大衰退前后的结构悬垂

Economic commentary Pub Date : 2014-03-28 DOI:10.26509/FRBC-EC-201404

Filippo Occhino, M. Jacobson

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引用次数: 0

摘要

建筑投资仍比衰退前的峰值低29%。我们使用一种新的经济条件下的结构水平指标，发现本世纪头五年投资水平过高的证据。这种过度投资造成了建筑过剩，在经济复苏期间抑制了建筑投资的增长。

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The Overhang of Structures before and since the Great Recession

Investment in structures is still 29 percent below its pre-recession peak. Using a new indicator of the level of structures that would be warranted by economic conditions, we find evidence that the level of investment was too high in the first half of the 2000s. This overinvestment created an overhang of structures which has held down the growth of investment in structures during the recovery.

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Economic commentary

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