Residential and Nonresidential Investment and the Cycle: A Rejoinder

Michalis Nikiforos, Marcio Santetti and Rudiger von Arnim

Review of Political Economy, 2024, vol. 36, issue 5, 2116-2120

Abstract: Our article on ‘The Sraffian supermultiplier and cycles’ provides evidence that aggregate investment in the post-war US leads the cycle. Summa, Petrini and Texeira's reply shows that only residential investment leads, whereas business investment lags the cycle. Their results could be interpreted to support supermultiplier theory. In this rejoinder, we argue that key problems and questions remain, chief among them excessively strong assumptions. Residential investment cannot plausibly be seen as autonomous, and business investment cannot plausibly be seen as fully induced.

Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/09538259.2022.2156726 (text/html)
Access to full text is restricted to subscribers.

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:taf:revpoe:v:36:y:2024:i:5:p:2116-2120

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/CRPE20

DOI: 10.1080/09538259.2022.2156726

Access Statistics for this article

Review of Political Economy is currently edited by Steve Pressman and Louis-Philippe Rochon

More articles in Review of Political Economy from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().