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Title: The Impact of Real Estate Cycles on Construction Lags
Other Titles: 房地產景氣對生產時間落差之影響
Authors: Peng, Chien-Wen;Chang, Chin-Oh;Lin, Antsong
Contributors: 地政系
Keywords: Construction lags;Real estate cycles;Building permits;Usage permits;Cointegrartion tests
Date: 1998-12
Issue Date: 2015-10-12 13:56:36 (UTC+8)
Abstract: This paper explores the influence of real estate cycles on construction lags by analyzing the fluctuations in building permits and usage permits as measured by total floor area. Results support the hypothesis that a long-run equilibrium exists between building and usage; however, building permits issued may fall during a downswing in the market. In addition, the duration of construction lags is affected by changes in real estate cycles and by the impact of government policies. When the market is strong, the duration of construction lags shortens and the duration is extended when the market is depressed.
Relation: 經濟論文叢刊
Taiwan Economic Review, 26(4), 409-429
Data Type: article
Appears in Collections:[經濟學系] 期刊論文

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