Reconstructing the Great Recession

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type , Preprint 01 Jan 2013Publisher:Federal Reserve Bank of St. LouisJournal:Review, volume 102

Authors: Michele Boldrin; Carlos Garriga; Adrian Peralta-Alva; Juan M. Sánchez;

doi: 10.20955/r.102.271-311 , 10.2139/ssrn.2217710

Reconstructing the Great Recession

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Abstract

This article uses dynamic equilibrium input-output models to evaluate the contribution of the construction sector to the Great Recession and the expansion preceeding it. Through production interlinkages and demand complementarities, shifts in housing demand can propagate to other economic sectors and generate a large and sustained aggregate cycle.

Related Organizations

Washington University in St. Louis
United States
Federal Reserve Bank of St. Louis
United States
University of Mary
United States
Federal Reserve System
United States

Keywords

Residential investment; multisector models; business cycle accounting, jel: jel:O41, jel: jel:E32, jel: jel:E22

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