Standard and Poor high-grade municipal bond yield for housret variable

#1

The description says that Standard and Poor high-grade municipal bond yields are used in calculating “housret” variable. What are these values, specifically, for 2005 and 2007? I don’t see them and have not been able to find them.

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#2

The S&P high-grade municipal bond yields are not directly available in the CPS data. For these purposes, researchers typically use Appendix B of the Economic Report of the President, where you can find annual S&P high-grade municipal bond yields for the years 1942-2014 [Table B–17]. The annual yield was 4.29 in 2005 and 4.42 in 2007. The 4.29 yield exactly matches the figure cited by the Census Bureau in this paper that details their methodology of creating the CPS “return to home equity” variable.

Hope this helps.

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