Empirical Methods in Finance

Practicing 3

Henrique C. Martins

Types of dataset

Cross-sectional data

Here is an example of a cross-sectional dataset. Notice that you have one observation for each unit only. You might have several variables for each unit. Usually, when you create a plot, you will have two variables, one in each axis.

library(ggplot2)
library(ggthemes)
mtcars <- mtcars
ggplot(mtcars, aes(hp, mpg, color = am)) +
  geom_point() +  geom_smooth(formula = y ~ x, method = "loess") +   theme_solarized()

mpg cyl disp hp drat wt qsec vs am gear carb
Mazda RX4 21.0 6 160.0 110 3.90 2.620 16.46 0 1 4 4
Mazda RX4 Wag 21.0 6 160.0 110 3.90 2.875 17.02 0 1 4 4
Datsun 710 22.8 4 108.0 93 3.85 2.320 18.61 1 1 4 1
Hornet 4 Drive 21.4 6 258.0 110 3.08 3.215 19.44 1 0 3 1
Hornet Sportabout 18.7 8 360.0 175 3.15 3.440 17.02 0 0 3 2
Valiant 18.1 6 225.0 105 2.76 3.460 20.22 1 0 3 1
Duster 360 14.3 8 360.0 245 3.21 3.570 15.84 0 0 3 4
Merc 240D 24.4 4 146.7 62 3.69 3.190 20.00 1 0 4 2
Merc 230 22.8 4 140.8 95 3.92 3.150 22.90 1 0 4 2
Merc 280 19.2 6 167.6 123 3.92 3.440 18.30 1 0 4 4
Merc 280C 17.8 6 167.6 123 3.92 3.440 18.90 1 0 4 4
Merc 450SE 16.4 8 275.8 180 3.07 4.070 17.40 0 0 3 3
Merc 450SL 17.3 8 275.8 180 3.07 3.730 17.60 0 0 3 3
Merc 450SLC 15.2 8 275.8 180 3.07 3.780 18.00 0 0 3 3
Cadillac Fleetwood 10.4 8 472.0 205 2.93 5.250 17.98 0 0 3 4
Lincoln Continental 10.4 8 460.0 215 3.00 5.424 17.82 0 0 3 4
Chrysler Imperial 14.7 8 440.0 230 3.23 5.345 17.42 0 0 3 4
Fiat 128 32.4 4 78.7 66 4.08 2.200 19.47 1 1 4 1
Honda Civic 30.4 4 75.7 52 4.93 1.615 18.52 1 1 4 2
Toyota Corolla 33.9 4 71.1 65 4.22 1.835 19.90 1 1 4 1
Toyota Corona 21.5 4 120.1 97 3.70 2.465 20.01 1 0 3 1
Dodge Challenger 15.5 8 318.0 150 2.76 3.520 16.87 0 0 3 2
AMC Javelin 15.2 8 304.0 150 3.15 3.435 17.30 0 0 3 2
Camaro Z28 13.3 8 350.0 245 3.73 3.840 15.41 0 0 3 4
Pontiac Firebird 19.2 8 400.0 175 3.08 3.845 17.05 0 0 3 2
Fiat X1-9 27.3 4 79.0 66 4.08 1.935 18.90 1 1 4 1
Porsche 914-2 26.0 4 120.3 91 4.43 2.140 16.70 0 1 5 2
Lotus Europa 30.4 4 95.1 113 3.77 1.513 16.90 1 1 5 2
Ford Pantera L 15.8 8 351.0 264 4.22 3.170 14.50 0 1 5 4
Ferrari Dino 19.7 6 145.0 175 3.62 2.770 15.50 0 1 5 6

Time-series data

Here is an example of a Time-series dataset. Notice that you have one observation per period. You need to pay attention to the frequency when you have time-series. Usually, when you create a plot, you will have the period variable as the x-axis.

Error in `geom_line()`:
! Problem while computing aesthetics.
ℹ Error occurred in the 1st layer.
Caused by error in `FUN()`:
! objeto 'ref_date' não encontrado

Pooled cross sections data

A pooled cross section dataset combines more than one cross-sectional dataset collected overtime. For instance, when you have data from two non consecutive years. It is hard to create a graph with this dataset, but you can manage to include more than one year in the same plot. More about the dataset here.

year infmort afdcprt popul pcinc physic afdcper d90 lpcinc lphysic DC lpopul
1987 8.3 52 1186 13996 173 4.384486 0 9.546527 5.153292 0 7.078341
1990 6.2 62 1228 17125 178 5.048860 1 9.748295 5.181784 0 7.113142
1987 7.8 11 1056 18083 186 1.041667 0 9.802728 5.225747 0 6.962244
1990 7.1 21 1109 21051 200 1.893598 1 9.954703 5.298317 0 7.011214
1987 8.5 20 547 14267 244 3.656307 0 9.565704 5.497168 0 6.304449
1990 6.4 25 563 17630 253 4.440497 1 9.777357 5.533390 0 6.333280
1987 7.2 234 5856 19131 322 3.995902 0 9.859065 5.774551 0 8.675222
1990 7.0 282 6016 22558 337 4.687500 1 10.023845 5.820083 0 8.702178
1987 8.4 42 986 15683 244 4.259635 0 9.660333 5.497168 0 6.893656
1990 8.1 52 1003 18771 254 5.184447 1 9.840069 5.537334 0 6.910751
1987 8.8 107 3212 21258 293 3.331258 0 9.964489 5.680172 0 8.074649
1990 7.9 135 3287 25528 305 4.107089 1 10.147531 5.720312 0 8.097731
1987 10.7 1019 17835 17943 307 5.713485 0 9.794955 5.726848 0 9.788918
1990 9.6 1031 17990 22068 315 5.730962 1 10.001883 5.752573 0 9.797571
1987 9.4 320 7674 20277 234 4.169924 0 9.917242 5.455321 0 8.945593
1990 9.0 323 7730 24977 246 4.178525 1 10.125711 5.505331 0 8.952864
1987 10.4 539 11942 15198 227 4.513482 0 9.628919 5.424950 0 9.387816
1990 9.6 549 11882 18725 235 4.620434 1 9.837615 5.459586 0 9.382780
1987 9.3 648 10816 14575 191 5.991124 0 9.587063 5.252274 0 9.288782
1990 9.8 657 10847 17422 196 6.056974 1 9.765489 5.278115 0 9.291644
1987 10.1 150 5530 13987 151 2.712477 0 9.545883 5.017280 0 8.617943
1990 9.6 164 5544 16814 157 2.958153 1 9.729967 5.056246 0 8.620472
1987 11.6 681 11584 16394 210 5.878799 0 9.704671 5.347107 0 9.357380
1990 10.7 656 11431 20327 212 5.738780 1 9.919705 5.356586 0 9.344084
1987 10.7 642 9205 15558 180 6.974471 0 9.652330 5.192957 0 9.127502
1990 10.7 684 9295 18297 185 7.358795 1 9.814492 5.220356 0 9.137232
1987 8.6 271 4807 14674 181 5.637612 0 9.593833 5.198497 0 8.477828
1990 8.2 236 4892 17455 189 4.824203 1 9.767382 5.241747 0 8.495357
1987 8.7 161 4244 15789 212 3.793591 0 9.667068 5.356586 0 8.353262
1990 7.3 177 4375 18690 220 4.045714 1 9.835744 5.393628 0 8.383662
1987 9.1 104 2823 14028 145 3.684024 0 9.548811 4.976734 0 7.945555
1990 8.1 96 2777 16848 151 3.456968 1 9.731987 5.017280 0 7.929126
1987 10.2 200 5107 14630 190 3.916193 0 9.590830 5.247024 0 8.538367
1990 9.4 218 5117 17347 196 4.260309 1 9.761175 5.278115 0 8.540323
1987 8.7 15 671 12825 167 2.235469 0 9.459151 5.117994 0 6.508769
1990 8.0 16 639 15158 170 2.503912 1 9.626284 5.135798 0 6.459905
1987 9.9 18 709 12414 138 2.538787 0 9.426580 4.927254 0 6.563856
1990 10.1 19 696 15566 140 2.729885 1 9.652844 4.941642 0 6.545350
1987 8.6 43 1594 14100 168 2.697616 0 9.553930 5.123964 0 7.374002
1990 8.3 44 1578 17276 172 2.788340 1 9.757073 5.147494 0 7.363913
1987 9.5 67 2475 15089 169 2.707071 0 9.621721 5.129899 0 7.813996
1990 8.4 77 2478 17768 175 3.107345 1 9.785154 5.164786 0 7.815207
1987 11.7 20 648 16305 191 3.086420 0 9.699227 5.252274 0 6.473891
1990 10.1 22 666 20709 199 3.303303 1 9.938324 5.293305 0 6.501290
1987 11.5 176 4536 18217 325 3.880070 0 9.810110 5.783825 0 8.419801
1990 9.5 198 4781 21915 334 4.141393 1 9.994927 5.811141 0 8.472405
1987 19.3 50 621 19543 591 8.051530 0 9.880372 6.381816 1 6.431331
1990 20.7 54 607 23885 615 8.896211 1 10.081006 6.421622 1 6.408529
1987 10.2 145 5914 16539 204 2.451809 0 9.713476 5.318120 0 8.685078
1990 10.2 158 6187 19679 213 2.553742 1 9.887307 5.361292 0 8.730206
1987 9.8 111 1898 11013 164 5.848261 0 9.306831 5.099866 0 7.548556
1990 9.9 109 1793 13722 166 6.079197 1 9.526755 5.111988 0 7.491645
1987 11.9 171 6409 13353 179 2.668123 0 9.499496 5.187386 0 8.765458
1990 10.6 255 6629 16383 190 3.846734 1 9.704000 5.247024 0 8.799210
1987 12.7 122 3426 12078 156 3.561004 0 9.399141 5.049856 0 8.139149
1990 11.7 118 3487 15043 161 3.383998 1 9.618668 5.081404 0 8.156797
1987 12.7 244 6227 14387 167 3.918420 0 9.574081 5.117994 0 8.736650
1990 12.4 320 6478 17041 175 4.939796 1 9.743378 5.164786 0 8.776167
1987 10.6 307 12022 15594 203 2.553652 0 9.654641 5.313206 0 9.394494
1990 9.6 420 12938 18606 208 3.246251 1 9.831240 5.337538 0 9.467924
1987 9.7 155 3723 11996 161 4.163309 0 9.392328 5.081404 0 8.222285
1990 8.5 204 3685 14984 168 5.535956 1 9.614738 5.123964 0 8.212026
1987 11.7 181 4855 12977 187 3.728115 0 9.470934 5.231109 0 8.487764
1990 10.3 230 4877 15869 196 4.716014 1 9.672123 5.278115 0 8.492286
1987 12.2 132 4084 12039 151 3.232125 0 9.395906 5.017280 0 8.314832
1990 10.8 132 4041 14899 158 3.266518 1 9.609050 5.062595 0 8.304248
1987 13.7 176 2624 10301 125 6.707317 0 9.239996 4.828314 0 7.872455
1990 12.1 176 2573 12700 133 6.840264 1 9.449357 4.890349 0 7.852828
1987 10.3 67 2388 11421 144 2.805695 0 9.343209 4.969813 0 7.778212
1990 9.2 73 2351 14037 150 3.105062 1 9.549452 5.010635 0 7.762596
1987 11.8 271 4448 11506 184 6.092626 0 9.350624 5.214936 0 8.400209
1990 11.1 279 4220 14300 188 6.611374 1 9.568015 5.236442 0 8.347590
1987 9.6 101 3259 12607 145 3.099110 0 9.442007 4.976734 0 8.089175
1990 9.2 129 3146 15154 147 4.100445 1 9.626019 4.990433 0 8.053887
1987 9.1 500 16781 13840 169 2.979560 0 9.535318 5.129899 0 9.728003
1990 8.1 673 16987 16600 175 3.961853 1 9.717158 5.164786 0 9.740204
1987 10.0 29 909 12304 150 3.190319 0 9.417680 5.010635 0 6.812345
1990 9.0 29 799 14663 158 3.629537 1 9.593082 5.062595 0 6.683361
1987 10.4 18 1000 11797 120 1.800000 0 9.375601 4.787492 0 6.907755
1990 8.7 17 1007 15137 125 1.688183 1 9.624897 4.828314 0 6.914731
1987 9.2 13 490 12836 134 2.653061 0 9.460009 4.897840 0 6.194406
1990 8.6 16 454 16467 139 3.524229 1 9.709114 4.934474 0 6.118097
1987 9.8 94 3293 15680 202 2.854540 0 9.660141 5.308268 0 8.099554
1990 8.8 109 3294 18795 211 3.309047 1 9.841346 5.351858 0 8.099858
1987 8.1 60 1496 11889 173 4.010695 0 9.383368 5.153292 0 7.310550
1990 9.0 67 1515 14124 183 4.422442 1 9.555631 5.209486 0 7.323171
1987 9.5 91 3400 14322 191 2.676471 0 9.569552 5.252274 0 8.131531
1990 8.8 144 3665 16169 197 3.929059 1 9.690851 5.283204 0 8.206584
1987 8.8 44 1680 11530 177 2.619048 0 9.352708 5.176150 0 7.426549
1990 7.5 47 1723 14036 185 2.727800 1 9.549380 5.220356 0 7.451822
1987 9.6 17 1006 16359 158 1.689861 0 9.702534 5.062595 0 6.913737
1990 8.4 25 1202 19680 159 2.079867 1 9.887358 5.068904 0 7.091742
1987 9.7 208 4542 15634 206 4.579480 0 9.657204 5.327876 0 8.421123
1990 7.8 237 4867 18738 213 4.869529 1 9.838309 5.361292 0 8.490233
1987 10.4 81 2723 13906 196 2.974660 0 9.540075 5.278115 0 7.909490
1990 8.3 99 2842 17038 205 3.483462 1 9.743201 5.323010 0 7.952263
1987 9.0 1708 27653 17770 242 6.176545 0 9.785267 5.488938 0 10.227490
1990 7.9 2023 29760 20547 244 6.797715 1 9.930471 5.497168 0 10.300921
1987 10.4 19 524 18461 138 3.625954 0 9.823416 4.927254 0 6.261492
1990 10.5 24 550 20867 146 4.363637 1 9.945924 4.983607 0 6.309918
1987 8.9 41 1082 15569 225 3.789279 0 9.653037 5.416100 0 6.986567
1990 6.7 44 1108 20461 236 3.971119 1 9.926276 5.463832 0 7.010312

Panel dataset

When you have a Panel, you have both dimensions: a cross-sectional and a time-series. That is, you have several variables from several units through several years. This is the type of dataset that most finance and accounting research deals with.

state year govelec black metro unem criv crip lcriv lcrip gcriv gcrip y81 y82 y83 y84 y85 y86 y87 y88 y89 y90 y91 y92 y93 ag0_14 ag15_17 ag18_24 ag25_34 incpc polpc gincpc gpolpc cag0_14 cag15_17 cag18_24 cag25_34 cunem cblack cmetro pris lpris gpris final1 final2
1 80 0 0.2560 0.6320000 0.08775 4.447868 44.47638 1.492425 3.794958 0.0987858 0.1747851 0 0 0 0 0 0 0 0 0 0 0 0 0 0.2408834 0.0575244 0.1322547 0.1538264 7673.176 235.0026 0.0896345 0.0541870 -0.0012273 -0.0011926 0.0000768 0.0019899 0.01675 -0.0599995 0.0002000 141.3347 4.951131 -0.0206594 0 0
1 81 0 0.2557 0.6362000 0.10667 4.700944 44.24879 1.547763 3.789828 0.0553384 -0.0051301 1 0 0 0 0 0 0 0 0 0 0 0 0 0.2367951 0.0546058 0.1324317 0.1584588 8442.723 227.2263 0.0955742 -0.0336498 -0.0040883 -0.0029186 0.0001770 0.0046324 0.01892 -0.0300007 0.0042000 163.5336 5.097019 0.1458879 0 0
1 82 1 0.2554 0.6404000 0.14367 4.497580 42.05045 1.503539 3.738870 -0.0442240 -0.0509582 0 1 0 0 0 0 0 0 0 0 0 0 0 0.2336306 0.0519745 0.1317197 0.1584713 8855.808 219.4395 0.0477686 -0.0348701 -0.0031645 -0.0026312 -0.0007120 0.0000126 0.03700 -0.0299988 0.0042000 183.6948 5.213276 0.1162572 0 0
1 83 0 0.2551 0.6446000 0.13667 4.186833 37.08439 1.431945 3.613196 -0.0715947 -0.1256738 0 0 1 0 0 0 0 0 0 0 0 0 0 0.2313167 0.0495679 0.1304016 0.1596340 9411.027 222.5979 0.0608087 0.0142903 -0.0023139 -0.0024066 -0.0013181 0.0011626 -0.00700 -0.0300007 0.0042000 218.6242 5.387354 0.1740785 0 0
1 84 0 0.2548 0.6488000 0.11167 4.353239 35.04226 1.470920 3.556555 0.0389756 -0.0566416 0 0 0 1 0 0 0 0 0 0 0 0 0 0.2279858 0.0485830 0.1277834 0.1609312 10267.680 214.3978 0.0871189 -0.0375338 -0.0033309 -0.0009849 -0.0026182 0.0012972 -0.02500 -0.0300007 0.0042000 245.0686 5.501538 0.1141839 0 0
1 85 0 0.2545 0.6530001 0.08908 4.630758 35.26680 1.532721 3.562942 0.0618004 0.0063875 0 0 0 0 1 0 0 0 0 0 0 0 0 0.2252706 0.0488296 0.1240876 0.1625975 10974.390 220.5386 0.0665633 0.0282399 -0.0027152 0.0002466 -0.0036958 0.0016664 -0.02259 -0.0299988 0.0042001 259.2611 5.557836 0.0562973 0 0
1 86 1 0.2542 0.6572000 0.09833 5.665331 37.87350 1.734365 3.634252 0.2016448 0.0713096 0 0 0 0 0 1 0 0 0 0 0 0 0 0.2224449 0.0501002 0.1197395 0.1638276 11666.695 226.8036 0.0611739 0.0280116 -0.0028257 0.0012706 -0.0043481 0.0012301 0.00925 -0.0300007 0.0042000 270.5512 5.600461 0.0426259 0 0
1 87 0 0.2539 0.6614000 0.07775 5.686924 39.58107 1.738170 3.678351 0.0038042 0.0440993 0 0 0 0 0 0 1 0 0 0 0 0 0 0.2204234 0.0500623 0.1160648 0.1643836 12289.268 241.1706 0.0519881 0.0614201 -0.0020215 -0.0000379 -0.0036747 0.0005559 -0.02058 -0.0300007 0.0042000 288.1763 5.663573 0.0631113 0 0
1 88 0 0.2536 0.6656000 0.07208 5.728628 41.05592 1.745476 3.714935 0.0073066 0.0365839 0 0 0 0 0 0 0 1 0 0 0 0 0 0.2196819 0.0487078 0.1135686 0.1635189 13052.042 256.2624 0.0602183 0.0606973 -0.0007415 -0.0013545 -0.0024962 -0.0008647 -0.00567 -0.0299988 0.0042000 313.8730 5.748989 0.0854158 0 0
1 89 0 0.2533 0.6698000 0.07025 6.036973 41.25161 1.797903 3.719690 0.0524266 0.0047555 0 0 0 0 0 0 0 0 1 0 0 0 0 0.2191067 0.0464020 0.1116625 0.1620347 13967.873 268.8834 0.0678153 0.0480757 -0.0005752 -0.0023058 -0.0019061 -0.0014841 -0.00183 -0.0300007 0.0042001 307.0825 5.727117 -0.0218720 0 0
1 90 1 0.2530 0.6740000 0.06775 7.069136 41.96889 1.955738 3.736928 0.1578355 0.0172381 0 0 0 0 0 0 0 0 0 1 0 0 0 0.2182716 0.0449383 0.1098765 0.1597531 14896.788 280.4938 0.0643857 0.0422741 -0.0008351 -0.0014637 -0.0017860 -0.0022817 -0.00250 -0.0300007 0.0042000 336.8486 5.819634 0.0925169 0 0
1 91 0 0.2527 0.6782000 0.07200 8.439609 45.20342 2.132936 3.811173 0.1771978 0.0742443 0 0 0 0 0 0 0 0 0 0 1 0 0 0.2176039 0.0442543 0.1092910 0.1574572 15600.990 288.9731 0.0461888 0.0297819 -0.0006677 -0.0006840 -0.0005856 -0.0022959 0.00425 -0.0299988 0.0042000 379.3827 5.938545 0.1189117 0 0
1 92 0 0.2524 0.6824000 0.07300 8.712421 43.94321 2.164750 3.782898 0.0318139 -0.0282745 0 0 0 0 0 0 0 0 0 0 0 1 0 0.2153214 0.0439826 0.1087482 0.1546641 16494.385 290.0435 0.0556856 0.0036972 -0.0022825 -0.0002717 -0.0005428 -0.0027931 0.00100 -0.0300007 0.0042000 400.9780 5.993906 0.0553613 0 0
1 93 0 0.2521 0.6866000 0.07500 7.804156 40.98352 2.054657 3.713170 -0.1100934 -0.0697281 0 0 0 0 0 0 0 0 0 0 0 0 1 0.2135180 0.0437067 0.1084309 0.1523764 17105.346 296.8474 0.0363710 0.0231873 -0.0018034 -0.0002759 -0.0003173 -0.0022877 0.00200 -0.0300007 0.0042001 409.3282 6.014517 0.0206108 0 0
2 80 0 0.0340 0.4340000 0.09592 4.773632 57.03980 1.563108 4.043749 -0.0358539 -0.0089197 0 0 0 0 0 0 0 0 0 0 0 0 0 0.2686567 0.0547264 0.1492537 0.2263682 13784.794 315.9204 0.1159335 -0.1006689 -0.0092589 -0.0048270 0.0053331 0.0104873 0.00267 0.0400002 0.0016000 132.0099 4.882877 0.0871882 0 0
2 81 0 0.0347 0.4317000 0.09233 6.069378 58.93301 1.803256 4.076401 0.2401487 0.0326519 1 0 0 0 0 0 0 0 0 0 0 0 0 0.2679426 0.0526316 0.1387560 0.2344498 15385.251 305.9809 0.1098432 -0.0319677 -0.0007141 -0.0020948 -0.0104978 0.0080816 -0.00359 0.0699999 -0.0023000 142.0398 4.956107 0.0732303 0 0
2 82 1 0.0354 0.4294000 0.09983 6.071111 54.39778 1.803542 3.996323 0.0002855 -0.0800779 0 1 0 0 0 0 0 0 0 0 0 0 0 0.2644444 0.0488889 0.1311111 0.2355556 17119.225 280.0000 0.1067928 -0.0887330 -0.0034981 -0.0037427 -0.0076449 0.0011058 0.00750 0.0699999 -0.0023000 170.5742 5.139170 0.1830630 0 0
2 83 0 0.0361 0.4271000 0.10308 6.024590 53.05123 1.795849 3.971258 -0.0076922 -0.0250652 0 0 1 0 0 0 0 0 0 0 0 0 0 0.2684426 0.0471311 0.1250000 0.2356557 17930.697 268.8524 0.0463121 -0.0406269 0.0039982 -0.0017577 -0.0061111 0.0001002 0.00325 0.0699999 -0.0023000 193.7778 5.266712 0.1275420 0 0
2 84 0 0.0368 0.4248000 0.10150 6.046692 53.43969 1.799511 3.978554 0.0036620 0.0072956 0 0 0 1 0 0 0 0 0 0 0 0 0 0.2704280 0.0466926 0.1206226 0.2315175 17625.547 286.1868 -0.0171648 0.0624819 0.0019854 -0.0004385 -0.0043774 -0.0041382 -0.00158 0.0700002 -0.0023000 219.6721 5.392136 0.1254239 0 0
2 85 0 0.0375 0.4225000 0.09608 5.697369 51.85714 1.740004 3.948493 -0.0595070 -0.0300610 0 0 0 0 1 0 0 0 0 0 0 0 0 0.2763158 0.0469925 0.1165414 0.2255639 18430.637 294.5489 0.0446649 0.0288003 0.0058878 0.0002999 -0.0040812 -0.0059536 -0.00542 0.0699999 -0.0023000 251.5564 5.527667 0.1355314 0 0
2 86 1 0.0382 0.4202000 0.10908 5.599265 55.71140 1.722635 4.020185 -0.0173692 0.0716918 0 0 0 0 0 1 0 0 0 0 0 0 0 0.2794118 0.0477941 0.1139706 0.2169118 17821.215 277.2059 -0.0336247 -0.0606844 0.0030960 0.0008016 -0.0025708 -0.0086521 0.01300 0.0699999 -0.0023000 287.5940 5.661550 0.1338820 0 0
2 87 0 0.0389 0.4179000 0.10800 4.435993 47.94249 1.489751 3.870002 -0.2328838 -0.1501825 0 0 0 0 0 0 1 0 0 0 0 0 0 0.2820037 0.0482375 0.1113173 0.2096475 17252.170 318.7384 -0.0324517 0.1396103 0.0025919 0.0004434 -0.0026533 -0.0072643 -0.00108 0.0700002 -0.0023000 306.2500 5.724402 0.0628524 0 0
2 88 0 0.0396 0.4156000 0.09225 4.948340 41.63469 1.599052 3.728934 0.1093006 -0.1410685 0 0 0 0 0 0 0 1 0 0 0 0 0 0.2785978 0.0442804 0.1070111 0.2084871 17932.758 355.7196 0.0386912 0.1097720 -0.0034059 -0.0039570 -0.0043062 -0.0011604 -0.01575 0.0699999 -0.0023000 327.8293 5.792493 0.0680909 0 0
2 89 0 0.0403 0.4133000 0.06742 4.795247 41.25594 1.567625 3.719795 -0.0314269 -0.0091383 0 0 0 0 0 0 0 0 1 0 0 0 0 0.2760512 0.0420475 0.1060329 0.2065813 19636.496 353.5649 0.0907608 -0.0060756 -0.0025466 -0.0022329 -0.0009782 -0.0019057 -0.02483 0.0700002 -0.0023000 343.5424 5.839311 0.0468178 0 0
2 90 1 0.0410 0.4110000 0.07025 5.207581 45.95126 1.650116 3.827581 0.0824903 0.1077862 0 0 0 0 0 0 0 0 0 1 0 0 0 0.2725632 0.0415162 0.1010830 0.2039711 20848.021 350.1805 0.0598692 -0.0096183 -0.0034880 -0.0005313 -0.0049499 -0.0026102 0.00283 0.0699997 -0.0023000 348.8117 5.854532 0.0152216 0 0
2 91 0 0.0417 0.4087000 0.08500 6.149385 50.96661 1.816352 3.931171 0.1662366 0.1035893 0 0 0 0 0 0 0 0 0 0 1 0 0 0.2759227 0.0404218 0.0984183 0.1968365 21581.395 273.6380 0.0345725 -0.2466428 0.0033595 -0.0010945 -0.0026648 -0.0071346 0.01475 0.0700002 -0.0023000 334.1155 5.811487 -0.0430455 1 0
2 92 0 0.0424 0.4064000 0.09100 6.593537 49.00680 1.886090 3.891959 0.0697378 -0.0392115 0 0 0 0 0 0 0 0 0 0 0 1 0 0.2738095 0.0425170 0.0969388 0.1887755 22235.414 233.8435 0.0298547 -0.1571537 -0.0021132 0.0020952 -0.0014795 -0.0080610 0.00600 0.0699997 -0.0023000 323.3743 5.778810 -0.0326762 0 1
2 93 0 0.0431 0.4041000 0.07600 7.607679 48.07178 2.029158 3.872695 0.1430682 -0.0192637 0 0 0 0 0 0 0 0 0 0 0 0 1 0.2721202 0.0434057 0.0968281 0.1803005 23014.133 275.9599 0.0344223 0.1656034 -0.0016893 0.0008887 -0.0001107 -0.0084750 -0.01500 0.0700002 -0.0023000 330.6122 5.800946 0.0221357 0 1
3 80 0 0.0280 0.7510000 0.06700 6.502207 75.12620 1.872142 4.319170 0.1653266 0.1067777 0 0 0 0 0 0 0 0 0 0 0 0 0 0.2373068 0.0540839 0.1357616 0.1633554 9332.060 299.4849 0.1122263 0.0294920 -0.0058646 -0.0016824 0.0014672 0.0044024 0.01650 -0.0200000 0.0006000 141.7678 4.954191 0.0329189 0 0
3 81 0 0.0282 0.7549000 0.06125 5.723132 69.95551 1.744516 4.247859 -0.1276256 -0.0713100 1 0 0 0 0 0 0 0 0 0 0 0 0 0.2320285 0.0505338 0.1345196 0.1708185 10250.007 302.6335 0.0938226 0.0104583 -0.0052784 -0.0035501 -0.0012420 0.0074631 -0.00575 0.0200000 0.0039000 160.4121 5.077746 0.1235552 0 0
3 82 1 0.0284 0.7588000 0.09917 5.115917 65.45364 1.632357 4.181342 -0.1121595 -0.0665174 0 1 0 0 0 0 0 0 0 0 0 0 0 0.2290657 0.0477509 0.1321799 0.1726644 10476.102 294.6367 0.0218182 -0.0267793 -0.0029627 -0.0027829 -0.0023396 0.0018459 0.03792 0.0200000 0.0039000 185.0178 5.220452 0.1427059 0 0
3 83 0 0.0286 0.7627000 0.09117 4.931627 58.85483 1.595669 4.075074 -0.0366877 -0.1062684 0 0 1 0 0 0 0 0 0 0 0 0 0 0.2270125 0.0458067 0.1289997 0.1751432 11228.498 288.2115 0.0693584 -0.0220484 -0.0020533 -0.0019442 -0.0031803 0.0024788 -0.00800 0.0200000 0.0039000 209.2734 5.343641 0.1231894 0 0
3 84 0 0.0288 0.7666000 0.04933 5.137268 59.55983 1.636521 4.086981 0.0408524 0.0119076 0 0 0 1 0 0 0 0 0 0 0 0 0 0.2262798 0.0449951 0.1248777 0.1773720 12285.703 284.4799 0.0899812 -0.0130319 -0.0007327 -0.0008116 -0.0041219 0.0022289 -0.04184 0.0200002 0.0039001 227.1135 5.425450 0.0818086 0 0
3 85 0 0.0290 0.7705000 0.06508 6.030779 65.19818 1.796876 4.177432 0.1603549 0.0904503 0 0 0 0 1 0 0 0 0 0 0 0 0 0.2255025 0.0452261 0.1206030 0.1787060 13219.922 282.1294 0.0732887 -0.0082970 -0.0007772 0.0002310 -0.0042747 0.0013340 0.01575 0.0200000 0.0039000 249.2990 5.518653 0.0932031 0 0
3 86 1 0.0292 0.7744000 0.06925 6.600665 66.81227 1.887170 4.201887 0.0902942 0.0244551 0 0 0 0 0 1 0 0 0 0 0 0 0 0.2224909 0.0456469 0.1169891 0.1804716 13993.291 288.3011 0.0568531 0.0216396 -0.0030116 0.0004208 -0.0036139 0.0017656 0.00417 0.0200000 0.0039000 259.8304 5.560029 0.0413761 0 0
3 87 0 0.0294 0.7783000 0.06275 6.034914 64.78411 1.797562 4.171061 -0.0896088 -0.0308261 0 0 0 0 0 0 1 0 0 0 0 0 0 0.2234507 0.0448065 0.1137620 0.1800989 14526.112 288.7984 0.0373699 0.0017234 0.0009597 -0.0008404 -0.0032271 -0.0003727 -0.00650 0.0200000 0.0039000 273.2164 5.610264 0.0502353 0 0
3 88 0 0.0296 0.7822000 0.06258 5.982178 67.27242 1.788785 4.208750 -0.0087769 0.0376897 0 0 0 0 0 0 0 1 0 0 0 0 0 0.2240453 0.0432815 0.1117397 0.1790665 15063.988 291.7963 0.0363591 0.0103273 0.0005946 -0.0015250 -0.0020222 -0.0010324 -0.00017 0.0200000 0.0039000 307.1865 5.727455 0.1171908 0 0
3 89 0 0.0298 0.7861000 0.05225 5.886251 73.24241 1.772619 4.293775 -0.0161655 0.0850244 0 0 0 0 0 0 0 0 1 0 0 0 0 0.2274986 0.0411375 0.1098840 0.1758697 15639.458 294.1607 0.0374901 0.0080701 0.0034534 -0.0021440 -0.0018557 -0.0031968 -0.01033 0.0200000 0.0039000 341.2447 5.832600 0.1051445 0 0
3 90 1 0.0300 0.7900000 0.05325 6.495789 72.05352 1.871154 4.277409 0.0985348 -0.0163655 0 0 0 0 0 0 0 0 0 1 0 0 0 0.2292855 0.0404781 0.1070361 0.1722358 16254.542 298.6688 0.0385753 0.0152092 0.0017869 -0.0006594 -0.0028479 -0.0036339 0.00100 0.0200000 0.0039000 354.5831 5.870943 0.0383430 0 0
3 91 0 0.0302 0.7939000 0.05700 6.714362 67.42098 1.904249 4.210956 0.0330948 -0.0664530 0 0 0 0 0 0 0 0 0 0 1 0 0 0.2314469 0.0397758 0.1033102 0.1692472 16758.816 338.4410 0.0305521 0.1250145 0.0021614 -0.0007024 -0.0037259 -0.0029886 0.00375 0.0200000 0.0039000 375.7946 5.929043 0.0581002 0 0
3 92 0 0.0304 0.7978000 0.07400 6.708246 63.57751 1.903338 4.152260 -0.0009112 -0.0586963 0 0 0 0 0 0 0 0 0 0 0 1 0 0.2330376 0.0401879 0.1004697 0.1651879 17484.721 335.1775 0.0424029 -0.0096897 0.0015907 0.0004121 -0.0028405 -0.0040593 0.01700 0.0200000 0.0039000 397.5440 5.985306 0.0562630 0 0
3 93 0 0.0306 0.8017000 0.06200 7.149898 67.16743 1.967098 4.207189 0.0637605 0.0549288 0 0 0 0 0 0 0 0 0 0 0 0 1 0.2317073 0.0401423 0.0988313 0.1618394 18119.162 341.9969 0.0356427 0.0201417 -0.0013303 -0.0000456 -0.0016384 -0.0033485 -0.01200 0.0200000 0.0039000 416.1013 6.030929 0.0456228 0 0
4 80 1 0.1630 0.3870000 0.07608 3.349081 34.72878 1.208686 3.547569 -0.0485332 0.1058278 0 0 0 0 0 0 0 0 0 0 0 0 0 0.2370954 0.0568679 0.1216098 0.1465442 7384.177 200.3937 0.0668903 0.0714786 -0.0020064 -0.0008159 0.0009581 0.0003531 0.01433 -0.2000008 0.0007000 131.2197 4.876873 0.1325030 0 0
4 81 0 0.1626 0.3884000 0.09100 3.104666 34.87658 1.132906 3.551816 -0.0757798 0.0042467 1 0 0 0 0 0 0 0 0 0 0 0 0 0.2333188 0.0532054 0.1229830 0.1504579 8304.127 192.8478 0.1174132 -0.0383827 -0.0037766 -0.0036625 0.0013732 0.0039137 0.01492 -0.0399990 0.0014000 127.3403 4.846863 -0.0300097 0 0
4 82 1 0.1622 0.3898000 0.09775 3.242371 35.42241 1.176305 3.567344 0.0433986 0.0155289 0 1 0 0 0 0 0 0 0 0 0 0 0 0.2306016 0.0501308 0.1233653 0.1495205 8646.841 194.9433 0.0404414 0.0108077 -0.0027172 -0.0030746 0.0003823 -0.0009374 0.00675 -0.0400009 0.0014000 145.1374 4.977681 0.1308174 0 0
4 83 0 0.1618 0.3912000 0.10125 3.005204 32.33435 1.100345 3.476130 -0.0759596 -0.0912144 0 0 1 0 0 0 0 0 0 0 0 0 0 0.2281006 0.0477016 0.1231570 0.1504770 9099.015 192.8014 0.0509721 -0.0110483 -0.0025010 -0.0024291 -0.0002083 0.0009565 0.00350 -0.0399990 0.0014000 170.9677 5.141475 0.1637940 0 0
4 84 1 0.1614 0.3926000 0.08942 3.253879 30.84224 1.179848 3.428885 0.0795026 -0.0472448 0 0 0 1 0 0 0 0 0 0 0 0 0 0.2262931 0.0469828 0.1206897 0.1512931 10052.484 195.4310 0.0996537 0.0135469 -0.0018075 -0.0007189 -0.0024673 0.0008161 -0.01183 -0.0400009 0.0014000 183.2611 5.210912 0.0694370 0 0
4 85 0 0.1610 0.3940000 0.08633 3.523421 32.81994 1.259432 3.491036 0.0795844 0.0621510 0 0 0 0 1 0 0 0 0 0 0 0 0 0.2247529 0.0472712 0.1173184 0.1521272 10674.928 197.2926 0.0600780 0.0094806 -0.0015402 0.0002884 -0.0033712 0.0008341 -0.00309 -0.0399990 0.0014000 193.1897 5.263672 0.0527606 0 0
4 86 1 0.1606 0.3954000 0.08758 4.015866 35.90437 1.390253 3.580859 0.1308208 0.0898230 0 0 0 0 0 1 0 0 0 0 0 0 0 0.2212693 0.0484563 0.1136364 0.1535163 11209.113 201.9297 0.0488293 0.0232313 -0.0034836 0.0011851 -0.0036821 0.0013891 0.00125 -0.0400009 0.0014000 203.0941 5.313669 0.0499969 0 0
4 87 0 0.1602 0.3968000 0.08100 4.201110 39.08497 1.435349 3.665738 0.0450958 0.0848787 0 0 0 0 0 0 1 0 0 0 0 0 0 0.2203245 0.0482494 0.1097353 0.1545687 11613.968 204.6115 0.0354814 0.0131934 -0.0009448 -0.0002069 -0.0039011 0.0010525 -0.00658 -0.0399990 0.0014000 221.2264 5.399187 0.0855174 0 0

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Henrique C. Martins

[Henrique C. Martins] [henrique.martins@fgv.br][Do not use without permission]