The comovements of construction in Italy's regions, 1861-1913

Carlo Ciccarelli (), Stefano Fenoaltea () and Tommaso Proietti

MPRA Paper from University Library of Munich, Germany

Abstract: This paper examines the comovements of construction in Italy's regions from 1861 to 1913. The dynamic correlations of the series' deviation cycles decline in the case of buildings, remain very low in that of railways, and tend to decline in that of other infrastructure; the total-construction correlations instead peak in the 1870s, and again after 1900. Long-term comovements are examined by tracking the dispersion of the first differences of the measured trends. Increasing dispersion is obtained in the construction of buildings and of non-rail infrastructure; railway construction displayed a dramatic decline in dispersion, which dominates the aggregate.

Keywords: construction; regions; post-Unification Italy; trends; cycles; comovements (search for similar items in EconPapers)
JEL-codes: C14 E32 H54 N13 N63 (search for similar items in EconPapers)
Date: 2008-05-23
New Economics Papers: this item is included in nep-geo, nep-his and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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