Residential Investment, Non‐residential Investment and GDP

N. Edward Coulson · Myeong‐Soo Kim

95 citations0/0 files storedReal Estate Economics

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Monetary Policy and Economic Impact Housing Market and Economics Economic Theory and Policy

Abstract

We examine the causality and influence of residential and non‐residential investment with respect to GDP and its components in a multivariate, vector autoregressive context, with some care devoted to the appropriate orthogonalization of the shocks which drive the various components of GDP. We find that residential investment shocks are more important in the determination of GDP than non‐residential investment shocks.

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References

1997Impulse Response Functions Based on a Causal Approach to Residual Orthogonalization in Vector Autoregressions 2019Fiscal Policy and Aggregate Demand 2009International Business Cycles 1997Follow the Leader: How Changes in Residential and Non‐residential Investment Predict Changes in GDP

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