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Patterns of Office Employment Cycles

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Author Info
Leon Shilton () (Fordham Graduate School of Business New York, New York 10023)
Abstract

Based upon an the analysis of quarterly office employment and total employment changes from 1975 through 1994, this research concludes that for a majority of the fifty metropolitan areas, office employment cycles are converging towards seven year cycles. However, many of the patterns are emerging and for one-third of the cities, the office employment changes are a random walk. While changes in office employment and total employment are correlated, neither series lags or leads the other. Office employment grew faster than total employment, but office employment changes were more volatile.

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File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol15n03/v15p339.pdf
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Publisher Info
Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

Volume (Year): 15 (1998)
Issue (Month): 3 ()
Pages: 339-354
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Handle: RePEc:jre:issued:v:15:n:3:1998:p:339-354

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Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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Find related papers by JEL classification:
L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

References listed on IDEAS
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  1. Waldo L. Born & Stephen A. Pyhrr, 1994. "Real Estate Valuation: The Effect of Market and Property Cycles," Journal of Real Estate Research, American Real Estate Society, vol. 9(4), pages 455-486. [Downloadable!]
  2. Leon G. Shilton & Janet K. Tandy, 1993. "The Information Precision of CBD Office Vacancy Rates," Journal of Real Estate Research, American Real Estate Society, vol. 8(3), pages 421-444. [Downloadable!]
  3. Shilling, James D. & Sirmans, C. F. & Corgel, John B., 1987. "Price adjustment process for rental office space," Journal of Urban Economics, Elsevier, vol. 22(1), pages 90-100, July. [Downloadable!] (restricted)
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This page was last updated on 2009-12-3.


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