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The Dynamic Impact of Unseasonable Weather on Construction Activity

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  • N. Edward Coulson
  • Christian Richard

Abstract

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.

Suggested Citation

  • N. Edward Coulson & Christian Richard, 1996. "The Dynamic Impact of Unseasonable Weather on Construction Activity," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 24(2), pages 179-194.
    • Handle: RePEc:bla:reesec:v:24:y:1996:i:2:p:179-194
    DOI: 10.1111/1540-6229.00686
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    Cited by:

    1. Charles W. Calomiris & Stanley D. Longhofer & William Miles, 2008. "The Foreclosure-House Price Nexus: Lessons from the 2007-2008 Housing Turmoil," NBER Working Papers 14294, National Bureau of Economic Research, Inc.
    2. Mense, Andreas, 2023. "Secondary housing supply," LSE Research Online Documents on Economics 118645, London School of Economics and Political Science, LSE Library.
    3. Mense, Andreas, 2021. "Secondary housing supply," FAU Discussion Papers in Economics 05/2021, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics.
    4. Kulaksizoglu, Tamer, 2004. "Measuring the Effectiveness of Competition Policy: Evidence from the Turkish Cement Industry," MPRA Paper 357, University Library of Munich, Germany.
    5. Ball, Michael & Meen, Geoffrey & Nygaard, Christian, 2010. "Housing supply price elasticities revisited: Evidence from international, national, local and company data," Journal of Housing Economics, Elsevier, vol. 19(4), pages 255-268, December.
    6. Bradley Ewing & Jamie Kruse & Yongsheng Wang, 2007. "Local housing price index analysis in wind-disaster-prone areas," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 40(2), pages 463-483, February.
    7. Bradley T. Ewing & Jamie Brown Kruse & Dan Sutter, 2007. "Hurricanes and Economic Research: An Introduction to the Hurricane Katrina Symposium," Southern Economic Journal, John Wiley & Sons, vol. 74(2), pages 315-325, October.
    8. Mense, Andreas, 2020. "The Impact of New Housing Supply on the Distribution of Rents," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224569, Verein für Socialpolitik / German Economic Association.
    9. William Miles, 2009. "Irreversibility, Uncertainty and Housing Investment," The Journal of Real Estate Finance and Economics, Springer, vol. 38(2), pages 173-182, February.
    10. Patrick Gourley, 2021. "Curb appeal: how temporary weather patterns affect house prices," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 67(1), pages 107-129, August.

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