The Dynamic Impact of Unseasonable Weather on Construction Activity
REAL ESTATE ECONOMICS, Vol. 24 No. 2
Posted: 14 May 1998
We simulate the effects of unseasonable increases in temperature and precipitation on housing starts and completions in each of the four Census regions. Using an over identified vector autoregression model the dynamics of housing starts and completions are estimated. The persistence of housing activity over time implies that weather shocks also have long-lasting effects, though the impact seems large on in the North Central region.
JEL Classification: R39
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