Responses of selected economic indicators to construction output shocks: the case of Singapore
The volume of construction output fluctuates in response to changes in demand and supply conditions. Due to the multiple linkages that the construction industry has with other economic sectors and the entire economy, the output shock is propagated through the economic system and reflected in several economic indicators, such as the outputs of other sectors, balance of payments and general prices. A study is reported on the short-term responses of some economic indicators in Singapore following a shock in the construction output, using the Granger causality approach, the impulse response function and variance decomposition analysis. Construction output shock had significant impact on the outputs of the commerce sector and 'other services'. The heavy reliance of the Singapore construction industry on imported inputs has a direct impact on the balance of payments.
Volume (Year): 20 (2002)
Issue (Month): 6 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/RCME20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/RCME20|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
- Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119, July.
- Granger, C. W. J. & Newbold, P., 1974. "Spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 2(2), pages 111-120, July.
- Peter C.B. Phillips & Pierre Perron, 1986.
"Testing for a Unit Root in Time Series Regression,"
Cowles Foundation Discussion Papers
795R, Cowles Foundation for Research in Economics, Yale University, revised Sep 1987.
- Phillips, P.C.B., 1986. "Testing for a Unit Root in Time Series Regression," Cahiers de recherche 8633, Universite de Montreal, Departement de sciences economiques.
- Tom Doan, . "PPUNIT: RATS procedure to perform Phillips-Perron Unit Root test," Statistical Software Components RTS00160, Boston College Department of Economics.
- Horvath, Michael, 2000. "Sectoral shocks and aggregate fluctuations," Journal of Monetary Economics, Elsevier, vol. 45(1), pages 69-106, February.
- Entorf, Horst, 1990.
"Real Business Cycles: Is Neglecting Demand Shocks Justified ?,"
Discussion Papers (IRES - Institut de Recherches Economiques et Sociales)
1991002, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Entorf, Horst, 1992. "Real Business Cycles: Is Neglecting Demand Shocks Justified?," Empirical Economics, Springer, vol. 17(4), pages 463-84.
- Engle, Robert & Granger, Clive, 2015.
"Co-integration and error correction: Representation, estimation, and testing,"
Publishing House "SINERGIA PRESS", vol. 39(3), pages 106-135.
- Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
- Chan Swee Lean, 2001. "Empirical tests to discern linkages between construction and other economic sectors in Singapore," Construction Management and Economics, Taylor & Francis Journals, vol. 19(4), pages 355-363.
- Mankiw, N. Gregory & Campbell, John, 1987.
"Permanent and Transitory Components in Macroeconomic Fluctuations,"
3207697, Harvard University Department of Economics.
- Campbell, John Y & Mankiw, N Gregory, 1987. "Permanent and Transitory Components in Macroeconomic Fluctuations," American Economic Review, American Economic Association, vol. 77(2), pages 111-17, May.
- John Y. Campbell & N. Gregory Mankiw, 1987. "Permanent and Transitory Components in Macroeconomic Fluctuations," NBER Working Papers 2169, National Bureau of Economic Research, Inc.
- Will Hughes & Patricia Hillebrandt & John Murdoch, 2000. "The impact of contract duration on the cost of cash retention," Construction Management and Economics, Taylor & Francis Journals, vol. 18(1), pages 11-14.
- Hendry, David F, 1986. "Econometric Modelling with Cointegrated Variables: An Overview," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 48(3), pages 201-12, August.
- Long, John B, Jr & Plosser, Charles I, 1983. "Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 39-69, February.
- Park, Se-Hark, 1989. "Linkages between industry and services and their implications for urban employment generation in developing countries," Journal of Development Economics, Elsevier, vol. 30(2), pages 359-379, April.
- Olugboyega Adams, 1997. "Contractor development in Nigeria: perceptions of contractors and professionals," Construction Management and Economics, Taylor & Francis Journals, vol. 15(1), pages 95-108.
- Granger, C. W. J., 1988. "Some recent development in a concept of causality," Journal of Econometrics, Elsevier, vol. 39(1-2), pages 199-211.
- Lucke, Bernd, 1998. "Productivity shocks in a sectoral real business cycle model for West Germany," European Economic Review, Elsevier, vol. 42(2), pages 311-327, February.
When requesting a correction, please mention this item's handle: RePEc:taf:conmgt:v:20:y:2002:i:6:p:523-533. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.