Residential Construction Volatility: A Seasonal and Cyclical Inventory Adjustment Analysis

Richard D. Evans

Real Estate Economics, 1981, vol. 9, issue 1, 74-82

Abstract: The seasonality of inventories and the seasonality and cyclicality of sales of new single‐family residences by speculative builders may be formally introduced into a partial production adjustment inventory model of housing starts. The theoretical results include variables that imply an interaction between seasonality and cyclicality. A specification error bias in the estimation of the partial adjustment coefficient is evaluated for models that exclude the interaction between seasonality and cyclicality. Stabilization policy is more complex when cyclical instability changes season to season. In this view, justification is found for a seasonal stabilization policy in housing.

Date: 1981
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/1540-6229.00233

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:reesec:v:9:y:1981:i:1:p:74-82

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1080-8620

Access Statistics for this article

Real Estate Economics is currently edited by Crocker Liu, N. Edward Coulson and Walter Torous

More articles in Real Estate Economics from American Real Estate and Urban Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().