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Housing IS the Business Cycle

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NBER2007-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w13428
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Of the components of GDP, residential investment offers by far the best early warning sign of an oncoming recession. Since World War II we have had eight recessions preceded by substantial problems in housing and consumer durables. Housing did not give an early warning of the Department of Defense
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2007-09-01
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