Residential Investment, Non‐residential Investment and GDP
研究住宅投资和非住宅投资对GDP及其组成部分的因果关系和影响，发现住宅投资冲击对GDP的决定作用比非住宅投资冲击更重要。
We examine the causality and influence of residential and non‐residential investment with respect to GDP and its components in a multivariate, vector autoregressive context, with some care devoted to the appropriate orthogonalization of the shocks which drive the various components of GDP. We find that residential investment shocks are more important in the determination of GDP than non‐residential investment shocks.