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Scientific article
English

Residential and Nonresidential Investment and the Cycle: A Rejoinder

Published inReview of political economy, p. 1-5pp.
Publication date2023-01-24
First online date2023-01-24
Abstract

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.

eng
Citation (ISO format)
NIKIFOROS, Michalis, SANTETTI, Marcio, VON ARNIM, Rudiger. Residential and Nonresidential Investment and the Cycle: A Rejoinder. In: Review of political economy, 2023, p. 1–5pp. doi: 10.1080/09538259.2022.2156726
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ISSN of the journal0953-8259
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