528214 20.942 328.4 1952 173.533 97.28 85.14 338.28 0.548873 22.08 345.5 1953 177.923 96.94 83.68 356.42 0.536398 24.071 364.6 1954 207.663 102.79 101.1 369.5 0.566584 23.409 364.8 1955 279.407 105.65 114.23 396.89 0.682372 25.186 398 1956 293.636 114.31 118.65 437.14 0.661792 30.728 419.2 1957 280.9 112.47 113.18 479.01 0.584935 33.355 441.1 1958 302.718 121.66 136.74 489.94 0.587088 27.721 447.3  quarterly series from 1952:1 to 1990:4 div: dividends paid by non-financial corporations. div/p: dividend-price ratio ( standard & poors' index) netint: net interest paid by non-financial corporations. (annual figure) nonina: non-interest bearing assets in non-financial corporations'balance mvsd: market value of net short-term debt ( equal to book value) lial: book value of net long-term debt. mvequity: market value of equity, dividends/ dividend-price ratio. moody a: moody's corporate a bond's yield rate. mvld: market value of long-term debt. conversion from book value capitalizing net interest paid data using moody's a rate. tang.k: replacement cost of tangible asset. numera: numerator of q; mvequity+mvld+mvsd-nonina q: numera/tang.k p%e.dat: price earning ratio pgnp.dat: gnp deflator profit.dat: after tax profit of non-financial corporations After tax profit in nonfinancial corporation. (nfc@zb(profits before tax)-nfc@tzacc(profit tax accruals))*4/1000. 4 is multiplied to have annual numbers. stockp.dat: stock price index year div div/p netint inv nonina mvsd lial 1952.1 6.7 5.917 1.2 5.745 32.965 4.563 57.065 1952.2 7.3 5.927 1.2 5.988 38.243 5.399 59.001 1952.3 7.1 5.683 1.3 5.216 39.664 5.567 60.531 1952.4 7.3 5.683 1.3 5.764 38.382 6.164 61.712 1953.1 6.9 5.483 1.3 6.112 39.29 5.802 62.396 1953.2 7.5 5.837 1.2 6.14 42.262 7.356 63.886 1953.3 7.5 5.97 1.3 6.363 41.052 5.861 64.748 1953.4 7.3 5.913 1.4 6.268 39.053 4.251 66.113 1954.1 7.7 5.59 1.4 6.076 42.092 5.304 66.812 1954.2 7.1 5.083 1.5 6.075 47.791 7.456 68.406 1954.3 7.5 4.657 1.6 6.194 48.149 5.724 70.316 1954.4 7.4 4.467 1.7 6.019 46.685 5.218 71.279 1955.1 8 4.343 1.6 5.976 49.991 5.151 71.904 1955.2 8.3 4.143 1.6 6.421 53.081 6.452 73.39 1955.3 8.7 3.77 1.7 7.005 50.965 5.401 74.549 1955.4 8.8 4.047 1.7 7.549 46.634 4.69 76.162 1956.1 8.9 4.15 1.6 7.624 50.169 8.458 76.602 1956.2 9 4.04 1.7 7.887 54.388 12.962 78.306 1956.3 8.9 3.96 1.8 8.243 55.1 13.809 79.991 1956.4 9.4 4.21 1.9 8.361 53.404 14.228 81.265 1957.1 9.3 4.44 2 8.614 56.017 14.851 82.674 1957.2 9.2 4.193 2.1 8.621 60.832 17.948 84.618 1957.3 9.3 4.143 2.3 8.933 61.176 17.108 86.853 1957.4 9.3 4.617 2.4 8.713 58.922 16.619 88.929 1958.1 9.4 4.44 2.5 7.761 63.596 16.774 90.886 1958.2 9.4 4.2 2.7 7.345 67.905 18.022 92.706 1958.3 9.3 3.817 2.8 7.112 69.631 16.618 95.146 1958.4 9.1 3.43 2.9 7.366 67.567 15.04 97.429 1959.1 9.7 3.27 3 7.594 67.598 13.565 98.311 1959.2 10 3.233 3.1 7.847 69.23 14.435 100.281 1959.3 10.1 3.17 3.2 8.206 69.78 12.663 101.907 1959.4 10.1 3.227 3.3 8.249 68.484 13.098 103.594 1960.1 10.4 3.407 3.4 8.814 70.075 15.6 104.2 1960.2 10.5 3.46 3.4 8.907 72.478 18.976 105.967 1960.3 10.8 3.49 3.5 8.612 75.439 20.013 107.732 1960.4 10.5 3.507 3.7 8.532 74.3 20.806 109.664 1961.1 10.3 3.147 3.7 8.282 76.19 20.735 110.316 1961.2 10.5 2.953 3.9 8.558 80.102 20.254 113.431 1961.3 10.5 2.947 4.1 8.551 81.642 20.639 115.383 1961.4 10.9 2.867 4.3 8.817 81.576 22.292 118.053 1962.1 11.1 2.957 4.3 8.936 81.745 19.942 119.29 1962.2 11.5 3.383 4.4 9.217 85.279 22.334 122.279 1962.3 11.7 3.617 4.6 9.35 87.627 24.215 124.162 1962.4 11.2 3.537 4.8 9.242 89.047 26.001 126.727 1963.1 12.1 3.287 4.6 9.182 86.349 21.162 127.907 1963.2 12.6 3.147 4.8 9.578 89.461 22.478 130.628 1963.3 12.8 3.13 4.9 9.908 91.075 22.946 132.626 1963.4 13 3.107 5.1 10.229 90.417 25.217 135.194 1964.1 13 3.043 5.2 10.283 90.179 22.647 135.751 1964.2 13.6 3.02 5.3 10.649 94.401 25.279 137.886 1964.3 13.8 2.997 5.3 10.999 97.34 26.877 139.6629 1964.4 14.3 2.987 5.5 11.177 96.095 30.007 141.883 1965.1 14.4 2.99 5.7 12.114 97.55 31.184 142.746 1965.2 15.1 2.98 6 12.622 102.156 35.367 145.256 1965.3 16 3.043 6.2 13.244 102.985 36.2 147.774 1965.4 17.1 2.973 6.6 14.124 101.992 40.737 148.945 1966.1 17.3 3.103 6.7 14.815 102.901 40.488 152.364 1966.2 16.9 3.27 7.1 15.226 108.562 46.898 156.3999 1966.3 16.8 3.573 7.6 15.461 107.494 48.922 159.695 1966.4 16.3 3.67 8.1 15.594 105.743 52.211 161.9989 1967.1 17.3 3.387 8.4 15.303 108.684 53.751 164.8289 1967.2 18.2 3.207 8.5 15.437 116.902 60.772 169.485 1967.3 17.8 3.11 8.9 15.415 120.198 59.906 174.94 1967.4 16.7 3.113 9.4 15.812 119.152 61.053 178.758 1968.1 18.8 3.25 9.3 16.614 119.073 58.897 181.21 1968.2 18.7 3.063 9.7 16.327 124.432 64.253 185.658 1968.3 19.4 3.033 10.4 16.609 125.526 66.473 189.728 1968.4 19.6 2.93 11.1 17.374 126.239 70.116 193.8719 1969.1 19.1 3.11 11.9 17.931 130.372 70.978 196.567 1969.2 19.3 3.103 12.7 18.374 142.016 82.6 199.968 1969.3 18.9 3.347 13.7 19.116 146.177 88.304 202.542 1969.4 19.2 3.387 14.5 19.187 145.113 93.09 205.0379 1970.1 18.4 3.613 15.6 19.033 150.475 94.905 207.029 1970.2 18.7 4.023 16.8 19.235 157.145 100.171 213.3179 1970.3 18.3 4.03 17.8 19.347 160.27 101.184 219.684 1970.4 18.7 3.64 18.2 18.554 159.294 101.382 225.674 1971.1 19.2 3.2 18 18.955 161.736 96.819 231.1349 1971.2 17.9 3.043 18 19.465 168.104 97.906 237.787 1971.3 19.4 3.133 17.9 19.59 174.395 98.566 242.2489 1971.4 17.4 3.19 18.5 19.956 170.441 94.49 247.071 1972.1 20.3 2.913 18.3 20.922 178.125 93.586 249.797 1972.2 20.1 2.86 18.5 21.473 187.365 97.773 254.953 1972.3 20.1 2.843 19.3 21.96 191.477 100.923 259.1019 1972.4 20 2.75 20.6 23.231 189.875 103.542 262.5669 1973.1 20.1 2.773 20.9 24.381 194.9 105.253 266.29 1973.2 20.9 2.987 21.8 25.463 200.38 109.097 280.8299 1973.3 21.6 3.11 22.9 26.531 206.437 111.979 293.577 1973.4 21.7 3.37 24.3 27.414 202.468 113.855 298.881 1974.1 20.5 3.7 26.2 27.79 207.833 115.261 302.247 1974.2 23 3.96 27.9 28.837 216.563 130.452 308.8909 1974.3 22 4.923 29.2 29.876 219.961 136.828 311.933 1974.4 21.3 5.313 30 30.436 246.672 144.034 316.1149 1975.1 24.9 4.7 29.1 28.94 254.675 135.666 322.812 1975.2 24.4 4.147 29 28.97 270.673 132.72 333.362 1975.3 24.3 4.257 28.5 29.711 269.559 122.894 340.308 1975.4 25.6 4.143 28.2 30.338 267.474 114.105 347.419 1976.1 24.6 3.707 28 31.311 284.383 107.787 353.4679 1976.2 27.6 3.723 27.3 32.491 291.266 108.017 362.737 1976.3 28.6 3.697 27.2 33.731 295.57 106.609 372.8049 1976.4 30.4 3.94 27.5 34.584 292.167 107.154 379.603 1977.1 29.8 4.19 27.6 36.569 298.834 110.541 386.651 1977.2 30.7 4.547 29.5 38.377 318.886 123.883 397.713 1977.3 32.1 4.71 32.3 39.866 321.783 126.606 410.397 1977.4 35.1 5.033 33 41.851 327.947 130.884 423.312 1978.1 35.3 5.477 33.7 42.743 341.921 136.785 428.534 1978.2 34.5 5.27 35.2 47.541 361.92 146.687 443.888 1978.3 38.5 5.05 36.3 49.224 368.18 149.885 455.6629 1978.4 40.7 5.327 38.2 51.093 354.134 139.725 461.75 1979.1 39.7 5.407 39.9 53.499 369.067 146.66 462.1709 1979.2 39.8 5.487 41.5 54.369 390.291 161.348 470.295 1979.3 37.6 5.37 45.1 57.366 399.364 168.878 477.2219 1979.4 39.9 5.6 47.5 58.631 404.153 174.18 478.8439 1980.1 39.2 5.507 55.3 61.165 409.95 193.714 476.334 1980.2 52.4 5.737 56 57.955 415.384 192.096 484.155 1980.3 43.8 5.053 55.6 58.799 421.115 196.992 491.754 1980.4 46.6 4.723 55.2 60.244 413.384 192.911 496.439 1981.1 50.3 4.893 58.7 63.396 434.278 199.187 501.183 1981.2 52.4 4.957 63.2 66.136 449.063 211.7 519.5689 1981.3 54.6 5.343 74.1 69.709 443.515 229.455 531.343 1981.4 56.4 5.587 74.1 71.306 432.284 225.386 528.1489 1982.1 57.8 6.097 79.3 70.755 439.533 245.615 520.533 1982.2 57.9 6.08 80.2 67.522 445.349 267.04 517.6179 1982.3 60.9 6.087 73.6 65.398 431.81 269.639 516.2589 1982.4 62.2 4.99 73.4 63.991 404.977 240.224 516.2529 1983.1 64.4 4.707 69.4 62.671 422.284 243.738 532.2609 1983.2 66.1 4.343 68.3 62.49 438.255 244.518 539.4959 1983.3 66.7 4.267 69.9 66.162 427.589 244.131 549.845 1983.4 68.8 4.293 71.5 69.665 437.941 252.273 557.193 1984.1 68.9 4.497 73.1 72.16 444.187 279.669 564.916 1984.2 70.8 4.74 77.6 76.427 439.83 312.416 579.502 1984.3 69.7 4.697 83.2 78.508 442.952 340.64 598.604 1984.4 68.6 4.637 87.2 81.347 456.979 346.346 626.097 1985.1 69.2 4.393 83.8 81.601 460.272 368.427 631.678 1985.2 76.2 4.297 80.9 83.283 478.474 387.669 650.724 1985.3 70.9 4.23 79.5 80.553 466.821 392.961 668.097 1985.4 72.3 4.073 80.1 84.044 483.217 397.891 703.244 1986.1 72.3 3.707 84.1 80.684 505.433 405.245 736.561 1986.2 77.1 3.403 86.6 79.455 524.921 407.384 782.757 1986.3 73.2 3.407 90 77.793 538.468 418.453 818.508 1986.4 75.2 3.423 93 78.118 547.44 419.113 848.224 1987.1 78.9 3.03 93 76.018 576.206 423.491 898.59 1987.2 79.6 2.977 93.2 78.833 595.701 433.262 923.609 1987.3 80.7 2.767 93.2 81.673 604.759 431.38 948.835 1987.4 88 3.54 93.4 81.525 594.644 436.913 967.287 1988.1 72.8 3.567 94.9 85.177 602.316 458.604 985.303 1988.2 77.3 3.65 95.9 89.108 621.073 483.829 1024.708 1988.3 90.4 3.697 98.5 89.051 626.796 496.217 1041.048 1988.4 82.8 3.663 102.7 88.432 637.483 531.133 1068.152 1989.1 107.3 3.637 110.5 90.919 625.096 554.886 1084.095 1989.2 101.3 3.517 119.6 91.212 644.357 577.259 1115.213 1989.3 106.6 3.317 125 92.441 638.024 598.072 1131.715 1989.4 104.1 3.337 126.9 90.922 632.9 590.077 1152.024 1990.1 118.5 3.48 126.6 93.782 635.84 615.003 1151.196 1990.2 112.3 3.437 128.9 91.999 649.573 615.513 1179.272 1990.3 115.5 3.623 128.6 93.993 645.496 617.991 1193.283 1990.4 124.3 3.887 129.3 94.17 622.538 588.017 1214.954 mvequit moodya mvld tangk nomina q inv/k 1952.1 113.2330 3.27 51.42299 293.359 136.2540 0.464461 0.019583 1952.2 123.1651 3.2 53.15252 297.365 143.4737 0.482483 0.020136 1952.3 124.9340 3.206 55.08711 301.37 145.9241 0.484202 0.017307 1952.4 128.4532 3.233 55.81259 305.321 152.0478 0.497993 0.018878 1953.1 125.8435 3.303 55.96037 309.573 148.3158 0.479098 0.019743 1953.2 128.4906 3.563 54.89842 313.825 148.4830 0.473139 0.019565 1953.3 125.6281 3.58 56.25413 318.077 146.6912 0.461181 0.020004 1953.4 123.4567 3.423 58.85650 322.329 147.5112 0.457642 0.019445 1954.1 137.7459 3.253 60.25499 325.6625 161.2129 0.495030 0.018657 1954.2 139.6812 3.16 62.77089 328.996 162.1171 0.492763 0.018465 1954.3 161.0478 3.15 65.07586 332.3295 183.6987 0.552760 0.018638 1954.4 165.6592 3.2 66.34094 335.663 190.5332 0.567632 0.017931 1955.1 184.2044 3.166 66.14411 343.558 205.5085 0.598177 0.017394 1955.2 200.3379 3.206 66.99215 351.453 220.7010 0.627967 0.018269 1955.3 230.7692 3.276 68.26334 359.348 253.4685 0.705356 0.019493 1955.4 217.4450 3.306 69.24551 367.243 244.7465 0.666443 0.020555 1956.1 214.4578 3.293 68.79612 377.9697 241.5429 0.639053 0.020170 1956.2 222.7722 3.453 69.87753 388.6965 251.2238 0.646323 0.020290 1956.3 224.7474 3.626 70.82934 399.4232 254.2858 0.636632 0.020637 1956.4 223.2779 3.896 70.86172 410.15 254.9636 0.621635 0.020385 1957.1 209.4594 3.99 72.05113 417.4695 240.3445 0.575717 0.020633 1957.2 219.4133 4.01 74.05041 424.789 250.5797 0.589892 0.020294 1957.3 224.4750 4.326 75.12415 432.1085 255.5311 0.591358 0.020673 1957.4 201.4294 4.423 76.64507 439.428 235.7715 0.536541 0.019828 1958.1 211.7117 4.023 81.44254 442.8345 246.3322 0.556262 0.017525 1958.2 223.8095 4.01 84.39113 446.241 258.3176 0.578874 0.016459 1958.3 243.6468 4.21 85.38812 449.6475 276.0219 0.613863 0.015816 1958.4 265.3061 4.433 86.06621 453.054 298.8453 0.659624 0.016258 1959.1 296.6360 4.42 87.53151 458.989 330.1346 0.719264 0.016545 1959.2 309.3102 4.59 88.33646 464.924 342.8517 0.737436 0.016878 1959.3 318.6119 4.786 88.70027 470.859 350.1952 0.743737 0.017427 1959.4 312.9841 4.873 89.88592 476.794 347.4841 0.728792 0.017300 1960.1 305.2538 4.903 90.81840 480.8772 341.5972 0.710362 0.018329 1960.2 303.4682 4.813 92.59691 484.9605 342.5631 0.706373 0.018366 1960.3 309.4555 4.683 95.50638 489.0437 349.5359 0.714733 0.017609 1960.4 299.4011 4.69 98.24805 493.127 344.1552 0.697903 0.017301 1961.1 327.2958 4.63 99.14990 497.021 370.9907 0.746428 0.016663 1961.2 355.5706 4.636 102.6564 500.915 398.3790 0.795302 0.017084 1961.3 356.2945 4.786 104.1844 504.809 399.4759 0.791340 0.016939 1961.4 380.1883 4.76 107.6518 508.703 428.5562 0.842448 0.017332 1962.1 375.3804 4.73 108.6917 513.2752 422.2691 0.822695 0.017409 1962.2 339.9349 4.633 112.2442 517.8475 389.2342 0.751638 0.017798 1962.3 323.4724 4.643 114.9275 522.4197 374.9880 0.717790 0.017897 1962.4 316.6525 4.58 118.7429 526.992 372.3494 0.706556 0.017537 1963.1 368.1168 4.463 119.0435 532.0622 421.9733 0.793090 0.017257 1963.2 400.3813 4.456 122.4631 537.1325 455.8614 0.848694 0.017831 1963.3 408.9456 4.483 124.2732 542.2027 465.0898 0.857778 0.018273 1963.4 418.4100 4.53 127.0299 547.273 480.2400 0.877514 0.018690 1964.1 427.2099 4.56 127.8695 554.4375 487.5475 0.879355 0.018546 1964.2 450.3311 4.596 129.6447 561.602 510.8538 0.909636 0.018961 1964.3 460.4604 4.566 131.0934 568.7665 521.0908 0.916177 0.019338 1964.4 478.7412 4.566 134.0982 575.931 546.7514 0.949335 0.019406 1965.1 481.6053 4.55 136.4159 586.2757 551.6553 0.940948 0.020662 1965.2 506.7114 4.556 140.3374 596.6205 580.2598 0.972577 0.021155 1965.3 525.7969 4.653 142.4180 606.9652 601.4299 0.990880 0.021820 1965.4 575.1765 4.77 144.9681 617.31 658.8897 1.067356 0.022879 1966.1 557.5249 4.996 145.2531 632.3902 640.3651 1.012610 0.023426 1966.2 516.8195 5.213 148.2731 647.4705 603.4287 0.931978 0.023516 1966.3 470.1931 5.51 150.5690 662.5507 562.1901 0.848523 0.023335 1966.4 444.1416 5.67 153.8008 677.631 544.4104 0.803402 0.023012 1967.1 510.7764 5.466 160.1806 689.8975 616.0241 0.892921 0.022181 1967.2 567.5085 5.61 161.8489 702.164 673.2275 0.958789 0.021984 1967.3 572.3472 5.96 163.5643 714.4305 675.6195 0.945675 0.021576 1967.4 536.4600 6.4 163.8560 726.697 642.2170 0.883748 0.021758 1968.1 578.4615 6.44 163.9340 742.4447 682.2195 0.918882 0.022377 1968.2 610.5125 6.613 167.0164 758.1925 717.3499 0.946131 0.021534 1968.3 639.6307 6.456 176.2604 773.9402 756.8381 0.977902 0.021460 1968.4 668.9419 6.636 181.1179 789.688 793.9368 1.005380 0.022001 1969.1 614.1479 7.01 183.2180 808.5632 737.9719 0.912695 0.022176 1969.2 621.9787 7.203 187.9716 827.4385 750.5343 0.907057 0.022205 1969.3 564.6847 7.456 192.7848 846.3137 699.5966 0.826639 0.022587 1969.4 566.8733 7.946 192.8296 865.189 707.6800 0.817948 0.022176 1970.1 509.2720 8.276 196.7333 882.4232 650.4353 0.737101 0.021569 1970.2 464.8272 8.49 204.6016 899.6575 612.4549 0.680764 0.021380 1970.3 454.0942 8.85 208.9345 916.8917 603.9428 0.658685 0.021100 1970.4 513.7362 8.643 217.0534 934.126 672.8777 0.720328 0.019862 1971.1 600 7.986 228.0178 952.405 763.1008 0.801235 0.019902 1971.2 588.2352 8.11 229.1007 970.684 747.1380 0.769702 0.020052 1971.3 619.2148 8.15 229.8062 988.963 773.1920 0.781821 0.019808 1971.4 545.4545 7.886 240.3505 1007.242 709.8540 0.704750 0.019812 1972.1 696.8760 7.686 243.5995 1027.185 855.9366 0.833283 0.020368 1972.2 702.7972 7.726 246.7150 1047.128 859.9202 0.821217 0.020506 1972.3 706.9996 7.663 255.2738 1067.071 871.7194 0.816927 0.020579 1972.4 727.2727 7.573 267.5242 1087.014 908.4639 0.835742 0.021371 1973.1 724.8467 7.596 270.9433 1122.392 906.1430 0.807332 0.021722 1973.2 699.6986 7.663 282.7612 1157.771 891.1769 0.769735 0.021993 1973.3 694.5337 8.026 289.0804 1193.149 889.1562 0.745218 0.022236 1973.4 643.9169 8.053 300.4477 1228.528 855.7516 0.696566 0.022314 1974.1 554.0540 8.246 310.8287 1300.534 772.3107 0.593841 0.021368 1974.2 580.8080 8.836 312.8630 1372.54 807.5601 0.588369 0.021009 1974.3 446.8819 9.703 305.2007 1444.546 668.9497 0.463086 0.020681 1974.4 400.9034 10.016 305.7653 1516.552 604.0308 0.398292 0.020069 1975.1 529.7872 9.563 311.5724 1548.395 722.3507 0.466515 0.018690 1975.2 588.3771 9.693 312.4483 1580.239 762.8725 0.482757 0.018332 1975.3 570.8245 9.676 312.3324 1612.082 736.4919 0.456857 0.018430 1975.4 617.9097 9.676 313.2012 1643.926 777.7419 0.473100 0.018454 1976.1 663.6093 9.456 318.8776 1681.826 805.8909 0.479176 0.018617 1976.2 741.3376 9.26 322.2875 1719.726 880.3762 0.511928 0.018893 1976.3 773.6002 8.976 332.0283 1757.626 916.6675 0.521537 0.019191 1976.4 771.5736 8.65 344.3677 1795.527 930.9283 0.518470 0.019261 1977.1 711.2171 8.496 351.7480 1845.131 874.6722 0.474043 0.019819 1977.2 675.1704 8.52 368.5896 1894.736 848.7570 0.447955 0.020254 1977.3 681.5286 8.39 396.1546 1944.34 882.5062 0.453884 0.020503 1977.4 697.3971 8.536 402.5131 1993.945 902.8472 0.452794 0.020989 1978.1 644.5134 8.793 402.4079 2071.903 841.7853 0.406286 0.020629 1978.2 654.6489 9.053 411.5388 2149.862 850.9548 0.395818 0.022113 1978.3 762.3762 9.206 419.2520 2227.82 963.3332 0.432410 0.022095 1978.4 764.0322 9.423 427.8337 2305.779 977.4570 0.423916 0.022158 1979.1 734.2334 9.736 430.0527 2382.662 941.8791 0.395305 0.022453 1979.2 725.3508 9.923 437.9911 2459.546 934.3990 0.379907 0.022105 1979.3 700.1862 9.876 464.5032 2536.429 934.2034 0.368314 0.022616 1979.4 712.5 11.263 440.8261 2613.313 923.3531 0.353326 0.022435 1980.1 711.8213 12.946 441.1856 2705.804 936.7709 0.346207 0.022605 1980.2 913.3693 12.596 456.2498 2798.296 1146.331 0.409653 0.020710 1980.3 866.8117 12.453 460.0058 2890.788 1102.694 0.381451 0.020340 1980.4 986.6610 13.556 431.2389 2983.28 1197.426 0.401379 0.020193 1981.1 1027.999 14.19 435.8883 3076.689 1228.796 0.399389 0.020605 1981.2 1057.090 15.11 441.8713 3170.099 1261.599 0.397968 0.020862 1981.3 1021.897 15.826 481.9805 3263.508 1289.818 0.395224 0.021360 1981.4 1009.486 16.013 476.7635 3356.918 1279.351 0.381109 0.021241 1982.1 948.0072 16.22 495.5520 3393.186 1249.641 0.368279 0.020852 1982.2 952.3026 15.906 507.1135 3429.454 1281.107 0.373560 0.019688 1982.3 1000.492 15.656 480.3297 3465.722 1318.651 0.380483 0.018869 1982.4 1246.492 13.936 523.9792 3501.99 1605.719 0.458516 0.018272 1983.1 1368.175 13.4 521.8330 3527.875 1711.462 0.485125 0.017764 1983.2 1521.989 12.806 535.1218 3553.76 1863.374 0.524338 0.017584 1983.3 1563.159 13.09 538.4556 3579.645 1918.156 0.535851 0.018482 1983.4 1602.608 13.09 549.3068 3605.531 1966.247 0.545342 0.019321 1984.1 1532.132 13.26 555.0580 3665.129 1922.672 0.524585 0.019688 1984.2 1493.670 14.266 552.9123 3724.727 1919.169 0.515250 0.020518 1984.3 1483.925 14.213 588.7296 3784.325 1970.343 0.520659 0.020745 1984.4 1479.404 13.206 650.7834 3843.923 2019.555 0.525389 0.021162 1985.1 1575.233 12.986 641.4364 3881.147 2124.824 0.547473 0.021024 1985.2 1773.330 12.606 644.3984 3918.372 2326.923 0.593849 0.021254 1985.3 1676.122 11.97 665.3913 3955.597 2267.654 0.573277 0.020364 1985.4 1775.104 11.556 696.4297 3992.822 2386.208 0.597624 0.021048 1986.1 1950.364 10.62 772.2388 4032.309 2622.414 0.650350 0.020009 1986.2 2265.647 9.91 839.2315 4071.797 2987.342 0.733666 0.019513 1986.3 2148.517 9.71 884.8908 4111.284 2913.393 0.708633 0.018921 1986.4 2196.903 9.546 924.6389 4150.772 2993.215 0.721122 0.018820 1987.1 2603.960 9.186 966.0476 4208.185 3417.293 0.812058 0.018064 1987.2 2673.832 9.723 945.0299 4265.598 3456.423 0.810302 0.018481 1987.3 2916.516 10.306 920.6205 4323.011 3663.757 0.847501 0.018892 1987.4 2485.875 10.743 903.7786 4380.424 3231.923 0.737810 0.018611 1988.1 2040.930 10.086 957.5036 4444.042 2854.722 0.642370 0.019166 1988.2 2117.808 10.333 963.3712 4507.661 2943.935 0.653096 0.019768 1988.3 2445.225 10.506 974.7303 4571.28 3289.377 0.719574 0.019480 1988.4 2260.442 10.03 1040.548 4634.899 3194.640 0.689257 0.019079 1989.1 2950.233 10.163 1086.096 4694.636 3966.120 0.844819 0.019366 1989.2 2880.295 9.93 1170.580 4754.373 3983.778 0.837918 0.019184 1989.3 3213.747 9.46 1246.103 4814.11 4419.898 0.918113 0.019202 1989.4 3119.568 9.417 1269.652 4873.847 4346.398 0.891779 0.018655 1990.1 3405.172 9.703 1245.216 4913.887 4629.551 0.942136 0.019085 1990.2 3267.384 9.827 1260.955 4953.927 4494.279 0.907215 0.018570 1990.3 3187.965 9.89 1259.543 4993.967 4420.004 0.885068 0.018821 1990.4 3197.838 9.86 1274.537 5034.007 4437.855 0.881575 0.018706  1. Enclosed are the updated data for our q paper. The files ANNUAL.DAT and QUART.DAT have annual and quarterly data, respectively, and their definitions in the begining of the file.