| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18432 |
| 来源ID | Working Paper 18432 |
| Housing Dynamics over the Business Cycle | |
| Finn E. Kydland; Peter Rupert; Roman Sustek | |
| 发表日期 | 2012-10-05 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | Over the U.S. business cycle, fluctuations in residential investment are well known to systematically lead GDP. These dynamics are documented here to be specific to the U.S. and Canada. In other developed economies residential investment is broadly coincident with GDP. Nonresidential investment has the opposite dynamics, being coincident with or lagging GDP. These observations are in sharp contrast with the properties of nearly all business cycle models with disaggregated investment. Including mortgages and interest rate dynamics aligns the theory more closely with U.S. observations. Longer time to build in housing construction makes residential investment coincident with output. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles ; Regional and Urban Economics ; Real Estate |
| URL | https://www.nber.org/papers/w18432 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/576108 |
| 推荐引用方式 GB/T 7714 | Finn E. Kydland,Peter Rupert,Roman Sustek. Housing Dynamics over the Business Cycle. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18432.pdf（282KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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