Stylized Facts About Industrial Property Construction

John L. Kling and Thomas E. McCue ()
Additional contact information
John L. Kling: Department of Finance College of Business and Economics Washington State University Pullman, Washington 99164-4746, http://www.cbe.wsu.edu/departments/fire/index.html
Thomas E. McCue: Department of Finance and Real Estate School of Business Administration Duquesne University Pittsburgh, Pennsylvania 15282, http://www.bus.duq.edu/

Journal of Real Estate Research, 1991, vol. 6, issue 3, 293-304

Abstract: This paper investigates the relationship between industrial property construction and the macroeconomy. The paper uses vector autoregressions to model this relationship, which allows the lags inherent in the construction process to be modeled. The results indicate that employment shocks account for the majority of the variation in industrial property construction. Shocks in output and nominal interest rates also exhibit some influence, but their influence is through employment. Finally, the paper shows that these economic variables affect industrial construction with a lag, although the lags are generally shorter than those report for office property.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1991
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://pages.jh.edu/jrer/papers/pdf/past/vol06n03/v06p293.pdf Full text (application/pdf)

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:jre:issued:v:6:n:3:1991:p:293-304

Ordering information: This journal article can be ordered from
Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
http://pages.jh.edu/jrer/about/get.htm

Access Statistics for this article

Journal of Real Estate Research is currently edited by Dr. Ko Wang

More articles in Journal of Real Estate Research from American Real Estate Society American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323.
Bibliographic data for series maintained by JRER Graduate Assistant/Webmaster ().