Residential and Nonresidential Investment and the Cycle
A Rejoinder
Bibliographic Data
| ID | 12229960 |
|---|---|
| Authors | Michalis Nikiforos (0000-0003-1477-7593, University of Geneva), Márcio Santetti (0000-0001-8445-9916, Skidmore College), Rudiger von Arnim (0000-0003-4745-5080, University of Utah, corresponding author) |
| Year | 2023 |
| Volume | 36 |
| Issue | 5 |
| Pages | 2116-2120 |
| Publication date | 2023-01-24 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Review of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0953-8259 • E-ISSN: 1465-3982 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/09538259.2022.2156726 |
| OpenAlex | W4317831493 |
| Language | EN |
| References cited | 7 |
Our article on ‘The Sraffian supermultiplier and cycles’ provides evidence that aggregate investment in the post-war US leads the cycle. Summa, Petrini and Texeira's reply shows that only residential investment leads, whereas business investment lags the cycle. Their results could be interpreted to support supermultiplier theory. In this rejoinder, we argue that key problems and questions remain, chief among them excessively strong assumptions. Residential investment cannot plausibly be seen as autonomous, and business investment cannot plausibly be seen as fully induced
Aggregate (composite · Business cycle · Economics · Investment (military · Keynesian economics · Macroeconomics · Monetary economics · Neoclassical economics · Political science · Politics · Economic theories and models · Economic Theory and Institutions · Economic Theory and Policy
| Highly cited | No |
|---|