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On the temporary and permanent components of global construction

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  • Paul Alagidede

Abstract

This letter applies unobserved components models to decompose global construction series. By examining the temporary and permanent trends in a structural time-series framework, the uninterpretable difficulties inherent in bandpass filters are overcome and the trend-cycle decomposition of the construction series is treated as a special case. Overall global construction mimic patterns in the global economy: falling with recessions and rising with upturns. Understanding the cyclical behaviour of global construction output and its long run trend holds important lessons for smoothing the construction cycle.

Suggested Citation

  • Paul Alagidede, 2016. "On the temporary and permanent components of global construction," Applied Economics Letters, Taylor & Francis Journals, vol. 23(4), pages 284-289, March.
    • Handle: RePEc:taf:apeclt:v:23:y:2016:i:4:p:284-289
    DOI: 10.1080/13504851.2015.1071461
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    Cited by:

    1. Yanfang Sun & Haiyan Xie & Xirong Niu, 2019. "Characteristics of Cyclical Fluctuations in the Development of the Chinese Construction Industry," Sustainability, MDPI, vol. 11(17), pages 1-14, August.

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