hreadme_matlab.txt
==================

In this folder are the MATLAB programs and data
used for "Creative Destruction and Asset Prices"

TwoPassGMM_JFQA.m: the front-end program that can be used to replicate all results except the bootstrap.
Please take a look at the comments in the file on how to change the settings.

Bootstrap_TwoPassGMM_JFQA_v2.m: the front-end program that produces the bootstrap results.
Change the global variable freq for a different frequency, model for a different model
and testassets for different test assets (details in the comments to the program)

The default setting produces the results for the CDRM at annual frequency using
value-weighted size and book-to-market test assets.
(model=3, freq=1, testassets=1)

two_pass_regression_GMM.m: is included by the two front-ends. It contains code that
is the same for all models.

There are 15 function files used by the frond-ends. Please refer to the commends in the Matlab files to 
figure out what each function does.

data_input.m: also included by the two front-ends. The function reads in the data and 
prepares them such that they can be used.

complete_A.xls Annual data in EXCEL format
complete_Q.xls Quarterly data in EXCEL format
complete_A.mat Annual data in MATLAB .mat format
complete_q.mat Quarterly data in MATLAB .mat format

readme_matlab.txt: this file

Windows users
Copy the .zip file in a folder and unzip the contents in that folder. open MATLAB and change
the working directory to that path. open the front-end programs and run them

Linux users:
unzip .zip file in a folder and change to that folder and start Matlab from it. run the front-end files.

Note that the run of the bootstrap files takes a while. The number of bootstrap replications is
set to 4999.
 