04 Jun Question ECN 5050 – Economic Thinking
Question
ECN 5050 – Economic Thinking
Data Exercise 2
This exercise is designed to assess your ability to manipulate and analyze data in
accordance with Course Competency (CC) #5: Locate, analyze, and interpret
macroeconomic data.
Instructions:
Put all of your work in one file;
Write your name in the header;
We need to see your work in Excel (i.e., formulas). Do not copy and paste numbers from
your original worksheet to a new worksheet. When submitting, make sure that the cells
in your worksheet show formulas.
After you finish the assignment, name your file LastnameDE2.xls (or .xlsx, depending on
the version of Excel). Note that you do not have to write the .xls suffix by yourself
Excel will do it automatically, and
Upload it to the Assignment Section of the Blackboard.
Background:
Over the business cycle, many macroeconomic data series move together. The investment
component of GDP is most volatile, and government expenditures typically increase during
recessions to offset declines in private-sector expenditures. However, each business cycle is
caused by different reasons, and therefore, each business cycle is different.
Assignment:
You work as an analyst at an investment bank. The CEO of the firm just came back from the
Annual Policy Symposium at Jackson Hole. He tells you that he listened to the presentation by
Professor Robert Hall, who chairs the National Bureau of Economic Researchs Recession
Dating Committee. The CEO hands you the paper by Professor Hall, Why Does the Economy
Fall to Pieces after a Financial Crisis? and wants you to update the figures 1 and 4 in the paper.
Specifically, figure 1 plots the change of components of GDP from the second quarter (AprilJune) of 2008 on, and figure 4 plots the yield spread between 20-year Treasury bond and Baa
corporate bond from January 2007 on.
a. You have to update the figures 1 and 4 using the most recent data available. Use Excel and
create graphs similar to the figures 1 and 4 using data up to the most recent period. All data
series are available at St. Louis Federal Reserve Banks FRED
(http://research.stlouisfed.org/fred2/). Download appropriate series in Excel.
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