% This file contains information for data and codes used in article "Okun's Law over the Business Cycle: Was the Great Recession All That Different?" 
% by Owyang and Sekhposyan, 2012, Federal Reserver Bank of St. Louis Review.

% Data folder contains the data obtained at the source from FRED. Subsequently the data
% has been put in a more usable layout of in FinalData.xlsx and FinalData20Plus.xlsx for 
% civilian unemployment rate (16 and above) and unemployment rate of 20 years and above repectively.

% filterdata.m is a script file that runs the bandpass filter, the codes for which are in bpass.m.
% These files are not necessary for replicating the results, since the filtered data is already copied
% in the spreadsheet.

% maindiff.m, maingap.m, maindyn.m reproduce the results in the paper for difference specifications of
% Okun's law.

% cal_ds.m and mmult.m are supporting files called from different functions dealing with dates and matrix
% multiplication.

% nwest.m runs the OLS regression for each specification.

% QLR_hac.m, nw.m, pvqlrsb.txt contain the codes and critical values necessary to run Andrews (1993) 
% qlr structural break test.