Skyscraper Indicator and its application in the UK

Arvydas Jadevicius

ERES from European Real Estate Society (ERES)

Abstract: Objective: The research examines Skyscraper Indicator and its application in the UK.Research Design & Methods: It employs dummy variable regression to test the hypothesis. The study selects quarterly UK GDP and GDP per capita series over Q1 1960 - Q4 2014 period as macro variables and a series of dummies for construction starts, durations and completions of the recordbreaking buildings in the UK.Findings: The estimates suggest that the announcement of the construction of tallest building in the UK is related to national GDP.Implications & Recommendations: To make robust economic forecasts, analysts may use the announcement of the construction of the record breaking skyscraper as a possible bell-weather in gaging future direction of the UK economy. They may turn their gaze towards the London skyline when contemplating UK market movements.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2016-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2016_51

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