The consumption series is constructed from consumption of nondurables (`ND`) with the nondurables deflator.

The hidden cell below loads a vendored monthly dataset of returns and consumption series. The data are built from the [FRED](https://fred.stlouisfed.org/) and [Ken French](https://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data_library.html) data libraries by the maintenance script at [`_static/lecture_specific/hansen_singleton_1983/make_data.py`](https://github.com/QuantEcon/lecture-python.myst/blob/main/lectures/_static/lecture_specific/hansen_singleton_1983/make_data.py) and read here directly from GitHub.

The hidden cell below loads a monthly dataset of returns and consumption series from [QuantEcon/data-lectures](https://github.com/QuantEcon/data-lectures). The data are built from the [FRED](https://fred.stlouisfed.org/) and [Ken French](https://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data_library.html) data libraries by the maintenance script at [`builders/hansen_singleton_1983_data.py`](https://github.com/QuantEcon/data-lectures/blob/main/builders/hansen_singleton_1983_data.py) and read here directly from GitHub.

```{code-cell} ipython3

:tags: [hide-cell]

DATA_URL = (

"https://github.com/QuantEcon/lecture-python.myst/raw/refs/heads/main/"

"lectures/_static/lecture_specific/hansen_singleton_1983/"

"hansen_singleton_1983_data.csv"

)

DATA_URL = "https://github.com/QuantEcon/data-lectures/raw/main/lectures/hansen_singleton_1983_data.csv"

# Read the vendored snapshot once; load_hs_monthly_data just slices it.

# Fetch the snapshot once; load_hs_monthly_data just slices it.

_data = pd.read_csv(DATA_URL, index_col=0, parse_dates=True)

gross consumption growth, gross consumption inflation, per capita real

consumption, and gross real T-bill return.

The data are a vendored snapshot built by the maintenance script at

``_static/lecture_specific/hansen_singleton_1983/make_data.py``, which

constructs them from FRED and the Ken French data library.

The data are a snapshot built by the maintenance script at

``builders/hansen_singleton_1983_data.py`` in QuantEcon/data-lectures,

which constructs them from FRED and the Ken French data library.

"""

start = pd.Timestamp(start).to_period("M").to_timestamp("M")

end = pd.Timestamp(end).to_period("M").to_timestamp("M")