data sasuser.PE_DATA; label pe10="Price-Earnings Ratio"; input Year re pe re10 pe10 label; cards; 1881 8.748326716 12.63265306 7.537763587 18.21479737 . 1882 8.712312283 13.45454545 7.736350471 15.61534241 . 1883 8.772956612 13.51162791 7.860859788 15.21615679 . 1884 7.580501458 12.95 7.810135656 14.45259058 . 1885 6.838179787 13.67741935 7.82213087 13.27527484 . 1886 8.357775295 19.25925926 8.13992424 16.83662413 . 1887 8.703106708 16.90909091 8.352263165 17.36163361 . 1888 6.584913869 14.75 8.252704406 15.36958563 . 1889 7.977874028 20.15384615 8.280566537 16.08095171 . 1890 7.523849831 17.93333333 7.979979659 17.27778813 . 1891 9.393863217 16.68965517 8.044533309 15.73568663 . 1892 9.483735093 16.20588235 8.12167559 18.92413597 . 1893 7.682400812 15.16216216 8.01262001 17.70495851 . 1894 4.933176162 16.61538462 7.74788748 15.93062495 . 1895 7.59797756 26.5625 7.823867257 16.91267357 . 1896 6.570014733 17.08 7.645091201 16.58686842 . 1897 9.421492175 20.0952381 7.716929748 17.2693833 . 1898 10.48734391 15.74193548 8.107172752 19.21911004 . 1899 12.3032239 17.37142857 8.539707739 22.47147694 . 1900 12.60701841 12.70833333 9.048024598 18.30899549 . 1901 12.81585823 14.72916667 9.390224099 20.52280842 . 1902 14.72837353 16.24 9.914687943 22.16449102 . 1903 12.96021217 13.42857143 10.44246908 19.94828451 . 1904 11.71288058 12.60377358 11.12043952 15.6426204 . 1905 16.01557141 17.20408163 11.96219891 18.12062854 . 1906 17.38554578 14.73134328 13.04375201 19.72303606 . 1907 15.42972465 12.57894737 13.64457526 16.76602446 . 1908 13.12673905 10.37878788 13.90851477 11.73666722 . 1909 15.5465983 15.62068966 14.23285221 14.74267528 . 1910 16.01064582 13.26315789 14.57321495 14.48739753 . 1911 13.07481658 12.69863014 14.59911079 13.9511611 . 1912 14.45828571 15.45762712 14.572102 13.84369516 . 1913 12.752208 13.28571429 14.55130159 13.18194541 . 1914 10.42141782 13.28571429 14.42215531 11.64309536 . 1915 17.12750769 14.38461538 14.53334894 10.39429155 . 1916 26.46978462 10.60227273 15.44177282 12.49474629 . 1917 18.50660571 6.254901961 15.74946093 10.72194945 . 1918 12.14496 5.6328125 15.65128303 6.618908448 . 1919 9.753724352 7.929292929 15.07199563 6.152910614 . 1920 8.522778947 9.494623656 14.32320894 6.144371604 . 1921 3.473410651 8.8875 13.36306835 5.288353901 . 1922 8.313514286 25.17241379 12.74859121 6.542968118 . 1923 11.46633988 12.89855072 12.6200044 8.411304745 . 1924 10.88132254 9.010204082 12.66599487 8.186531413 . 1925 14.13519553 11.37634409 12.36676365 9.773386982 . 1926 14.34261943 10.12 11.15404713 11.56714746 . 1927 12.98738497 10.80645161 10.60212506 13.89565787 . 1928 16.33532632 15.79279279 11.02116169 19.3458461 . 1929 19.0578807 18.01449275 11.95157733 26.70068962 1929 1930 12.34864906 13.48447205 12.33416434 21.50222122 . 1931 8.634528671 16.4742268 12.85027614 16.49357344 . 1932 6.433376744 13.60655738 12.66226238 9.142699232 . 1933 6.7472 17.29268293 12.1903484 8.78597685 . 1934 7.292929412 23.95454545 11.83150908 13.25853075 . 1935 11.14754783 18.89795918 11.53274431 11.64868162 . 1936 14.64285957 18.10526316 11.56276833 17.50054293 . 1937 16.10775211 17.24509804 11.87480504 21.83884878 . 1938 9.253302857 10.00884956 11.1666027 13.57664964 . 1939 13.10607194 19.53125 10.57142182 16.18474091 . 1940 15.07353191 13.66666667 10.84391011 16.94344617 . 1941 14.95557707 10.04761905 11.47601495 13.96665086 . 1942 12.33659645 7.698275862 12.06633692 10.03241617 . 1943 10.93511724 9.796116505 12.48512864 10.01552807 . 1944 10.57566742 12.60638298 12.81340244 11.04131802 . 1945 10.67688791 14.50537634 12.76633645 11.97215468 . 1946 9.979579535 18.77083333 12.30000845 15.69863714 . 1947 13.75062278 14.3490566 12.06429551 11.64206937 . 1948 19.31386 9.211180124 13.07035123 10.49870365 . 1949 19.9831966 6.707423581 13.75806369 9.911458212 . 1950 22.63234016 7.275862069 14.51394452 10.56798292 . 1951 18.63754868 7.468309859 14.88214168 11.64571967 . 1952 18.26309774 9.913934426 15.47479181 12.4156482 . 1953 18.88714349 10.90833333 16.26999443 12.87383768 . 1954 20.99971236 10.14342629 17.31239893 11.77507151 . 1955 27.34126567 12.85198556 18.9788367 15.58928957 . 1956 25.00864348 12.1961326 20.4817431 17.5699758 . 1957 23.85111608 13.32258065 21.49179243 16.26715402 . 1958 20.17180138 12.20178042 21.57758656 13.54126614 . 1959 23.41946212 19.24567474 21.92121312 17.9918142 . 1960 22.21142013 17.1179941 21.87912111 18.28795752 . 1961 21.523568 18.26299694 22.16772305 18.54037445 . 1962 24.43640526 21.65203762 22.7850538 21.02286748 . 1963 26.33373204 17.72752044 23.52971265 19.01232613 . 1964 29.519 19.01741294 24.38164142 21.28370472 . 1965 33.03581887 18.92747253 24.95109674 22.9156049 . 1966 34.14616413 17.98073218 25.8648488 23.80689785 . 1967 31.63862991 15.21621622 26.64360018 20.08809023 . 1968 32.75045393 17.83114447 27.90146544 21.17405218 . 1969 30.95144127 17.71527778 28.65466336 20.79401134 . 1970 26.09030352 15.62456747 29.04255169 16.87693471 . 1971 28.07229197 18.22417154 29.69742409 16.37163882 . 1972 30.50494648 18.12280702 30.30427821 17.13107266 . 1973 35.44451845 18.44548287 31.21535685 18.5676248 . 1974 34.53892975 11.77818627 31.71734983 13.37393459 . 1975 28.97898129 8.161979753 31.31166607 8.888070624 . 1976 34.28961641 12.16834171 31.3260113 11.2618136 . 1977 35.26896384 10.4752775 31.68904469 11.46629374 . 1978 36.54157072 8.287419651 32.06815637 9.223651481 . 1979 38.66197635 8.086780211 32.83920988 9.21486248 . 1980 34.48051862 7.460969044 33.67823139 8.783883955 . 1981 32.97041103 8.972334683 34.16804329 9.186074813 . 1982 26.1609227 7.635416667 33.73364092 7.367785849 . 1983 27.86944534 11.41376582 32.97613361 8.851539214 . 1984 31.92608758 11.8595866 32.71484939 10.0230095 . 1985 26.9826438 10.31310096 32.51521564 10.06444996 . 1986 26.35776691 14.24982888 31.72203069 11.82517321 . 1987 30.61607606 18.26726519 31.25674191 15.17823127 . 1988 39.71432007 14.31314286 31.57401684 14.01976801 . 1989 36.336373 12.01220539 31.34145651 15.10915041 . 1990 32.09180862 14.86532575 31.10258551 17.23442627 . 1991 23.31961303 15.25304592 30.13750571 15.73817169 . 1992 27.09762581 26.15210559 30.23117602 20.23581475 . 1993 30.29317428 22.79884756 30.47354891 20.43568003 . 1994 41.21044311 21.61745887 31.40198447 21.48950392 . 1995 44.52103212 15.20424837 33.1558233 19.95331897 . 1996 49.27449202 18.09246172 35.44749581 24.29422615 . 1997 49.7522495 19.78363026 37.36111316 27.50062618 . 1998 46.44603287 24.25377644 38.03428444 32.29775118 . 1999 57.76290711 33.12387268 40.17693785 40.44962333 . 2000 57.80011422 29.59497613 42.74776841 42.54908284 2000 2001 28.21937346 26.6186 43.23774445 35.99154243 . 2002 30.73559406 46.18104496 43.60154128 30.14033621 . 2003 53.27081987 32.46973541 45.89930583 22.88856259 . 2004 62.14712533 22.17152236 47.99297406 25.73231016 . 2005 71.38149713 20.48181042 50.67902056 26.52233299 . 2006 81.51 18.04761905 53.90257135 25.42010586 . 2007 63.4335206 17.37725432 55.27069846 26.2774106 . 2008 14.2649772 22.3514657 52.0525929 25.65251027 . 2009 . 58.97580645 51.41811354 16.1622791 . ; ods graphics / reset imagename="pe"; title "The Danger of High Price-Earnings Ratios"; footnote j=l "Source: Robert J. Shiller"; proc sgplot data=sasuser.pe_data noautolegend; yaxis offsetmin=0; band x=year upper=pe10 lower=0 / fillattrs=(color=red); band x=year upper=20 lower=0; refline 20 / label="PE=20"; refline 10 20 30 40 / lineattrs=GraphGridLines; series x=year y=pe10 / lineattrs=GraphData1 datalabel=label; run;