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150128 ||| eng |
| 020 |
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|a 9781484392485
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| 100 |
1 |
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|a Sun, Yan
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| 245 |
0 |
0 |
|a The Driving Force behind the Boom and Bust in Construction in Europe
|c Yan Sun, Pritha Mitra, Alejandro Simone
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2013
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| 300 |
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|a 36 pages
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| 651 |
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4 |
|a Spain
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| 653 |
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|a National Government Expenditures and Related Policies: Infrastructures
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| 653 |
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|a Stock exchanges
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| 653 |
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|a Income
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| 653 |
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|a Capital investments
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| 653 |
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|a Finance
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a Infrastructure
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| 653 |
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|a Economic Development: Urban, Rural, Regional, and Transportation Analysis
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| 653 |
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|a Housing
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| 653 |
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|a Other Public Investment and Capital Stock
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a Aggregate Factor Income Distribution
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| 653 |
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|a National accounts
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| 653 |
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|a National Government Expenditures and Related Policies: General
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| 653 |
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|a Expenditure
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| 653 |
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|a Macroeconomics: Production
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| 653 |
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|a Cycles
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| 653 |
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|a Financial markets
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| 653 |
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|a Saving and investment
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| 653 |
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|a Stock markets
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| 653 |
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|a Expenditures, Public
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Capital spending
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| 653 |
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|a Construction
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| 653 |
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|a Business Fluctuations
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| 653 |
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|a Economic History: Manufacturing and Construction: Europe: 1913-
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| 653 |
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|a Public Finance
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| 653 |
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|a Environmental Accounts
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| 653 |
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|a Finance: General
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| 653 |
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|a Measurement and Data on National Income and Product Accounts and Wealth
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| 700 |
1 |
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|a Mitra, Pritha
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| 700 |
1 |
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|a Simone, Alejandro
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781484392485.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2013/181/001.2013.issue-181-en.xml?cid=40883-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a This paper studies the factors behind pro-cyclical but widely varying construction shares (as a percent of GDP) across countries, with a strong focus on European countries. Using a dataset covering 48 countries (including advanced and emerging economies within and outside Europe) for 1990-2011, we find that country’s geography, demographics, and economic conditions are the key determinants of a norm around which actual construction shares revolve in a simple AR(1) and error-correction process. The empirical results show that in many European countries, construction shares overshoot relative to their norms before the recent global crisis, but they have fallen significantly since the crisis. Nevertheless, there is still room for further adjustment in construction shares in some countries which may weigh on economic recovery
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