*
* Example 11.5 from page 371
*
cal 1948
open data phillips.raw
data(org=columns) 1948:1 1996:1 year unem inf unem_1 inf_1 unem_2 inf_2 cunem $
  cinf cunem_1 cinf_1
*
* This is one of two ways to create the difference in RATS.
*
set cinf = inf-inf{1}
*
* The other way is with the DIFFERENCE instruction: this differences inf to
* create cinf.
*
diff inf / cinf
*
linreg cinf
# constant unem
*
* This computes the standard error of the indirect estimate of the natural rate.
*
summarize -%beta(1)/%beta(2)