INTDEF.DES year i3 inf rec out def i3_1 inf_1 def_1 ci3 cinf cdef y77 Obs: 49 1. year 1948-1996 2. i3 3 mo. T bill rate 3. inf CPI inflation rate 4. rec federal receipts, % GDP 5. out federal outlays, % GDP 6. def out - rec (deficit as % GDP) 7. i3_1 i3[t-1] 8. inf_1 inf[t-1] 9. def_1 def[t-1] 10. ci3 i3 - i3_1 11. cinf inf - inf_1 12. cdef def - def_1 13. y77 =1 year >= 1977; change in FY