TABLE 11-7
REAL STOCK RETURNS,OUTPUT GROWTH,AND INFLATION,
UNITED STATES 1954 TO 1981
Year Y X2 X3
1954 53.0 6.7 -0.4
1955 31.2 2.1 0.4
1956 3.7 1.8 2.9
1957 -13.8 -0.4 3.0
1958 41.7 6.0 1.7
1959 10.5 2.1 1.5
1960 -1.3 2.6 1.8
1961 26.1 5.8 0.8
1962 -10.5 4.0 1.8
1963 21.2 5.3 1.6
1964 15.5 6.0 1.0
1965 10.2 6.0 2.3
1966 -13.3 2.7 3.2
1967 21.3 4.6 2.7
1968 6.8 2.8 4.3
1969 -13.5 -0.2 5.0
1970 -0.4 3.4 4.4
1971 10.5 5.7 3.8
1972 15.4 5.8 3.6
1973 -22.6 -0.6 7.9
1974 -37.3 -1.2 10.8
1975 31.2 5.4 6.0
1976 19.1 5.5 4.7
1977 -13.1 5.0 5.9
1978 -1.3 2.8 7.9
1979 8.6 -0.3 9.8
1980 -22.2 2.6 10.2
1981 -12.2 -1.9 7.3