The Dynamic Impact of Unseasonable Weather on Construction Activity
研究反常气温和降水增加对美国四个普查区住房开工和竣工的影响，使用过度识别向量自回归模型估计动态效应，发现天气冲击有持久影响，但仅在中北部地区影响较大。
We simulate the effects of unseasonable increases in temperature and precipitation on housing starts and completions in each of the four Census regions. Using an overidentified vector autoregression model the dynamics of housing starts and completions are estimated. The persistence of housing activity over time implies that weather shocks also have long‐lasting effects, though the impact seems large only in the North Central region.