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Something is wrong with construction

Summary:
Changing sectoral trends in the last 6 decades, translated through the economy’s production network, have on net lowered trend GDP growth by around 2.3 percentage points.  The Construction sector, more than any other sector, stands out for its contribution to the trend decline in GDP growth over the post-war period, accounting for 30 percent of this decline. That is from a new working paper by Andrew Foerster, Andreas Hornstein, Pierre-Daniel Sarte, and Mark W. Watson, “Aggregate Implications of Changing Sectoral Trends.” Kevin Erdmann, telephone! The post Something is wrong with construction appeared first on Marginal REVOLUTION.

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Changing sectoral trends in the last 6 decades, translated through the economy’s production network, have on net lowered trend GDP growth by around 2.3 percentage points.  The Construction sector, more than any other sector, stands out for its contribution to the trend decline in GDP growth over the post-war period, accounting for 30 percent of this decline.

That is from a new working paper by Andrew Foerster, Andreas Hornstein, Pierre-Daniel Sarte, and Mark W. Watson, “Aggregate Implications of Changing Sectoral Trends.

Kevin Erdmann, telephone!

The post Something is wrong with construction appeared first on Marginal REVOLUTION.

Tyler Cowen
Tyler Cowen is an American economist, academic, and writer. He occupies the Holbert C. Harris Chair of economics as a professor at George Mason University and is co-author, with Alex Tabarrok, of the popular economics blog Marginal Revolution. Cowen and Tabarrok have also ventured into online education by starting Marginal Revolution University. He currently writes the "Economic Scene" column for the New York Times, and he also writes for such publications as The New Republic, the Wall Street Journal, Forbes, Newsweek, and the Wilson Quarterly.

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