Reconstructing the Great Recession

Boldrin, Michele; Garriga, Carlos; Peralta-Alva, Adrian; Sanchez, Juan M.

doi:10.20955/r.102.271-311

Journal Article

Reconstructing the Great Recession

Abstract: This article uses dynamic equilibrium input-output models to evaluate the contribution of the construction sector to the Great Recession and the expansion preceeding it. Through production interlinkages and demand complementarities, shifts in housing demand can propagate to other economic sectors and generate a large and sustained aggregate cycle.

JEL Classification: E22; E32; O41;

https://doi.org/10.20955/r.102.271-311