Search Results

Showing results 1 to 2 of approximately 2.

(refine search)
SORT BY: PREVIOUS / NEXT
Keywords:residential investment 

Working Paper
Reconstructing the great recession

This paper evaluates the role of the construction sector in accounting for the performance of the U.S. economy before, during and after the Great Recession. We use input-output analysis to evaluate its linkages with the rest of the economy and measure the transmission of its demand shocks to the overall economy. Such effects are quantified by means of a dynamic multi-sector model parameterized to reproduce the boom-bust dynamics of employment in construction during 2000-13. The model suggests that the interlinkages account for a large share of the actual changes in aggregate employment and ...
Working Papers , Paper 2013-006

Working Paper
Monetary Policy, Residential Investment, and Search Frictions: An Empirical and Theoretical Synthesis

Using a factor-augmented vector autoregression (FAVAR), this paper shows that residential investment contributes substantially to GDP following monetary policy shocks. Further, it shows that the number of new housing units built, not changes in the sizes of existing or new housing units, drives residential investment fluctuations. Motivated by these results, this paper develops a dynamic stochastic general equilibrium (DSGE) model where houses are built in discrete units and traded through searching and matching. The search frictions transmit shocks to housing construction, making them ...
Working Papers (Old Series) , Paper 1607

FILTER BY year

FILTER BY Series

FILTER BY Content Type

FILTER BY Jel Classification

C32 1 items

E22 1 items

E30 1 items

E32 1 items

E40 1 items

E50 1 items

show more (3)

PREVIOUS / NEXT