Documentation for Michael Pakko's March/April 1995 Review article
"The FOMC in 1993 and 1994:  Monetary Policy in Transition"

All data used in the charts can be found in ma95damp.wk4.
The file is a Lotus for Windows worksheet, using multiple sheets.

Figures 10 and 11 use data created by the following program, using the
data describe in the accompanying file.

This is a TSP program.
Please insert your file name for the data location and the order of your
variables.

create m 1955.01 1994.12
read(o) "WHATEVER YOUR FILE IS" DATE UNEMP FF CPI
genr infl = log(cpi) - log(cpi(-1))
smpl 1959.07 1994.12
varest 1 6 infl unemp ff
genr res = resid
smpl 1959.07 1959.07
genr cum = res
smpl 1959.08 1994.12
genr cum = cum(-1) + res
smpl 1983.01 1994.12
plot(a) res
plot(a) cum
end

The first plot, res, corresponds to Figure 10.
The second plot, cum, corresponds to Figure 11.

The variables created, res and cum, are saved in the accompanying file
under the sheet for these figures.