nberShade {tis} | R Documentation |
nberDates
returns a matrix with two columns of yyyymmdd dates
giving the Start and End dates of recessions fixed by the NBER.
nber.xy
returns a list of x and y coordinates that can be fed
to polygon
to draw NBER shadings on the current plot.
If the last row from nberDates()
has a Start entry but no End
entry, the returned list will also include a vLine element that gives
the x coordinate of the last Start.
nberShade
shades recession areas on the current plot. It calls
nber.xy
to get x and y coordinates for the areas to be shaded
and then passes those coordinates along with its own arguments to
polygon
to do the shading. It also draws a vertical
line at the appropriate location if the list returned by
nber.xy
has a vLine element.
romerLines
draws vertical lines on the current plot at the
"Romer and Romer" dates when monetary policy is said to have become
contractionary.
nberShade(col = grey(0.8), border = FALSE, xpd = FALSE, ...) nberDates() nber.xy() romerLines()
All passed along to polygon
:
col |
color to shade recessionary periods |
border |
the default (FALSE ) omits borders on the shaded
regions. TRUE draws borders in the foreground color.
Alternatively, specify a border color. |
xpd |
should clipping take place? |
... |
other args passed to polygon |
As described above, nber.xy
returns a list. The other
functions described do not return anything useful.
Recessions are dated by the Business Cycle Dating Committee of the National Bureau of Economic Research.
The Romer dates are October 1947, September 1955, December 1968, April 1974, August 1978, October 1979 and December 1988.
Jeff Hallman
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.